Certain statements in this release, including without limitation the expected impact of the redemption on Citigroup's Tier 1 Capital and Tier 1 Common capital, 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 may differ materially from those included in these statements due to a variety of factors, including without limitation the actual completion of the redemption, the completion of the final analysis of the capital impact on Citigroup as a result of the redemption and the precautionary statements contained in Citi's filings with the U.S. Securities and Exchange Commission, including without limitation the "Risk Factors" section of Citi's 2011 Annual Report on Form 10-K. Precautionary statements included in such filings should be read in conjunction with this release.Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
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.