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Citigroup plans to price 10-year floaters linked to 10-year CMS rate
By Marisa Wong
Madison, Wis., Feb. 18 - Citigroup Inc. plans to price floating-rate notes due Feb. 27, 2024 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will equal the 10-year CMS rate times 0.86, subject to a minimum interest rate of 2%. Interest will be payable quarterly.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the underwriter.
The notes are expected to price Feb. 24.
The Cusip number is 1730T0K32.
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