US Market News
2週前
Citi and CREATE-Research Report: Innovation in Asset Management Pivots to ‘Operational Alpha’June 18, 2026 6:00 AM
Business WireKey Highlights:A new Citi and CREATE-Research report reveals a strategic pivot in asset management innovation, with firms now prioritizing operational excellence and process transformationThis shift to ‘operational alpha’ aspires to improve client responsiveness and productivity, with partnerships emerging as a core capability to accelerate innovationWhile full digital transformation will evolve gradually, key trends like mutual fund to ETF conversions are gaining traction. Citi’s Services business is investing over US$2 billion annually to modernize its solutions and empower clientsCiti Investor Services and CREATE-Research today released its latest report “Upping the Innovation Game in the Asset Management Industry”, highlighting how firms are prioritizing operational excellence, process transformation and partnerships as the next frontier of innovation in asset management. The report findings were drawn from a survey of 221 asset managers across 26 countries managing a total of US$34.8 trillion in Assets under Management. Respondents were polled from February to May 2026.In addition to 40 interviews with senior executives from a cross-section of survey respondents, the report highlights a shift from product innovation to process and organizational driven innovation, as firms seek to deliver operational alpha by turning their infrastructure into a competitive edge to improve investor outcomes.Primary findings:The scope of innovation is changing: While innovation remains crucial with 59% viewing it as an overall priority, the scope is moving beyond new products to operational process and organizational transformation as firms respond to fee pressure and rising complexity post the 2008 Global Financial Crisis. 62% cited process innovation as a priority, followed by 41% for organizational innovation and 28% for product innovation. The scope of innovation has expanded to operational excellence for improved costs, quality and credibility.Innovations are targeting multiple goals: Innovation efforts now serve multiple purposes, with 83% citing being more responsive to client needs as a key goal. This includes meeting clients’ return expectations and risk appetites within cost-effective fee structures. 74% reported improving productivity across the value chain as a main goal, while 64% believe in enhancing operating leverage to improve scale.Mutual funds to ETF conversions are gaining client traction: 57% cite the conversion of mutual funds into ETFs as delivering the most client value, underscoring the role of ETFs as an efficient ownership structure for on-exchange assets and a leading investment vehicle in innovation.The digital future will evolve gradually: Despite progress in AI and automation, digital transformation remains a long-term journey, with 57% expecting it to take more than five years as asset managers progress towards a digital future. Challenges include data reliability and explainability issues arising from self-learning systems. Asset managers are taking a measured, “learning by doing” approach in driving the current rate of adoption.Partnership at scale is becoming a strategic core capability: Outsourcing is now evolving into partnerships at scale, with 44% viewing collaboration with third parties as a means to build scale, enhance capabilities, and share risk by combining unique capabilities. Asset managers also view partnerships as an enabler to accelerate innovation and achieve operational alpha.Chris Cox, Global Head of Investor Services at Citi, commented: “The report highlights that asset managers are increasingly looking to form partnerships not just for efficiency, but as a strategy to accelerate innovation and enhance client outcomes. At Citi, driving innovation to deliver client solutions is integral to our growth agenda. Clients deserve true transparency and instant market information to deliver the services their clients will expect. Services continues to invest over US$2 billion annually in platform modernization delivering uniquely integrated securities and cash solutions in real-time. Digital assets will be integrated into the same rails. We are committed to empowering our asset manager clients to build scale, enhance their capabilities and accelerate their innovation agendas.”Amin Rajan, CEO of CREATE-Research and the lead author, commented: “Innovation has been a key instrument for asset managers of all sizes and hues to help them remain relevant in a landscape where competition has turned from benign to malign.”About CitiCiti is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.Additional information may be found at www.citigroup.com | X: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citiView source version on businesswire.com: https://www.businesswire.com/news/home/20260618838500/en/Media Contacts:
Harsha Jethnani harsha.jethnani@citi.comAi Li She ai.li.she@citi.com Original: Citi and CREATE-Research Report: Innovation in Asset Management Pivots to ‘Operational Alpha’
US Market News
4週前
Citigroup Announces $2.75 Billion Redemption of 1.462% Fixed Rate / Floating Rate Notes Due 2027 and $400 Million Redemption of Floating Rate Notes Due 2027June 4, 2026 4:15 PM
Business Wire Citigroup Inc. is announcing the redemption, in whole, constituting $2,750,000,000 of its 1.462% Fixed Rate / Floating Rate Notes due 2027 (the “fixed rate/floating rate notes”) (ISIN: US172967NA50) and the redemption, in whole, constituting $400,000,000 of its Floating Rate Notes due 2027 (the “floating rate notes” and, together with the fixed rate/floating rate notes, the “notes”) (ISIN: US172967MZ11). The redemption date for the notes is June 9, 2026 (the “redemption date”). The cash redemption price for the notes payable on the redemption date will equal par plus accrued and unpaid interest, to but excluding, the redemption date. The redemptions announced today are consistent with Citigroup's liability management strategy and reflect its ongoing efforts to enhance the efficiency of its funding and capital structure. Citigroup will continue to consider opportunities to redeem or repurchase securities, based on several factors, including without limitation, the economic value, regulatory changes, potential impact on Citigroup's net interest margin and borrowing costs, the overall remaining tenor of Citigroup's debt portfolio, capital impact, as well as overall market conditions. Beginning on the redemption date, interest will no longer accrue on the notes. Citibank, N.A. is the paying agent for the notes. For further information on the fixed rate/floating rate notes, please see the related prospectus supplement at the following web address: https://www.citigroup.com/rcs/citigpa/akpublic/storage/public/146due060927.pdf For further information on the floating rate notes, please see the related prospectus supplement at the following web address: https://www.citigroup.com/rcs/citigpa/akpublic/storage/public/FRNdue060927.pdf About Citi Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services. Additional information may be found at www.citigroup.com | X: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi View source version on businesswire.com: https://www.businesswire.com/news/home/20260604857344/en/ Media Contact:
