Published on 12/30/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $6.7 million callable step-up coupon notes with 2.75% start rate
By Sarah Lizee
Olympia, Wash., Dec. 30 – Citigroup Inc. priced $6.7 million of callable step-up coupon notes due Dec. 27, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 2.75% initially, stepping up to 3% on Dec. 27, 2024, to 3.5% on Dec. 27, 2027 and to 4% on Dec. 27, 2028. 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 Dec. 27, 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: | $6,697,000
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Maturity: | Dec. 27, 2029
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Coupon: | 2.75% initially, stepping up to 3% on Dec. 27, 2024, to 3.5% on Dec. 27, 2027 and to 4% on Dec. 27, 2028; payable semiannually
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Price: | Par
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Payout at maturity: | Par plus any interest due
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Call option: | At par on any quarterly redemption date beginning Dec. 27, 2022
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Pricing date: | Dec. 24
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Settlement date: | Dec. 27
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.1%
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Cusip: | 17298CHP6
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