Published on 2/5/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.13 million callable step-up notes with 1% start rate
By Wendy Van Sickle
Columbus, Ohio, Feb. 5 – Citigroup Inc. priced $2.13 million of callable step-up coupon notes due Jan. 21, 2028, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 1% initially, stepping up to 1.5% on Jan. 21, 2025, tp 1.75% on Jan. 21, 2026 and to 2% on Jan. 21, 2027. Interest is payable semiannually.
The payout at maturity will be par plus accrued interest.
The notes will be callable at par, in whole and not in part, on any quarterly redemption date after three years.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Inc.
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Issue: | Callable step-up coupon notes
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Amount: | $2,126,000
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Maturity: | Jan. 21, 2028
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Coupon: | 1% initially, stepping up to 1.5% on Jan. 21, 2025, tp 1.75% on Jan. 21, 2026 and to 2% on Jan. 21, 2027; payable semiannually
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Price: | Par
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Payout at maturity: | Par plus accrued interest
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Call option: | At par on any quarterly redemption date after three years
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Pricing date: | Jan. 19
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Settlement date: | Jan. 21
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.82%
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Cusip: | 17298CL63
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