Citigroup plans to price five-year callable step-up coupon notes

By Marisa Wong

Madison, Wis., March 2 – Citigroup Inc. plans to price callable step-up coupon notes due March 26, 2020, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 1.5% to 1.75% for the first year, stepping up to 1.75% to 2% on March 26, 2016, to 2% to 2.25% on March 26, 2017, to 2.25% to 2.5% on March 26, 2018 and to 2.5% to 2.75% on March 26, 2019. Interest will be payable quarterly.

The payout at maturity will be par.

The notes will be callable at par on any interest payment date beginning March 26, 2016.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on March 23.

The Cusip number is 1730T05L9.

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