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Citi plans fixed-to-floaters on 10-year CMS rate with 4.1% start rate
By Susanna Moon
Chicago, March 17 – Citigroup Global Markets Holdings Inc. plans to price fixed-to-floating notes due March 31, 2027 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The interest rate will be 4.1% for the first three years. After that, the interest rate will be equal to the 10-year CMS rate. Interest will be 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 March 28.
The Cusip number is 17324CGJ9.
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