New Issue: Citi prices $10.59 million range accrual notes with 3.5% initial rate

By Susanna Moon

Chicago, March 28 - Citigroup Inc. priced $10.59 million of fixed-to-float range accrual notes due March 28, 2021 linked to Libor, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be fixed at 3.5% for the first three years. After that, it will accrue at Libor plus 100 basis points for each day that Libor is 4% or less. Interest will be payable quarterly.

The payout at maturity will be par.

Citigroup Global Markets Inc. is the agent.

Issuer:	Citigroup Inc.
Issue:	Fixed-to-float range accrual notes
Amount:	$10,585,000
Maturity:	March 28, 2021
Coupon:	3.5% initially; beginning March 28, 2017, Libor plus 100 bps for each day that Libor is 4% or less; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	March 25
Settlement date:	March 28
Agent:	Citigroup Global Markets Inc.
Fees:	1.5%
Cusip:	1730T0L72

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