By Susanna Moon
Chicago, March 29 - Citigroup Funding Inc. priced $4 million of fixed-to-floating notes due March 30, 2022 linked to the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 5% for the first year. After that it will be equal to the year-over-year change in the Consumer Price Index plus 100 basis points, up to a maximum rate of 7%. Interest is payable monthly and cannot be less than zero.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Fixed-to-floating notes
|
| Underlying index: | Consumer Price Index
|
| Amount: | $4 million
|
| Maturity: | March 30, 2022
|
| Coupon: | 5% initially; from March 30, 2013 year-over-year change in index plus 100 bps, capped at 7%, floor of zero; payable monthly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Pricing dates: | March 27
|
| Settlement date: | March 30
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.5%
|
| Cusip: | 1730T0WR6
|
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