By Susanna Moon
Chicago, Oct. 3 – Citigroup Global Markets Holdings Inc. priced $12.02 million of fixed-to-floating notes due Sept. 26, 2028 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be fixed at 5% for the first two years. After that, it will accrue at a rate equal to the 10-year Constant Maturity Swap rate plus 37 basis points. Interest will be payable quarterly and cannot be less than zero.
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: | Fixed-to-floating notes
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| Underlying: | 10-year Constant Maturity Swap
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| Amount: | $12,024,000
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| Maturity: | Sept. 26, 2028
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| Coupon: | 5% initially; beginning in Sept. 26, 2020, equal to 10-year Constant Maturity Swap plus 37 bps, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | Sept. 24
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| Settlement date: | Sept. 26
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17298CGD4
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