By Wendy Van Sickle
Columbus, Ohio, June 2 – Citigroup Inc. priced $2.95 million of fixed-to-floating rate notes due May 27, 2027 linked to the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 5% per annum for the first year. After that, Interest will be equal to the year-over-year change in the CPI. Interest will be payable monthly and cannot be less than 2.5% per annum.
The payout at maturity will be par.
Citigroup Global Markets Inc is the agent.
Issuer: | Citigroup Inc.
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Issue: | Fixed-to-floating rate notes
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Underlying index: | Consumer Price Index
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Amount: | $2.95 million
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Maturity: | May 27, 2027
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Coupon: | 5% for first year, then year-over-year change in CPI with floor of 2.5% per annum, payable monthly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | May 25
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Settlement date: | May 27
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Agent: | Citigroup Global Markets Inc
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Fees: | 1.5%
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Cusip: | 17290A6V7
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