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CITICORP REAFFIRMS TERMS OF OFFERS TO EXCHANGE COMMON STOCK FOR PREFERRED STOCK SERIES 2 AND 3

 CITICORP REAFFIRMS TERMS OF OFFERS TO EXCHANGE
 COMMON STOCK FOR PREFERRED STOCK SERIES 2 AND 3
 NEW YORK, June 3 /PRNewswire/ -- Citicorp (NYSE: CCI) today reaffirmed its previously announced offers to exchange 3.72 shares of its Common Stock for each share of its Adjustable Rate Preferred Stock, Second Series (symbol: CCIPr), and to exchange 4.40 shares of its Common Stock for each share of its Adjustable Rate Preferred Stock, Third Series (symbol: CCIPrA).
 The Exchange Offers, due to expire at midnight on June 9, 1992, were made through an offering circular dated May 12, 1992, setting out terms and customary conditions. Citicorp is offering to exchange its common stock for any and all shares of the two series of Preferred Stock validly tendered, with neither of the Exchange Offers conditioned on a minimum number of shares being tendered. There have been no adjustments to the original terms of either offer.
 Nancy S. Newcomb, Senior Corporate Officer for funding, said: "We are pleased with the response to the Exchange Offers and the recognition of their benefits for our preferred stockholders, for our common stockholders and for Citicorp's capital structure and planning. The level of early participation is what we expected and we look for increased activity in these final days of the offers."
 The closing prices of the Citicorp common stock, the Adjustable Rate Preferred Stock, Second Series, and the Adjustable Rate Preferred Stock, Third Series on May 11, 1992 were $19.50, $67.25, and $79.50, respectively. The NYSE prices of the securities at noon on June 3, 1992 were $19.875, $74.125, and $87.50, respectively.
 -0- 6/3/92
 /CONTACT: Exchange Agent at Citibank, N.A. Corporate Trust Service (question regarding tendering procedures), 800-422-2066; Citicorp Investor Relations (other investor questions), 800-342-6690, or 212-559-2718; or Information Agent at Gerogeson & Company (questions regarding receipt offer documents), 800-223-2064/
 (CCI) CO: Citicorp ST: New York IN: FIN SU:


SH -- NY055 -- 6656 06/03/92 14:45 EDT
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Publication:PR Newswire
Date:Jun 3, 1992
Words:329
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