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Citigroup plans to price 20-year callable leveraged CMS curve notes
By Susanna Moon
Chicago, Aug. 29 – Citigroup Inc. plans to price callable leveraged CMS curve notes due Sept. 29, 2034, according to a 424B2 filing with the Securities and Exchange Commission on Tuesday.
The coupon will be 10% for the first year. After that, it will be the 30-year Constant Maturity Swap rate minus the two-year CMS rate minus 25 basis points, up to a maximum rate of 10% per year. Interest will be payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes will be callable at par on any coupon payment date after one year.
Citigroup Global Markets Inc. is the agent.
The notes will price on Sept. 24.
The Cusip number is 1730T0X46.
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