By Wendy Van Sickle
Columbus, Ohio, Aug. 6 – Citigroup Global Markets Holdings Inc. priced $5.04 million of callable fixed-to-floating rate leveraged CMS spread notes due June 9, 2033, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The interest rate is 6.5% for the first year. After that, it will accrue at a rate of 6 times (the 30-year Constant Maturity Swap rate minus the five-year CMS rate), subject to a maximum of 10% and a floor of 1%. Interest will be payable quarterly.
After two years, the notes will be callable at par on any interest payment date.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Callable fixed-to-floating rate leveraged CMS spread notes
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| Amount: | $5,039,000
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| Maturity: | June 9, 2033
|
| Coupon: | 6.5% for the first year; after that, 6 times (spread of the 30-year CMS rate minus the five-year CMS rate), subject to a floor of 1% and 10% cap; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date after two years
|
| Pricing date: | June 7
|
| Settlement date: | June 9
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17329FEG5
|
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