Citigroup to sell fixed-to-floating rate notes due January 2031

By Devika Patel

Knoxville, Tenn., Jan. 22 – Citigroup Inc. intends to price fixed-to-floating rate notes due January 2031, according to a 424B2 filed with the Securities and Exchange Commission.

Interest will accrue at a fixed rate until January 2030 and at a rate based on SOFR after that.

The notes are non-callable until July 2020 and are then callable with a make-whole call until January 2030, at which point the notes become callable at par.

Citigroup Global Markets Inc. is the bookrunner.

The New York-based financial services company plans to use the proceeds for general corporate purposes.

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