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Citigroup, Inc., 6.30% Dep Shares Non-Cumulative Preferred Stock Series S
Ticker Symbol: C-S* CUSIP: 172967317 Exchange: NYSE
* NOTE: This security is no longer trading as of 2/12/2021
Security has been Called for: Friday, February 12, 2021
January 13, 2021 -- Citigroup Inc. is redeeming, in whole, all $1.035 billion aggregate liquidation preference of Series S Depositary Shares representing interests in its 6.300% Noncumulative Preferred Stock, Series S (ticker “C-S) (the “Series S Preferred Stock”). The redemption date for the Series S Preferred Stock and related Series S Depositary Shares is February 12, 2021 (the “Series S Redemption Date”). The cash redemption price, payable on February 12, 2021, for each Series S Depositary Share, will equal $25. Holders of record on a date to be declared by Citigroup’s board of directors prior to the Series S Redemption Date will receive the regular quarterly dividend due on February 12, 2021, in an amount that will be declared prior to the Series S Redemption Date.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Citigroup, Inc., 6.30% Depositary Shares each representing a 1/1000 interest in a share of Non-cumulative Preferred Stock, Series S, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 2/12/2021 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Non-cumulative distributions of 6.30% per annum ($1.575 per annum or $0.39375 per quarter) will be paid quarterly on 2/12, 5/12, 8/12 & 11/12 to holders of record on the record date fixed by the board, not more than 30 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. This security is possibly subject to an early call as a result of the occurrence of a regulatory capital treatment event which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet (see the prospectus for further information). Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page S-21 of the prospectus for further information). This security was rated as Ba2 by Moody’s and BB+ by S&P at the date of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (C)
IPO - 1/26/2016 - 36.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: CTGGP Changed: 2/09/2016
Market Value $900.0 Million
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: 388 Greenwich Street, New York, NY 10013 |
Main Phone Number |
212-559-1000 |
Fax Number |
Not Available |
Investor Relations
Thomas Rogers
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212-559-5091
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Toll Free Phone Number |
800-285-3000 |
CEO - Michael L. Corbat |
CFO - Mark Mason |
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