Filed pursuant to
Rule 424(b)(2)
Registration No. 33-59791
CITICORP
U.S. $7,000,000,000
Global Medium-Term Senior Notes, Series D
U.S. $1,000,000,000
Global Medium-Term Subordinated Notes, Series D
Due From 9 Months to 60 Years From Date of Issue
Pricing Supplement, dated February 9, 1996 (the "Pricing Supplement")
to Prospectus Supplement, dated August 7, 1995 (the "Prospectus Supplement"); to
Prospectus, dated August 7, 1995 (the "Base Prospectus" and collectively with
the Pricing Supplement and the Prospectus Supplement, the "Prospectus")
DESCRIPTION OF NOTES
The description of the LISBOR Escudo Notes set forth in this Pricing
Supplement supplements the description of general terms and provisions of
Citicorp's Global Medium-Term Senior Notes, Series D, set forth in the
accompanying Prospectus and Prospectus Supplement. To the extent any statement
herein differs from a statement made in such accompanying Prospectus or
Prospectus Supplement, such statement shall modify or supersede the statement
made in such Prospectus or Prospectus Supplement. Any such statement so modified
or superseded shall not be deemed, except as so modified or superseded, to
constitute a part of the accompanying Prospectus or Prospectus Supplement. For a
description of certain risks associated with the LISBOR Escudo Notes, see
"FOREIGN CURRENCY RISKS" in the accompanying Prospectus Supplement.
SUMMARY OF TERMS:
Title of Notes: LISBOR Senior Floating Rate Notes Due February 15,
2001 (the "LISBOR Escudo Notes").
Aggregate
Principal Amount: PTE 7,500,000,000.00.
Specified Currency: Portuguese Escudo.
Issue Date: February 15, 1996.
Stated Maturity Date: February 15, 2001.
Interest Rate Index: Six Month LISBOR.
Spread: Plus 10.0 basis points.
Initial Interest Rate: Six Month LISBOR plus 0.10%, as determined on the
second Market Day preceding the Issue Date.
Interest Rate: For each Interest Period, Six Month LISBOR plus
0.10%, as determined on the related LISBOR
Interest Determination Date, or in the case of the
Initial Interest Rate, the second Market Day
preceding the Issue Date.
Interest Commencement Date: February 15, 1996.
Interest Payment Dates: Semi-annually, on the 15th day of each February
and August, commencing August 15, 1996, and at
Stated Maturity, provided that if an Interest
Payment Date is not a Business Day in New York,
New York, London, United Kingdom and Lisbon,
Portugal, then payment of interest will not be
made on such date, but will be made on the next
succeeding day which is a Business Day in New
York, New York, London, United Kingdom and Lisbon,
Portugal with the same force and effect as if made
on the Interest Payment Date and no interest shall
accrue on the amount so payable for the period
from and after such Interest Payment Date.
Interest Period: Semi-annually.
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Interett Reset Dates: The 15th day of each February and August.
LISBOR Interest
Determination Dates: Pertaining to an Interest Reset Date, the second
Market Day preceding such related Interest Reset
Date.
Index Maturity: Six Months.
LISBOR Screen Reference: Reuters Page LBOA (as described below).
Calculation Dates: The related LISBOR Interest Determination Date.
Form and Denominations: The LISBOR Escudo Notes will initially be issued
in the form of one or more temporary global Notes,
which will be exchanged 45 days after the
Settlement Date, upon written certification as
described in this Pricing Supplement and in the
Prospectus Supplement, for one or more permanent
global Notes. Interests in the permanent global
Notes will thereafter be exchangeable at the
option of the beneficial owner, on the terms and
conditions described in this Pricing Supplement
and in the Prospectus Supplement, for definitive
Notes in bearer form in denominations of PTE
10,000 and any integral multiple of PTE 1,000 in
excess thereof. See "Global Notes" herein and
"DESCRIPTION OF NOTES--Form and Denominations" in
the Prospectus Supplement.
Early Redemption: The LISBOR Escudo Notes are not subject to
redemption.
Sinking Fund: The LISBOR Escudo Notes are not subject to any
sinking fund.
Exchange Listing: The LISBOR Escudo Notes will be listed on the
Luxembourg Stock Exchange.
