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C » Topics » Perpetual Preferred Stock

This excerpt taken from the C 10-K filed Feb 22, 2008.

Perpetual Preferred Stock

The following table sets forth the Company’s perpetual preferred stock outstanding at December 31:

 

                        

Carrying Value

(in millions of dollars)

     Rate     Redeemable in
whole or in part on
or after(1)		    Redemption
price per
share(2)		    Number
of shares		    2007    2006

Series F (3)

   6.365 %   June 16, 2007    $ 250    1,600,000    $ —    $   400

Series G (3)

   6.213 %   July 11, 2007    $ 250    800,000      —    200

Series H (3)

   6.231 %   September 8, 2007    $ 250    800,000      —    200

Series M (3)

   5.864 %   October 8, 2007    $ 250    800,000      —    200

Series V (4)

   Fixed/Adjustable     February 15, 2006    $ 500    250,000      —    —
                           $ —    $1,000

 

(1) Under various circumstances, the Company may redeem certain series of preferred stock at times other than described above.
(2) Liquidation preference per share equals redemption price per share.
(3) Issued as depositary shares, each representing a one-fifth interest in a share of the corresponding series of preferred stock.
(4) Issued as depositary shares, each representing a one-tenth interest in a share of the corresponding series of preferred stock.

 

All dividends on the Company’s perpetual preferred stock are payable quarterly and are cumulative.

On February 15, 2006, Citigroup redeemed for cash all outstanding shares of its Fixed/Adjustable Rate Cumulative Preferred Stock, Series V. The redemption price was $50 per depositary share, plus accrued dividends to the date of redemption. At the date of redemption, the value of the Series V Preferred Stock was $125 million.

On June 18, 2007, Citigroup redeemed for cash shares of its 6.365% Cumulative Preferred Stock, Series F, at the redemption price of $50 per depository share, plus accrued dividends to the date of redemption. At the date of redemption, the value of the Series F Preferred Stock was $400 million.

On July 11, 2007, Citigroup redeemed for cash shares of its 6.213% Cumulative Preferred Stock, Series G, at the redemption price of $50 per depository share, plus accrued dividends to the date of redemption. At the date of redemption, the value of the Series G Preferred Stock was $200 million.

On September 10, 2007, Citigroup redeemed for cash shares of its 6.231% Cumulative Preferred Stock, Series H, at the redemption price of $50 per

depository share, plus accrued dividends to the date of redemption. At the date of redemption, the value of the Series H Preferred Stock was $200 million.

On October 9, 2007, Citigroup redeemed for cash shares of its 5.864% Cumulative Preferred Stock, Series M, at the redemption price of $50 per depository share, plus accrued dividends to the date of redemption. At the date of redemption, the value of the Series M Preferred Stock was $200 million.

This excerpt taken from the C 10-K filed Feb 23, 2007.

Perpetual Preferred Stock

The following table sets forth the Company’s perpetual preferred stock outstanding at December 31:

 

                        

Carrying Value

(in millions of dollars)

     Rate     Redeemable in whole
or in part on or
after (1)		    Redemption
price per
share (2)		    Number of
shares		    2006    2005

Series F (3)

   6.365 %   June 16, 2007    $ 250    1,600,000    $ 400    $ 400

Series G (3)

   6.213 %   July 11, 2007    $ 250    800,000      200      200

Series H (3)

   6.231 %   September 8, 2007    $ 250    800,000      200      200

Series M (3)

   5.864 %   October 8, 2007    $ 250    800,000      200      200

Series V (4)

   Fixed/Adjustable     February 15, 2006    $ 500    250,000      —      125
     $ 1,000    $ 1,125

 

(1) Under various circumstances, the Company may redeem certain series of preferred stock at times other than described above.
(2) Liquidation preference per share equals redemption price per share.
(3) Issued as depositary shares, each representing a one-fifth interest in a share of the corresponding series of preferred stock.
(4) Issued as depositary shares, each representing a one-tenth interest in a share of the corresponding series of preferred stock.

