By Wendy Van Sickle
Columbus, Ohio, June 2 – Citigroup Global Markets Holdings Inc. priced $2.29 million of callable fixed-to-floating leveraged CMS spread notes due May 27, 2037, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The coupon will be 10% for the first two years. After that, it will be 10 times the CMS spread, subject to a minimum rate of 0.5% and a maximum rate of 20% per year. The CMS spread is the 30-year Constant Maturity Swap rate minus the two-year Constant Maturity Swap rate. Interest will be payable quarterly.
Beginning May 27, 2023, the notes will be callable at par on any coupon payment date.
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: | Callable fixed-to-floating leveraged CMS spread notes
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| Amount: | $2,292,000
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| Maturity: | May 27, 2037
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| Coupon: | 10% for the first two years; after that, 10 times the spread, subject to a minimum rate of 0.5% and a maximum rate of 20% per year; spread is 30-year Constant Maturity Swap rate minus two-year Constant Maturity Swap rate; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | Beginning May 27, 2023, at par on any coupon payment date
|
| Pricing date: | May 25
|
| Settlement date: | May 27
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 4%
|
| Cusip: | 17330FWM9
|
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