By Sarah Lizee
Olympia, Wash., March 26 – Citigroup Inc. priced $7.36 million of non-callable fixed-to-floating notes due March 20, 2030, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 3% for the first two years. After that, the interest rate will be equal to Libor plus a spread of 62 basis points, subject to a floor of 0%. Interest is payable quarterly.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Non-callable fixed-to-floating notes
|
| Underlying rate: | Libor
|
| Amount: | $7.36 million
|
| Maturity: | March 20, 2030
|
| Coupon: | 3% for the first two years; after that, the interest rate will be equal to Libor plus a spread of 62 bps, subject to a floor of 0%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | March 18
|
| Settlement date: | March 20
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.5%
|
| Cusip: | 17298CJ82
|
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