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Citigroup Capital XIII, 7.875% Fixed/Floating TruPS Trust Preferred Securities
Ticker Symbol: C-N CUSIP: 173080201 Exchange: NYSE
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Citigroup Capital XIII, 7.875% 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 10/30/2015 at $25 per share plus accrued and unpaid dividends, and maturing 10/30/2040. Cumulative distributions of 7.875% ($1.96875) per annum are paid quarterly on 1/30, 4/30, 7/30 & 10/30 up to 10/30/2015 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 one business day prior to the record date). From 10/30/2015, dividends will be paid at a floating rate of the three-month LIBOR CME Three Month Term SOFR plus 0.26161% plus 6.37%. 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 7.875% Junior Subordinated Deferrable Interest Debentures due 10/30/2040 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)
Notes: On February 27, 2023 -- Citi issued a press release to provide notice that, after the Cessation Date, the relevant USD LIBOR rate in each Legacy LIBOR Instrument is planned to be replaced with the CME Term SOFR Reference Rate published for the one-, three- or six-month tenor corresponding to the relevant USD LIBOR rate as administered by CME Group Benchmark Administration, Ltd. (or any successor administrator thereof) (“Term SOFR”) plus a tenor spread adjustment. The replacement of USD LIBOR with Term SOFR plus a tenor spread adjustment will be effective for determinations under the terms of the Legacy LIBOR Instruments that are made after the Cessation Date, but will not affect any determinations made on or prior to the Cessation Date. The 3 Month Tenor spread adjustment is listed as 0.26161%. for this secuirty.
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IPO - 10/1/2010 - 89.84 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: CIGTP Changed: 10/06/2010
Market Value $ Million
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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: 388 Greenwich Street, New York, NY 10013 |
| Main Phone Number |
212-559-1000 |
| Fax Number |
Not Available |
| Investor Relations
Elizabeth Lynn
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212-793-2033
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| Toll Free Phone Number |
800-285-3000 |
| CEO - Jane Fraser |
CFO - Mark Mason |
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