New Issue: Citigroup prices $2.37 million callable step-up coupon notes with 2.25% initial rate

By William Gullotti

Buffalo, N.Y., July 22 – Citigroup Inc. priced $2.37 million of callable step-up coupon notes due July 20, 2036, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 2.25% initially, stepping up to 2.5% on July 20, 2026, to 3% on July 20, 2030, to 3.5% on July 20, 2032 and to 4% on July 20, 2035. 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 July 20, 2024.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Inc.
Issue:	Callable step-up coupon notes
Amount:	$2,374,000
Maturity:	July 20, 2036
Coupon:	2.25% initially, stepping up to 2.5% on July 20, 2026, to 3% on July 20, 2030, to 3.5% on July 20, 2032 and to 4% on July 20, 2035; payable semiannually
Price:	Par
Payout at maturity:	Par plus interest due
Call option:	At par on any quarterly redemption date starting July 20, 2024
Pricing date:	July 16
Settlement date:	July 20
Underwriter:	Citigroup Global Markets Inc.
Fees:	1.65%
Cusip:	17290A2G4

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.