New Issue: Citigroup prices $12.7 million callable step-up notes with 3% initial rate

By Angela McDaniels

Tacoma, Wash., March 21 – Citigroup Global Markets Holdings Inc. priced $12.7 million of callable step-up coupon notes due March 21, 2022, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

The interest rate is 3% per year to but excluding Sept. 21, 2020, 3.25% per year from and including Sept. 21, 2020 to but excluding March 21, 2021, 3.5% per year from and including March 21, 2021 to but excluding Sept. 21, 2021 and 4% per year from and including Sept. 21, 2021 to but excluding the maturity date. Interest is payable semiannually.

The payout at maturity will be par.

Beginning on March 21, 2020, the notes will be callable at par on any quarterly redemption date.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Callable step-up coupon notes
Amount:	$12,701,000
Maturity:	March 21, 2022
Coupon:	3% per year to but excluding Sept. 21, 2020, 3.25% per year from and including Sept. 21, 2020 to but excluding March 21, 2021, 3.5% per year from and including March 21, 2021 to but excluding Sept. 21, 2021 and 4% per year from and including Sept. 21, 2021 to but excluding maturity; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par on any quarterly redemption date beginning March 21, 2020
Pricing date:	March 19
Settlement date:	March 21
Underwriter:	Citigroup Global Markets Inc.
Fees:	0.625%
Cusip:	17326Y3K0

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.