By Wendy Van Sickle
Columbus, Ohio, Dec. 5 – Citigroup Global Markets Holdings Inc. priced $50 million of fixed-to-floating-rate notes due Dec. 1, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The interest rate is 6% for the first six months, then converts to the two-year U.S. Dollar SOFR ICE swap rate plus 65 basis points, subject to a floor of 3.5%. Interest is payable quarterly.
The payout at maturity will be par.
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-rate notes
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Amount: | $50 million
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Maturity: | Dec. 1, 2023
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Coupon: | 6% for first six months, then two-year U.S. Dollar SOFR ICE swap rate plus 65 bps, subject to a floor of 3.5%; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | Nov. 28
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Settlement date: | Dec. 1
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.22%
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Cusip: | 17340YRR3
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