Danielle Romero Apsilos
danielle.romeroapsilos@citi.com Fixed Income Investor Contact:
Peter Demoise
investorrelations@citi.com Original: Citigroup Announces $2.75 Billion Redemption of 1.462% Fixed Rate / Floating Rate Notes Due 2027 and $400 Million Redemption of Floating Rate Notes Due 2027
US Market News
2月前
Citi Announces Increasing the Waterfall Cap and Pricing Terms of Offers to Purchase Three Series of Outstanding Citigroup Inc. NotesMay 6, 2026 4:15 PM
Business Wire Citigroup Global Markets Inc. (“CGMI”), an indirect wholly-owned subsidiary of Citigroup Inc. (“Citigroup”), today announced the pricing terms of its previously announced offers, which commenced on April 22, 2026, to purchase for cash the three series of Citigroup notes set forth in the table below (collectively, the “Notes” and each a “series” of Notes), using a “waterfall” methodology under which CGMI will accept Notes in the order of their respective Acceptance Priority Levels specified in the table below, subject to a $1,285,000,000 amended cap on the aggregate Total Consideration (as defined below) and Tender Offer Consideration (as defined in the offer to purchase, dated April 22, 2026 (the “Offer to Purchase,” as may be amended or supplemented from time to time) that CGMI will be obligated to pay (the “Waterfall Cap”). Each offer to purchase a series of Notes is referred to as an “Offer” and all such offers are referred to collectively as the “Offers.” In connection therewith, CGMI further announced that it is amending the Offers to increase the Waterfall Cap from the previously announced amount of $1,250,000,000 to $1,285,000,000. Except for the increase in the Waterfall Cap as described in this press release, no other terms of the Offers have changed. The Notes had an aggregate principal amount outstanding of approximately $4,750,000,000 as of April 21, 2026. Acceptance
Priority
Level Title of
Security CUSIP / ISIN Exchange
Listing Aggregate
Principal
Amount
Outstanding Reference
U.S.
Treasury
Security Bloomberg
Reference Reference
Yield Fixed
Spread
(basis
points) Total
Consideration1, 2 1 4.650% Notes due 2048 172967MD0 /
US172967MD09 None $2,500,000,000 4.625% UST due Feb 15, 2046 FIT1 5.586% +65 $881.68 2 4.281% Fixed Rate/Floating Rate Callable Senior Notes due 2048 172967LJ8 /
US172967LJ87 Luxembourg Stock Exchange $1,000,000,000 4.625% UST due Feb 15, 2046 FIT1 5.586% +65 $840.00 3 2.904% Fixed Rate/Floating Rate Notes due 2042 172967NF4 /
US172967NF48 None $1,250,000,000 4.625% UST due Feb 15, 2046 FIT1 5.386% +45 $741.60 (1) Per $1,000 principal amount of Notes validly tendered and accepted for purchase (2) The Total Consideration includes the early tender premium of $50 per $1,000 principal amount of Notes. The Offers are being made pursuant to the Offer to Purchase which sets forth in more detail the terms and conditions of the Offers. Capitalized terms used but not otherwise defined herein shall have the meaning given to them in the Offer to Purchase. All Notes validly tendered and not validly withdrawn before 5:00 p.m., New York City time, on May 5, 2026 (the “Withdrawal Date”) having a higher Acceptance Priority Level (as shown in the table above, with 1 being the highest) will be accepted for purchase before any tendered Notes having a lower Acceptance Priority Level (with 3 being the lowest). Because the aggregate principal amount of validly tendered Notes with Acceptance Priority Level 3 would cause the amended Waterfall Cap to be exceeded, such Notes will be accepted on a pro rata basis up to the amended Waterfall Cap, using a proration factor of approximately 19.7% ($146,852,000 aggregate principal amount to be accepted). All Notes with Acceptance Priority Level 3 not accepted for purchase as a result of proration will be rejected from the Offers and returned to the tendering holder. Subject to the terms and conditions set forth in the Offer to Purchase, holders of Notes who validly tendered on or prior to 5:00 p.m., New York City time, on May 5, 2026 (the “Early Tender Date”) and did not validly withdraw their Notes before the Withdrawal Date and whose Notes were accepted for purchase shall be entitled to receive the total consideration per $1,000 principal amount of Notes calculated in the manner set forth in the Offer to Purchase (the “Total Consideration”). The Reference Yields listed in the table above were determined at 10:00 a.m., New York City time, on May 6, 2026 (the “Reference Yield Determination Date”). The Total Consideration includes an early tender premium of $50 per $1,000 principal amount of Notes validly tendered and not validly withdrawn by such holders and accepted for purchase (the “Early Tender Premium”). CGMI’s obligation to accept for purchase and to pay for the Notes validly withdrawn pursuant to the Offers is subject to the satisfaction or waiver, in CGMI’s discretion, of certain conditions, which are more fully described in the Offer to Purchase. Payment for Notes purchased will include accrued and unpaid interest from, and including, the last interest payment date applicable to the relevant series of Notes up to, but not including, the settlement date for Notes accepted for purchase. The settlement date for Notes accepted for purchase in connection with the Early Tender Date is expected to be May 11, 2026 (the “Early Settlement Date”). The Withdrawal Date for the Offers has now passed. As a result, tendered Notes may no longer be withdrawn, except in certain