Published on 3/10/2011 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $11 million non-callable variable-rate notes on CPI
By Toni Weeks
San Diego, March 10 - Citigroup Funding Inc. priced $11 million of non-callable variable-rate notes due March 11, 2016 linked to the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly and will be equal to the year-over-year change in the Consumer Price Index plus 70 basis points, subject to a floor of 2% and a cap of 6%.
The payout at maturity will be par.
The underwriter is Citigroup Global Markets Inc.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Non-callable variable-rate notes
|
| Underlying index: | Consumer Price Index
|
| Amount: | $11 million
|
| Maturity: | March 11, 2016
|
| Coupon: | Year-over-year change in the Consumer Price Index plus 70 bps, floor of 2%, cap of 6%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | March 8
|
| Settlement date: | March 11
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.5%
|
| Cusip: | 1730T0LV9
|
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