By Sarah Lizee
Olympia, Wash., April 18 – Citigroup Global Markets Holdings Inc. priced $2.25 million of callable fixed-to-floating notes due April 18, 2023 linked to the leveraged difference between the 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.
Interest will be 5% until April 18, 2019. After that, the rate will be equal to 18.5 times the spread of the 30-year CMS 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.
The notes are callable quarterly in whole at par beginning April 18, 2019.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Issue: | Callable fixed-to-floating notes
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| Amount: | $2.25 million
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| Maturity: | April 18, 2023
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| Coupon: | 5% until April 18, 2019; after that, equal to 18.5 times the spread of the 30-year CMS rate over the two-year CMS rate, subject to a maximum rate of 10% and floor of 0%; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | April 16
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| Settlement date: | April 18
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17324CTV8
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