By Jennifer Chiou
New York, Dec. 10 - Citigroup Inc. priced $8,226,000 of floating-rate notes due Dec. 11, 2024 linked to the Consumer Price Index, according to an FWP with the Securities and Exchange Commission.
The interest rate will equal the year-over-year change in the index plus 132 basis points, subject to a minimum interest rate of zero. Interest will be payable monthly.
The year-over-year change will be measured from the index level for the month that it 15 months prior to the month of the relevant interest payment date to the month that is three months prior to the month of the relevant interest payment date.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Inc.
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Issue: | Floating-rate notes
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Underlying index: | Consumer Price Index
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Amount: | $8,226,000
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Maturity: | Dec. 11, 2024
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Coupon: | Year-over-year change in index plus 132 bps, floor of zero; payable monthly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | Dec. 6
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Settlement date: | Dec. 11
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.25%
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Cusip: | 1730T0D55
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