By Angela McDaniels
Tacoma, Wash., June 18 – Citigroup Inc. priced $15 million of CMS spread notes due Dec. 19, 2017 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 is 3.25% for the first year. After that, it will be equal to the 30-year CMS rate minus the five-year CMS rate minus 50 basis points, subject to a maximum interest rate of 3.25% per year. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | CMS spread notes
|
| Underlying rates: | 30-year Constant Maturity Swap and five-year CMS rate
|
| Amount: | $15 million
|
| Maturity: | Dec. 19, 2017
|
| Coupon: | 3.25% for first year; after that, 30-year CMS rate minus five-year CMS rate minus 50 bps, subject to minimum of zero and maximum of 3.25% per year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | June 16
|
| Settlement date: | June 19
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.7%
|
| Cusip: | 1730T0T41
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
