New Issue: Citi prices $10.02 million range accrual notes tied to S&P 500, Libor

By Jennifer Chiou

New York, Oct. 26 - Citigroup Funding Inc. priced $10.02 million of callable index-linked range accrual notes due Oct. 28, 2026 linked to the S&P 500 index and Libor, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 8% for the first year. After that, interest will accrue at 8% per year multiplied by the proportion of days on which Libor is 6.5% or less and the S&P 500 closes at or above 860.34. Interest is payable quarterly.

The payout at maturity will be par.

After two years, the notes will be callable at par on any interest payment date.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Funding Inc.
Issue:	Callable range accrual notes
Underlying components:	S&P 500 index, Libor
Amount:	$10,016,000
Maturity:	Oct. 28, 2026
Coupon:	8% for the first year; beginning on Oct. 28, 2012, 8% per year on each day that S&P 500 closes at or above 860.34 and Libor is 6.5% or less; payable quarterly
Price:	Par
Payout at maturity:	Par
Call option:	At par on any interest payment date beginning on Oct. 28, 2013
Index reference level:	860.34
Pricing date:	Oct. 25
Settlement date:	Oct. 28
Underwriter:	Citigroup Global Markets Inc.
Fees:	3.5%
Cusip:	1730T0PM5

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