Citi plans non-callable fixed-to-floaters with 2% initial rate, 5% cap

By Susanna Moon

Chicago, July 2 - Citigroup Funding Inc. plans to price non-callable fixed-to-floating notes due July 30, 2015, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 2% initially. Beginning July 30, 2014, it will be Libor plus 115 basis points, up to a maximum rate of 5%. Interest is payable quarterly.

The payout at maturity will be par.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on July 25 and settle three days later.

The Cusip number is 1730T0YC7.

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