New York – Citigroup Inc. is announcing the redemption, in whole, constituting $2,750,000,000 of its 3.352% Fixed Rate / Floating Rate Notes due 2025 (the “notes”) (ISIN: US172967MF56).
The redemption date for the notes is April 24, 2024 (the “redemption date”). The cash redemption price for the notes payable on the redemption date will equal par plus accrued and unpaid interest, to but excluding, the redemption date.
“The redemption announced today is consistent with Citigroup’s liability management strategy, and reflects its ongoing efforts to enhance the efficiency of its funding and capital structure. Citigroup will continue to consider opportunities to redeem or repurchase securities, 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.”
The group’s Board of Directors earlier this month declared a quarterly dividend on Citigroup’s common stock of $0.53 per share, payable on May 24, 2024 to stockholders of record on May 6, 2024.
The Board also declared dividends on Citigroup’s preferred stock as follows:
– 5.350% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series D, payable May 15, 2024, to holders of record on May 3, 2024. Holders of depositary receipts, each representing one-thousandth of a full preferred share, will be paid $22.5865 for each receipt held.
– 6.300% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series M, payable May 15, 2024, to holders of record on May 3, 2024. Holders of depositary receipts, each representing one-twenty-fifth of a full preferred share, will be paid $31.50 for each receipt held.
– 5.950% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series P, payable May 15, 2024, to holders of record on May 3, 2024. Holders of depositary receipts, each representing one-twenty-fifth of a full preferred share, will be paid $29.75 for each receipt held.
– 4.000% Fixed Rate Noncumulative Preferred Stock, Series W, payable June 10, 2024, to holders of record on May 31, 2024. Holders of depositary receipts, each representing one-twenty-fifth of a full preferred share, will be paid $10.00 for each receipt held.
– 3.875% Fixed Rate Reset Noncumulative Preferred Stock, Series X, payable May 20, 2024, to holders of record on May 10, 2024. Holders of depositary receipts, each representing one-twenty-fifth of a full preferred share, will be paid $9.6875 for each receipt held.
– 4.150% Fixed Rate Reset Noncumulative Preferred Stock, Series Y, payable May 15, 2024, to holders of record on May 3, 2024. Holders of depositary receipts, each representing one-twenty-fifth of a full preferred share, will be paid $10.375 for each receipt held.
– 7.375% Fixed Rate Reset Noncumulative Preferred Stock, Series Z, payable May 15, 2024, to holders of record on May 3, 2024. Holders of depositary receipts, each representing one-twenty-fifth of a full preferred share, will be paid $18.4375 for each receipt held.
– 7.625% Fixed Rate Reset Noncumulative Preferred Stock, Series AA, payable May 15, 2024, to holders of record on May 3, 2024. Holders of depositary receipts, each representing one-twenty-fifth of a full preferred share, will be paid $19.0625 for each receipt held.