By Sarah Lizee
Olympia, Wash., April 2 – Citigroup Global Markets Holdings Inc. priced $6.5 million of fixed-to-floating notes due April 3, 2028 linked to 30-year Constant Maturity Swap rate and the two-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest will be 7% for the first year. Beginning April 3, 2019, interest will be equal to 16 times the spread of the 30-year CMS rate minus the two-year CMS rate, subject to a maximum interest rate of 15% and a minimum interest rate of 0%. Interest will be payable quarterly.
The notes are callable in whole at par on any interest payment date beginning on April 3, 2019.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Issue: | Fixed-to-floating notes
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| Amount: | $6.5 million
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| Maturity: | April 3, 2028
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| Coupon: | 7% for the first year; beginning April 3, 2019, 16 times the spread of the 30-year CMS rate minus the two-year CMS rate, subject to a maximum interest rate of 15% and a minimum interest rate of 0%; payable quarterly
|
| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | March 29
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| Settlement date: | April 3
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.5% for Citigroup Global Markets Inc., 0.5% for Morgan Stanley Wealth Management
|
| Cusip: | 17324CTB2
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