New York Citigroup Inc. is announcing the redemption, in whole, constituting $1,500,000,000 of its 2.312% Fixed Rate / Floating Rate Notes due 2022 (the “FXD / FRN notes”) (ISIN: US17308CC463), and the redemption, in whole, constituting $500,000,000 in aggregate principal amount, of its Floating Rate Notes due 2022 (the “FRN notes” and together with the FXD / FRN notes, the “notes”) (ISIN: US17308CC380).
The redemption date for the notes is November 4, 2021 (the “redemption date”). The cash redemption price payable for the notes on the redemption date will equal par plus accrued and unpaid interest.
The redemptions announced today are consistent with Citigroup's liability management strategy and reflects its ongoing efforts to enhance the efficiency of its funding and capital structure. Citigroup will continue to consider opportunities to redeem or repurchase securities, based on several factors, including without limitation, the economic value, regulatory changes, potential impact on Citigroup's net interest margin and borrowing costs, the overall remaining tenor of Citigroup's debt portfolio, capital impact, as well as overall market conditions.
Beginning on the redemption date, the notes will no longer be outstanding, and interest will no longer accrue on such securities.
Citibank, N.A. is the paying agent for the FXD / FRN notes. For further information on the FXD / FRN notes, please see the related prospectus supplement at the following web address: https://www.citigroup.com/citi/fixedincome/data/docs/401703319_1.pdf
Citibank, N.A. is the paying agent on the FRN notes. For further information on the FRN notes, please see the related prospectus supplement at the following web address: https://www.citigroup.com/citi/fixedincome/data/docs/401703318_1.pdf
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