 

All dividends on the Company’s perpetual preferred stock are payable quarterly and are cumulative.

On February 15, 2006, Citigroup redeemed for cash all outstanding shares of its Fixed/Adjustable Rate Cumulative Preferred Stock, Series V. The redemption price was $50.00 per depositary share, plus accrued dividends to the date of redemption. At the date of redemption, the value of the Series V Preferred Stock was $125 million.

This excerpt taken from the C 10-K filed Feb 24, 2006.

Perpetual Preferred Stock

        The following table sets forth the Company's perpetual preferred stock outstanding at December 31:

 
    
    
    
    
   Carrying Value (in millions of dollars)
 
    
   Redeemable in
Whole or in Part
on or After(1)
   Redemption
Price Per
Share(2)
   Number of
Shares
 
   Rate
   2005
   2004
Series F(3)   6.365%   June 16, 2007   $ 250   1,600,000   $ 400   $ 400
Series G(3)   6.213%   July 11, 2007   $ 250   800,000     200     200
Series H(3)   6.231%   September 8, 2007   $ 250   800,000     200     200
Series M(3   5.864%   October 8, 2007   $ 250   800,000     200     200
Series V(4)   Fixed/Adjustable   February 15, 2006   $ 500   250,000     125     125
   
 
 
 
 
 
                      $ 1,125   $ 1,125
                     
 
(1)
Under various circumstances, the Company may redeem certain series of preferred stock at times other than described above.

(2)
Liquidation preference per share equals redemption price per share.

(3)
Issued as depositary shares, each representing a one-fifth interest in a share of the corresponding series of preferred stock.

(4)
Issued as depositary shares, each representing a one-tenth interest in a share of the corresponding series of preferred stock.

        All dividends on the Company's perpetual preferred stock are payable quarterly and are cumulative.

        On February 15, 2006, Citigroup redeemed for cash all outstanding shares of its Fixed/Adjustable Rate Cumulative Preferred Stock, Series V. The redemption price was $50.00 per depositary share, plus accrued dividends to the date of redemption.

This excerpt taken from the C 10-K filed Feb 28, 2005.

Perpetual Preferred Stock

        The following table sets forth the Company's perpetual preferred stock outstanding at December 31:

 
    
    
    
    
   Carrying Value
 
    
   Redeemable in Whole
or in Part on or After(1)
   Redemption Price
Per Share(2)
   Number of Shares
 
   Rate
   2004
   2003
 
    
    
    
    
   (in millions of dollars)
Series F(3)   6.365%   June 16, 2007   $ 250   1,600,000   $ 400   $ 400
Series G(3)   6.213%   July 11, 2007   $ 250   800,000     200     200
Series H(3)   6.231%   September 8, 2007   $ 250   800,000     200     200
Series M(3)   5.864%   October 8, 2007   $ 250   800,000     200     200
Series V(4)   Fixed/Adjustable   February 15, 2006   $ 500   250,000     125     125
                     
 
                      $ 1,125   $ 1,125
                     
 
(1)
Under various circumstances, the Company may redeem certain series of preferred stock at times other than described above.

(2)
Liquidation preference per share equals redemption price per share.

(3)
Issued as depositary shares, each representing a one-fifth interest in a share of the corresponding series of preferred stock.

(4)
Issued as depositary shares, each representing a one-tenth interest in a share of the corresponding series of preferred stock.

        All dividends on the Company's perpetual preferred stock are payable quarterly and are cumulative.

        Dividends on the Series V preferred stock are payable at 5.86% through February 15, 2006, and thereafter at rates determined quarterly by a formula based on certain interest rate indices, subject to a minimum rate of 6% and a maximum rate of 12%. The rate of dividends on the Series V preferred stock is subject to adjustment based upon the applicable percentage of the dividends received deduction.

EXCERPTS ON THIS PAGE:

10-K
Feb 22, 2008
10-K
Feb 23, 2007
10-K
Feb 24, 2006
10-K
Feb 28, 2005

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