By Wendy Van Sickle
Columbus, Ohio, June 28 – Citigroup Global Markets Holdings Inc. priced $50 million of fixed-to-floating rate notes due Aug. 7, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The initial interest rate is 7% per year. Beginning on Nov. 7, the interest rate will be the one-year U.S. dollar SOFR ICE swap rate plus 35 basis points, subject to a floor of 0%.
The payout at maturity will be par.
The guarantor is Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Fixed-to-floating rate notes
|
| Underlying rate: | One-year U.S. dollar SOFR ICE swap rate
|
| Amount: | $50 million
|
| Maturity: | Aug. 7, 2024
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| Coupon: | 7% per year until Nov. 7; then one-year U.S. dollar SOFR ICE swap rate plus 35 bps, with floor of 0%; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | June 22
|
| Settlement date: | July 7
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.08%
|
| Cusip: | 17291RF56
|
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