By Wendy Van Sickle
Columbus, Ohio, May 2 – Citigroup Global Markets Holdings Inc. priced $1.5 million of fixed-to-floating notes due April 28, 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 4.05% for the first two years. After that, the interest rate will be equal to the 10-year CMS rate plus 10 basis points. 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.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Fixed-to-floating notes
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| Amount: | $1.5 million
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| Maturity: | April 28, 2027
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| Coupon: | 4.05% for the first two years; after that, 10-year CMS rate plus 10 basis points with floor of zero; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | April 25
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| Settlement date: | April 28
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17324CHZ2
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