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Citigroup to price callable step-up notes due 2038 with 4% start rate
By Sarah Lizee
Olympia, Wash., June 6 – Citigroup Global Markets Holdings Inc. plans to price callable step-up coupon notes due June 20, 2038, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 4% initially, stepping up to 4.5% in June 2028, to 5% in June 2030, to 5.5% in June 2032, to 6% in June 2034 and to 7% in June 2036. 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 June 20, 2021.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
The notes are expected to price on June 15 and settle three business days later.
The Cusip number is 17290JFE6.
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