New Issue: Citigroup prices $1.5 billion add-on to subordinated notes due 2027 at Treasuries plus 233 bps

By Aleesia Forni

Virginia Beach, Oct. 26 – Citigroup Inc. priced a $1.5 billion add-on to its existing 4.45% subordinated notes (Baa3/BBB+/A-) due Sept. 29, 2027 at Treasuries plus 233 basis points on Friday, according to a FWP filed with the Securities and Exchange Commission.

Pricing was at 100.299 to yield 4.417%.

The original $2 billion issue sold on Sept. 23 at Treasuries plus 235 bps.

Citigroup Global Markets Inc. was the bookrunner.

The New York-based banking and financial services company worked exclusively with veteran-owned firms to syndicate the new issue.

Issuer:	Citigroup Inc.
Amount:	$1.5 billion
Description:	Add-on to subordinated notes
Maturity:	Sept. 29, 2027
Bookrunner:	Citigroup Global Markets Inc.
Senior co-managers:	Academy Securities, Inc., CAVU Securities, LLC, Drexel Hamilton, LLC, Mischler Financial Group, Inc., Multi-Bank Securities, Inc.
Coupon:	4.45%
Price:	100.299
Yield:	4.417%
Spread:	Treasuries plus 233 bps
Trade date:	Oct. 23
Settlement date:	Oct. 30
Ratings:	Moody’s: Baa3
	Standard & Poor’s: BBB+
	Fitch: A-
Distribution:	SEC-registered
Total issue size:	$3.5 billion

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