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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.
Shares are to be surrendered for payment of principal plus accrued dividends to Citibank, N.A., as redemption agent, for payment of the redemption price as follows: If by ...
Source: HighBeam Research, Citigroup to Redeem Preferred Stock, Series K.