By Wendy Van Sickle
Columbus, Ohio, March 9 – Citigroup Global Markets Holdings Inc. priced $8.5 million of callable fixed- to floating-rate leveraged CMS spread range accrual notes due March 10, 2037, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The coupon will be 10% for the first year. After that, it will accrue at 7.5 times the 30-year Constant Maturity Swap rate minus the two-year CMS rate for each day the index closes above 75% of its initial level, subject to a minimum rate of zero and a maximum rate of 10% per year.
Interest will be payable quarterly.
The notes are redeemable at par plus any coupon due after one year.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Callable fixed- to floating-rate leveraged CMS spread range accrual notes
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| Underlying index: | S&P 500
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| Amount: | $8.5 million
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| Maturity: | March 10, 2037
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| Coupon: | 10% for the first year; after that, 7.5 times 30-year CMS rate minus two-year CMS rate for each day index closes above accrual barrier, subject to a minimum rate of zero and a maximum rate of 10% per year; payable quarterly
|
| Price: | Par
|
| Call option: | At par plus any coupon due after one year
|
| Payout at maturity: | Par, plus any coupon due
|
| Initial index level: | 2,368.39
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| Accrual barrier: | 1,776.293, 75% of the initial index level
|
| Pricing date: | March 7
|
| Settlement date: | March 10
|
| Agent: | Citigroup Global Markets Inc.
|
| Fee: | 4.33824%
|
| Cusip: | 17324CFX9
|
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