Published on 5/30/2013 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $5.05 million fixed-to-floating notes with 1.6% initial rate
By Jennifer Chiou
New York, May 30 - Citigroup Inc. priced $5.05 million of fixed-to-floating notes due May 31, 2018, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 1.6% until May 31, 2014. After that, it will be Libor plus 40 basis points, subject to a maximum rate of 5%. Interest is payable quarterly.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Inc.
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Issue: | Fixed-to-floating notes
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Amount: | $5.05 million
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Maturity: | May 31, 2018
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Coupon: | Initially 1.6%; beginning on May 31, 2014, Libor plus 40 bps, subject to maximum rate of 5%; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | May 28
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Settlement date: | May 31
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.5%
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Cusip: | 1730T0TM1
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