By Andrea Heisinger
New York, May 28 - Citigroup Inc. sold $5 billion of notes (Aaa/AAA/AAA) in four tranches late Thursday with the guarantee of the Federal Deposit Insurance Corp., a source said.
The $1.4 billion of 1.25% two-year notes priced at 99.828 to yield 1.338%, or Treasuries plus 38.4 basis points.
The $1.3 billion of 1.875% three-year notes priced at 99.699 to yield 1.979%, or Treasuries plus 48 bps.
A $1.1 billion tranche of two-year floating-rate notes priced at par to yield three-month Libor minus 5 bps.
The final tranche was $1.2 billion of three-year floaters priced at par to yield three-month Libor minus 3 bps.
All of the tranches are non-callable.
Citigroup Global Markets Inc. was the bookrunner.
The bank holding and financial services company is based in New York City.
| Issuer: | Citigroup Inc.
|
| Guarantor: | Federal Deposit Insurance Corp.
|
| Issue: | FDIC-backed notes
|
| Total amount: | $5 billion
|
| Bookrunner: | Citigroup Global Markets Inc.
|
| Call: | Non-callable
|
| Trade date: | May 28
|
| Settlement date: | June 4
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
|
|
| Two-year fixed-rate notes
|
| Amount: | $1.4 billion
|
| Maturity: | June 3, 2011
|
| Coupon: | 1.25%
|
| Price: | 99.828
|
| Yield: | 1.338%
|
| Spread: | Treasuries plus 38.4 bps
|
|
|
| Three-year fixed-rate notes
|
| Amount: | $1.3 billion
|
| Maturity: | June 4, 2012
|
| Coupon: | 1.875%
|
| Price: | 99.699
|
| Yield: | 1.979%
|
| Spread: | Treasuries plus 48 bps
|
|
|
| Two-year floaters
|
| Amount: | $1.1 billion
|
| Maturity: | June 3, 2011
|
| Coupon: | Three-month Libor minus 5 bps
|
| Price: | Par
|
| Yield: | Three-month Libor minus 5 bps
|
|
|
| Three-year floaters
|
| Amount: | $1.2 billion
|
| Maturity: | June 4, 2012
|
| Coupon: | Three-month Libor minus 3 bps
|
| Price: | Par
|
| Yield: | Three-month Libor minus 3 bps
|
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