Published on 6/7/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $7.95 million collared floating-rate notes linked to SOFR
By Wendy Van Sickle
Columbus, Ohio, June 7 – Citigroup Inc. priced $7.95 million of collared floating-rate notes due June 6, 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 3.2% per year and a maximum interest rate of 5.1% per year. Interest is payable quarterly.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Inc.
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Issue: | Collared floating-rate notes
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Amount: | $7,947,000
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Maturity: | June 6, 2025
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Coupon: | SOFR, subject to 3.2% minimum interest rate and 5.1% 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: | June 2
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Settlement date: | June 6
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Underwriter: | Citigroup Global Markets Inc.
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Fee: | 1%
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Cusip: | 17290AC65
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