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Citigroup plans callable step-up coupon notes with 3% start rate
By Sarah Lizee
Olympia, Wash., Jan. 17 – Citigroup Global Markets Holdings Inc. plans to price callable step-up coupon notes due Feb. 4, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest will be 3% initially, stepping up to 3.05% on Feb. 4, 2020 and to 3.1% on Feb. 4, 2021.
Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable in whole at par on any annual redemption date beginning on Feb. 4, 2020.
Citigroup Global Markets Inc. is the underwriter.
The notes are expected to price on Jan. 30.
The Cusip number is 17326YVH6.
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