Citigroup plans fixed-to-floating notes due 2015 with 2% initial rate

By Marisa Wong

Madison, Wis., April 30 - Citigroup Funding Inc. plans to price non-callable fixed-to-floating notes due May 30, 2015, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 2% for the first year. After that, it will be Libor plus 110 basis points, subject to a maximum rate of 5% in any interest period. Interest is payable quarterly.

The payout at maturity will be par.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on May 24 and settle three business days after that.

The Cusip number is 1730T0XF1.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.