By Susanna Moon
Chicago, May 15 – Citigroup Inc. priced $15 million of fixed-to-floating notes due May 15, 2030 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 4% per year for the first five years. After that, it will be equal to the 10-year CMS rate. Interest is payable quarterly.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
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| Issue: | Fixed-to-floating notes
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| Underlying rate: | 10-year Constant Maturity Swap rate
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| Amount: | $15 million
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| Maturity: | May 15, 2030
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| Coupon: | 4% for first five years; after that, 10-year CMS rate; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | May 12
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| Settlement date: | May 15
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.25%
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| Cusip: | 17298CAF5
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