By Angela McDaniels
Tacoma, Wash., Feb. 24 - Citigroup Funding Inc. priced $2.5 million of noncallable fixed-to-floating-rate notes due Feb. 24, 2014, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 2% for the first year. In the second year, it will be Libor plus 100 basis points. Interest is payable quarterly.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Noncallable fixed-to-floating-rate notes
|
| Amount: | $2.5 million
|
| Maturity: | Feb. 24, 2014
|
| Coupon: | 2% for first year; after that, Libor plus 100 basis points; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Feb. 22
|
| Settlement date: | Feb. 24
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.5%, used for selling concessions
|
| Cusip: | 1730T0WG0
|
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