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Citi plans five-year callable step-up notes with 2% initial rate
By Susanna Moon
Chicago, Sept. 19 – Citigroup Global Markets Holdings Inc. plans to price step-up callable notes due Sept. 29, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 2% for the first three years, stepping up to 2.25% in September 2020 and to 3% on September 2021. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date after three years.
Citigroup Global Markets Inc. is the underwriter.
The notes will be guaranteed by Citigroup Inc.
The notes will settle on Sept. 26.
The Cusip number is 17324CML7.
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