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Citigroup Capital XII, 8.50% Fixed/Floating Trust Preferred Securities
Ticker Symbol: C-J** CUSIP: 17315D204 Exchange: NYSE
* NOTE: This security is no longer trading as of 7/18/2012
Security has been Called for: Wednesday, July 18, 2012
From the news release dated Jun 8, 2012 -- Redemption of Trust Preferred Securities Issued by Citigroup Capital XII and Citigroup Capital XXI. Citi also announced the redemption of two series of Citi trust preferred securities – the 8.500% Fixed Rate/Floating Rate TRUPS issued by Citigroup Capital XII (CUSIP:17315D204) and the 8.300% Fixed Rate/Floating Rate Enhanced TRUPS® issued by Citigroup Capital XXI (CUSIP:173094AA1). The TRUPS® are being redeemed, along with the common securities issued by Citigroup Capital XII and Citigroup Capital XXI and held by Citi, as a result of the concurrent redemption in whole by Citi of the junior subordinated debt securities held by Citigroup Capital XII and Citigroup Capital XXI which underlie the TRUPS®. ____________ This security is possibly subject to an early call as a result of the occurrence of a regulatory capital event (see prospectus for further information) stemming from the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Citigroup Capital XII, 8.50% Fixed Rate/Floating Rate Trust Preferred Securities, liquidation amount $25 per share, guaranteed by Citigroup Inc. (NYSE: C) (See our definition of Guaranteed in our Glossary of Income Investing Terms for the technicalities of the guarantee), redeemable at the issuer's option on or after 3/30/2015 at $25 per share plus accrued and unpaid dividends, and maturing 3/30/2040. Cumulative distributions of 8.50% ($2.125) per annum are paid quarterly on 3/30, 6/30, 9/30 & 12/30 up to 3/30/2015 to holders of record on the record date which is one business day prior to the payment date while the securities remain in book-entry form (NOTE: the ex-dividend date is at least 2 business days prior to the record date). From 3/30/2015, dividends will be paid at a floating rate of the three-month LIBOR plus 5.870%. Dividends paid by trust preferred securities are derived from interest paid to the underlying debt securities and therefore are NOT eligible for the 15% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. The company has the right, at any time, to defer dividend payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 8.50% Junior Subordinated Deferrable Interest Debentures due 3/30/2040 which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (C)
IPO - 3/16/2010 - 80.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $2.0 Billion
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 399 Park Avenue, New York, NY 10043 |
| Main Phone Number |
212-559-1000 |
| Fax Number |
212-793-3946 |
| Investor Contact
John Andrews
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212-559-2718
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| Toll Free Phone Number |
877-936-2737 |
| CEO - Vikram Pandit |
CFO - John C. Gerspach |
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