By Wendy Van Sickle
Columbus, Ohio, May 15 – Citigroup Global Markets Holdings Inc. priced $27.36 million of putable floating-rate notes due May 14, 2069, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Interest will be equal to Libor minus a spread of 35 basis points, subject to a minimum interest rate of 0% per year. Interest will be payable quarterly.
The payout at maturity will be par.
The notes are putable beginning on May 14, 2020 and every six months after that. The redemption price will be 98 from May 14, 2020 through Nov. 14, 2024, 99 from May 14, 2025 through Nov. 14, 2030 and par after that.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Putable floating-rate notes
|
| Amount: | $27,356,000
|
| Maturity: | May 14, 2069
|
| Coupon: | Libor minus a spread of 35 bps, subject to a 0% floor; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Put option: | Semiannually starting May 14, 2020 and every six months after that. The redemption price will be 98 from May 14, 2020 through Nov. 14, 2024, 99 from May 14, 2025 through Nov. 14, 2030 and par after that
|
| Pricing date: | May 9
|
| Settlement date: | May 14
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17326YKX3
|
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