Citigroup to fully redeem three series of trust preferred securities

By Tali Rackner

Norfolk, Va., March 27 - Citigroup Inc. will redeem in full three series of its trust preferred securities, according to a company news release.

The following will be redeemed on April 28:

• Citigroup Capital IX's 6% trust preferreds at par of $25 plus $0.31250 of accrued distributions;

• Citigroup Capital XI's 6% trust preferreds at par of $25 plus $0.12917 of accrued distributions; and

• Citigroup Capital XVII's 6.35% enhanced trust preferreds at par of $25 plus $0.18962 of accrued distributions.

The trust preferreds are being redeemed, along with the common securities issued by Citigroup Capital IX, Citigroup Capital XI and Citigroup Capital XVII and held by Citigroup, as a result of the concurrent redemption in whole by Citigroup of the junior subordinated debt securities held by each capital trust that underlie the respective series of redeemed trust preferreds.

The Bank of New York Mellon is the paying agent.

Citigroup is a New York City-based financial services company.

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