By Wendy Van Sickle
Columbus, Ohio, July 6 – Citigroup Global Markets Holdings Inc. priced $15 million of fixed-to-floating notes due July 6, 2027 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 4.25% for the first three years. After that, the rate will be the 10-year CMS rate. Interest will be payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent with Morgan Stanley Wealth Management as dealer.
| 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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| Amount: | $15 million
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| Maturity: | July 6, 2027
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| Coupon: | 4.25% initially; beginning July 6, 2020, 10-year CMS rate with floor of zero; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Underwriter: | Citigroup Global Markets Inc. with Morgan Stanley Wealth Management as dealer
|
| Fees: | 1.25%
|
| Cusip: | 17324CKB1
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