New Issue: Citigroup sells $2 billion 8.5% 10-year notes at Treasuries plus 562.5 bps without FDIC guarantee

By Andrea Heisinger

New York, May 15 - Citigroup, Inc. sold $2 billion of 8.5% 10-year notes Friday at a spread of 562.5 basis points over Treasuries without the backing of the Federal Deposit Insurance Corp., an informed source said.

Pricing matched talk for a spread of 562.5 bps.

The notes (A3/A/A+) priced at 98.259 to yield 8.765%. They are non-callable.

Bookrunner was Citigroup Global Markets. Senior co-managers were Barclays Capital, Deutsche Bank Securities, Goldman Sachs & Co. and RBS Securities. Junior co-managers were Blaylock Robert Van, BNP Paribas Securities, Cabrera Capital Markets, Credit Suisse Securities, NBF Securities, RBC Capital Markets, TD Securities, UBS Securities and Unicredit Capital Markets.

Proceeds will be used for general corporate purposes.

The financial services company is based in New York City.

Issuer:	Citigroup, Inc.
Issue:	Notes, not FDIC guaranteed
Amount:	$2 billion
Maturity:	May 22, 2019
Bookrunner:	Citigroup Global Markets
Senior co-managers:	Barclays Capital, Deutsche Bank Securities, Goldman Sachs & Co., RBS Securities
Junior co-managers:	Blaylock Robert Van, BNP Paribas Securities, Cabrera Capital Markets, Credit Suisse Securities, NBF Securities, RBC Capital Markets, TD Securities, UBS Securities, Unicredit Capital Markets
Coupon:	8.5%
Price:	98.259
Yield:	8.765%
Spread:	Treasuries plus 562.5 bps
Call:	Non-callable
Trade date:	May 15
Settlement date:	May 22
Ratings:	Moody's: A3
	Standard & Poor's: A
	Fitch: A+
Price talk:	562.5 bps area

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