Citigroup plans leveraged callable CMS curve-linked notes due 2029

By Angela McDaniels

Tacoma, Wash., April 28 - Citigroup Inc. plans to price leveraged callable CMS curve-linked notes due May 30, 2029 linked 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 will be 10% for the first year. Beginning May 30, 2015, the interest rate will be five times the spread of the 30-year CMS rate over the five-year CMS rate, subject to a minimum interest rate of zero. Interest will be payable quarterly.

The payout at maturity will be par.

Beginning May 30, 2015, the notes will be callable at par on any interest payment date.

Citigroup Global Markets Inc. is the underwriter. Morgan Stanley & Co. LLC is a dealer.

The notes are expected to price May 27 and settle three business days later.

The Cusip number is 1730T0P78.

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