Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Citigroup Inc. > News item |
Citigroup plans fixed-to-floaters due 2023 on leveraged CMS spread
By Sarah Lizee
Olympia, Wash., May 18 – Citigroup Global Markets Holdings Inc. plans to price callable fixed-to-floating notes due May 29, 2023 linked to the leveraged difference between the 30-year Constant Maturity Swap rate and the two-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 5% until May 29, 2019. After that, the rate will be equal to 20 times the spread of the 30-year CMS rate over the two-year CMS rate, subject to a maximum rate of 10%. Interest will be payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes are callable quarterly in whole at par beginning May 29, 2019.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
The notes are expected to price on May 24 and settle two business days after the pricing date.
The Cusip number is 17324CV37.
© 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.