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Citigroup to Redeem Preferred Stock, Series K.
Business Editors
NEW YORK--(BUSINESS WIRE)--Oct. 22, 2001
Citigroup (NYSE: C) today announced that on November 21, 2001, it will redeem for cash all outstanding shares of its 8.40% Cumulative Preferred Stock, Series K. The redemption price will be $25.00 per depositary share plus accrued dividends to the date of redemption.
Currently, $250 million of this preferred stock is outstanding.
The Series K Preferred Stock was issued in 1996 by Salomon Inc, which in 1997 merged with a subsidiary of Travelers Group Inc., which in turn merged with Citicorp on Oct. 8, 1998, to form Citigroup.
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