By William Gullotti
Buffalo, N.Y., July 24 – Citigroup Global Markets Holdings Inc. priced $9.39 million of floating rate notes due July 25, 2063 linked to SOFR, according to a 424B2 filing with the Securities and Exchange Commission.
Citigroup Inc. is the guarantor.
Interest is payable quarterly at a rate equal to SOFR, subject to a floor of 0%.
Holders may require the issuer to repurchase the notes on an annual basis starting July 25, 2025 at 97. The put price steps up to 98 on July 25, 2026, to 99 on July 25, 2027 and to par starting July 25, 2028.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Floating rate notes
|
| Underlying rate: | SOFR
|
| Amount: | $9.39 million
|
| Maturity: | July 25, 2063
|
| Coupon: | SOFR, subject to 0% floor; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Put option: | Annually starting July 25, 2025 at 97; repurchase amount steps up 98 on July 25, 2026, to 99 on July 25, 2027 and to par starting July 25, 2028
|
| Pricing date: | July 20
|
| Settlement date: | July 25
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17291RN57
|
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