By Angela McDaniels
Tacoma, Wash., Feb. 24 – Citigroup Inc. priced $2 million of callable step-up coupon notes due Feb. 26, 2035, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 3% in years one through five, 3.625% in years six through 10, 4.125% in years 11 through 15, 5% in years 16 through 18 and 6.5% in years 19 and 20. Interest is payable quarterly.
The payout at maturity will be par.
Beginning Feb. 25, 2018, the notes will be callable at par on any interest payment date.
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 million
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Maturity: | Feb. 26, 2035
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Coupon: | 3% in years one through five, 3.625% in years six through 10, 4.125% in years 11 through 15, 5% in years 16 through 18 and 6.5% in years 19 and 20; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on any interest payment date from Feb. 25, 2018 onward
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Pricing date: | Feb. 23
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Settlement date: | Feb. 26
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 2%
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Cusip: | 1730T04M8
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