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Citi to price callable step-up coupon notes with 1.5% start rate
By Sarah Lizee
Olympia, Wash., Aug. 24 – Citigroup Inc. plans to price callable step-up coupon notes due Aug. 28, 2030, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 1.5% initially, stepping up to 2% on Aug. 28, 2027 and to 3.25% on Aug. 28, 2029. 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 Aug. 28, 2023.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on Aug. 26.
The Cusip number is 17298CK72.
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