Citigroup Announces Approximately €452 Million Redemption Of 4.25% Fixed Rate/Floating Rate Subordinated Notes Due 2030
January 24 2025 - 7:30AM
Business Wire
Citigroup Inc. is announcing the redemption, in whole,
constituting €451,934,000 of its 4.25% Fixed Rate / Floating Rate
Subordinated Notes due 2030 (the “notes”) (ISIN: XS0213026197).
The redemption date for the notes is February 25, 2025 (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.
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 notes, please see the related final terms at the
following web address:
https://www.citigroup.com/rcs/citigpa/akpublic/storage/public/425due022530mtn.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 more than 180 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 | LinkedIn: www.linkedin.com/company/citi | YouTube:
www.youtube.com/citi | Facebook: www.facebook.com/citi
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version on businesswire.com: https://www.businesswire.com/news/home/20250124566310/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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