By Susanna Moon
Chicago, June 2 – Citigroup Global Markets Holdings Inc. priced $3.1 million of fixed-to-floating notes due May 26, 2022 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 2.2% for the first two years. After that, the rate will be the 10-year CMS rate plus a spread of 10 basis points. Interest will be payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes will be guaranteed by Citigroup Inc.
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: | $3.1 million
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| Maturity: | May 26, 2022
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| Coupon: | 2.2% initially; beginning May 26, 2019, 10-year CMS rate plus 10 bps; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | May 23
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| Settlement date: | May 26
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17324CJK3
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