Citigroup Announces Redemption of Series O Preferred Stock
Citigroup, Inc. (C)
Last citigroup, inc. earnings: 4/15 08:00 am
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US:NYSE Investor Relations:
citigroup.com/citi/investor/pres.htm
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Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Citigroup Inc. is redeeming, in whole, all $1.5 billion aggregate liquidation preference of Depositary Shares representing interests in its 5.875% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series O (the “Preferred Stock”).The redemption date for the Preferred Stock and related Depositary Shares is March 27, 2020. The cash redemption price, payable on March 27, 2020 for each Depositary Share, will equal $1,000. Holders of record on March 17, 2020 will receive the previously declared regular semi-annual dividend of $29.375 due on March 27, 2020.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 remain
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