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Citigroup to price non-callable fixed-to-floating notes due 2016
New York, Feb. 1 - Citigroup Funding Inc. plans to price non-callable fixed-to-floating-rate notes due Feb. 14, 2016 via underwriter Wells Fargo Securities, LLC, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 3% in year one. After that it will be Libor plus 115 basis points, subject to a maximum rate of 6% per year in any interest period. Interest will be payable quarterly.
The payout at maturity will be par.
The notes (Cusip: 1730T0WC9) are expected to price Feb. 9 and settle three business days later.
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