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Citigroup to price callable step-up notes with 2%-2.1% initial rate
By Angela McDaniels
Tacoma, Wash., Oct. 2 – Citigroup Inc. plans to price callable step-up coupon notes due Oct. 20, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 2% to 2.1% in years one through three, 2.5% to 2.6% in year four and 3% to 3.1% in year five. The exact rates will be set at pricing. Interest will be payable semiannually.
The payout at maturity will be par.
Beginning Oct. 20, 2020, the notes will be callable at par quarterly.
Citigroup Global Markets Inc. is the underwriter.
The notes will price Oct. 18.
The Cusip number is 17298CFL7.
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