Citibank Announces $1.5 Billion Redemption of 2.844% Fixed Rate / Floating Rate Notes due May 2022 & $1.5 Billion Redemption ...
May 05 2021 - 4:15PM
Business Wire
Citibank, N.A. is announcing the redemption, in whole,
constituting $1,500,000,000 in aggregate principal amount, of its
2.844% Fixed Rate / Floating Rate Notes due May 2022 (the “FXD /
FRN notes”) (ISIN: US17325FAY43), and the redemption, in whole,
constituting $1,500,000,000 in aggregate principal amount, of its
Floating Rate Notes due May 2022 (the “FRN notes”, and together
with the FXD / FRN notes, the “notes”) (ISIN: US17325FAX69).
The redemption date for the notes is May 20, 2021. The cash
redemption price payable for the notes on May 20, 2021 will equal
par plus accrued and unpaid interest. The redemption announced
today is consistent with Citibank's liability management strategy
and reflects its ongoing efforts to enhance the efficiency of its
funding and capital structure. Citibank 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 Citibank's net interest
margin and borrowing costs, the overall remaining tenor of
Citibank's debt portfolio, capital impact, as well as overall
market conditions.
Beginning on the redemption date, the notes will no longer be
outstanding, and interest will no longer accrue on such
securities.
Citibank, N.A. is the paying agent for the notes.
Citigroup, the leading global bank, has approximately 200
million customer accounts and does business in more than 160
countries and jurisdictions. Citigroup provides consumers,
corporations, governments and institutions with a broad range of
financial products and services, including consumer banking and
credit, corporate and investment banking, securities brokerage,
transaction services, and wealth management.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210505005902/en/
Media Contacts: Jennifer Lowney (212) 793-3141 Investors:
Elizabeth Lynn (212) 559-2718 Fixed Income Investors: Thomas Rogers
(212) 559-5091
Citigroup (NYSE:C)
Historical Stock Chart
From Mar 2024 to Apr 2024
Citigroup (NYSE:C)
Historical Stock Chart
From Apr 2023 to Apr 2024