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. |
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