By Wendy Van Sickle
Columbus, Ohio, Sept. 27 – Citigroup Global Markets Holdings Inc. priced $50 million of fixed-to-floating rate notes due Sept. 26, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly fixed coupon at 5% per year to but excluding March 26, 2023.
After that, it will accrue at an annual rate of two-Year U.S. Dollar SOFR ICE swap rate plus 100 basis points, subject to a floor of 3% per annum.
The payout at maturity will be par plus any accrued interest.
Citigroup Inc. guarantees the notes.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Fixed-to-floating rate notes
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| Amount: | $50 million
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| Maturity: | Sept. 26, 2024
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| Price: | Par
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| Coupon: | 5% annually, payable quarterly to but excluding March 26, 2023; after that, two-Year U.S. Dollar SOFR ICE swap rate plus 100 bps with floor of 3% per annum, payable quarterly
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| Payout at maturity: | Par plus any interest
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| Pricing date: | Sept. 22
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| Settlement date: | Sept. 26
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.2%
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| Cusip: | 17330RGW9
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