New Issue: Citigroup prices $25 million callable step-up coupon notes with 2.125% start rate

By Kiku Steinfeld

Chicago, July 29 – Citigroup Inc. priced $25 million of callable step-up coupon notes due July 20, 2035, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 2.125% initially, stepping up to 2.2% on July 30, 2025, to 2.4% on July 30, 2029, to 2.75% on July 30, 2029 and to 3% on July 30, 2034. Interest will be payable semiannually.

The payout at maturity will be par plus any interest.

The notes will be callable at par, in whole and not in part, on any quarterly redemption date beginning July 30, 2023.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Inc.
Issue:	Callable step-up coupon notes
Amount:	$25,000,000
Maturity:	July 20, 2035
Coupon:	2.125% initially, stepping up to 2.2% on July 30, 2025, to 2.4% on July 30, 2029, to 2.75% on July 30, 2029 and to 3% on July 30, 2034; payable semiannually
Price:	Par
Payout at maturity:	Par plus any interest due
Call option:	At par on any quarterly redemption date beginning July 30, 2023
Pricing date:	July 23
Settlement date:	July 30
Agent:	Citigroup Global Markets Inc.
Fees:	None
Cusip:	17298CJX7

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