Citigroup plans to price putable floating-rate notes due 2058 on Libor

By Sarah Lizee

Olympia, Wash., April 16 – Citigroup Global Markets Holdings Inc. plans to price putable floating-rate notes due April 22, 2058, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

Interest will be equal to Libor minus a spread of 28 basis points to 30 bps, to be determined on the pricing date, subject to a minimum interest rate of 0% per year. Interest will be payable quarterly.

The payout at maturity will be par.

The notes are putable beginning on April 20, 2020 and every year after that. The redemption price will be 98 to 98.5 from April 20, 2020 to April 20, 2028, 99 to 99.5 from April 20, 2029 to April 20, 2038 and par after that. The exact redemption prices will be determined on the pricing date.

Citigroup Global Markets Inc. is the agent.

The notes are expected to price on April 17 and settle on April 20.

The Cusip number is 17324CUC8.

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