By Tali Rackner
Minneapolis, Aug. 18 – Citigroup Inc. priced $3.5 million of fixed-to-floating notes due Aug. 18, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 2.2% for the first three years. After that, the rate will be Libor plus 100 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 Inc.
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Issue: | Fixed-to-floating notes
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Amount: | $3.5 million
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Maturity: | Aug. 18, 2022
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Coupon: | 2.2% initially; beginning Aug. 18, 2020, Libor plus 100 bps 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: | Aug. 15
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Settlement date: | Aug. 18
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.5%
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Cusip: | 17298CFH6
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