|
Citigroup, Inc., 6.50% Dep Shares Series T Non-cumul Convertible Preferred Stock
Ticker Symbol: C-I* CUSIP: 172967598 Exchange: NYSE
* NOTE: This security is no longer trading as of 6/17/2013
Security has been Called for: Monday, June 17, 2013
May 14, 2013 -- Citigroup Announces Redemption of Series F Preferred Stock and Series T Convertible Preferred Stock.
New York Citigroup Inc. is redeeming, in whole, all $94.3 million aggregate liquidation preference of Depositary Shares representing interests in its 8.5% Series F Noncumulative Preferred Stock ticker C Pr M the Series F Preferred Stock and its 6.5% Series T Convertible Noncumulative Preferred Stock ticker C Pr I The redemption date for the Series F Preferred Stock and related Depositary Shares is June 15, 2013. The redemption date for the Series T Preferred Stock and related Depositary Shares is June 17, 2013. The cash redemption price, payable on June 17, 2013 for each Depositary Share, will equal: for Series F: $25. Holders of record on June 5, 2013 will receive the previously declared regular quarterly dividend of $0.53125 due on June 15, 2013; and for Series T: $50 plus $0.28889 in accrued and unpaid dividends from the last Series T Preferred Stock dividend payment date to June 17, 2013. _______________ October 20, 2010 -- The Board of Directors of Citigroup (NYSE:C) today declared dividends on preferred stock as follows:
* 6.5% Non-Cumulative Convertible Preferred Stock, Series T, payable November 15, 2010, to holders of record on November 5, 2010. Holders of depositary receipts, each representing one-thousandth of a full convertible preferred share, will be paid $.8125 for each receipt held. On February 27, 2009, at the time of the announcement of its public and private exchange offers, Citi announced the suspension of dividends on its Preferred Stock. Pursuant to the exchange offers, Citi offered to exchange up to $14,923,650,000 of its outstanding publicly-held Preferred Securities for Common Stock at a price per share of $3.25; 98% of the Preferred Stock elected to participate in the exchange offers. Dividends declared today will be paid on the Series AA, T, E and F Preferred Stock that remains outstanding. ____________ On May 7, 2009, Citi announced it will increase the aggregate liquidation value of publicly held preferred stock and trust preferred securities it is offering to exchange for common stock to approximately $20.5 billion, from $15 billion as originally announced on February 27, 2009. All other terms of the offers, including the exchange factors and acceptance priority levels, remain unchanged. Additional information about the terms of the expanded exchange offers is provided below. Citi will offer to acquire any and all issued and outstanding depositary shares representing shares of its Series F, Series AA, Series T and Series E preferred stock. Subject to the terms and conditions of the exchange offers and assuming 100% participation by holders of depositary shares representing these series of preferred stock, Citi will accept for purchase approximately $14.9 billion aggregate liquidation value of preferred stock, which would leave approximately $5.6 billion in aggregate liquidation value available to accept trust preferred securities for purchase. Dividends on outstanding preferred stock not exchanged will be suspended.
|
QUANTUMONLINE.COM SECURITY DESCRIPTION: Citigroup, Inc., 6.50% Depositary Shares each representing 1/1000 of a share of the 6.5% Non-Cumulative Convertible Preferred Stock, Series T, liquidation preference $50 per depositary share, and with no stated maturity. The preferred stock is not redeemable prior to 2/15/2015 except in limited circumstances. On or after 2/15/2015 the preferred shares are redeemable at the issuer's option on any dividend date at $50 per depositary share plus declared and unpaid dividends. Non-cumulative distributions of 6.50% ($3.25) per annum are paid quarterly on 2/15, 5/15, 8/15 & 11/15 to holders of record on the record date fixed by the board, not more than 30 days prior to the payment date (NOTE: the ex-dividend date is at least 2 business days prior to the record date). The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. Dividends paid by this preferred are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page S-40 of the prospectus for further information). The depositary shares are convertible (in lots of 1000 shares) any time at the holder's option into 1482.3503 common shares per 1000 depositary shares of Citigroup Inc. (NYSE: C), an initial conversion price of $33.73 (calculated) per common share. On or after 2/15/2013, if the price of the common stock exceeds 130% of the conversion price for 20 of any 30 consecutive trading days, the company may, at their option, force the preferred shares to be converted into common shares at the then prevailing conversion price. In regard to the payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the convertible preferred stock and the conversion provisions by clicking on the ‘Link to IPO Prospectus’ provided below.
|
Stock Exchange |
Cpn Rate Ann Amt |
LiqPref CallPrice |
Call Date Matur Date |
Moodys/S&P Dated |
Conv Shrs Conv Price |
Distribution Dates |
15% Tax Rate |
NYSE
Chart
|
6.50%
$3.25
|
$50.00
$50.00
|
Called for
6/17/2013
None
|
B1
BB
6/11/2013
|
1.4823503
$33.73
|
2/15, 5/15, 8/15 & 11/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
|
YES
|
Go to Parent Company's Record (C)
IPO - 1/18/2008 - 58.00 Million Shares @ $50.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: CTIPP Changed: 1/28/2008
Market Value $2.9 Billion
Company's Online Information Links
|
Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Address and Phone Numbers |
Address: 399 Park Avenue, New York, NY 10043 |
Main Phone Number |
212-559-1000 |
Fax Number |
Not Available |
Investor Relations
|
212-559-2718
|
Toll Free Phone Number |
800-285-3000 |
CEO - Michael L. Corbat |
CFO - John C. Gerspach |
Find a problem? Please use our Feedback Page or Email us.
Have you filled out our Guestbook? If not, please do.
|
|