By William Gullotti
Buffalo, N.Y., March 21 – Citigroup Inc. priced $30 million of floating rate notes due March 18, 2031 based on SOFR, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly at a rate equal to daily-compounded SOFR plus a spread of 115 basis points, subject to a floor of 0.1%.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
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| Issue: | Floating rate notes
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| Underlying rate: | SOFR
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| Amount: | $30 million
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| Maturity: | March 18, 2031
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| Coupon: | SOFR plus 115 bps, subject to 0.1% floor; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | March 14
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| Settlement date: | March 18
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.5%
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| Cusip: | 17290A4B3
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