Citigroup to price 10-year fixed-to-floaters tied to 10-year CMS rate

By Wendy Van Sickle

Columbus, Ohio, Jan. 22 – Citigroup Inc. plans to price fixed-to-floating notes due Jan. 29, 2016 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filed with the Securities and Exchange Commission.

Interest will be 4% for the first three years. After that, the rate will be the 10-year CMS rate, subject to a minimum rate of zero. Interest is payable quarterly.

The payout at maturity will be par plus accrued interest.

Citigroup Global Markets Inc. is the agent.

The notes will price on Jan. 26 and settle three business days later.

The Cusip number is 17298C6K9.

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