Citigroup Announces $1.5 Billion Redemption of 4.140% Fixed Rate / Floating Rate Notes due 2025 and $500.0 Million Redemption of Floating Rate Notes due 2025
18 May 2024 - 6:15AM
Business Wire
Citigroup Inc. is announcing the redemption, in
whole, constituting $1,500,000,000 of its 4.140% Fixed Rate /
Floating Rate Notes due 2025 (the “fixed rate / floating rate
notes”) (ISIN: US172967NQ03), and the redemption, in whole,
constituting $500,000,000 of its Floating Rate Notes due 2025 (the
“floating rate notes” and, together with the fixed rate / floating
rate notes, the “notes”) (ISIN: US172967NR85).
The redemption date for the notes is May 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 redemptions announced today are consistent with Citigroup's
liability management strategy, and reflect 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.
Beginning on the redemption date, interest will no longer accrue
on the notes.
Citibank, N.A. is the paying agent for the notes. For further
information on the fixed rate / floating rate notes, please see the
related prospectus supplement at the following web address:
https://www.citigroup.com/rcs/citigpa/akpublic/storage/public/ProspectusMay2025.pdf
For further information on the floating rate notes, please see
the related prospectus supplement at the following web address:
https://www.citigroup.com/rcs/citigpa/akpublic/storage/public/frn_052425a.pdf
About Citi
Citi is a preeminent banking partner for institutions with
cross-border needs, a global leader in wealth management and a
valued personal bank in its home market of the United States. Citi
does business in nearly 160 countries and jurisdictions, providing
corporations, governments, investors, institutions and individuals
with a broad range of financial products and services.
Additional information may be found at www.citigroup.com | X:
@Citi | YouTube: www.youtube.com/citi | Facebook:
www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
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version on businesswire.com: https://www.businesswire.com/news/home/20240517180277/en/
Media Contact: Danielle Romero Apsilos 212 816 2264
danielle.romeroapsilos@citi.com
Fixed Income Investor Contact: Peter Demoise 212 559 2718
peter.demoise@citi.com
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