Citigroup stock faces USD 1.0 billion Series Y redemption

Published on 11/13/2026 at 12:52 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Citigroup stock faces a scheduled preferred-stock redemption that will simplify part of the bank's funding structure. Payment follows on November 16.

Redemption reshapes Citi funding

Citigroup will redeem its Series Y preferred stock on November 15, with payment scheduled for the following business day.
Eligible holders will receive the previously declared quarterly dividend alongside the cash redemption payment.
The transaction ends dividend accrual and removes the depositary shares from circulation after payment.

Citigroup Inc., US1729674242, Illustration mit AI erstellt.

Citigroup Inc. will fully redeem its Series Y preferred stock on Sunday, November 15, 2026, in a capital-structure move announced by the bank on November 9. The company said in its redemption announcement that the transaction covers the full liquidation preference of its 4.150% Fixed Rate Reset Noncumulative Preferred Stock, Series Y.

The redemption involves 1,000,000 depositary shares, each representing a 1/25th interest in a preferred share. Citigroup will pay USD 1,000 for each depositary share on Monday, November 16, the business day after the redemption date. Holders of record on November 6 will also receive the previously declared quarterly dividend of USD 10.375 per depositary share on the payment date.

Payment ends the Series Y security

Dividend accrual will stop from the redemption date. Once the payment is made, the depositary shares representing the redeemed preferred stock will no longer be outstanding. Computershare Trust Company is acting as paying agent for the transaction.

For investors in the preferred security, the announcement sets a clear timetable for the final cash payment and dividend. The redemption removes the 4.150% Series Y instrument from Citigroup's funding structure, ending its associated dividend stream after the scheduled settlement.

Citigroup said the decision reflects efforts to improve the efficiency of its funding and capital structure. The bank cited economic value, regulatory changes, potential effects on net interest margin and borrowing costs, the remaining tenor of its debt portfolio, capital impact and broader market conditions as factors in redemption decisions.

Common stock remains the market focus

Citigroup stock traded at 112.99 euros on Lang & Schwarz at 12:48 CET on Friday, November 13, 2026. The quote provides a current trading reference for the common stock while the Series Y transaction concerns a separate preferred-security class.