By Susanna Moon
Chicago, July 10 – Citigroup Global Markets Holdings Inc. priced $850,000 of callable floating-rate leveraged CMS spread notes due Aug. 9, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
For the first two years, interest will be Libor plus 100 basis points. After that, interest will accrue at 6 times the spread of the 10-year U.S. dollar ICE swap rate over the two-year U.S. dollar ICE swap rate. 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 floating-rate leveraged CMS spread notes
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| Underlying index: | S&P 500
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| Amount: | $850,000
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| Maturity: | Aug. 9, 2022
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| Coupon: | Libor plus 100 bps initially; beginning Aug. 9, 2020, 6 times the spread of the 10-year U.S. dollar ICE swap rate over the two-year U.S. dollar ICE swap rate, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Call option: | At par on any interest payment date beginning Aug. 23, 2020
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| Pricing date: | Aug. 6
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| Settlement date: | Aug. 9
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17324CYY6
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