By Marisa Wong
Madison, Wis., July 8 - Citigroup Inc. priced $6.25 million of leveraged callable CMS curve-linked notes due July 9, 2028 tied to the 30-year Constant Maturity Swap Rate and the five-year CMS rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 10% for the first year. After that, it will be four times the spread of the 30-year CMS rate minus the five-year CMS rate, subject to a minimum interest rate of 0% and a maximum interest rate of 10% per year. Interest will be payable quarterly.
The payout at maturity will be par.
Beginning July 9, 2015, the notes will be callable at par on any interest payment date.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Leveraged callable CMS curve-linked notes
|
| Amount: | $6.25 million
|
| Maturity: | July 9, 2028
|
| Coupon: | 10% for first year; after that, four times spread of 30-year CMS rate minus five-year CMS rate, floor of 0% and cap of 10%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning July 9, 2015
|
| Pricing date: | July 3
|
| Settlement date: | July 9
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3.5%
|
| Cusip: | 1730T0UG2
|
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