New Issue: Citigroup prices $5 million noncallable fixed-to-floating notes with 2.3% initial rate

By Toni Weeks

San Luis Obispo, Calif., June 18 - Citigroup Inc. priced $5 million of noncallable fixed-to-floating notes due June 19, 2023, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 2.3% for the first two years. After that it will be equal to Libor plus 100 basis points, subject to a maximum rate of 7%.

Interest is payable quarterly and cannot be less than zero.

The payout at maturity will be par.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Inc.
Issue:	Noncallable fixed-to-floating notes
Amount:	$5,005,000
Maturity:	June 19, 2023
Coupon:	Initially 2.3%; beginning June 19, 2015, Libor plus 100 bps, with a maximum rate of 7%, floor of 0%; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	June 14
Settlement date:	June 19
Underwriter:	Citigroup Global Markets Inc.
Fees:	1%, used for selling concessions
Cusip:	1730T0TV1

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