By Jennifer Chiou
New York, June 23 - Citigroup Funding Inc. priced $2 million of non-callable fixed- to floating-rate principal-protected notes due June 24, 2020 linked to the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.
For the first year, the notes will pay a fixed coupon of 6%. Thereafter, interest will be determined using the year-over-year change in the CPI, with a floor of 0% and a cap of 8%. Interest will be payable monthly.
Investors will receive at least par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Fixed to floating principal-protected notes
|
| Underlying index: | Consumer Price Index
|
| Amount: | $2 million
|
| Maturity: | June 24, 2020
|
| Coupon: | 6% for the first year; thereafter, interest based on the year-over-year change in the CPI; floor of 0% and cap of 8%; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par plus accrued interest
|
| Pricing date: | June 21
|
| Settlement date: | June 24
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.8%
|
| Cusip: | 1730T0JH3
|
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