Citigroup to Redeem Preferred Securities.Business Editors NEW YORK--(BUSINESS WIRE)--Jan. 31, 2003 Citigroup Inc. (NYSE NYSE See: New York Stock Exchange : C) today announced that on March 3, 2003 it will redeem for cash all outstanding shares of its Adjustable Rate Adjustable rate Applies mainly to convertible securities. Refers to interest rate or dividend that is adjusted periodically, usually according to a standard market rate outside the control of the bank or savings institution, such as that prevailing on Treasury bonds or notes. Cumulative Preferred Stock Cumulative preferred stock Preferred stock whose dividends accrue, should the issuer not make timely dividend payments. Related: Non-cumulative preferred stock. , Series Q and Adjustable Rate Cumulative Preferred Stock, Series R. 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. in each case will be $25.00 per depositary share plus accrued dividends to the date of redemption. Currently, $175 million of Series Q Preferred Stock is outstanding and $100 million of Series R Preferred Stock is outstanding. Citigroup also announced that on March 3, 2003 it will redeem for cash all outstanding preferred securities of its Citigroup Capital IV 6.850% Trust Preferred Securities (TRUPS TRUPS Capital Trust Pass-Through Securities ). The redemption price will be $25.00 per Preferred Security plus accrued dividends to the date of redemption. Currently, $200 million of such TRUPS are outstanding. In addition, Salomon Smith Barney Holdings Inc. today announced that on March 3, 2003 it will redeem for cash all outstanding preferred securities of its SSBH SSBH Salomon Smith Barney Holdings, inc Capital I 7.200% Trust Preferred Securities (TRUPS). The redemption price will be $25.00 per Preferred Security plus accrued dividends to the date of redemption. Currently, $400 million of such TRUPS are outstanding. Depositary Shares of Series Q Preferred Stock and Series R Preferred Stock 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: c/o Securities Transfer and Reporting Services Inc., attn: Corporate Actions, 100 William Street - Galleria, New York, New York 10038. If by overnight courier: Corporate Actions, MS 45-02-80, 150 Royall Street, Canton, MA 02021. If by mail: Corporate Actions, P.O. Box 43035, Providence, Rhode Island  “Providence” redirects here. For other uses, see Providence (disambiguation). Providence is the capital and the most populous city of the U.S. 02940-3035. Citigroup (NYSE: C), the preeminent global financial services company with some 200 million customer accounts in more than 100 countries, provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Salomon Smith Barney, Banamex, and Travelers Life and Annuity. Additional information may be found at: www.citigroup.com. |
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