Citigroup plans callable dual range accrual notes linked to Russell

By Angela McDaniels

Tacoma, Wash., Dec. 2 – Citigroup Global Markets Holdings Inc. plans to price callable dual range accrual notes due Dec. 9, 2036 linked to six-month Libor and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

The interest rate will be the relevant contingent rate multiplied by the proportion of days on which six-month Libor is 6% or less and the index closes at or above the index accrual barrier level, 75% of its initial level. The contingent rate will be 6% per year in years one through seven, 7% per year in years eight through 14 and 8% per year in years 15 through 20. Interest will be payable quarterly.

The payout at maturity will be par plus any coupon due.

Beginning Dec. 9, 2017, the notes will be callable at par on any interest payment date.

Citigroup Global Markets Inc. is the underwriter.

The notes will price Dec. 6.

The Cusip number is 17324CD52.

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