Citi to price seven-year fixed-to-floating notes with 2% initial rate

By Angela McDaniels

Tacoma, Wash., Nov. 4 – Citigroup Inc. plans to price fixed-to-floating notes due Nov. 28, 2023, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 2% for the first year. After that, the interest rate will be Libor plus 100 basis points. Interest will be payable quarterly and cannot be less than zero.

The payout at maturity will be par.

Citigroup Global Markets Inc. is the underwriter.

The notes will price Nov. 22.

The Cusip number is 17298CF45.

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