Citigroup plans to sell fixed-to-floating, floating-rate notes

By Devika Patel

Knoxville, Tenn., Oct. 28 – Citigroup Inc. will conduct a two-tranche offering of fixed-to-floating rate notes and floating-rate notes due 2022, according to 424B2 filings with the Securities and Exchange Commission.

The fixed-to-floaters will initially have a fixed coupon and then an interest rate based on Libor. The floaters will accrue interest at a rate based on a spread over Libor.

The fixed-to-floaters have a make-whole call and then a par call, and the floaters have a par call in November 2021 and beginning in October 2022.

Citigroup Global Markets Inc. is the bookrunner.

Proceeds will be used for general corporate purposes.

Citigroup is a New York-based bank.

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