Citigroup Announces Full Redemption of Series Q Preferred Stock and Series R Preferred Stock
Citigroup is also redeeming, in whole, all the currently outstanding
The redemption date for the Series Q Preferred Stock and related Series Q Depositary Shares and the Series R Preferred Stock and related Series R Depositary Shares is
The redemptions announced today are consistent with Citigroup’s liability management strategy and reflects its ongoing efforts to enhance the efficiency of its funding and capital structure. Citigroup’s 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.
Beginning on the Redemption Date, the Series Q Depositary Shares and the Series R Depositary Shares will no longer be outstanding, and dividends will no longer accrue on such securities.
For further information on the Series Q Preferred Stock and the related Series Q Depositary Shares, please see the prospectus at the following web address: https://www.citigroup.com/citi/fixedincome/data/FinalProspectusSupplement081215.PDF
For further information on the Series R Preferred Stock and the related Series R Depositary Shares, please see the prospectus at the following web address: https://www.citigroup.com/citi/fixedincome/data/FinalProspectusSupplementSerR.pdf
Citigroup, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citigroup provides consumers, corporations, governments, and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.