Citigroup to price five-year range accrual notes linked to Libor

By Angela McDaniels

Tacoma, Wash., July 16 – Citigroup Inc. plans to price range accrual notes due Aug. 3, 2020 linked to Libor, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be the contingent rate multiplied by the proportion of days on which Libor is 2.9% or less. The contingent rate is expected to be 2.6% to 2.7% per year and will be set at pricing. Interest will be payable quarterly.

The payout at maturity will be par.

Citigroup Global Markets Inc. is the underwriter.

The notes are expected to price July 28 and settle Aug. 3.

The Cusip number is 17298CCZ9.

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