By Wendy Van Sickle
Columbus, Ohio, June 6 – Citigroup Global Markets Holdings Inc. priced $50 million of fixed-to-floating rate notes due July 3, 2023 linked to the one-year U.S. dollar SOFR ICE Swap Rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 2.36% per annum for the first month. After that, Interest will be equal to the swap rate plus 11.5 basis points. Interest will be payable monthly and cannot be less than 0% per annum.
The payout at maturity will be par.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Fixed-to-floating rate notes
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| Underlying index: | One-year U.S. dollar SOFR ICE Swap Rate
|
| Amount: | $50 million
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| Maturity: | July 3, 2023
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| Coupon: | 2.36% for first month, then swap rate plus 11.5 bps with floor of 0% per annum, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | May 31
|
| Settlement date: | June 3
|
| Agent: | Citigroup Global Markets Inc
|
| Fees: | 0.25%
|
| Cusip: | 17330P2L2
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