By Kiku Steinfeld
Chicago, April 4 – Citigroup Global Markets Holdings Inc. priced $914,000 of callable fixed-to-floating rate leveraged CMS spread notes due Sept. 29, 2033, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly fixed coupon at 4% per year for the first year.
After the first year, it will accrue at an annual rate of 4 times the 30-year Constant Maturity Swap rate minus the two-year Constant Maturity Swap rate up to a maximum rate of 8% and a floor of zero.
The notes can be called at par on any quarterly coupon date after one year.
If the notes are not called, the payout at maturity will be par plus any accrued interest.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Callable fixed-to-floating rate leveraged CMS spread notes
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| Underlying assets: | 30-year Constant Maturity Swap rate, two-year Constant Maturity Swap rate
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| Amount: | $914,000
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| Maturity: | Sept. 29, 2033
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| Price: | Par
|
| Coupon: | 4% annually, payable quarterly, for first year; after that, at 4 times spread of 30-year CMS rate minus the two-year CMS rate up to maximum rate of 8% and floor of 0%, payable quarterly
|
| Payout at maturity: | Par plus any interest
|
| Call option: | Callable quarterly at par after one year
|
| Pricing date: | Sept. 24
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| Settlement date: | Sept. 29
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 17329QQS2
|
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