By Susanna Moon
Chicago, Feb. 4 - Citigroup Funding Inc. priced $2.4 million of callable leveraged CMS spread principal-protected notes due Feb. 12, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 9% for the first year. After that, the rate will be four times the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate, up to a maximum rate of 9% and with a minimum rate of 0%. Interest is payable quarterly.
The payout at maturity will be par.
The notes are callable at par on any interest payment date beginning Feb. 12, 2011.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Callable leveraged CMS spread principal-protected notes
|
| Amount: | $2.4 million
|
| Maturity: | Feb. 12, 2020
|
| Coupon: | 9% for first year; after that, four times spread of 30-year CMS rate over two-year CMS rate, capped at 9%, floor of 0%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates beginning Feb. 12, 2011
|
| Pricing date: | Feb. 2
|
| Settlement date: | Feb. 12
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17308CNM4
|
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