By Angela McDaniels
Tacoma, Wash., Dec. 13 - Citigroup Funding Inc. priced $10.5 million of callable step-up coupon notes due Dec. 15, 2026, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 5% in years one through five, 6% in years six through 10 and 7% in years 11 through 15. Interest is payable semiannually.
The payout at maturity will be par.
Beginning Dec. 15, 2014, the notes will be callable at par on any interest payment date.
Citigroup Global Markets Inc. is the underwriter. Distribution is through Morgan Stanley Smith Barney LLC, among other dealers.
Issuer: | Citigroup Funding Inc.
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Issue: | Callable step-up coupon notes
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Amount: | $10.5 million
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Maturity: | Dec. 15, 2026
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Coupon: | 5% in years one through five, 6% in years six through 10 and 7% in years 11 through 15; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on interest payment dates from Dec. 15, 2014 onward
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Pricing date: | Dec. 12
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Settlement date: | Dec. 15
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Underwriter: | Citigroup Global Markets Inc.
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Distribution: | Morgan Stanley Smith Barney LLC
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Fees: | 2.25%
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Cusip: | 1730T0QT9
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