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Citigroup plans to price five-year callable step-up coupon notes
By Sarah Lizee
Olympia, Wash., Jan. 8 – Citigroup Inc. plans to price callable step-up coupon notes due Jan. 25, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 2.2% to 2.3% initially, stepping up to 2.9% to 3% in January 2021 and to 5.4% to 5.5% in January 2022. Interest will be payable semiannually. The exact coupons will be set at pricing.
The payout at maturity will be par.
The notes will be callable in whole at par on any quarterly date beginning on Jan. 25, 2021.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on Jan. 22 and settle three business days later.
The Cusip number is 17298CFT0.
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