limited circumstances where additional withdrawal rights are required by law (as determined by CGMI). Although the Offers are scheduled to expire at 5:00 p.m., New York City time, on May 20, 2026 (the “Expiration Date”), because holders of Notes subject to the Offers validly tendered and did not validly withdraw Notes before the Withdrawal Date for which the aggregate principal amounts exceeded the amended Waterfall Cap, holders who validly tender Notes following the Early Tender Date will not have any of their Notes accepted for purchase. Global Bondholder Services Corporation has been retained to serve as the depositary and information agent with respect to the Notes. For additional information regarding the terms of the Offers, please contact CGMI at either (800) 558-3745 (toll free) or (212) 723-6106 (collect). Requests for copies of the Offer to Purchase and questions regarding the tender of Notes may be directed to Global Bondholder Services Corporation at (855) 654-2014 (toll free) or (212) 430-3774 (collect). None of CGMI, CGMI’s board of directors, Citigroup, Citigroup’s board of directors, the depositary or the information agent makes any recommendation as to whether any holder of the Notes should tender or refrain from tendering all or any portion of the principal amount of the Notes. This press release is neither an offer to purchase nor a solicitation to buy any of the Notes, and is not a solicitation for acceptance of any of the Offers. CGMI is making the Offers only by, and pursuant to the terms of, the Offer to Purchase. The Offers are not being made to (nor will tenders of Notes be accepted from or on behalf of) holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. This announcement must be read in conjunction with the Offer to Purchase. United Kingdom. The communication of the Offer to Purchase and any such related documents and/or materials related to the Offers are directed only at (i) persons who are outside the United Kingdom (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) are high net worth entities, and other persons to whom such documents and materials may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). Any investment or investment activity to which the Offer to Purchase relates will only be available to, and engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on the Offer to Purchase or any of its contents. Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services. Additional information may be found at www.citigroup.com | X: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi Certain statements in this release, including without limitation the anticipated consummation and successful completion of the Offers (including the satisfaction of the conditions described in the Offer to Purchase), the possible amendment, extension or abandonment of one or more of the Offers, and Citigroup’s successful execution of its liability management strategy, are “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to risks, uncertainties and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors, including without limitation (i) the level of participation in the Offers and (ii) the precautionary statements included in this release and those contained in Citigroup’s filings with the U.S. Securities and Exchange Commission, including without limitation the factors and uncertainties summarized under “Forward-Looking Statements” in Citigroup’s Annual Report on Form 10-K for the year ended December 31, 2025 (the “2025 10-K”) and the factors listed and described under “Risk Factors” in Citigroup’s 2025 10-K. Any forward-looking statements made by or on behalf of Citigroup speak only as to the date they are made, and Citigroup does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made. View source version on businesswire.com: https://www.businesswire.com/news/home/20260506478700/en/ Media Contact:
Danielle Romero Apsilos
danielle.romeroapsilos@citi.com Fixed Income Investor Contact:
Peter Demoise
investorrelations@citi.com Original: Citi Announces Increasing the Waterfall Cap and Pricing Terms of Offers to Purchase Three Series of Outstanding Citigroup Inc. Notes
US Market News
2月前
Citi Announces Offers to Purchase Three Series of Outstanding Citigroup Inc. NotesApril 22, 2026 6:02 PM
Business Wire
Citigroup Global Markets Inc. (“CGMI”), an indirect wholly-owned subsidiary of Citigroup Inc. (“Citigroup”), today announced the commencement of offers to purchase for cash the three series of Citigroup notes set forth in the table below (collectively, the “Notes” and each a “series” of Notes), using a “waterfall” methodology under which CGMI will accept Notes in the order of their respective Acceptance Priority Levels specified in the table below, subject to a $1,250,000,000 cap on the aggregate Total Consideration (as defined below) and Tender Offer Consideration (as defined below) that CGMI will be obligated to pay (the “Waterfall Cap”). Each offer to purchase a series of Notes is referred to as an “Offer” and all such offers are referred to collectively as the “Offers.” The Notes had an aggregate principal amount outstanding of approximately $4,750,000,000 as of April 21, 2026.
Acceptance Priority Level
Title of Security
CUSIP / ISIN
Exchange
Listing
Aggregate Principal Amount Outstanding
Maturity Date
First Par Call Date
Calculation Date(1)
Reference U.S. Treasury Security
Bloomberg Reference Page
Early Tender Premium
Fixed Spread (basis points)
1
4.650% Notes due 2048
172967MD0 / US172967MD09
None
$2,500,000,000
7/23/2048
6/23/2048
Maturity Date
4.625% UST due Feb 15, 2046
FIT1
$50
+65
2
4.281% Fixed Rate/Floating Rate Callable Senior Notes due 2048
172967LJ8 / US172967LJ87
Luxembourg Stock Exchange
$1,000,000,000
4/24/2048
4/24/2047
First Par Call Date
4.625% UST due Feb 15, 2046
FIT1
$50
+65
3
2.904% Fixed Rate/Floating Rate Notes due 2042
172967NF4 / US172967NF48
None
$1,250,000,000
11/3/2042
11/3/2041
First Par Call Date
4.625% UST due Feb 15, 2046
FIT1
$50
+45
(1)
The “Calculation Date” for a series of Notes is the date on which such Notes is assumed to be paid down for purposes of calculating the Total Consideration (as defined herein) in connection with such Notes.
The Offers are being made pursuant to the offer to purchase, dated April 22, 2026 (the “Offer to Purchase,” as may be amended or supplemented from time to time), which sets forth in more detail the terms and conditions of the Offers.
