Pricing Supplement No. 729 Dated 3/24/94 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 -- Floating Rate or Indexed Rate)
Due More Than Nine Months from Date of Issue
Principal Amount or Face Amount: $100,000,000.00
Issue Price: 100.0000000000%
Proceeds to Company on original issuance: $100,000,000.00
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: 4/05/94
Stated Maturity: 4/05/99
Specified Currency:
(If other than U.S. Dollars)
Authorized Denominations:
(If other than as set forth in the Prospectus Supplement)
Interest Payment Dates: 5th of January, April, July & October.
(If other than as set forth in the Prospectus Supplement)
Indexed Principal Note: | | Yes (see attached) |X| No
Floating Rate: |X| Indexed Rate: | | (see attached)
Initial Interest Rate: 5.2770000%
Base Rate: | | CD Rate | | Commercial Paper Rate | | Federal Funds Rate
| | LIBOR Telerate | | LIBOR Reuters | | Treasury Rate
| | Treasury Rate Constant Maturity |x| Other (see attached)
Interest Reset Dates: 5th of January, April, July & October.
Index Maturity: 2 years
Spread (+/-): +10 b.p.
Spread Multiplier:
Spread Reset: |X| The Spread or Spread Multiplier may not be changed prior to
Stated Maturity.
| | The Spread or Spread Multiplier may be changed prior to
Stated Maturity (see attached).
Optional Reset Dates (if applicable):
Maximum Interest Rate:
Minimum Interest Rate:
Amortizing Note: | | Yes |X| No
Amortization Schedule:
Optional Redemption: | | Yes |X| No
Optional Redemption Dates:
Redemption Prices:
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 April 5, 1994
(to Prospectus Supplement dated December 14, 1993,
to Prospectus dated December 14, 1993)
DESCRIPTION OF THE NOTE
General
The description in this Pricing Supplement of the
particular terms of the Registered Floating Rate Note offered
hereby (the "Note") supplements, and to the extent inconsistent
therewith replaces, the descriptions of the general terms and
provisions of the Registered Notes set forth in the accompanying
Prospectus and Prospectus Supplement, to which description
reference is hereby made.
Interest
The Base Rate for the Note is the "Constant Maturity
Treasury Rate" (as defined below) converted to a quarterly rate.
Interest on the Note will be computed by dividing the interest
rate in effect on any day by the actual number of days in the
year. If any Interest Payment Date is not a Business Day, the
Interest Payment Date shall not be postponed; provided, however,
any payment required to be made in respect of the Note on a day
(including Stated Maturity) that is not a Business Day for the
Note may be made on the next succeeding Business Day with the
same force and effect as if made on such day, and no additional
interest shall accrue as a result of such delayed payment.
The "Constant Maturity Treasury Rate" shall be
determined by the Treasury Rate Determination Agent (as defined
below) as described below. The description below of the Constant
Maturity Treasury Rate supersedes the description of such rate in
the Prospectus Supplement.
The "Constant Maturity Treasury Rate" shall be the rate
that is set forth in the Federal Reserve Board publication
H.15(519) opposite the caption "U.S.
Government/Securities/Treasury Constant Maturities/" in the Index
Maturity with respect to the applicable Treasury Rate
Determination Date. If the H.15(519) is no longer published, the
"Constant Maturity Treasury Rate" shall be the rate that was set
forth on Telerate Page 7055, or its successor page (as determined
by the Treasury Rate Determination Agent), on the applicable
Treasury Rate Determination Date (as defined below) opposite the
applicable Index Maturity. If no such rate is set forth, then
the Constant Maturity Treasury Rate for such Interest Reset Date
shall be established by the Treasury Rate Determination Agent as
follows. The Treasury Rate Determination Agent will contact the
Federal Reserve Board and request the Constant Maturity Treasury
Rate, in the applicable Index Maturity, for the Interest Reset
Date. If the Federal Reserve Board does not provide such
information, then the Constant Maturity Treasury Rate for such
Interest Reset Date will be the arithmetic mean of bid-side
quotations, expressed in terms of yield, reported by three
leading U.S. government securities dealers (one of which may be
the Treasury Rate Determination Agent), according to their
written records, as of 3:00 p.m. (EST) on the Treasury Rate
Determination Date, for the noncallable U.S. Treasury Note that
is nearest in maturity to the Index Maturity, but not less than
exactly the Index Maturity and for the noncallable U.S. Treasury
Note that is nearest in maturity to the Index Maturity, but not
more than exactly the Index Maturity. The Treasury Rate
Determination Agent shall calculate the Constant Maturity
Treasury Rate by interpolating to the Index Maturity based on an
actual/actual day count basis, the yield on the two Treasury
Notes selected. If the Treasury Rate Determination Agent cannot
obtain three such adjusted quotations, the Constant Maturity
Treasury Rate for such Interest Reset Date will be the arithmetic
mean of all such quotations, or if only one such quotation is
obtained, such quotation, obtained by the Treasury Rate
Determination Agent. In all events, the Treasury Rate
Determination Agent shall continue polling dealers until at least
one adjusted yield quotation can be determined.
The Constant Maturity Treasury Rate, as defined above,
is expressed based on the assumption that interest payments will
be made on a semi-annual basis. However, payments on the Note
will be made quarterly and the Constant Maturity Treasury Rate
will be correspondingly converted to a quarterly rate.
The "Treasury Rate Determination Date" shall be the
tenth New York Banking Day prior to the Interest Reset Date for
an Interest Reset Period. A "New York Banking Day" is a day,
other than Saturday or Sunday, that is not a day on which banking
institutions are authorized or required by law or regulation to
be closed in the City of New York.
The "Treasury Rate Determination Agent" shall be
Salomon Brothers Inc, which is a wholly-owned subsidiary of the
Company.
