By Sarah Lizee
Olympia, Wash., April 30 – Citigroup Inc. priced $4.1 million of fixed-to-floating notes due May 1, 2028 linked to 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 5.1% for the first three years. After that, interest will be equal to the 10-year CMS rate, subject to a minimum interest rate of 0%. Interest will be payable quarterly.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Inc.
|
| Issue: | Fixed-to-floating notes
|
| Underlying rate: | 10-year Constant Maturity Swap rate
|
| Amount: | $4.1 million
|
| Maturity: | May 1, 2028
|
| Coupon: | 5.1% until May 1, 2021; after that, equal to the 10-year CMS rate, subject to a 0% floor; payable quarterly
|
| Price: | Par
|
| Call option: | Non-callable
|
| Payout at maturity: | Par
|
| Pricing date: | April 27
|
| Settlement date: | May 1
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17298CG69
|
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