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Citigroup plans 4.125% fixed-to-floaters linked to 10-year CMS rate
By Susanna Moon
Chicago, April 24 – Citigroup Global Markets Holdings Inc. plans to price fixed-to-floating notes due April 28, 2027 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Interest will be 4.125% for the first three years. After that, the interest rate will be equal to the 10-year CMS rate. Interest will be payable quarterly and cannot be less than zero.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the agent.
The notes will price on April 25.
The Cusip number is 17324CH41.
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