Citigroup plans non-callable fixed-to-floaters on three-month Libor

By Wendy Van Sickle

Columbus, Ohio, Oct. 14 – Citigroup Global Markets Holdings Inc. plans to price non-callable fixed-to-floating-rate notes due Oct. 28, 2023 linked to three-month Libor, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

The coupon will be fixed at an annualized rate of 2% for the first two years. After that, it will be equal to Libor plus 90 basis points to 110 bps, with a floor of zero. Interest is payable quarterly.

The payout at maturity will be par.

Citigroup Global Markets Inc. is the underwriter.

The notes will price Oct. 25.

The Cusip number is 17298CF29.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.