The Offers will expire at 5:00 p.m., New York City time, on May 20, 2026, unless extended or earlier terminated (such date and time, as the same may be extended with respect to the Offers, the “Expiration Date”).
Subject to the terms and conditions set forth in the Offer to Purchase, holders of Notes that are validly tendered on or prior to 5:00 p.m., New York City time, on May 5, 2026, unless extended (such date and time with respect to an Offer, as the same may be extended with respect to such Offer, the “Early Tender Date”) and accepted for purchase shall be entitled to receive the total consideration per $1,000 principal amount of Notes calculated in the manner set forth in the Offer to Purchase (the “Total Consideration”), which includes an early tender premium of $50 per $1,000 principal amount of Notes (the “Early Tender Premium”). The Total Consideration will be equal to the price, determined in accordance with standard market practice, as described in the Offer to Purchase, that equates to a yield to the applicable Calculation Date equal to the applicable fixed spread specified for each such series of Notes over the applicable yield, which shall be based on the bid-side price of the applicable Reference U.S. Treasury Security specified in the table above at 10:00 a.m., New York City time, on May 6, 2026 (subject to certain exceptions set forth in the Offer to Purchase, such time and date, as the same may be extended with respect to such Offer, the “Price Determination Date”).
Subject to the terms and conditions set forth in the Offer to Purchase, holders of a series of Notes that are validly tendered after the Early Tender Date but on or before the Expiration Date and accepted for purchase will receive only the applicable tender offer consideration per $1,000 principal amount of Notes accepted for purchase, which is equal to the Total Consideration applicable to that series of Notes minus the Early Tender Premium (the “Tender Offer Consideration”).
Notes tendered may be withdrawn at any time prior to 5:00 p.m., New York City time, on May 5, 2026, unless extended (such date and time with respect to an Offer, as the same may be extended with respect to such Offer, the “Withdrawal Date”), but not thereafter.
Subject to the satisfaction or waiver of the conditions of the Offers, the “Acceptance Priority Procedures” will operate as follows:
first, if the aggregate Total Consideration of all Notes validly tendered by holders at or prior to the applicable Early Tender Date does not exceed the Waterfall Cap, then CGMI will accept all such Notes. However, if the aggregate Total Consideration of all Notes validly tendered at or prior to the applicable Early Tender Date by holders exceeds the Waterfall Cap (subject to any increase in such Waterfall Cap at CGMI’s discretion), then CGMI will (i) accept for purchase all validly tendered Notes of each series starting at the highest Acceptance Priority Level (level 1) and moving sequentially to Notes of each series having a lower Acceptance Priority Level (the lowest of which is level 3) until the aggregate Total Consideration of all validly tendered Notes of a series, combined with the aggregate Total Consideration of all accepted Notes of series with higher Acceptance Priority Levels, is as close as possible to, but does not exceed the Waterfall Cap, (ii) accept on a prorated basis validly tendered Notes of the series with the next lower Acceptance Priority Level and (iii) not accept for purchase (x) any such Notes of a series with an Acceptance Priority Level below the prorated series or (y) any Notes validly tendered after the applicable Early Tender Date; and
second, if the Waterfall Cap is not exceeded at the applicable Early Tender Date, CGMI will repeat the steps described in the prior bullet using the Tender Offer Consideration with respect to Notes validly tendered after the applicable Early Tender Date, but at or prior to the applicable Expiration Date, in order to determine the aggregate principal amount of such Notes that CGMI will accept for purchase. All Notes, regardless of Acceptance Priority Level, that are validly tendered at or prior to the applicable Early Tender Date will have priority over any Notes validly tendered after the applicable Early Tender Date.
CGMI reserves the right, but is under no obligation, at any point following the Early Tender Date and before the Expiration Date, to accept for purchase any Notes of a series tendered and not subsequently withdrawn at or prior to the Early Tender Date. Any such notes so accepted will be settled on a date (the “Early Settlement Date”) that will be determined at CGMI’s option and is currently expected to occur on May 11, 2026, subject to all conditions to the Offers having been either satisfied or waived by CGMI. If the Offers are fully subscribed up to the Waterfall Cap as of the Early Tender Date, then any Notes that are validly tendered after the Early Tender Date will not be accepted for purchase.
Irrespective of whether CGMI elects to have an Early Settlement Date, CGMI will purchase any remaining Notes that have been validly tendered on or prior to the Expiration Date and that CGMI chooses to accept for purchase, subject to all conditions to the Offers having been either satisfied or waived by CGMI, promptly following the Expiration Date (the “Settlement Date”). Payment for purchased Notes will include accrued and unpaid interest from, and including, the last interest payment date for the Notes up to, but not including the Early Settlement Date or Settlement Date, as applicable.
Subject to applicable law, CGMI may increase the Waterfall Cap at any time prior to the Settlement Date.
The obligation of CGMI to accept for purchase, and to pay for Notes validly tendered pursuant to the Offers is subject to, and conditional upon, the satisfaction or, where applicable, waiver of a number of conditions described in the Offer to Purchase. CGMI reserves the right, in its sole discretion, to waive any one or more of the conditions at any time.
Global Bondholder Services Corporation has been retained to serve as the depositary and information agent with respect to the Notes.
For additional information regarding the terms of the Offers, please contact CGMI at either (800) 558-3745 (toll free) or (212) 723-6106 (collect). Requests for copies of the Offer to Purchase and questions regarding the tender of Notes may be directed to Global Bondholder Services Corporation at (855) 654-2014 (toll free) or (212) 430-3774 (collect).
