By Sarah Lizee
Olympia, Wash., Nov. 14 – Citigroup Inc. priced $10 million of non-callable fixed-to-floating notes due Nov. 15, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 3.2% for the first year. After that, the interest rate will be equal to Libor plus a spread of 50 basis points, subject to a floor of 3.2% and a cap of 4%. Interest is payable quarterly.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Non-callable fixed-to-floating notes
|
| Underlying rate: | Libor
|
| Amount: | $10 million
|
| Maturity: | Nov. 15, 2021
|
| Coupon: | 3.2% for first year; after that, Libor plus 50 bps, floor of 3.2%, cap of 4%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Nov. 13
|
| Settlement date: | Nov. 15
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.26%
|
| Cusip: | 17298CGH5
|
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