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Citigroup to price callable step-up coupon notes with 3.5% start rate
By Sarah Lizee
Olympia, Wash., Nov. 6 – Citigroup Inc. plans to price callable step-up coupon notes due Nov. 21, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 3.5% initially, stepping up to 4% on Nov. 21, 2021 and to 6% on Nov. 21, 2022. Interest will be payable quarterly.
The payout at maturity will be par.
The notes will be callable in whole at par on any quarterly date beginning on Nov. 21, 2021.
Citigroup Global Markets Inc. is the underwriter.
The notes are expected to price on Nov. 19.
The Cusip number is 17298CGF9.
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