New Issue: Citigroup prices $2.85 million callable step-up coupon notes with 1% initial rate

By William Gullotti

Buffalo, N.Y., July 13 – Citigroup Inc. priced $2.85 million of callable step-up coupon notes due May 28, 2026, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 1% initially, stepping up to 1.5% on May 28, 2024 and to 2.5% on May 28, 2025. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par, in whole and not in part, on any quarterly redemption date starting May 28, 2024.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Inc.
Issue:	Callable step-up coupon notes
Amount:	$2,845,000
Maturity:	May 28, 2026
Coupon:	1% initially, stepping up to 1.5% on May 28, 2024 and to 2.5% on May 28, 2025; payable semiannually
Price:	Par
Payout at maturity:	Par plus interest due
Call option:	At par on any quarterly redemption date starting May 28, 2024
Pricing date:	May 26
Settlement date:	May 28
Underwriter:	Citigroup Global Markets Inc.
Fees:	0.55%
Cusip:	17298CM96

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