By Susanna Moon
Chicago, March 16 - Citigroup Funding Inc. priced $3 million of callable step-up coupon notes due March 20, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 3.75% for the first four years, stepping up to 4.25% on March 20, 2016 and to 5% on March 20, 2020. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date after three years.
Citigroup Global Markets Inc. is the underwriter, and Morgan Stanley Smith Barney LLC will handle distribution.
Issuer: | Citigroup Funding Inc.
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Issue: | Callable step-up coupon notes
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Amount: | $3 million
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Maturity: | March 20, 2024
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Coupon: | 3.75% initially, stepping to 4.25% on March 20, 2016 and to 5% on March 20, 2020; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | Par on any interest payment date beginning March 20, 2015
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Pricing date: | March 15
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Settlement date: | March 20
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Underwriter: | Citigroup Global Markets Inc.
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Distribution: | Morgan Stanley Smith Barney LLC
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Fees: | 0.5%
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Cusip: | 1730T0WS4
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