By Wendy Van Sickle
Columbus, Ohio, Sept. 28 – Citigroup Global Markets Holdings Inc. priced $8 million of fixed-to-floating notes due Sept. 29, 2027, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The interest rate will be 5% for the first year. After that, the interest rate will be Libor plus a spread of 100 basis points, up to a maximum interest rate of 6%. 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: | Non-callable fixed-to-floating notes
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| Amount: | $8 million
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| Maturity: | Sept. 29, 2027
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| Coupon: | 5% for the first year; after that, Libor plus a spread of 100 basis with a 6% cap and 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: | Sept. 26
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| Settlement date: | Sept. 29
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.55%
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| Cusip: | 17324CMK9
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