|
|
|
Citigroup Inc | 7.125% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series J (C.PRJ)
Prospectus excerpt: Citigroup Inc. is offering 36,000,000 depositary shares, each representing a 1/1,000th interest in a share of perpetual 7.125% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series J, $1.00 par value, with a liquidation preference of $25,000 per share (equivalent to $25 liquidation preference per depositary share) (the ÙPreferred Stockˆ). Each depositary share, evidenced by a depositary receipt, entitles the holder, through the depositary, to a proportional fractional interest in all rights and preferences of the Preferred Stock (including dividend, voting, redemption, and liquidation rights). Citigroup will pay cash dividends on the Preferred Stock, only when, as, and if declared by the board of directors of Citigroup, or a duly authorized committee of the board, out of funds legally available to pay dividends, (i) from the date of issuance of the Preferred Stock to, but excluding September 30, 2023, at an annual rate of 7.125% on the liquidation preference amount of $25,000 per share of Preferred Stock (equivalent to $1.78125 per depositary share per year), quarterly in arrears, on March 30, June 30, September 30 and December 30 of each year (each, a Ùdividend payment dateˆ), beginning on December 30, 2013, and (ii) from, and including, September 30, 2023, at an annual rate equal to three-month LIBOR plus 4.040% on the liquidation preference amount of $25,000 per share of Preferred Stock, quarterly in arrears, on each dividend payment date, beginning on December 30, 2023. Dividends on the Preferred Stock will not be cumulative. Citigroup may redeem the Preferred Stock (i) in whole or in part, from time to time, on any dividend payment date on or after September 30, 2023, or (ii) in whole but not in part at any time within 90 days following a Regulatory Capital Event (as defined on page S-11), in each case at a cash redemption price equal to $25,000 per share of Preferred Stock (equivalent to $25 per depositary share) plus any declared and unpaid dividends and without accumulation of any undeclared dividends, to but excluding the redemption date. If Citigroup redeems the Preferred Stock, the depositary will redeem a proportionate number of depositary shares. Under current rules and regulations, Citigroup would need regulatory approval to redeem the Preferred Stock. The Preferred Stock will not have voting rights, except in the limited circumstances described in ÙDescription of the Preferred Stock ?Voting Rightsˆ beginning on page S-12 and as specifically required by Delaware law. Full Prospectus PDF », Secondary Prospectus PDF », C Page »
Series: | J | Alternate symbology: | C-J, C-PJ, CprJ | Redeemable?: | Yes | Call Date: | 9/30/2023 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | No | Shares Offered: | 36,000,000 | Overallotment: | 5,400,000 | Liquidation Preference: | $25.00 | Recent Market Price: | $24.97 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-0.03 (-0.12%) | Annualized Dividend: | 2.439242 | Recent Ex-Date: | 3/18/2024 | Current Yield: | 9.77% | Original Coupon: | 7.125% beginning on December 30, 2013, and from, and including, September 30, 2023, at an annual rate equal to three-month LIBOR plus 4.040% on the liquidation preference amount of 5,000 per share of Preferred Stock, quarterly in arrears, on each dividend payment date, beginning on December 30, 2023. | Pay Period: | Quarterly | Pay Dates: | 30-Mar, 30-Jun, 30-Sep, 30-Dec | CDx3 Compliance Rating: |
Learn C.PRJ's Rating
|
|
Citigroup is a financial services holding company whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. Co. operates two primary operating segments: Institutional Clients Group, which includes banking and markets and securities services; and Global Consumer Banking, which provides banking services to retail customers through retail banking, branded cards and, in the U.S., retail services. Preferreds: C.PRG, C.PRH, C.PRV, C.PRZ, C.PRR, C.PRQ, C.PRO, C.PRU, C.PRW, C.PRE, C.PRF, C.PRI, C.PRP, C.PRM, C.PRN, C.PRC, C.PRJ, C.PRK, C.PRL, C.PRS Open the C Information Page »
|
Name: |
Citigroup Inc |
Website: |
www.citigroup.com |
Sector: |
Banking & Savings |
Number of ETFs Holding C: |
114 (see which ones) |
Total Market Value Held by ETFs: |
$13,526,307,810.22 |
Total Market Capitalization: |
$109,120,000,000 |
% of Market Cap. Held by ETFs: |
12.40% |
|
|
|
|
|