Citigroup to price floaters linked to 10-year CMS rate with 2% floor

By Toni Weeks

San Luis Obispo, Calif., April 28 - Citigroup Inc. plans to price floating-rate notes due May 2, 2021 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be paid quarterly at an annualized rate of 0.75 times the 10-year CMS rate, subject to a minimum rate of 2% per year.

The payout at maturity will be par.

The notes (Cusip: 1730T0Q28) are expected to price April 29 and settle three business days later.

Citigroup Global Markets Inc. is the underwriter.

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