Chicago, Jan. 27 – Citigroup Global Markets Holdings Inc. priced $50 million of fixed-to-floating rate notes due Jan. 27, 2023 linked to SOFR, according to a 424B2 filing with the Securities and Exchange Commission.
Citigroup Inc. is the guarantor.
The interest rate is 0.4% per year initially. Beginning on July 27, the interest rate is SOFR plus a spread of 30 basis points, subject to a floor of 0%. Interest is payable quarterly.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Fixed-to-floating rate notes
|
| Underlying rate: | SOFR
|
| Amount: | $50 million
|
| Maturity: | Jan. 27, 2023
|
| Coupon: | 0.4% per year until July 27; then SOFR plus 30 bps, with floor of 0%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Jan. 21
|
| Settlement date: | Jan. 27
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | None
|
| Cusip: | 17328YKX1
|
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