By Susanna Moon
Chicago, Dec. 11 – Citigroup Global Markets Holdings Inc. priced $10 million of fixed-to-floating-rate notes linked to the 10-Year CMS rate due Nov. 20, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be fixed at 4.125% for the first two years. After that, it will equal the 10-Year CMS rate. Interest will be payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Fixed-to-floating notes
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| Underlying rate: | 10-Year CMS rate
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| Amount: | $10 million
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| Maturity: | Nov. 20, 2023
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| Coupon: | 4.125% initially; beginning Nov. 20, 2020, equal to 10-Year CMS rate, with floor of zero, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | Nov. 15
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| Settlement date: | Nov. 20
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.5%
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| Cusip: | 17298CGK8
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