U.S. Treasury to sell about $894 million Citigroup 4.05% subordinated notes due 2022 on Tuesday

By Andrea Heisinger

New York, Feb. 4 - The U.S. Department of the Treasury is selling $894 million of Citigroup Inc. subordinated notes (Baa3/BBB+/BBB+) due 2022, a market source said late on Monday.

The notes, which feature a maturity of 9.5 years, are expected to price in Tuesday's session at par with a yield of 4.05%, the market source said. The size had been announced early on Monday at about $900 million, the source said.

Settlement will be three days after pricing.

Citigroup Global Markets Inc. is global coordinator. Active bookrunners are Deutsche Bank Securities Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, UBS Securities LLC and Wells Fargo Securities LLC.

Passive bookrunners are Barclays, Bank of America Merrill Lynch, ING Financial Markets LLC, RBS Securities Inc. and SMBC Nikko Capital Markets Ltd.

The financial services company is based in New York City.

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