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Citigroup plans callable range accrual notes linked to six-month Libor
By Angela McDaniels
Tacoma, Wash., Sept. 16 – Citigroup Global Markets Inc. plans to price callable range accrual notes due Sept. 24, 2036 linked to six-month Libor, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly. The interest rate will be 4.1% per year multiplied by the proportion of days on which Libor is zero to 4%, inclusive.
The payout at maturity will be par.
Beginning in September 2020 and ending in June 2036, the notes will be callable at par on any interest payment date.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
The notes will price Sept. 20.
The Cusip number is 17327THF6.
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