Preferred Stock Channel
Market News Video Self Directed Investor The Warren Buffetts Next Door Stock message boards
Citigroup Inc | 6.875% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series K (C.PRK)

Prospectus excerpt:  Citigroup Inc. is offering 52,000,000 depositary shares, each representing a 1/1,000th interest in a share of perpetual 6.875% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series K, $1.00 par value, with a liquidation preference of $25,000 per share (equivalent to $25 liquidation preference per depositary share) (the “Preferred Stock”). 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 November 15, 2023, at an annual rate of 6.875% on the liquidation preference amount of $25,000 per share of Preferred Stock (equivalent to $1.71875 per depositary share per year), quarterly in arrears, on February 15, May 15, August 15 and November 15 of each year (each, a “dividend payment date”), beginning on February 15, 2014, and (ii) from, and including, November 15, 2023, at an annual rate equal to three-month LIBOR plus 4.130% on the liquidation preference amount of $25,000 per share of Preferred Stock, quarterly in arrears, on each dividend payment date, beginning on February 15, 2024. 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 November 15, 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.

Full Prospectus PDF », C Page »

Alternate symbology:C-K, C-PK, CprK
Call Date:11/15/2023
Shares Offered:52,000,000
Liquidation Preference:$25
Recent Market Price:$27.35
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$2.35 (9.40%)
Annualized Dividend:1.71875
Recent Ex-Date:1/31/2019
Current Yield:6.28%
Original Coupon:6.875% beginning on February 15, 2014, and (ii) from, and including, November 15, 2023, at an annual rate equal to three-month LIBOR plus 4.130% beginning on February 15, 2024
Pay Period:Quarterly
Pay Dates:15-Feb, 15-May, 15-Aug, 15-Nov
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 via two primary business segments: Global Consumer Banking, which provides banking services to retail customers through retail banking, including commercial banking, and Citi-branded cards and Citi retail services; and Institutional Clients Group, which includes banking and markets and securities services.


Open the C Information Page »
Name:  Citigroup Inc
Sector:  Banking & Savings
Number of ETFs Holding C:  73 (see which ones)
Total Market Value Held by ETFs:  $6,113,684,769.19
Total Market Capitalization:  $154,331,000,000
% of Market Cap. Held by ETFs:  3.96%

Top Ten Highest Yielding Preferred Stocks
Feel-Good Income: Socially Responsible Preferreds
Dividend Channel's 25 S.A.F.E. Dividend Stocks
Increasing Payments For Decades

Safer than S.A.F.E: Preferreds of Dividend Channel's
S.A.F.E. Dividend Stocks

Recent Preferred Stock Offerings
Preferred Stocks of Dow Components
Preferred Stocks of S&P 500 Components
Preferred Stocks By Industry
Preferred Stocks Where Insiders Are Buying The Common
High Yield Preferred Stocks
Preferreds Trading At Premiums To Liquidation Preference
Preferreds Trading At Discounts To Liquidation Preference
The Top 10 DividendRank'ed U.S. Stocks
The Top 10 DividendRank'ed Canadian Stocks
Top 25 Broker Analyst Picks of the S&P 500
Stock market game
Quotes delayed 20 minutes

Citigroup Inc | 6.875% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series K (C.PRK) Information Page | Preferred Stock Channel | | Copyright © 2011 - 2019, All Rights Reserved

Nothing in Preferred Stock Channel is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Video widget and dividend videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact Preferred Stock Channel; Meet Our Editorial Staff.