Citigroup Announces Full Redemption of Series U Preferred Stock
The redemption date is
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’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 Depositary Shares representing the redeemed Preferred Stock will no longer be outstanding and dividends will no longer accrue on such securities.
For 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/CitiSept091219PreferredStockSeriesU.pdf
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