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Citigroup announces planned adjustment of T-DECS settlement rates
By Ashley Montgomery
Kansas City, Kan., May 23 - Citigroup Inc. plans to adjust the settlement rates of its T-DECS on May 25, the company announced in a press release.
The rates will be adjusted as follows:
• The minimum settlement rate will change to 2.5434 from 2.5426;
• The maximum settlement rate will change to 3.1792 from 3.1783;
• The reference price will change to $31.45 from $31.46; and
• The threshold appreciation price will change to $39.32 from $39.33.
The company said the adjustments are due to a $0.01 dividend per share of common stock to be paid May 25.
Citigroup is a financial services company based in New York.
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