By Andrea Heisinger
Omaha, Jan. 22 - Citigroup Inc. priced 130 million shares of 8.125% perpetual preferred stock (A2/A/AA-) at $25 to raise $3.25 billion, according to an FWP filing with the Securities and Exchange Commission.
The non-cumulative shares can be redeemed on dividend dates on or after Feb. 15, 2018 at par of the liquidation preference.
Citigroup Global Markets Inc. was bookrunner.
Citigroup will apply to list the securities on the New York Stock Exchange.
The commercial and investment bank is based in New York City.
| Issuer: | Citigroup Inc.
|
| Issue: | Preferred stock
|
| Amount: | $3.25 billion
|
| Maturity: | Perpetual
|
| Bookrunner: | Citigroup Global Markets Inc.
|
| Shares: | 130 million
|
| Price: | $25 per share
|
| Dividend: | 8.125%
|
| Call: | On dividend dates on or after Feb. 15, 2018 at par of liquidation preference
|
| Trade date: | Jan. 18
|
| Settlement date: | Jan. 25
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: AA-
|
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