Citigroup plans callable step-up coupon notes with 2.5% start rate

By Wendy Van Sickle

Columbus, Ohio, Sept. 24 – Citigroup Global Markets Holdings Inc. plans to price callable step-up coupon notes due Oct. 18, 2026, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

Interest will be 2.5% initially, stepping up to 2.75% on Oct. 18, 2022 and to 3% on Oct. 18, 2024.

Interest will be payable semiannually.

The payout at maturity will be par.

The notes will be callable in whole at par on any quarterly redemption date beginning on Oct. 18, 2020.

Citigroup Global Markets Inc. is the underwriter.

The notes are expected to price on Oct. 16.

The Cusip number is 17327TSZ0.

© 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.