By Andrea Heisinger
Omaha, Aug. 8 - Citigroup Capital XIX priced $1.1 billion of 60-year 7.25% enhanced trust preferred securities (Aa2/A+) Wednesday at par of $25 per capital security.
Citigroup Global Markets Inc. was the bookrunner on the deal.
Net proceeds to Citigroup before expenses are $1.066 billion.
The deal included a total of 44 million of the trust preferreds.
Citigroup will apply to list the securities on the New York Stock Exchange.
| Issuer: | Citigroup Capital XIX
|
| Issue: | Enhanced trust preferred securities
|
| Amount: | $1.1 billion (44 million securities)
|
| Maturity: | Aug. 15, 2067
|
| Bookrunner: | Citigroup Global Markets Inc.
|
| Coupon: | 7.25%, payable quarterly
|
| Price: | Par of $25
|
| Call features: | Aug. 15, 2012 onwards at par
|
| Trade date: | Aug. 8
|
| Settlement date: | Aug. 15 (long first coupon of Dec. 15, 2007)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: A+
|
| Fitch: AA
|
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