By Andrea Heisinger
New York, Sept. 15 - Citigroup Funding and Citibank NA priced $5 billion of notes (Aaa/AAA/AAA) in three tranches with a guarantee of the Federal Deposit Insurance Corp. late on Tuesday, an informed source said.
A $1.5 billion tranche of 1.25% two-year notes issued by Citibank priced at 99.976 to yield 1.262% with a spread of Treasuries plus 32.7 basis points.
A $1 billion tranche of three-year floating-rate notes, also sold by Citibank, priced at par to yield three-month Libor flat.
The third tranche was $2.5 billion of 1.875% three-year notes priced by Citigroup Funding at 99.642 to yield 1.995% with a spread of Treasuries plus 49.4 bps.
The tranches are all non-callable.
Citigroup Global Markets Inc. was the bookrunner.
The financial services company is based in New York City.
| Issuer: | Citigroup Funding, Citibank NA
|
| Guarantor: | Federal Deposit Insurance Corp.
|
| Issue: | Notes
|
| Amount: | $5 billion
|
| Bookrunner: | Citigroup Global Markets Inc.
|
| Trade date: | Sept. 15
|
| Settlement date: | Sept. 22
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
|
|
| Two-year notes
|
| Issuer: | Citibank NA
|
| Amount: | $1.5 billion
|
| Maturity: | Sept. 22, 2011
|
| Coupon: | 1.25%
|
| Price: | 99.976
|
| Yield: | 1.262%
|
| Spread: | Treasuries plus 32.7 bps
|
| Call: | Non-callable
|
|
|
| Three-year notes
|
| Issuer: | Citigroup Funding
|
| Amount: | $2.5 billion
|
| Maturity: | Oct. 22, 2012
|
| Coupon: | 1.875%
|
| Price: | 99.642
|
| Yield: | 1.995%
|
| Spread: | Treasuries plus 49.4 bps
|
| Call: | Non-callable
|
|
|
| Three-year floaters
|
| Issuer: | Citibank NA
|
| Amount: | $1 billion
|
| Maturity: | Sept. 21, 2012
|
| Coupon: | Three-month Libor flat
|
| Price: | Par
|
| Yield: | Three-month Libor flat
|
| Call: | Non-callable
|
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