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Citigroup plans callable step-up coupon notes with 3.25% start rate
By Sarah Lizee
Olympia, Wash., Nov. 22 – Citigroup Inc. plans to price callable step-up coupon notes due Nov. 27, 2039, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 3.25% initially, stepping up to 3.5% on Nov. 27, 2029, to 3.75% on Nov. 27, 2034 and to 4% on Nov. 27, 2037.
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 Nov. 27, 2022.
Citigroup Global Markets Inc. is the agent.
The notes will price on Nov. 25.
The Cusip number is 17298CHK7.
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