Chicago, Aug. 1 – Citigroup Global Markets Holdings Inc. priced $51.5 million of fixed-to-floating rate notes due Aug. 28, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The initial interest rate is 7.375% per year. Beginning on Oct. 28 (in three months), the interest rate will be the one-year U.S. dollar SOFR ICE swap rate plus 43 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: | $51,500,000
|
| Maturity: | Aug. 28, 2024
|
| Coupon: | 7.375% per year until Oct. 28; then one-year U.S. dollar SOFR ICE swap rate plus 43 bps, with floor of 0%; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | July 26
|
| Settlement date: | July 28
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.1%
|
| Cusip: | 17291RDK5
|
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