By Wendy Van Sickle
Columbus, Ohio, March 1 – Citigroup Global Markets Holdings Inc. priced $2.42 million of callable fixed-to-floating leveraged SOFR CMS spread notes due Feb. 27, 2030, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The coupon will be 7% for the first two years. After that, it will be 15 times the CMS spread, subject to a minimum rate of 1.5% and a maximum rate of 30%. The CMS spread is the 30-year U.S. Dollar SOFR ICE swap rate minus the two-year U.S. Dollar SOFR ICE swap rate. Interest will be payable quarterly.
Beginning Feb. 27, 2024, the notes will be callable at par on any coupon payment date.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable fixed-to-floating leveraged SOFR CMS spread notes
|
| Amount: | $2,424,000
|
| Maturity: | Feb. 27, 2030
|
| Coupon: | 7% for the first two years; after that, 15 times the spread, subject to a minimum rate of 1.5% and a cap of 30%; spread is 30-year U.S. Dollar SOFR ICE swap rate minus two-year U.S. Dollar SOFR ICE swap rate; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | Beginning Feb. 27, 2024, at par on any coupon payment date
|
| Pricing date: | Feb. 23
|
| Settlement date: | Feb. 27
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17331CMW4
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
