By Wendy Van Sickle
Columbus, Ohio, May 20 – Citigroup Inc. priced $32 million of floating-rate notes due May 20, 2026 linked to the federal funds effective rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is federal funds effective rate plus a spread of 65 basis points per year with a floor of 0%. Interest is payable quarterly.
The payout at maturity will be par plus accrued interest.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Floating-rate notes
|
| Underlying rate: | Federal funds effective rate
|
| Amount: | $32 million
|
| Maturity: | May 20, 2026
|
| Coupon: | Federal funds effective rate plus 65 bps, with floor of 0%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus accrued interest
|
| Pricing date: | May 17
|
| Settlement date: | May 20
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0%
|
| Cusip: | 17328CM70
|
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