By Wendy Van Sickle
Columbus, Ohio, Sept. 21 – Citigroup Global Markets Holdings Inc. priced $530,000 of callable fixed-to-floating rate leveraged CMS spread notes due June 30, 2033, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly fixed coupon at 6% per year for the first two years.
After that, it will accrue at an annual rate of 7 times (the 30-year Constant Maturity Swap rate minus the five-year Constant Maturity Swap rate minus 25 basis points) up to a maximum rate of 10% and a floor of zero.
The notes can be called at par on any quarterly coupon date after one year.
If the notes are not called, the payout at maturity will be par plus any accrued interest.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Callable fixed-to-floating rate leveraged CMS spread notes
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| Underlying assets: | 30-year Constant Maturity Swap rate, five-year Constant Maturity Swap rate
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| Amount: | $530,000
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| Maturity: | June 30, 2033
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| Price: | Par
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| Coupon: | 6% annually, payable quarterly, for first two years; after that, at 7 times (spread of 30-year CMS rate minus the five-year CMS rate minus 25 bp) up to maximum rate of 10% and floor of 0%, payable quarterly
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| Payout at maturity: | Par plus any interest
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| Call option: | Callable quarterly at par after one year
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| Pricing date: | June 28
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| Settlement date: | June 30
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.25%
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| Cusip: | 17329FS96
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