Pricing Supplement No. 992 Dated 7/29/97 Rule 424(b)(3)
(To Prospectus dated April 5, 1996 and File No. 333-01807
Prospectus Supplement dated April 5, 1996)
This Pricing Supplement consists of 1 page(s)
SALOMON INC
Medium-Term Notes, Series D
(Registered Notes)
Due More Than Nine Months from Date of Issue
Principal Amount or Face Amount: $35,000,000.00
Issue Price: 19.92384000%
Proceeds to Company on original issuance: $6,973,344.00
Commission or Discount on original issuance: $.00
Salomon Brothers Inc's capacity on original issuance: | | As agent
If as principal |X| 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: 8/20/97
Stated Maturity: 8/20/17
Specified Currency:
(If other than U.S. Dollars)
Authorized Denominations:
(If other than as set forth in the Prospectus Supplement)
Interest Payment Dates: See Attached.
Accrue to Pay: | | Yes |X| No
Indexed Principal Note: | | Yes (See Attached) |X| No
Type of Interest on Note: |X| Fixed Rate | | Floating Rate | | Indexed Rate
(See Attached)
Interest Rate (Fixed Rate Notes): .0000000%(See Attached)
Initial Interest Rate (Floating Rate Notes):
Base Rate: | | CD Rate | | Commercial Paper Rate | | Federal Funds Rate
| | LIBOR Telerate | | LIBOR Reuters | | Treasury Rate
| | Treasury Rate Constant Maturity | | Other (See Attached)
Calculation Agent (If other than Citibank): | | Salomon Brothers
| | Other (See Attached)
Computation of Interest: |X| 30 over 360 | | Actual over Actual
| | Actual over 360 | | Other (See Attached)
(If other than as set forth in the Prospectus Supplement)
Interest Reset Dates:
Rate Determination Dates:
(If other than as set forth in the Prospectus Supplement)
Index Maturity:
Spread (+/-):
Spread Multiplier:
Change in Spread, Spread Multiplier or Fixed Interest Rate prior
to Stated Maturity: | | Yes (See Attached) | | No
Maximum Interest Rate:
Minimum Interest Rate:
Amortizing Note: | | Yes (See Attached) |X| No
Optional Redemption: |X| Yes | | No
Optional Redemption Dates: Y
Redemption Prices:
Redemption: | | In whole only and not in part |X| May be in whole or in part
Optional Repayment: | | Yes |X| No
Optional Repayment Dates:
Optional Repayment Prices:
Discount Note: |X| Yes | | No
Total Amount of OID: $28,026,656.00
Bond Yield to Call :
Bond Yield to Maturity: 8.231
Yield to Maturity : 8.231
Cusip: 79549QEB6
Pricing Supplement No. D992
Pricing Supplement dated July 29, 1997
(to Prospectus dated April 5, 1996)
DESCRIPTION OF THE NOTES
General
The description in this Pricing Supplement of the
particular terms of the Registered Zero Coupon Callable Notes
offered hereby (the "Notes") supplements, and to the extent
inconsistent therewith replaces, the description of the general
terms and provisions of the Registered Notes set forth in the
accompanying Prospectus, to which descriptions reference is
hereby made.
Risk Factors
THE NOTES DO NOT BEAR PERIODIC PAYMENTS OF INTEREST.
The Notes are subject to redemption at the option of the
Company on the 20th of February and August of each year during the
term of the Notes, commencing August 20, 1999. As more fully set
forth below under "Redemption", the amount in respect of
principal on a Note that a Holder will receive in the event of
any such optional redemption by the Company will be less than the
face amount of such Note. HOLDERS OF THE NOTES SHOULD BE PREPARED
NOT TO RECEIVE MORE THAN 118% OF THE INITIAL PURCHASE PRICE OF A
NOTE IN RESPECT OF PRINCIPAL ON SUCH NOTE.
Interest
THE NOTES DO NOT BEAR PERIODIC PAYMENTS OF INTEREST.
Redemption
The Notes will be redeemable at the option of the Company,
in whole or in any part thereof, at the Redemption Price set
forth in the table below (such redemption an "Optional
Redemption"), on the 20th of February and August of each year during
the term of the Notes, commencing August 20, 1999 (each such date
an "Optional Redemption Date").
<PAGE>
Redemption Price
Optional (expressed as a percentage of the
Redemption Principal Amount set forth on the
Date face of this Pricing Supplement)
- ---------- ---------------------------------
August 20, 1999 23.6460715%
February 20, 2000 24.6658083%
August 20, 2000 25.7295213%
February 20,2001 26.8230260%
August 20, 2001 27.9630046%
February 20, 2002 29.0990017%
August 20, 2002 30.2811486%
February 20, 2003 31.5113203%
August 20, 2003 32.7914676%
February 20, 2004 34.1236210%
August 20, 2004 35.5098931%
February 20, 2005 36.9524825%
August 20, 2005 38.4536771%
February 20, 2006 40.0158578%
August 20, 2006 41.6415020%
February 20, 2007 43.3331880%
August 20, 2007 45.0935988%
February 20, 2008 46.9255262%
August 20, 2008 48.8318757%
February 20, 2009 50.8156707%
August 20, 2009 52.8800573%
February 20, 2010 55.0283096%
August 20, 2010 57.2638347%
February 20, 2011 59.5901780%
August 20, 2011 62.0110290%
February 20, 2012 64.5302270%
August 20, 2012 67.1517675%
February 20, 2013 69.8798080%
August 20, 2013 72.7186752%
February 20, 2014 75.6728714%
August 20, 2014 78.7470818%
February 20, 2015 81.9461820%
August 20, 2015 85.2752457%
February 20, 2016 88.7395525%
August 20, 2016 92.3445968%
February 20, 2017 96.0960961%
<PAGE>
If any Optional Redemption Date would otherwise be a day
that is not a Business Day, the Optional Redemption Date shall be
the next succeeding Business Day.
The Company may exercise its right of Optional Redemption
by notifying the Trustee of its exercise of such option at least
15 calendar days prior to the Optional Redemption Date. At least
15 calendar days but not more than 60 calendar days prior to such
Optional Redemption Date, the Trustee shall mail notice of such
redemption, first class, postage prepaid, to the Depositary's
nominee, as sole Holder of the Notes under the Indenture. The
Depositary will distribute any such notice to the owners of
beneficial interests in the Notes in accordance with its regular
practice.
Plan of Distribution
The Company intends to sell the Notes at a price equal to
Issue Price set forth on the face of this Pricing Supplement to
the Underwriter for its own account or for resale to one or more
purchasers, including dealers, at varying prices related to
prevailing market prices at the time of resale, as determined by
the Underwriter. Notes sold by the Underwriter to a dealer may be
resold at varying prices related to prevailing market prices at
the time of resale.
The Underwriter will enter into a swap agreement with an
affiliate in connection with its sale of the Notes and may earn
additional income as a result of payments pursuant to such swap
or related hedge transactions.
