Tuesday, June 11, 2024

Citigroup Announces $1.25B Redemption of 4.044% Fixed Rate Notes due 2024

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Nelson Oko
Nelson Oko
Based in Nigeria, Nelson Oko is a features editor at Real Simple where he manages the publication’s personal finance, career, product testing and pets coverage. His work has also been seen in Travel + Leisure, Better Homes and Gardens, Southern Living and more.

NEW YORK – Citigroup Inc. is announcing the redemption, in whole, constituting $1,250,000,000 of its 4.044% Fixed Rate / Floating Rate Notes due 2024 (the “fixed rate / floating rate notes”) (ISIN: US172967LZ20), and the redemption, in whole, constituting $1,000,000,000 of its Floating Rate Notes due 2024 (the “floating rate notes” and together with the fixed rate / floating rate notes, the “notes”) (ISIN: US172967MA69).

The redemption date for the notes is June 1, 2023 (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.

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