Citigroup to Redeem Series P Preferred Stock

Citigroup will fully redeem all $2 billion of its 5.950% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series P, on May 15, 2025. Holders will receive $1,000 per Depositary Share plus the previously declared $29.75 semi-annual dividend if recorded by May 5, 2025. After the redemption date, the shares will no longer accrue dividends or remain outstanding.

This move is part of Citi’s broader strategy to optimize its funding and capital structure. The redemption is influenced by market conditions, capital impact, and regulatory factors. Computershare Trust Company is handling the transaction.