Citigroup to redeem all $1.5 billion of 6.875% series K preferreds

By Wendy Van Sickle

Columbus, Ohio, Oct. 16 – Citigroup Inc. will redeem all $1,495,000,000 liquidation preference of its 6.875% fixed-rate/floating-rate non-cumulative series K preferred stock, according to a Monday press release.

The preferreds and related depositary shares will be repaid on Nov. 15 at par of $1,000 per depositary share plus the regular quarterly dividend payable on that date.

Computershare Trust Co., NA is the paying agent.

Citigroup is a New York-based bank.

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