Calculation Agent: Citibank, N.A.
Selling Agent: Not applicable. Sold by Citicorp.
Commission: Not applicable
Price to Public: 100%.
Clearance Information: The LISBOR Escudo Notes have been accepted for
clearance through Euroclear and Cedel.
Common Code: 6389805.
ISIN: XS63898059.
In this Pricing Supplement references to "Escudo" and "PTE" are to
Portuguese Escudo. At approximately 8:00 a.m. Lisbon time on February 9, 1996,
the bid quotation from Citibank, N.A., Lisbon branch was PTE 154.60 per United
States dollar.
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LISBOR REFERENCE SCREEN
LISBOR means that the rate for an Interest Reset Date will be the
interbank offered rate as displayed on Reuters Screen Page "LBOA" for deposits
in Portuguese Escudo for a period of the Index Maturity as of 11:00 a.m. Lisbon
time, on the day that is two Lisbon Banking Days preceding the Interest Reset
Date. If such rate does not appear on Reuters Screen Page "LBOA" the rate for
that Interest Reset Date will be determined as if the parties had specified
"PTE-LBOA Reference Banks" as the applicable Index.
PTE-LBOA-Reference Banks means that the rate for an Interset Reset
Date will be determined on the basis of the rates at which deposits in
Portuguese Escudo are offered by the Reference Banks at approximately 11:00
a.m., Lisbon time on the day that is two Lisbon Business Days preceding that
Interest Reset Date to prime banks in the Lisbon interbank market for the period
of the Index Maturity commencing on that Index Reset Date and in a
Representative Amount. The Calculation Agent will request the principal Lisbon
office of each of the Reference Banks to provide a quotation of its rate. If at
least two quotations are provided, the rate for that Interest Reset Date
quotations are provided as requested, the rate for that Interest Reset Date will
be the arithmetic means of the rates quoted by the major banks in Lisbon,
selected by the Calculation Agent, at approximately 11:00 a.m., Lisbon time, on
that Interest Reset Date for loans in Portuguese Escudo to leading European
banks for a period of the Index Maturity commencing on that Interest Reset Date
and in a Representative Amount.
Reference Banks shall mean 4 major banks in the Lisbon interbank
market. Representative Amount shall mean an amount not less than PTE 1,000,000.
PAYMENT AND PAYING AGENTS
Generally, the principal of and interest on the LISBOR Escudo Notes
will be payable in the manner specified in the accompanying Prospectus under the
heading "DESCRIPTION OF NOTES -- Payment and Paying Agents" and the accompanying
Prospectus Supplement under the headings "DESCRIPTION OF NOTES -- Payment and
Paying Agents" and "SPECIAL PROVISIONS RELATING TO FOREIGN CURRENCY NOTES --
Payment".
In addition to Citibank, acting through its principal office in
London, England, and Citibank (Luxembourg) S.A., acting through its principal
office in Luxembourg, Citicorp has designated Citibank, acting through its main
office in Lisbon, Portugal as Paying Agent for the LISBOR Escudo Notes outside
the United States. Citicorp will, as long as any LISBOR Escudo Notes remain
outstanding, maintain a paying agency in Lisbon. In addition to London and
Luxembourg, Lisbon will constitute a Place of Payment with respect to the Notes.
The principal of and interest on the LISBOR Escudo Notes will be
payable in Escudos. Payments will be made by Escudo check or Escudo bank draft
on a bank (in the case of payment to a nonresident of Portugal, an authorized
foreign exchange bank) in Lisbon, Portugal or by transfer in same day funds to
an Escudo account (in the case of payment to a nonresident of Portugal, to a
nonresident account) maintained by the payee with a bank in Lisbon, Portugal,
subject in each case to all applicable laws and regulations.
SELLING RESTRICTIONS
The LISBOR Escudo Notes have not and will not be registered under the
Portuguese Securities Code as a public offering. The Selling Agent has
represented and agreed that it has not offered and will not offer any notes by
way of a public offering within the Portuguese market, such concept meaning an
unsolicited request for applications for the subscription of notes addressed to
non-pre-determined and non-pre-defined investors or by using any public
advertisement means.
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