Published on 4/21/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $42.97 million three-year collared floaters on SOFR
By Wendy Van Sickle
Columbus, Ohio, April 21 – Citigroup Inc. priced $42.97 million of floating-rate notes due April 20, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is equal to SOFR, subject to a minimum interest rate of 2.65% per year and a maximum interest rate of 5% per year. Interest is payable quarterly.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
Issuer: | Citigroup Inc.
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Issue: | Floating-rate notes
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Amount: | $42,965,000
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Maturity: | April 20, 2025
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Coupon: | SOFR, subject to 2.65% minimum interest rate and 5% maximum interest rate; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | April 18
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Settlement date: | April 20
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Agent: | Citigroup Global Markets Inc.
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Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fee: | 1.1%
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Cusip: | 17290AH60
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