Pricing Supplement No. 666 Dated 1/21/94 Rule 424(b)(3)
(To Prospectus dated December 14, 1993 and File No. 33-51269,
Prospectus Supplement dated December 14, 1993) 33-57922 and 33-49136
SALOMON INC
Medium-Term Notes, Series D
(Registered Notes - Fixed Rate)
Due More Than Nine Months from Date of Issue
Principal Amount or Face Amount: $200,000,000.00
Issue Price: 100.0000000000%
Proceeds to Company on original issuance: $200,000,000.00
Commission or Discount on original issuance: $.00
Salomon Brothers Inc.'s capacity on original issuance: | | As agent
|X| As principal
If as principal:
|X| The Registered Notes are being offered at varying prices related
to prevailing market prices at the time of resale.
| | The Registered Notes are being offered at a fixed initial public
offering price of % of Principal Amount or Face Amount.
Original Issue Date: 2/10/94
Stated Maturity: 2/10/99
Specified Currency:
(If other than U.S. Dollars)
Authorized Denominations:
(If other than as set forth in the Prospectus Supplement)
Interest Payment Dates: February 10 and August 10, beginning August 10, 1994.
(If other than as set forth in the Prospectus Supplement)
Indexed Principal Note: | | Yes (see attached) |X| No
Interest Rate: 5.2600000% from February 10, 1994 to February 9, 1996;
7.06% thereafter
Interest Rate Reset: |X| The Interest Rate may not be changed prior to Stated
Maturity.
| | The Interest Rate may be changed prior to Stated
Maturity (see attached).
Optional Reset Dates (if applicable):
Amortizing Note: | | Yes |X| No
Amortization Schedule:
Optional Redemption: |X| Yes | | No
Optional Redemption Dates: In whole only, on February 10, 1996 and each
interest payment date thereafter upon 30 days notification, as described
in the Prospectus Supplement
Redemption Prices: 100%
Optional Repayment: | | Yes |X| No
Optional Repayment Dates:
Optional Repayment Prices:
Optional Extension of Stated Maturity: | | Yes |X| No
Final Maturity:
Discount Note: | | Yes |X| No
Total Amount of OID:
Yield to Maturity:
Pricing Supplement dated February 9, 1994
(to Prospectus Supplement dated December 14, 1993,
to Prospectus dated December 14, 1993)
TAXATION
The following summary supplements, and to the extent inconsistent
therewith replaces, the discussion of United States taxation set
forth in the accompanying Prospectus Supplement under the heading
"United States Tax Considerations," to which discussion reference
is hereby made.
The following is a summary of certain anticipated U.S.
Federal income tax consequences to a holder of an investment in
the Step-up Note. It does not purport to address every U.S.
Federal income tax issue raised by ownership of the Step-up Note.
In particular, this summary applies only to a person that holds
the Step-up Note as a capital asset and does not deal with a
person in a special tax situation or a person that holds the
Step-up Note as part of an integrated investment (including a
"straddle") comprised of the Step-up Note and one or more other
positions. Prospective purchasers of the Step-up Note are urged
to consult their own tax advisors regarding the U.S. Federal (as
well as state and local) tax consequences to them of owning the
Step-up Note in light of their particular circumstances.
Final regulations dealing with original issue discount
were released on January 27, 1994, and as so released are
referred to herein as the Final Regulations. While the Final
Regulations are not yet effective, the Company will rely upon the
Final Regulations rather than the Proposed Regulations to
determine the treatment of the Step-up Note. Under the Final
Regulations, the Step-up Note will be treated as having a stated
maturity of February 10, 1996 and annual fixed interest at a 5.26
percent rate, which interest will be taxable to a U.S. holder at
the time that it accrues or is received (in accordance with the
U.S. holder's method of tax accounting). If the Step-up Note is
not called on February 10, 1996, the Step-up Note will be treated
as reissued on that date at par, with annual fixed interest of
7.06 percent, which interest will be taxable to a U.S. holder at
the time that it accrues or is received (in accordance with the
U.S. holder's method of tax accounting).
