By Wendy Van Sickle
Columbus, Ohio, May 20 – Citigroup Global Markets Holdings Inc. priced $3 million of fixed-to-floating notes due May 23, 2021 linked to the 30-year Constant Maturity Swap rate and the two-year Constant Maturity Swap rate, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest will be 4.25% for the first year. After that, the rate will be equal to the 30-year CMS rate minus the two-year CMS rate plus 120 basis points, subject to a minimum interest rate of 1.2% a year. Interest is payable quarterly.
The payout at maturity will be par plus accrued interest.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Fixed-to-floating notes
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Underlying rates: | 30-year CMS rate and two-year CMS rate
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Amount: | $3 million
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Maturity: | May 23, 2021
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Coupon: | 4.25% for first year; after that, 30-year CMS rate minus two-year CMS rate plus 120 bps, floor of 1.2%; payable quarterly
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Price: | Par
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Payout at maturity: | Par plus accrued interest
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Pricing date: | May 18
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Settlement date: | May 23
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17324C2J4
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