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Citigroup to price non-callable leveraged CMS spread floaters
By Marisa Wong
Morgantown, W.Va., Jan. 25 – Citigroup Global Markets Holdings Inc. plans to price non-callable floating-rate leveraged CMS spread notes due Jan. 31, 2028, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Interest will be 8 times the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate, subject to a maximum rate of 10%. 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 are expected to price on Jan. 26.
The Cusip number is 17324CR65.
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