Citigroup To Redeem $1 Billion In Series Y Preferred Stock On November 15

(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 10. Citigroup Inc. will redeem all $1 billion of its Series Y preferred stock on November 15, 2026, as part of efforts to improve the efficiency of its funding and capital structure, the company said.

The redemption covers 1 million depositary shares, each representing a 1/25th interest in the bank's 4.150% Fixed Rate Reset Noncumulative Preferred Stock, Series Y.

Holders will receive $1,000 in cash for each depositary share. The payment is scheduled for November 16, the business day following the redemption date.

Shareholders registered as of November 6 will also receive a previously declared quarterly dividend of $10.375 per depositary share on the payment date.

Citigroup said its decisions on preferred stock redemptions take into account several factors, including economic value, regulatory developments, potential effects on net interest margin and borrowing costs, the maturity profile of its debt portfolio, capital implications and overall market conditions.

Dividends on the preferred stock will cease to accrue from November 15. The redeemed depositary shares will no longer be outstanding as of November 16.

Computershare Trust Company, N.A. will act as the paying agent for the redemption.

Citigroup Inc. (NYSE: C) is a leading global bank founded in 1812 and headquartered in New York. It provides a broad range of financial products and services to consumers, corporations, governments and institutions in more than 160 countries and jurisdictions. The company operates through several major segments, including Institutional Clients Group, Personal Banking and Wealth Management, and has approximately $2.4 trillion in total assets.

MENAFN10112026000187011040ID1111937775