Citibank plans 20-year callable CMS spread range market-linked CDs

By Susanna Moon

Chicago, April 4 - Citibank, NA plans to price callable CMS spread range accrual market-linked certificates of deposit due 2031, according to a term sheet.

The coupon will be 3% for the first two years. After that, the rate will be 5.75% per year multiplied by the proportion of days on which the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate is at least zero. Interest will be payable quarterly.

The payout at maturity will be par.

The CDs will be callable at par on any interest payment date beginning 2012.

Citigroup Global Markets Inc. is the underwriter. Advisors Asset Management, Inc. is the distributor.

The Cusip is 172986CX7.

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