Citicorp to Redeem Preferred Stock, Series 17.NEW YORK--(BUSINESS WIRE)--July 17, 1998--Citicorp announced today that on Sept. 1, 1998 it will redeem for cash all outstanding shares of its 7 1/2% Noncumulative Preferred Stock Noncumulative preferred stock Preferred stock whose holders must forgo dividend payments when the company misses a dividend payment. Related: Cumulative preferred stock. , Series 17. The redemption price Redemption price See: Call price redemption price 1. The price at which an open-end investment company will buy back its shares from the owners. In most cases, the redemption price is the net asset value per share. 2. will be $25 per depositary share, plus accrued dividends to the date of redemption. Currently $350 million of this preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. is outstanding. Shares are to be surrendered for payment of principal plus accrued dividends to Citibank, N.A., as redemption agent, for payment of the redemption price as follows: If by hand: Citibank, N.A., Corporate Agency & Trust Services, 5th floor, 111 Wall Street, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , N.Y. If by mail: Citibank, N.A., c/o Citicorp Data Distribution, Inc., P.O. Box 1429, Paramus, N.J. 07653. CONTACT: Media: Richard J. Howe, 212/559-9425 or Investors: Sheri Ptashek, 212/559-4658 |
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