Published on 4/12/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.36 million callable step-up coupon notes with 2.5% start rate
By Wendy Van Sickle
Columbus, Ohio, April 12 – Citigroup Inc. priced $3.36 million of callable step-up coupon notes due March 31, 2036 according to a 424B2 filing with the Securities and Exchange Commission.
Interest is 2.5% initially, stepping up to 3% on March 31, 2026 and to 4% on March 31, 2031. Interest is payable semiannually.
The payout at maturity will be par plus interest.
The notes are callable at par, in whole and not in part, on any quarterly redemption date beginning March 31, 2024.
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: | $3,356,000
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Maturity: | March 31, 2036
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Coupon: | 2.5% initially, stepping up to 3% on March 31, 2026 and to 4% on March 31, 2031; payable semiannually
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Price: | Par
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Payout at maturity: | Par plus interest
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Call option: | At par on any quarterly redemption date beginning March 31, 2024
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Pricing date: | March 29
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Settlement date: | March 31
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1.65%
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Cusip: | 17298CLQ9
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