By Marisa Wong
Morgantown, W.Va., May 4 – Citigroup Global Markets Holdings Inc. priced $31.26 million of fixed-to-floating notes due May 3, 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.
The interest rate will be 4.06% initially. After Nov. 3, 2019, 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.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Fixed-to-floating notes
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Amount: | $31.26 million
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Maturity: | May 3, 2027
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Coupon: | 4.06% initially; after Nov. 3, 2019, 10-year CMS rate, floor of zero; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | April 26
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Settlement date: | May 3
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 2%
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Cusip: | 17324CHQ2
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