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Citigroup plans five-year callable step-up notes with 1.5% initial rate
By Susanna Moon
Chicago, July 19 – Citigroup Inc. plans to price callable step-up coupon notes due Aug. 3, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 1.5% for the first two years, stepping up to 1.6% in August 2018 and to 1.7% in August 2020. Interest will be payable quarterly.
The payout at maturity will be par.
The notes will be callable quarterly at par after two years.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on July 29.
The Cusip number is 17298CES3.
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