By Kiku Steinfeld
Chicago, July 10 – Citigroup Global Markets Holdings Inc. priced $230,000 of fixed-to-floating notes due Feb. 24, 2026 linked to the two-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 6% for the first year. After that, the interest rate will be equal to the two-year U.S. Dollar SOFR ICE swap rate plus 80 basis points. Interest will be payable quarterly 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.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Fixed-to-floating notes
|
| Amount: | $230,000
|
| Underlying rate: | two-year U.S. Dollar SOFR ICE swap rate
|
| Maturity: | Feb. 24, 2026
|
| Coupon: | 6% for the first year; after that, two-year U.S. Dollar SOFR ICE swap rate plus 80 basis points with floor of zero; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Feb. 22
|
| Settlement date: | Feb. 24
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.25%
|
| Cusip: | 17290AA67
|
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