None of CGMI, CGMI’s board of directors, Citigroup, Citigroup’s board of directors, the depositary or the information agent makes any recommendation as to whether any holder of the Notes should tender or refrain from tendering all or any portion of the principal amount of the Notes.
This press release is neither an offer to purchase nor a solicitation to buy any of the Notes, and is not a solicitation for acceptance of any of the Offers. CGMI is making the Offers only by, and pursuant to the terms of, the Offer to Purchase. The Offers are not being made to (nor will tenders of Notes be accepted from or on behalf of) holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. This announcement must be read in conjunction with the Offer to Purchase.
United Kingdom. The communication of the Offer to Purchase and any such related documents and/or materials related to the Offers are directed only at (i) persons who are outside the United Kingdom (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) are high net worth entities, and other persons to whom such documents and materials may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). Any investment or investment activity to which the Offer to Purchase relates will only be available to, and engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on the Offer to Purchase or any of its contents.
###
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
Additional information may be found at www.citigroup.com | X: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi
Certain statements in this release, including without limitation the anticipated consummation and successful completion of the Offers (including the satisfaction of the conditions described in the Offer to Purchase), the possible amendment, extension or abandonment of one or more of the Offers, and Citigroup’s successful execution of its liability management strategy, are “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to risks, uncertainties and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors, including without limitation (i) the level of participation in the Offers and (ii) the precautionary statements included in this release and those contained in Citigroup’s filings with the U.S. Securities and Exchange Commission, including without limitation the factors and uncertainties summarized under “Forward-Looking Statements” in Citigroup’s Annual Report on Form 10-K for the year ended December 31, 2025 (the “2025 10-K”) and the factors listed and described under “Risk Factors” in Citigroup’s 2025 10-K. Any forward-looking statements made by or on behalf of Citigroup speak only as to the date they are made, and Citigroup does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260422399712/en/
Media Contact:
Danielle Romero-Apsilos
danielle.romeroapsilos@citi.com
Fixed Income Investor Contact:
Peter Demoise
investorrelations@citi.com
Original: Citi Announces Offers to Purchase Three Series of Outstanding Citigroup Inc. Notes
iHub News
3月前
Markets Rise on Iran Peace Hopes; Bank Earnings in Focus: Dow Jones, S&P, Nasdaq, Wall Street FuturesApril 14, 2026 4:59 AM
IH Market News
U.S. equity futures edged higher on Tuesday, while oil prices declined, as investors reacted to signs of potential progress in efforts to end the Iran conflict. However, a continued U.S. blockade of Iranian ports into a second day has added tension, further disrupting shipments through the Strait of Hormuz. Meanwhile, a wave of major U.S. bank earnings is set to dominate market attention, and luxury group LVMH (EU:MC) highlighted the conflict’s impact on sales.
Futures Tick Higher
U.S. stock futures moved modestly upward, supported by optimism around ongoing negotiations between Washington and Tehran aimed at securing a lasting ceasefire. Investors are also preparing for a busy earnings schedule from major financial institutions.As of 03:17 ET, Dow futures rose by 51 points, or 0.1%, S&P 500 futures gained 10 points, or 0.1%, and Nasdaq 100 futures climbed 72 points, or 0.3%.Wall Street’s main indices had already posted gains in the previous session, as initial disappointment over the lack of a breakthrough in weekend talks between the U.S. and Iran faded. U.S. President Donald Trump said the White House had been contacted by Iranian officials and expressed a desire to “make a deal,” adding that Iran will not have a nuclear weapon.“[W]hile the meeting was certainly disappointing, it was hardly catastrophic, and if one looks closely, Trump seems to be pivoting aggressively away from kinetic escalation,” analysts at Vital Knowledge said.They added that their view of the situation is “relatively sanguine,” though the “economic fallout from what’s already occurred” could be “significant.”
U.S. Blockade Continues to Disrupt Shipping
At the same time, the U.S. blockade of Iranian ports, which began Monday, has tightened constraints on oil flows already impacted by the conflict.Tehran has condemned the move as an “act of piracy,” with reports suggesting around 15 U.S. warships are involved. British maritime authorities said access has been restricted for vessels operating near Iranian ports and across key waterways in the Persian Gulf, Gulf of Oman, and parts of the Arabian Sea.Despite these tensions, diplomatic efforts appear to be gaining traction. According to Reuters, talks between the U.S. and Iran have continued, with some progress toward a permanent ceasefire. Pakistan has offered to host further negotiations following the initial round held in Islamabad.Elsewhere, Israel and Lebanon are set to begin direct peace talks in Washington, with ongoing strikes involving Iran-aligned Hezbollah forces remaining a key obstacle.
Oil Prices Ease Below $100
The prospect of diplomatic progress helped push oil prices lower, with Brent crude falling 1.5% to $97.88 per barrel and U.S. West Texas Intermediate declining 3.4% to $95.78.However, the outlook remains uncertain. The OPEC reduced its forecast for global oil demand in the second quarter by 500,000 barrels per day in its first assessment of the Iran conflict’s impact.Even so, the group left its full-year outlook unchanged, indicating expectations that demand could recover later in 2026.
Bank Earnings Take Centre Stage
Attention is now shifting to corporate earnings, with several major U.S. banks set to report results.JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC), and Citigroup (NYSE:C) are due to release quarterly figures before the U.S. market opens, followed by Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS) on Wednesday.Analysts expect trading revenues and investment banking fees to support results, even as uncertainty tied to the Iran conflict persists. Earlier this month, Jamie Dimon warned that the conflict could trigger commodity price shocks, potentially sustaining inflation and pushing interest rates higher than currently anticipated.On Monday, Goldman Sachs (NYSE:GS) reported a 19% increase in first-quarter profit, driven by strong performance in trading and investment banking.
