NEW YORK–(BUSINESS WIRE)–Citigroup Inc. announces the repayment, in full, of $2,000,000,000 of its 3.142% fixed/floating rate notes due 2023 (the “Notes”) (ISIN: US172967LV16).
The redemption date for the Notes is January 24, 2022 (the “Redemption Date”). The cash redemption price payable for the Notes on the redemption date will be equal to par plus accrued and unpaid interest.
The buyout announced today is consistent with Citigroup’s liability management strategy and reflects its ongoing efforts to improve the efficiency of its funding and capital structure. Citigroup will continue to review opportunities to repurchase or repurchase securities, based on multiple factors including, but not limited to, economic value, regulatory changes, potential impact on net interest margin and Citigroup’s borrowing costs, the overall remaining term of Citigroup’s debt portfolio, impact on capital, as well as general market conditions.
From the date of redemption, the Notes will no longer be outstanding and interest will no longer accrue on such securities.
Citibank, NA is the paying agent for the Notes. For more information on the ratings, please see the relevant final terms at the following web address: https://www.citigroup.com/citi/fixed income/data/526669ACL.PDF
Citi, the world’s largest bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides individuals, businesses, governments and institutions with a wide range of financial products and services, including retail banking and lending, corporate and investment banking, securities brokerage, transaction and wealth management services.
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