New Issue: Citigroup details $5 billion sale of three-, 10-year notes in three parts

By Sheri Kasprzak

New York, April 23 – Citigroup Inc. released details on its combined $5 billion of senior notes (Baa2/A-/A) in three tranches that priced on Wednesday, according to a term sheet filed with the Securities and Exchange Commission.

The New York-based investment bank sold $2.5 billion of 1.7% three-year senior notes at 99.683 to yield 1.809%, or 92 basis points over Treasuries.

The issuer sold $1.5 billion of 3.3% 10-year notes at 99.814 to yield 3.322%, or 135 bps over Treasuries.

Citigroup priced $1 billion three-year floating-rate senior notes at par to yield Libor plus 69 bps.

Citigroup Global Markets Inc. was the bookrunner for all three tranches.

Issuer:	Citigroup Inc.
Issue:	Senior and floating-rate notes
Amount:	$5 billion
Ratings:	Moody’s: Baa2
	Standard & Poor’s: A-
	Fitch: A
Pricing date:	April 22
Settlement date:	April 27
Three-year fixed-rate notes
Amount:	$2.5 billion
Issue:	Senior notes
Maturity:	April 27, 2018
Bookrunner:	Citigroup Global Markets Inc.
Co-senior managers:	ABN Amro Securities (USA) LLC, BNP Paribas Securities Corp., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Lloyds Securities Inc., Nykredit Bank A/S, Santander Investment Securities Inc., Wells Fargo Securities, LLC
Co-managers:	Academy Securities Inc., BB Securities Ltd., BMO Capital Markets Corp., Capital One Securities Inc., CIBC World Markets Corp., Drexel Hamilton, LLC, Fifth Third Securities Inc., Loop Capital Markets LLC, MFR Securities Inc., MUFG, Multi-Bank Securities Inc., RBC Capital Markets LLC, Siebert Brandford Shank & Co. LLC, Skandinaviska Enskilda Banken AB (publ), Standard Chartered Bank, SunTrust Robinson Humphrey Inc., Huntington Investment Co., Williams Capital Group LP
Coupon:	1.7%
Price:	99.683
Yield:	1.809%
Spread:	92 bps over Treasuries
10-year notes
Amount:	$1.5 billion
Issue:	Senior notes
Maturity:	April 27, 2025
Bookrunner:	Citigroup
Co-senior managers:	Banca IMI SpA, Barclays, Credit Agricole Securities (USA) Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co., ING Financial Markets LLC, Natixis Securities Americas LLC, RBS Securities Inc.
Co-managers:	ANZ Securities Inc., BBVA Securities Inc., Blaylock Beal Van LLC, C.L. King & Associates Inc., Cabrera Capital Markets LLC, CastleOak Securities LP, Commerz Markets LLC, Great Pacific Securities, Lebenthal & Co. LLC, Mischler Financial Group Inc., nabSecurities LLC, National Bank of Canada Financial Inc., Nomura Securities International Inc., RB International Markets (USA) LLC, Samuel A. Ramirez & Co. Inc., Scotia Capital (USA) Inc., SMBC Nikko Securities America Inc., TD Securities (USA) LLC
Coupon:	3.3%
Price:	99.814
Yield:	3.322%
Spread:	135 bps over Treasuries
Three-year floaters
Amount:	$1 billion
Issue:	Floating-rate notes
Maturity:	April 27, 2018
Bookrunner:	Citigroup
Co-senior managers:	ABN Amro, BNP Paribas, Deutsche Bank, HSBC Securities, Lloyds Securities, Nykredit Bank, Santander Investment Securities, Wells Fargo Securities
Co-managers:	Academy Securities, BB Securities, BMO Capital Markets, Capital One Securities, CIBC World Markets, Drexel Hamilton, Fifth Third Securities, Loop Capital Markets, MFR Securities, MUFG, Multi-Bank Securities, RBC Capital Markets, Siebert Brandford Shank, Skandinaviska Enskilda Banken, Standard Chartered Bank, SunTrust Robinson Humphrey, Huntington Investment, Williams Capital Group
Coupon:	Libor plus 69 bps
Price:	100
Yield:	Libor plus 69 bps

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