By Angela McDaniels
Tacoma, Wash., May 26 – Citigroup Inc. priced $12 million of fixed-to-floating-rate notes due May 27, 2025 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 3.5% for the first three years. After that, the interest rate will be equal to the 10-year CMS rate. Interest is payable quarterly.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Fixed-to-floating-rate notes
|
| Underlying rate: | 10-year Constant Maturity Swap rate
|
| Amount: | $12 million
|
| Maturity: | May 27, 2025
|
| Coupon: | 3.5% for first three years; after that, 10-year CMS rate; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | May 21
|
| Settlement date: | May 27
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.5%
|
| Cusip: | 17298CAT5
|
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