New Issue: Citi prices $1 million callable step-up notes with 1.5% initial rate

By Marisa Wong

Madison, Wis., March 25 – Citigroup Inc. priced $1 million of callable step-up coupon notes due March 26, 2020, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 1.5% for the first year, stepping up to 1.75% on March 26, 2016, to 2% on March 26, 2017, to 2.25% on March 26, 2018 and to 2.5% on March 26, 2019. Interest will be payable quarterly.

The payout at maturity will be par.

The notes will be callable at par on any interest payment date beginning March 26, 2016.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Inc.
Issue:	Callable step-up coupon notes
Amount:	$1 million
Maturity:	March 26, 2020
Coupon:	1.5% for first year, stepping up to 1.75% on March 26, 2016, to 2% on March 26, 2017, to 2.25% on March 26, 2018 and to 2.5% on March 26, 2019; payable quarterly
Price:	Par
Payout at maturity:	Par
Call option:	At par on any interest payment date from March 26, 2016onward
Pricing date:	March 23
Settlement date:	March 26
Underwriter:	Citigroup Global Markets Inc.
Fees:	1%
Cusip:	1730T05L9

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