If you purchase the capital securities, you are entitled to receive cumulative cash distributions at an annual rate of 7.250% of the liquidation amount of $25 per capital security. Distributions will accumulate from the date Citigroup Capital issues the capital securities and will be paid quarterly in arrears on March 15, June 15, September 15, and December 15 of each year, beginning December 15, 2007.
If Citigroup defers interest payments on the junior subordinated debt securities, Citigroup Capital will defer distributions on the capital securities. A deferral may extend for up to 40 consecutive quarterly periods (10 years) without causing an event of default and acceleration on the junior subordinated debt securities. A deferral of distributions cannot extend, however, beyond the maturity date of August 15, 2067.
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Citigroup is a financial services holding company whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. Co. operates two primary operating segments: Institutional Clients Group, which includes banking and markets and securities services; and Global Consumer Banking, which provides banking services to retail customers through retail banking, branded cards and, in the U.S., retail services. Preferreds: C.PRG, C.PRH, C.PRV, C.PRZ, C.PRR, C.PRQ, C.PRO, C.PRU, C.PRW, C.PRE, C.PRF, C.PRI, C.PRP, C.PRM, C.PRN, C.PRC, C.PRJ, C.PRK, C.PRL, C.PRS Open the C Information Page » |
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