Citigroup Inc. announced on Friday its plans to fully redeem €451.93 million of its 4.25% Fixed Rate/Floating Rate Subordinated Notes, maturing in 2030. The complete redemption is scheduled for February 25.
On the redemption date, Citigroup will disburse a cash redemption price equal to the par value of the notes plus any accrued and unpaid interest up to, but not including, the redemption date. Post-redemption, the notes will cease to accumulate interest. This strategic move is part of Citigroup's broader liability management approach, aimed at enhancing the efficiency of its financing and capital structure.
Currently, Citigroup's stock is trading at $81.92, reflecting a decline of 0.08% or $0.07 on the New York Stock Exchange.
