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Citigroup plans callable step-up notes due 2021 with 2% initial rate
By Angela McDaniels
Tacoma, Wash., Jan. 25 – Citigroup Inc. plans to price callable step-up coupon notes due Feb. 16, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 2% in years one through three, 2.1% in year four and 2.3% in year five. Interest will be payable quarterly.
The payout at maturity will be par.
Beginning Feb. 16, 2018, the notes will be callable at par on any quarterly redemption date.
Citigroup Global Markets Inc. is the underwriter.
The notes will price Feb. 10.
The Cusip number is 17298C6M5.
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