Citi plans five-year callable step-up notes with 1.3%-1.7% start rate

By Susanna Moon

Chicago, Oct. 7 – Citigroup Inc. plans to price callable step-up coupon notes due Oct. 31, 2021, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 1.3% to 1.7% for the first three years, stepping up to 1.8% to 2.2% in October 2019 and to 2.3% to 2.7% in October 2020. Interest is payable quarterly, with the exact percentage to be set at pricing.

The payout at maturity will be par.

The notes will be callable at par on any quarterly call date after three years.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Oct. 26.

The Cusip number is 17298CEZ7.

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