Citigroup plans five-year step-up callable notes with 1.75% start rate

By Toni Weeks

San Luis Obispo, Calif., March 19 - Citigroup Inc. plans to price step-up callable notes due April 3, 2019, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 1.75% for the first three years, stepping up to 2% on April 3, 3017 and to 3% on April 3, 2018. Interest is payable quarterly.

The payout at maturity will be par.

The notes will be callable at par on any interest payment date after three years.

The notes (Cusip: 1730T0M55) are expected to price March 31 and settle three business days later.

Citigroup Global Markets Inc. is the underwriter. Wells Fargo Securities, LLC is the agent.

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