Citigroup to redeem remaining $550 million series J preferred stock

By Wendy Van Sickle

Columbus, Ohio, Feb. 28 – Citigroup Inc. will redeem the remaining outstanding 22,000 $25-par shares of its 7.125% series J fixed-to-floating rate non-cumulative preferred stock, according to a press release.

The shares outstanding amount to $550 million in aggregate liquidation preference, after $400 million liquidation preference of the preferreds were redeemed on Dec. 29.

The redemption will take place on March 29.

The redemption price per depository share will be $25, and holders of record on March 19 will also receive the previously declared regular quarterly dividend of $0.6098105903 per depositary share payable on the redemption date.

Computershare Trust Co. is the paying agent.

Citigroup is a New York-based bank.

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