LVMH Highlights Impact of Iran Conflict
In Europe, shares of LVMH (EU:MC) fell in early trading after the company said the Middle East conflict had reduced group sales by at least 1%, dampening expectations for a continued recovery in the luxury sector.The group, which owns brands such as Louis Vuitton and Bulgari, reported a 1% increase in quarterly sales, missing estimates for 1.5% growth, according to Visible Alpha data cited by Reuters.Finance chief Cécile Cabanis said that “[w]hat we see today is still that demand is very much down” following disruptions to shopping activity in the Middle East after the outbreak of the Iran conflict.Rival Kering (EU:KER), owner of Gucci, is scheduled to report results after the close of European markets later in the day.JPMorgan Chase stock priceWells Fargo stock priceCitigroup stock priceBank of America stock priceMorgan Stanley stock priceGoldman Sachs Group stock price
Original: Markets Rise on Iran Peace Hopes; Bank Earnings in Focus: Dow Jones, S&P, Nasdaq, Wall Street Futures
iHub News
3月前
Five key themes for markets in the week aheadApril 13, 2026 6:45 AM
IH Market News
Geopolitics is taking centre stage at the start of the trading week, with a planned U.S. blockade of the Strait of Hormuz driving fresh volatility across markets. The move has pushed oil prices higher again, while upcoming inflation data and a busy earnings calendar could provide further direction for investors.
1. U.S. moves ahead with Hormuz blockade
The U.S. military has confirmed it will begin restricting maritime traffic linked to Iran through the Strait of Hormuz from 10 a.m. Eastern on Monday, following an order from President Donald Trump after weekend talks with Iran failed to yield progress.According to the Pentagon, vessels “entering or departing Iranian ports and coastal areas” will be targeted, while other ships transiting the strait will still be permitted to pass.The decision follows 21 hours of negotiations in Pakistan that ended without an agreement to extend a fragile two-week ceasefire. Vice President JD Vance, who led the U.S. delegation, said Iran rejected demands to halt its nuclear ambitions. Pakistan, acting as a mediator, urged both sides to “uphold their commitment to ceasefire.”Elsewhere, Israel and Lebanon are set to hold talks in Washington this week, although continued strikes on Hezbollah-linked targets have raised doubts about the durability of any broader regional truce.
2. Oil climbs back above $100
Crude prices surged again on Monday, breaking back above the $100 per barrel level.Brent crude rose 6.7% to $101.65, while U.S. West Texas Intermediate gained 7.1% to $103.42.Despite the rally, analysts at Pepperstone said the market response had been “relatively contained,” with investors interpreting the blockade largely as a negotiating tactic.“I’d not be at all surprised to see risk assets remain underpinned to a degree, with continued hope that a deal can be agreed likely to continue to encourage dip buying, even as crude benchmarks are likely to grind steadily higher as physical supply tightens further,” said Michael Brown, Senior Research Strategist at Pepperstone.Oil had dipped below $100 last week following the ceasefire announcement, which itself came after Trump warned Iran’s “civilization” could be destroyed if the Strait of Hormuz was not reopened. Even so, prices have remained well above pre-conflict levels.
3. U.S. producer price data in focus
Rising energy costs have heightened concerns about inflation globally and how central banks may respond.This week, attention will turn to U.S. producer price index (PPI) data for final demand, which will provide a clearer picture of price pressures in March—the first full month reflecting the impact of the Iran conflict.Recent consumer price data already showed a sharp increase, driven largely by higher fuel costs. Energy prices jumped 12.5% year-on-year, compared with just 0.5% in February.However, core inflation—which excludes food and energy—came in softer than expected, at 2.6% annually and 0.2% month-on-month.Given this, analysts believe the Federal Reserve may not place excessive weight on the headline figures alone. The upcoming PPI release could offer further clues on how policymakers approach interest rates in the months ahead.“A stronger-than-expected [PPI] reading would reinforce the case for a ‘higher for longer’ rate outlook, likely supporting the dollar and leaving EUR/USD’s recent rebound vulnerable to renewed downside,” said Laurence Booth, Global Head of Markets at CMC Markets.
4. Bank earnings take centre stage
The U.S. earnings season gathers pace this week, led by results from major Wall Street lenders.Goldman Sachs (NYSE:GS) is set to report first, with its shares up around 3% so far this year. Trading revenues have been supported by portfolio repositioning linked to developments in artificial intelligence, while its investment banking division has also delivered growth.However, the Iran conflict may weigh on outlooks. While volatility can boost trading income, elevated commodity prices could discourage dealmaking activity such as mergers and acquisitions, potentially affecting advisory revenues.Other banks reporting include JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC), Citigroup (NYSE:C), Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS).Beyond banking, earnings are also expected from Netflix and PepsiCo.
