By Wendy Van Sickle
Columbus, Ohio, Dec. 8 – Citigroup Inc. priced $50 million of fixed-to-floating-rate notes due Dec. 7, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 7.4% for the first two years, then converts to SOFR plus 100 basis points, subject to a floor of 0%. Interest is payable quarterly.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Inc.
|
| Issue: | Fixed-to-floating-rate notes
|
| Amount: | $50 million
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| Maturity: | Dec. 7, 2029
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| Coupon: | 7.4% for first two years, then SOFR plus 100 bps, subject to a floor of 0%; payable quarterly
|
| Price: | Par
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| Payout at maturity: | Par
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 7
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.22%
|
| Cusip: | 17290AA34
|
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