By Wendy Van Sickle
Columbus, Ohio, Aug. 8 – Citigroup Global Markets Holdings Inc. priced $2 million of callable range accrual notes due Feb. 4, 2024 linked to the CMS spread, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will accrue interest at an annual rate of 4.75% for each day the 30-year U.S. Dollar SOFR ICE swap rate minus the two-year U.S. Dollar SOFR ICE swap rate is at least negative 0.5%. Interest is payable quarterly.
The notes can be called at par on any quarterly coupon date after one year.
If the notes are not called, the payout at maturity will be par plus any accrued coupon.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Callable range accrual notes
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| Underlying assets: | 30-year U.S. Dollar SOFR ICE swap rate, two-year U.S. Dollar SOFR ICE swap rate
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| Amount: | $2 million
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| Maturity: | Feb. 4, 2024
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| Price: | Par
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| Coupon: | 4.75% annually, payable quarterly, for each day spread of the 30-year SOFR ICE rate minus the two-year SOFR ICE rate is at least negative 0.5%
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| Payout at maturity: | Par plus any accrued coupon
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| Call option: | Callable quarterly at par after one year
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| Pricing date: | Aug. 3
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| Settlement date: | Aug. 4
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17330PVX4
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