By Susanna Moon
Chicago, Feb. 24 - Citigroup Funding Inc. priced $4.53 million of callable CMS spread range accrual notes due Feb. 25, 2031 linked to the 30-year and two-year Constant Maturity Swap rates, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 7% for the first year. After that, the rate will be 7% for each day that the spread of the 30-year CMS rate over the two-year CMS rate is at least zero. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning Feb. 25, 2012.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Callable CMS spread range accrual notes
|
| Amount: | $4,526,000
|
| Maturity: | Feb. 25, 2031
|
| Coupon: | 7% for one year; thereafter, 7% for each day that 30-year CMS rate is at or above two-year CMS rate; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates after one year
|
| Pricing date: | Feb. 22
|
| Settlement date: | Feb. 25
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3%
|
| Cusip: | 1730T0LQ0
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
