By Angela McDaniels
Tacoma, Wash., July 28 – Citigroup Inc. priced $10 million of callable dual range accrual notes due July 29, 2029 linked to Libor and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 5.5% per year multiplied by the proportion of days on which Libor is 5% or less and the index's closing level is greater than or equal to 75% of the initial index level. Interest is payable quarterly.
The payout at maturity will be par.
Beginning July 29, 2015, the notes will be callable at par on any interest payment date.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Inc.
|
| Issue: | Callable dual range accrual notes
|
| Underlyings: | Libor and S&P 500 index
|
| Amount: | $10 million
|
| Maturity: | July 29, 2029
|
| Coupon: | 5.5% per year multiplied by proportion of days on which Libor is 5% or less and index closes at or above accrual barrier level; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date from July 29, 2015 onward
|
| Accrual barrier level: | 1,490.985, 75% of initial index level
|
| Pricing date: | July 24
|
| Settlement date: | July 29
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.5%
|
| Cusip: | 1730T0V55
|
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