By Susanna Moon
Chicago, June 27 – Citigroup Global Markets Holdings Inc. priced $3.75 million of callable fixed-to-floating leveraged CMS spread notes due June 27, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be fixed at 5.5% for the first year. After that, it will accrue at 25 times the spread of the 30-year U.S. dollar ICE swap rate over the two-year U.S. dollar ICE swap rate, up to a maximum interest rate of 10%. Interest will be payable monthly and cannot be less than zero.
The notes are redeemable at par on any payment date after one year.
The payout at maturity will be par.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Callable fixed-to-floating leveraged CMS spread notes
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| Amount: | $3.75 million
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| Maturity: | June 27, 2025
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| Coupon: | 5.5% initially; beginning June 27, 2019, 25 times spread of 30-year U.S. dollar ICE swap rate minus two-year U.S. dollar ICE swap rate, capped at 10%; payable monthly
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| Price: | Par
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| Payout at maturity: | Par
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| Call: | At par on any coupon payment date beginning June 27, 2019
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| Pricing date: | June 22
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| Settlement date: | June 27
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
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| Cusip: | 17324CW51
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