By Sarah Lizee
Olympia, Wash., April 30 – Citigroup Inc. priced $7.45 million of fixed-to-floating notes due May 1, 2028 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 6.1% for the first two 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.
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Issue: | Fixed-to-floating notes
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Amount: | $7.45 million
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Maturity: | May 1, 2028
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Coupon: | 6.1% until May 1, 2020; after that, equal to the 10-year CMS rate, subject to a 0% floor; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Call option: | Non-callable
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Pricing date: | April 27
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Settlement date: | May 1
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.1%
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Cusip: | 17298CG77
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