By Wendy Van Sickle
Columbus, Ohio, Aug. 11 – Citigroup Global Markets Holdings Inc. priced $50 million of fixed-to-floating notes due Sept. 11, 2024 linked to the one-year U.S. Dollar SOFR ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The interest rate will be 7.5% for the three months. After that, the interest rate will be equal to the one-year U.S. Dollar SOFR ICE swap rate plus 22.5 basis points. Interest will be payable monthly and cannot be less than zero.
The payout at maturity will be par.
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: | Fixed-to-floating notes
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| Amount: | $50 million
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| Underlying rate: | One-year U.S. Dollar SOFR ICE swap rate
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| Maturity: | Sept. 11, 2024
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| Coupon: | 7.5% for the three months; after that, one-year U.S. Dollar SOFR ICE swap rate plus 22.5 bps with floor of zero; payable monthly
|
| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | Aug. 9
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| Settlement date: | Aug. 11
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.11%
|
| Cusip: | 17291RTD4
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