By Kiku Steinfeld
Chicago, July 5 – Citigroup Global Markets Inc. priced $15 million of callable range accrual notes due June 12, 2036 tied to six-month U.S. dollar Libor, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The interest rate, paid quarterly, is a 5.1% base rate multiplied by the number of London banking days in the applicable interest period when Libor is zero or positive but less than 4% divided by the total number of London banking days in the applicable interest period.
The interest rate will not be greater than 5.1% or less than zero.
The payout at maturity will be par plus any interest.
Beginning June 2020 and ending in March 2036, the notes will be callable at par plus interest on any interest payment date.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable range accrual notes
|
| Underlying rate: | Six-month U.S. dollar Libor
|
| Amount: | $15 million
|
| Maturity: | June 12, 2036
|
| Coupon: | 5.1% base rate multiplied by the number of London banking days in the applicable interest period when Libor is zero or positive but less than 4% divided by the total number of London banking days in the applicable interest period, paid quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus any interest
|
| Call option: | At par plus any interest on any quarterly interest payment date starting in June 2020 and ending in March 2036
|
| Base rate: | 5.1%
|
| Accrual barrier: | 4%
|
| Pricing date: | June 10
|
| Settlement date: | June 12
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17326YBH8
|
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