By Angela McDaniels
Tacoma, Wash., May 1 - Citigroup Inc. priced $5 million of floating-rate notes due May 2, 2021 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly. On each interest payment date, holders will receive (a) $1,000 times the applicable interest rate per year divided by (b) four. The applicable interest rate equals 0.75 times the 10-year CMS rate, subject to a minimum interest rate of 2% per year.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Floating-rate notes
|
| Amount: | $5 million
|
| Maturity: | May 2, 2021
|
| Coupon: | 0.75 times 10-year CMS rate, subject to minimum interest rate of 2% per year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | April 29
|
| Settlement date: | May 2
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.5%
|
| Cusip: | 1730T0Q28
|
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