Published on 6/20/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $12.74 million callable step-up coupon notes with 3.5% start rate
By Sarah Lizee
Olympia, Wash., June 20 – Citigroup Inc. priced $12.74 million of callable step-up coupon notes due May 31, 2031, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 3.5% initially, stepping up to 3.75% on May 31, 2023, to 4% on May 31, 2026 and to 5% on May 31, 2029. Interest will be payable semiannually.
The payout at maturity will be par plus any interest.
The notes will be callable at par, in whole and not in part, on any quarterly redemption date beginning May 31, 2022.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Inc.
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Issue: | Callable step-up coupon notes
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Amount: | $12,736,000
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Maturity: | May 31, 2031
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Coupon: | 3.5% initially, stepping up to 3.75% on May 31, 2023, to 4% on May 31, 2026 and to 5% on May 31, 2029; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on any quarterly redemption date beginning May 31, 2022
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Pricing date: | May 29
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Settlement date: | May 31
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.3%
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Cusip: | 17298CGV4
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