Citigroup Announces Partial Redemption of Series J Preferred Stock
Citigroup Inc. is redeeming 16,000 shares out of 38,000 shares outstanding of its 7.125% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series J (ticker “C Pr J”) (the “Preferred Stock”), equivalent to $400 million out of an outstanding total of $950 million aggregate liquidation preference of Series J Depositary Shares representing interests in its Preferred Stock.
- Citigroup Inc. is redeeming 16,000 shares out of 38,000 shares outstanding of its 7.125% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series J (ticker “C Pr J”) (the “Preferred Stock”), equivalent to $400 million out of an outstanding total of $950 million aggregate liquidation preference of Series J Depositary Shares representing interests in its Preferred Stock.
- The redemption date for the Preferred Stock and related Depositary Shares is December 29, 2023 (the “Redemption Date”).
- Dividends on the Depositary Shares representing the Preferred Stock that are redeemed will cease to accrue beginning on the Redemption Date.
- Depositary Shares not selected for redemption will remain outstanding after the Redemption Date and will continue to accrue dividends, when declared on the outstanding Preferred Stock.