Citigroup plans to price callable step-up notes with 1.8% initial rate

By Wendy Van Sickle

Columbus, Ohio, June 8 – Citigroup Inc. plans to price callable step-up coupon notes due June 30, 2021, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 1.8% for the first two years, stepping up to 1.9% in June 2018 and to 2.1% in June 2020. Interest will be payable quarterly.

The payout at maturity will be par.

Beginning on June 30, 2018, the notes will be callable at par on any interest payment date.

Citigroup Global Markets Inc. is the underwriter.

The notes will price June 27.

The Cusip number is 17298CEQ7.

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