{"id":787179,"date":"2023-09-29T16:52:58","date_gmt":"2023-09-29T20:52:58","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/citigroup-announces-full-redemption-of-series-a-preferred-stock\/"},"modified":"2023-09-29T16:52:58","modified_gmt":"2023-09-29T20:52:58","slug":"citigroup-announces-full-redemption-of-series-a-preferred-stock","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/citigroup-announces-full-redemption-of-series-a-preferred-stock\/","title":{"rendered":"Citigroup Announces Full Redemption of Series A Preferred Stock"},"content":{"rendered":"

<\/p>\n

Citigroup Announces Full Redemption of Series A Preferred Stock<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nCitigroup Inc. is redeeming, in whole, all $1.5 billion aggregate liquidation preference of Series A Depositary Shares representing interests in its 5.950% Fixed Rate \/ Floating Rate Noncumulative Preferred Stock, Series A (the \u201cPreferred Stock\u201d).<\/p>\n

\nThe redemption date for the Preferred Stock and related Depositary Shares is October 30, 2023 (the \u201cRedemption Date\u201d). The cash redemption price, payable on the Redemption Date for each Depositary Share, will equal $1,000. Any quarterly dividend declared but not paid prior to the Redemption Date will be paid on the Redemption Date to holders of record on a date prior to the Redemption Date set by Citigroup\u2019s board of directors.<\/p>\n

\nThe redemption announced today is consistent with Citigroup\u2019s liability management strategy and reflects its ongoing efforts to enhance the efficiency of its funding and capital structure. Citigroup\u2019s redemptions are based on several factors, including without limitation, the economic value, regulatory changes, potential impact on Citigroup’s net interest margin and borrowing costs, the overall remaining tenor of Citigroup’s debt portfolio, capital impact, as well as overall market conditions.<\/p>\n

\nBeginning on the Redemption Date, the Depositary Shares representing the redeemed Preferred Stock will no longer be outstanding and dividends will no longer accrue on such securities.<\/p>\n

\nComputershare Trust Company, N.A. (\u201cComputershare\u201d) is the paying agent for the Depositary Shares. The paying agent\u2019s address is Computershare Trust Company, Attn: Corporate Actions, 150 Royall Street, Canton, MA 02021. Questions relating to the notice of redemption and related materials should be directed to Computershare via telephone at 1-888-250-3985.<\/p>\n

\nFor further information on the Preferred Stock and the related Depositary Shares, please see the prospectus at the following web address: https:\/\/www.citigroup.com\/rcs\/citigpa\/akpublic\/storage\/public\/ps_121029sa.pdf<\/a><\/p>\n

About Citi<\/span><\/b><\/p>\n

\nCiti is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.<\/p>\n

\nAdditional information may be found at www.citigroup.com<\/a> | Twitter: @Citi | LinkedIn: www.linkedin.com\/company\/citi<\/a> | YouTube: www.youtube.com\/citi<\/a> | Facebook: www.facebook.com\/citi<\/a><\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230929943154\/en\/<\/a><\/span><\/p>\n

\nMedia:
\n
Danielle Romero Apsilos
\n
212 816 2264 danielle.romeroapsilos@citi.com
\n<\/a><\/p>\n

Fixed Income Investors:
\n
Peter Demoise
\n
212 559 2718
\n
peter.demoise@citi.com<\/a><\/p>\n

KEYWORDS:<\/b> New York United States North America Canada<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Data Analytics Finance Asset Management Consulting Banking Personal Finance<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
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Citigroup Announces Full Redemption of Series A Preferred Stock NEW YORK–(BUSINESS WIRE)– Citigroup Inc. is redeeming, in whole, all $1.5 billion aggregate liquidation preference of Series A Depositary Shares representing interests in its 5.950% Fixed Rate \/ Floating Rate Noncumulative Preferred Stock, Series A (the \u201cPreferred Stock\u201d). The redemption date for the Preferred Stock and related Depositary Shares is October 30, 2023 (the \u201cRedemption Date\u201d). The cash redemption price, payable on the Redemption Date for each Depositary Share, will equal $1,000. Any quarterly dividend declared but not paid prior to the Redemption Date will be paid on the Redemption Date to holders of record on a date prior to the Redemption Date set by Citigroup\u2019s board of directors. The redemption … <\/p>\n

Continue reading “Citigroup Announces Full Redemption of Series A Preferred Stock”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-787179","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nCitigroup Announces Full Redemption of Series A Preferred Stock - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/citigroup-announces-full-redemption-of-series-a-preferred-stock\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Citigroup Announces Full Redemption of Series A Preferred Stock - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Citigroup Announces Full Redemption of Series A Preferred Stock NEW YORK–(BUSINESS WIRE)– Citigroup Inc. is redeeming, in whole, all $1.5 billion aggregate liquidation preference of Series A Depositary Shares representing interests in its 5.950% Fixed Rate \/ Floating Rate Noncumulative Preferred Stock, Series A (the \u201cPreferred Stock\u201d). The redemption date for the Preferred Stock and related Depositary Shares is October 30, 2023 (the \u201cRedemption Date\u201d). The cash redemption price, payable on the Redemption Date for each Depositary Share, will equal $1,000. Any quarterly dividend declared but not paid prior to the Redemption Date will be paid on the Redemption Date to holders of record on a date prior to the Redemption Date set by Citigroup\u2019s board of directors. 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