By Jennifer Chiou
New York, Feb. 27 - Citigroup Inc. priced $3 million of floating-rate notes due Feb. 27, 2024 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will equal the 10-year CMS rate times 0.86, subject to a minimum interest rate of 2%. Interest will be payable quarterly.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Floating-rate notes
|
| Underlying rate: | 10-year Constant Maturity Swap rate
|
| Amount: | $3 million
|
| Maturity: | Feb. 27, 2024
|
| Coupon: | 10-year CMS rate times 0.86, subject to 2% floor; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Feb. 24
|
| Settlement date: | Feb. 27
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.5%
|
| Cusip: | 1730T0K32
|
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