Citigroup To Redeem $2.75 Bln Of 5.610% Floating Rate Notes

(RTTNews) - Citigroup Inc. (C), an investment bank and financial services corp., on Wednesday announced that it will redeem in full $2.75 billion of its 5.610% Fixed Rate/Floating Rate Notes due 2026 on September 29.

The cash redemption price will equal par plus accrued and unpaid interest up to, but excluding, the redemption date. Interest on the notes will cease to accrue from the redemption date.

The company said the redemption is part of its liability management strategy and ongoing efforts to optimize funding and capital structure.

In the pre-market trading, Citigroup is 0.20% higher at $103.25 on the New York Stock Exchange.