5. European luxury sector results ahead
In Europe, attention will turn to the luxury sector, where several major groups are due to report.LVMH (EU:MC), owner of brands such as Louis Vuitton and Dior, is scheduled to release first-quarter sales, with geopolitical tensions likely to influence its outlook. Peers Kering SA (EU:KER) and Hermès (EU:RMS) are also set to report.According to Reuters, luxury sales in markets such as Dubai and Abu Dhabi have declined due to the conflict, weighing on the $400 billion sector.Elsewhere, ASML (NASDAQ:ASML) will report on Wednesday, with investors watching closely for updates on its ability to meet strong demand from artificial intelligence chipmakers.Goldman Sachs Group stock priceJPMorgan Chase stock priceWells Fargo stock priceCitigroup stock priceBank of America stock priceMorgan Stanley stock price
Original: Five key themes for markets in the week ahead
iHub News
3月前
Markets edge lower as Hormuz blockade fears grow; Goldman Sachs earnings in focus: Dow Jones, S&P, Nasdaq, Wall Street FuturesApril 13, 2026 5:50 AM
IH Market News
Futures tied to major U.S. equity indices pointed slightly lower at the start of the week, as concerns over a potential U.S. naval blockade of the Strait of Hormuz and stalled negotiations between Washington and Tehran weighed on investor sentiment. Oil prices moved back above $100 per barrel, with markets increasingly uneasy about the durability of a fragile U.S.-Iran ceasefire. Meanwhile, earnings from Goldman Sachs (NYSE:GS) are set to kick off the U.S. reporting season, while LVMH (EU:MC) is also due to release results.
Futures drift lower
U.S. stock futures declined on Monday as investors reacted to renewed geopolitical risks following President Donald Trump’s warning that a blockade could be imposed on the Strait of Hormuz after weekend talks with Iran failed to produce a breakthrough.As of 03:28 ET, Dow futures were down 239 points, or 0.5%, S&P 500 futures fell 40 points, or 0.6%, and Nasdaq 100 futures dropped 168 points, or 0.7%. Markets in Europe and Asia also showed signs of weakness, while oil prices surged and the U.S. dollar strengthened.Wall Street had closed mixed on Friday, with investors taking a cautious stance ahead of high-stakes negotiations in Pakistan. Although a temporary two-week ceasefire was announced last week, uncertainty remains over whether it will lead to a lasting resolution.Investors also digested data showing a sharp increase in consumer prices in March, largely driven by rising fuel costs linked to the energy shock triggered by the conflict. Oil prices have climbed significantly since late February, when tensions with Iran escalated and tanker traffic through the Strait of Hormuz—through which roughly 20% of global oil flows—was effectively disrupted.
Trump signals Hormuz blockade
On Sunday, Trump said the U.S. Navy would launch an “immediate” blockade of the Strait to restrict shipping activity.He warned that any vessel paying fees imposed by Tehran would not be guaranteed “safe passage on the high seas.”Later, the Pentagon clarified that the restrictions would target ships “entering or departing Iranian ports or coastal areas,” while allowing other vessels to continue transiting the Strait.The escalation follows 21 hours of negotiations between U.S. and Iranian officials in Pakistan, which ended without an agreement to extend the ceasefire. Vice President JD Vance, who led the U.S. delegation, said Iran had rejected demands to halt its nuclear ambitions. Tehran has not immediately commented, though Pakistan—acting as mediator—urged both sides to “uphold their commitment to ceasefire.”
Oil climbs back above $100
Crude prices surged again on Monday, reclaiming the $100 per barrel level.Brent crude rose 6.7% to $101.65, while U.S. West Texas Intermediate gained 7.1% to $103.42.Despite the sharp move, analysts at Pepperstone said the market reaction had been “relatively contained,” suggesting that traders may see the blockade as a negotiating tactic.“While it’s clearly a risk-averse start to the trading week, […] the general market reaction can be summed up as ‘could be worse’,” said Michael Brown, Senior Research Strategist at Pepperstone.Oil had briefly dipped below $100 last week after the ceasefire announcement, which followed Trump’s warning that Iran’s “civilization” could be destroyed if the Strait was not reopened. Even so, prices remained elevated compared with pre-conflict levels.
Goldman Sachs results ahead
Attention now turns to earnings from major U.S. banks, beginning with Goldman Sachs’ quarterly results before the market open.Shares of Goldman have risen about 3% so far this year, supported by strong trading activity as investors reposition portfolios amid disruption from emerging artificial intelligence technologies. Investment banking revenues have also shown resilience.However, developments in Iran may overshadow the results. While volatility can boost trading income, sustained high commodity prices could deter companies from pursuing costly deals such as mergers and acquisitions, potentially weighing on advisory revenues.Other major banks set to report this week include JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC), Citigroup (NYSE:C), Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS).
LVMH set to report
LVMH (EU:MC), the world’s largest luxury goods company and owner of brands such as Louis Vuitton and Dior, is due to publish its first-quarter sales later today, with the Middle East conflict expected to feature prominently in its outlook.According to Reuters, luxury sales in key regional hubs like Dubai and Abu Dhabi have declined due to the ongoing conflict, impacting companies including LVMH as well as peers like Kering SA (EU:KER) and Hermès (EU:RMS).At Dubai’s Mall of the Emirates, luxury sales reportedly dropped by as much as 50% in March, while foot traffic at Dubai Mall saw a similar decline. In Abu Dhabi’s Galleria mall, overall sales were down by around 10%.Although the Middle East represents a relatively small portion of LVMH’s total revenue, analysts cited by Reuters suggest that the impact on profitability—reported on a half-year basis—could be more significant.Goldman Sachs Group stock priceJPMorgan Chase stock priceWells Fargo stock priceCitigroup stock priceBank of America stock priceMorgan Stanley stock price
Original: Markets edge lower as Hormuz blockade fears grow; Goldman Sachs earnings in focus: Dow Jones, S&P, Nasdaq, Wall Street Futures
US Market News
3月前
Citigroup Declares Common Stock DividendApril 2, 2026 7:32 PM
Business Wire
Citigroup Declares Preferred Dividends
The Board of Directors of Citigroup Inc. today declared a quarterly dividend on Citigroup’s common stock of $0.60 per share, payable on May 22, 2026, to stockholders of record on May 4, 2026.
