Citigroup to redeem $3.15 billion in notes due 2027 in June

Citigroup Inc. announced it will redeem $3.15 billion in notes due 2027, comprising $2.75 billion of 1.462% Fixed Rate/Floating Rate Notes and $400 million of Floating Rate Notes.

The redemption date is set for June 9, 2026. The bank will pay the cash redemption price at par plus accrued and unpaid interest up to but excluding the redemption date.

The company stated the redemptions align with its liability management strategy and efforts to enhance funding and capital structure efficiency. Citigroup said it will continue evaluating opportunities to redeem or repurchase securities based on factors including economic value, regulatory changes, net interest margin impact, borrowing costs, debt portfolio tenor, capital impact, and market conditions.

Interest will cease accruing on the notes beginning on the redemption date. Citibank, N.A. serves as the paying agent for the transaction.

The Fixed Rate/Floating Rate Notes carry the ISIN US172967NA50, while the Floating Rate Notes have the ISIN US172967MZ11.

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