By Sarah Lizee
Olympia, Wash., March 19 – Citigroup Global Markets Holdings Inc. priced $3 million of callable floating-rate notes due March 20, 2028 linked to the leveraged difference between the 30-year Constant Maturity Swap rate and the two-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be equal to 14 times the spread of the 30-year CMS rate over the two-year CMS rate, subject to a maximum rate of 10%. Interest will be payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes are callable quarterly in whole at par beginning March 20, 2019.
The notes will be guaranteed by Citigroup Inc.
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: | Callable floating-rate 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: | March 20, 2028
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| Coupon: | 14 times the spread of the 30-year CMS rate over the two-year CMS rate, subject to a maximum rate of 10% and floor of 0%; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | March 15
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| Settlement date: | March 20
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
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| Cusip: | 17324CSP2
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