Citigroup plans 10-year fixed-to-floating notes on 10-year CMS rate

New York, Oct. 5 – Citigroup Inc. plans to price fixed-to-floating notes due Oct. 28, 2025, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be fixed at 3.5% for the first three years. Starting on Oct. 28, 2018, it will be equal to the 10-year Constant Maturity Swap rate. Interest is payable quarterly and cannot be less than zero.

The payout at maturity will be par.

Citigroup Global Markets Inc. is the agent.

The notes will price on Oct. 23 and settle three business days later.

The Cusip number is 17298C3F3.

The estimated initial value of the notes is expected to be between $975.00 and $995.00 per $1,000 principal amount.

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