New Issue: Citigroup prices $28.05 million 40-year floating rate notes linked to SOFR

By William Gullotti

Buffalo, N.Y., April 27 – Citigroup Global Markets Holdings Inc. priced $28.05 million of floating rate notes due April 27, 2063 linked to SOFR, according to a 424B2 filing with the Securities and Exchange Commission.

Citigroup Inc. is the guarantor.

Interest is payable quarterly at a rate equal to SOFR, subject to a floor of 0%.

Holders may require the issuer to repurchase the notes on an annual basis, starting April 27, 2026 at 97. The repurchase amount steps up to 98 for April 27, 2027 and April 27, 2028, to 99 for the corresponding dates in 2029 to 2031 and to par for April 27, 2032 until maturity.

The payout at maturity will be par.

Citigroup Global Markets Inc. is the underwriter. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Floating rate notes
Underlying rate:	SOFR
Amount:	$28.05 million
Maturity:	April 27, 2063
Coupon:	SOFR, subject to 0% floor; payable quarterly
Price:	Par
Payout at maturity:	Par
Put option:	Annually, starting April 27, 2026 at 97; amount steps up to 98 for April 27, 2027 and April 27, 2028; amount steps up to 99 for April 27, 2029, April 27, 2030 and April 27, 2031; and to par starting April 27, 2032
Pricing date:	April 25
Settlement date:	April 27
Underwriter:	Citigroup Global Markets Inc.
Placement agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1%
Cusip:	17331HKG0

© 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.