New Issue: Citigroup prices $2 billion 8.5% preferred stock at par of $25

By Andrea Heisinger

Omaha, May 6 - Citigroup Inc. priced $2 billion, or 80 million shares, of non-cumulative perpetual preferred stock on Tuesday at par of $25, according to an FWP filing with the Securities and Exchange Commission.

The preferreds (A2/A/A+) are non-callable until June 15, 2013.

Citigroup Global Markets Inc. was the bookrunner.

Co-managers were Banc of America Securities LLC, RBC Capital Markets Corp., Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman, Sachs & Co., Lehman Brothers Inc. and Wells Fargo Securities, LLC.

The financial services company is based in New York City.

Issuer:	Citigroup Inc.
Issue:	Non-cumulative preferred stock
Amount:	$2 billion (80 million shares)
Maturity:	Perpetual
Bookrunner:	Citigroup Global Markets Inc.
Co-managers:	Banc of America Securities LLC, RBC Capital Markets Corp., Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman, Sachs & Co., Lehman Brothers Inc., Wells Fargo Securities, LLC
Dividend:	8.5%
Price:	Par of $25
Call:	Non-callable until June 15, 2013
Trade date:	May 6
Settlement date:	May 13
Ratings:	Moody's: A2
	Standard & Poor's: A
	Fitch: A+

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