This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Citigroup Announces Redemption Of Trust Preferred Securities Issued By Citigroup Capital XX

Stocks in this article: C

Citigroup Inc. is announcing the redemption of a series of Citi trust preferred securities – the 7.875% Enhanced TRUPS ® issued by Citigroup Capital XX (CUSIP: 173085200) (the “ETRUPS ®”). The ETRUPS ® are being redeemed, along with the common securities issued by Citigroup Capital XX and held by Citi, as a result of the concurrent redemption in whole by Citi of the junior subordinated debt securities held by Citigroup Capital XX which underlie the ETRUPS ®.

The redemption date for the ETRUPS ® will be December 17, 2012, and the cash redemption price paid on the redemption date will equal $25 plus $0.503125 in accumulated and unpaid distributions per ETRUPS ®.

Beginning on the redemption date, the ETRUPS ® will no longer be considered outstanding and distributions will no longer accrue on the ETRUPS ®.

Under the terms and conditions of the ETRUPS ® Citigroup has the option to redeem the ETRUPS ® in whole or in part on one or more occasions any time on or after December 15, 2012. Accordingly, Citi has elected to redeem the ETRUPS ® in whole on December 17, 2012. As a result of this redemption, Citigroup’s Basel I Tier 1 Capital is expected to decrease by approximately $0.45B and its Basel I Tier 1 Capital ratio is expected to decrease by approximately 4.6 basis points. Citigroup’s Tier 1 Common capital and related Tier 1 Common ratio, under Basel I and as estimated under Basel III, will not be affected by this redemption.

For further information on this series of Citi trust preferred securities, please see the Capital XX ETRUPS ® prospectus at the following web address:

http://www.sec.gov/Archives/edgar/data/831001/000095012307015811/y40040b2e424b2.htm

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs