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Citigroup plans 4% fixed-to-floaters linked to 10-year CMS rate
By Tali Rackner
Minneapolis, July 25 – Citigroup Global Markets Holdings Inc. plans to price fixed- to floating-rate notes due Aug. 2, 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.
Interest will be 4% for the first two years. After that, the rate will be the 10-year CMS rate. Interest will be payable quarterly and cannot be less than zero.
The payout at maturity will be par plus accrued interest.
Citigroup Global Markets Inc. is the agent.
The notes will price on July 28.
The Cusip number is 17324CLA2.
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