By William Gullotti
Buffalo, N.Y., March 30 – Citigroup Global Markets Holdings Inc. priced $4.5 million of floating rate notes due March 28, 2063 linked to SOFR, according to a 424B2 filing with the Securities and Exchange Commission.
Citigroup Inc. is the guarantor.
Interest is payable quarterly at a rate equal to SOFR plus a spread of 10 basis points, subject to a floor of 0%.
Holders may require the issuer to repurchase the notes on an annual basis, starting March 28, 2027 at 98. The repurchase amount steps up to par on March 28, 2044.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Floating rate notes
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| Underlying rate: | SOFR
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| Amount: | $4.5 million
|
| Maturity: | March 28, 2063
|
| Coupon: | SOFR plus 10 bps, subject to 0% floor; payable quarterly
|
| Price: | Par
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| Payout at maturity: | Par
|
| Put option: | Annually starting March 28, 2027 at 98 through March 28, 2043; amount steps up to par starting March 28, 2044
|
| Pricing date: | March 24
|
| Settlement date: | March 28
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17331HEN2
|
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