New Issue: Citi prices $2.3 million callable step-up notes with 1.5% initial rate

By Jennifer Chiou

New York, Oct. 28 – Citigroup Inc. priced $2.3 million of callable step-up coupon notes due Oct. 29, 2019, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 1.5% initially, stepping up to 1.75% on Oct. 29, 2015, to 2% on Oct. 29, 2016, to 2.5% on Oct. 29, 2017 and to 3% on Oct. 29, 2018. Interest is payable quarterly.

The payout at maturity will be par.

Beginning on Oct. 29, 2015, the notes will be callable at par on any interest payment date.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Inc.
Issue:	Callable step-up coupon notes
Amount:	$2.3 million
Maturity:	Oct. 29, 2019
Coupon:	1.5% initially, stepping up to 1.75% on Oct. 29, 2015, to 2% on Oct. 29, 2016, to 2.5% on Oct. 29, 2017 and to 3% on Oct. 29, 2018; payable quarterly
Price:	Par
Payout at maturity:	Par
Call option:	At par on any interest payment date from Oct. 29, 2015 onward
Pricing date:	Oct. 24
Settlement date:	Oct. 29
Underwriter:	Citigroup Global Markets Inc.
Fees:	1%
Cusip:	1730T02K4

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