Citigroup to price callable step-up coupon notes with 4% start rate

By Sarah Lizee

Olympia, Wash., April 25 – Citigroup Inc. plans to price callable step-up coupon notes due May 15, 2033, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 4% initially, stepping up to 4.5% in May 2028 and to 6% in May 2031. Interest will be payable semiannually.

The payout at maturity will be par.

The notes will be callable in whole at par on any quarterly date beginning on May 15, 2021.

Citigroup Global Markets Inc. is the underwriter.

The notes are expected to price on May 11 and settle two business days later.

The Cusip number is 17298CG85.

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