Citigroup corrects Cusip of leveraged CMS spread, S&P 500-linked notes

By Angela McDaniels

Tacoma, Wash., June 17 – Citigroup Inc. said the correct Cusip number for its callable fixed-to-floating-rate leveraged CMS spread range accrual notes contingent on the S&P 500 index is 1730T0T58.

The company announced the offering on Monday and filed an amended 424B2 filing with the Securities and Exchange Commission on Tuesday.

The notes will mature June 27, 2034.

As previously reported, the coupon will be 13% for the first year. After that, it will be (a) 4 times the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate minus 25 basis points multiplied by (b) the proportion of days on which the index’s closing level is greater than or equal to 70% of the initial index level. The interest rate will be subject to a floor of zero and a cap of 13% per year. Interest will be payable quarterly.

The payout at maturity will be par.

Beginning June 27, 2015, the notes will be callable on any coupon payment date.

Citigroup Global Markets Inc. is the agent.

The notes are expected to price June 24.

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