By Wendy Van Sickle
Columbus, Ohio, Oct. 27 – Citigroup Inc. priced $5.5 million of non-callable fixed-to-floating-rate notes due Oct. 28, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2% for the first two years. After that, the interest rate will be Libor plus 100 basis points, subject to a minimum interest rate of zero. Interest is payable quarterly.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Non-callable fixed-to-floating-rate notes
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| Amount: | $5.5 million
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| Maturity: | Oct. 28, 2023
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| Coupon: | 2% for first two years; after that, Libor plus 100 bps, subject to minimum interest rate of zero; payable quarterly
|
| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | Oct. 25
|
| Settlement date: | Oct. 28
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17298CF29
|
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