Printer Friendly
The Free Library
14,757,244 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Citigroup to Redeem Preferred Stock, Series S.


NEW YORK--(BUSINESS WIRE)--October 15, 1999--

Citigroup announced today that on November 15, 1999 it will redeem for cash all outstanding depositary shares of its 8.30% 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 S. 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.

Currently, $125 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 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 Corporate Actions, P.O. Box 2544, Jersey City, New Jersey 07303-2544.

Citigroup, the most global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page.
 company, provides some 100 million consumers, corporations, governments and institutions in 100 countries with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and asset management. The 1998 merger of Citicorp and Travelers Group brought together such brand names as Citibank, Travelers, Salomon Smith Barney, Commercial Credit (now named CitiFinancial) and Primerica under Citigroup's trademark red umbrella. Additional information can be found at: www.citigroup.com.
COPYRIGHT 1999 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Oct 15, 1999
Words:196
Previous Article:Creative Payment Services Inc. Selected by Top Discount Shopping Service for Check Payment Processing.
Next Article:Anything Internet Soon to Launch Specialty Stores on the Internet Not Found at Amazon's zSHOPS.
Topics:



Related Articles
Security Pacific's bond offering goes for naught.
Citigroup to Redeem Preferred Stock, Series T.
Citigroup Announces 14.3% Increase in Quarterly Common Dividend, Declares Dividends On Preferred Stock; 14th Consecutive Year of Common Dividend...
Citigroup to Redeem Preferred Stock, Series K.
Citigroup to Redeem Preferred Stock, Series U.
Citigroup to Redeem Preferred Securities.
California Federal Preferred Capital Corporation Announces Redemption of 9 1/8% Series A Noncumulative Exchangeable Preferred Stock and Declares...
Citigroup to Redeem Citicorp Capital III Trust Preferred Securities.
Citigroup to Redeem Preferred Stock.
Axis seeks capital boost through preferred share sale.(AXIS Capital Holdings Ltd.)(Brief Article)

Terms of use | Copyright © 2009 Farlex, Inc. | Feedback | For webmasters | Submit articles