By Wendy Van Sickle
Columbus, Ohio, Aug. 1 – Citigroup Global Markets Holdings Inc. priced $10.67 million of fixed-to-floating rate notes due July 29, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly fixed coupon at 4.55% per year to but excluding Oct. 29.
After that, it will accrue at an annual rate of two-Year U.S. Dollar SOFR ICE swap rate plus 146 basis points, subject to a floor of zero and a cap of 6% per annum.
The payout at maturity will be par plus any accrued interest.
Citigroup Inc. guarantees the notes.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Fixed-to-floating rate notes
|
| Amount: | $10,665,000
|
| Maturity: | July 29, 2025
|
| Price: | Par
|
| Coupon: | 4.55% annually, payable quarterly to but excluding Oct. 29; after that, two-Year U.S. Dollar SOFR ICE swap rate plus 146 bps with floor of 0% and cap of 6% per annum, payable quarterly
|
| Payout at maturity: | Par plus any interest
|
| Pricing date: | July 28
|
| Settlement date: | July 29
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.5%
|
| Cusip: | 17330PYB9
|
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