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Citigroup plans callable step-up coupon notes with 4% initial rate
By Jennifer Chiou
New York, June 12 – Citigroup Inc. plans to price callable step-up coupon notes due June 27, 2034, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 4% initially, stepping up to 4.25% on June 27, 2024 and to 4.5% on June 27, 2029. Interest is payable quarterly.
The payout at maturity will be par.
Beginning on June 27, 2019, the notes will be callable at par on any interest payment date.
The notes (Cusip: 1730T0S91) are expected to price on June 24.
Citigroup Global Markets Inc. is the underwriter.
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