Citibank Announces Repayment of $ 1.5 Billion of 2.844% Fixed / Floating Rate Notes Due May 2022 and Repayment of $ 1.5 Billion of Floating Rate Notes Due May 2022


NEW YORK–(COMMERCIAL THREAD) – Citibank, NA announces the repayment, in full, of an aggregate amount of $ 1,500,000,000 in principal, of its 2.844% Fixed Rate / Floating Rate Notes due May 2022 (the “FXD / FRN Notes” ) (ISIN: US17325FAY43), and the repayment, in full, of a total amount of $ 1,500,000,000 in principal, of its Floating Rate Bonds maturing in May 2022 (the “FRN bonds”, and together with the FXD bonds / FRN, the “bonds” (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 be equal to par plus accrued and unpaid interest. The takeover announced today is in line with Citibank’s liability management strategy and reflects its continued efforts to improve the efficiency of its funding and capital structure. Citibank will continue to review repurchase or repurchase opportunities for securities, based on several factors including, but not limited to, economic value, regulatory changes, potential impact on net margin of Citibank’s interest and borrowing costs, the overall remaining term of Citibank’s debt portfolio, the impact on capital, as well as general market conditions.

As of the redemption date, the Notes will no longer be in circulation and interest will no longer accrue on such securities.

Citibank, NA is the paying agent for the Notes.

Citigroup, the world’s largest bank, has approximately 200 million accounts receivable and operates in more than 160 countries and jurisdictions. Citigroup offers consumers, businesses, governments and institutions a wide range of financial products and services, including consumer banking and credit, business and investment banking, securities brokerage, financial services transaction and wealth management.


Comments are closed.