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Citigroup Announces $3 Billion Redemption Of Trust Preferred Securities

Stocks in this article: C

The Redeemed TRUPS ® are being redeemed, along with the common securities issued by Citigroup Capital VII, Citigroup Capital VIII, Citigroup Capital XIV and Citigroup Capital XV (collectively, the “Capital Trusts”) and held by Citigroup, as a result of the concurrent redemption in whole by Citigroup of the junior subordinated debt securities held by each Capital Trust which underlie the respective series of Redeemed TRUPS ®.

Beginning on the redemption date, the Redeemed TRUPS ® will no longer be considered outstanding and distributions will no longer accrue on such securities.

The Bank of New York Mellon is the paying agent for the Redeemed TRUPS ®.

For further information on the Redeemed TRUPS ®, please see the related prospectuses at the following web addresses:

For Citigroup Capital VII:

http://www.sec.gov/Archives/edgar/data/831001/000095012301504594/y51412b4e424b4.txt

For Citigroup Capital VIII:

http://www.sec.gov/Archives/edgar/data/831001/000095012301506443/y53064bae424b4.txt

For Citigroup Capital XIV:

http://www.sec.gov/Archives/edgar/data/831001/000095012306008693/y23012e424b2.htm

For Citigroup Capital XV:

http://www.sec.gov/Archives/edgar/data/831001/000095012306011840/y24815bce424b2.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..

Certain statements in this press release, including without limitation the expected impact of the redemptions on Citigroup's Tier 1 Capital, Tier 1 Common, net interest margin, borrowing costs and capital position under Basel III, are "forward-looking statements" within the meaning of the rules and regulations of the U.S. Securities and Exchange Commission. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results and capital and other financial condition may differ materially from those included in these statements due to a variety of factors, including without limitation the actual completion of the announced redemptions, the completion of the final analysis of the capital impact on Citigroup as a result of the redemptions and the factors contained in Citi's filings with the U.S. Securities and Exchange Commission, including without limitation the "Risk Factors" section of Citi's 2012 Annual Report on Form 10-K. Precautionary statements included in such filings should be read in conjunction with this release.

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