New Issue: Citigroup prices $8.5 mln callable step-up notes with 4.5% initial rate

By Jennifer Chiou

New York, May 12 - Citigroup Funding Inc. priced $8.5 million of callable step-up notes due May 17, 2026, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will initially be 4.5%, stepping up to 4.75% on May 17, 2014, to 5.5% on May 17, 2017 and to 7% on May 17, 2021. Interest is payable semiannually.

The payout at maturity will be par.

Beginning on May 17, 2016, 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 step-up coupon notes
Amount:	$8.5 million
Maturity:	May 17, 2026
Coupon:	4.5% initially, stepping up to 4.75% on May 17, 2014, to 5.5% on May 17, 2017 and to 7% on May 17, 2021; payable semiannually
Price:	Par
Call option:	At par on any interest payment date beginning on May 17, 2016
Pricing date:	May 10
Settlement date:	May 17
Underwriter:	Citigroup Global Markets Inc.
Fees:	2%
Cusip:	1730T0KA6

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