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Citigroup plans callable step-up coupon notes with 3.1% initial rate
By Wendy Van Sickle
Columbus, Ohio, March 13 – Citigroup Global Markets Holdings Inc. plans to price callable step-up coupon notes due March 20, 2027, according to a 424B3 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest will be 3.1% initially, stepping up to 3.5% in March 2022, to 4% in March 2025 and to 5% in March 2026. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any quarterly date beginning in March 2022.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on March 15.
The Cusip number is 17324CFW1.
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