By Susanna Moon
Chicago, June 28 – Citigroup Global Markets Holdings Inc. priced $520,000 of callable fixed-to-floating leveraged swap rate spread notes due June 27, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be fixed at 3% for the first two years. After that, it will accrue at 10.25 times the spread of the 10-year U.S. dollar ICE swap rate over the two-year U.S. dollar ICE swap rate. Interest will be payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Fixed-to-floating leveraged swap rate spread notes
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Amount: | $520,000
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Maturity: | June 27, 2022
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Coupon: | 3% initially; beginning June 27, 2020, 10.25 times spread of 10-year U.S. dollar ICE swap rate minus two-year U.S. dollar ICE swap rate; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | June 22
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Settlement date: | June 27
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.5%
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Cusip: | 17324CWL6
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