The Board of Directors of Citigroup Inc. also declared dividends on Citigroup’s preferred stock as follows:
– 4.150% Fixed Rate Reset Noncumulative Preferred Stock, Series Y, payable May 15, 2026, to holders of record on May 5, 2026. Holders of depositary receipts, each representing one-twenty-fifth of a full preferred share, will be paid $10.375 for each receipt held.
– 7.375% Fixed Rate Reset Noncumulative Preferred Stock, Series Z, payable May 15, 2026, to holders of record on May 5, 2026. Holders of depositary receipts, each representing one-twenty-fifth of a full preferred share, will be paid $18.4375 for each receipt held.
– 7.625% Fixed Rate Reset Noncumulative Preferred Stock, Series AA, payable May 15, 2026, to holders of record on May 5, 2026. Holders of depositary receipts, each representing one-twenty-fifth of a full preferred share, will be paid $19.0625 for each receipt held.
– 7.200% Fixed Rate Reset Noncumulative Preferred Stock, Series BB, payable May 15, 2026, to holders of record on May 5, 2026. Holders of depositary receipts, each representing one-twenty-fifth of a full preferred share, will be paid $18.00 for each receipt held.
– 7.125% Fixed Rate Reset Noncumulative Preferred Stock, Series CC, payable May 15, 2026, to holders of record on May 5, 2026. Holders of depositary receipts, each representing one-twenty-fifth of a full preferred share, will be paid $17.8125 for each receipt held.
– 7.000% Fixed Rate Reset Noncumulative Preferred Stock, Series DD, payable May 15, 2026, to holders of record on May 5, 2026. Holders of depositary receipts, each representing one-twenty-fifth of a full preferred share, will be paid $17.50 for each receipt held.
– 6.750% Fixed Rate Reset Noncumulative Preferred Stock, Series EE, payable May 15, 2026, to holders of record on May 5, 2026. Holders of depositary receipts, each representing one-twenty-fifth of a full preferred share, will be paid $16.875 for each receipt held.
– 6.950% Fixed Rate Reset Noncumulative Preferred Stock, Series FF, payable May 15, 2026, to holders of record on May 5, 2026. Holders of depositary receipts, each representing one-twenty-fifth of a full preferred share, will be paid $17.375 for each receipt held.
– 6.875% Fixed Rate Reset Noncumulative Preferred Stock, Series GG, payable May 15, 2026, to holders of record on May 5, 2026. Holders of depositary receipts, each representing one-twenty-fifth of a full preferred share, will be paid $17.1875 for each receipt held.
– 6.625% Fixed Rate Reset Noncumulative Preferred Stock, Series HH, payable May 15, 2026, to holders of record on May 5, 2026. Holders of depositary receipts, each representing one-twenty-fifth of a full preferred share, will be paid $28.524305556 for each receipt held.
– 6.250% Noncumulative Preferred Stock, Series II, payable May 15, 2026, to holders of record on May 5, 2026. Holders of depositary receipts, each representing one one-thousandth of a full preferred share, will be paid $0.4427083333 for each receipt held.
– 6.500% Fixed Rate Reset Noncumulative Preferred Stock, Series JJ, payable May 15, 2026, to holders of record on May 5, 2026. Holders of depositary receipts, each representing one-twenty-fifth of a full preferred share, will be paid $16.79166667 for each receipt held.
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
Additional information may be found at www.citigroup.com | X: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi
View source version on businesswire.com: https://www.businesswire.com/news/home/20260402068286/en/
Media: Danielle Romero-Apsilos danielle.romeroapsilos@citi.com
Investors: Jennifer Landis investorrelations@citi.com
Original: Citigroup Declares Common Stock Dividend
US Market News
3月前
Citibank Announces $2 Billion Redemption of 5.438% Notes Due 2026 and $1 Billion Redemption of Floating Rate Notes Due 2026March 25, 2026 4:15 PM
Business Wire
Citibank, N.A. is announcing the redemption, in whole, constituting $2,000,000,000 of its 5.438% Notes due 2026 (the “fixed rate notes”) (ISIN: US17325FBF45) and $1,000,000,000 of its Floating Rate Notes due 2026 (the “floating rate notes” and together with the fixed rate notes, the “notes”) (ISIN: US17325FBE79).
The redemption date for the notes is March 30, 2026 (the “redemption date”). The cash redemption price for the notes payable on the redemption date will equal par plus accrued and unpaid interest to, but excluding, the redemption date.
The redemptions announced today are consistent with Citibank's liability management strategy and reflect its ongoing efforts to enhance the efficiency of its funding and capital structure. Citibank will continue to consider opportunities to redeem or repurchase securities, based on several factors, including without limitation, the economic value, regulatory changes, potential impact on Citibank's net interest margin and borrowing costs, the overall remaining tenor of Citibank's debt portfolio, capital impact, as well as overall market conditions.
Beginning on the redemption date, interest will no longer accrue on the notes.
Citibank, N.A. is the paying agent for the notes.
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
Additional information may be found at www.citigroup.com | X: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi
View source version on businesswire.com: https://www.businesswire.com/news/home/20260325997662/en/
Media Contact:
Danielle Romero Apsilos
danielle.romeroapsilos@citi.com
Fixed Income Investor Contact:
Peter Demoise
investorrelations@citi.com
Original: Citibank Announces $2 Billion Redemption of 5.438% Notes Due 2026 and $1 Billion Redemption of Floating Rate Notes Due 2026
US Market News
4月前
Citi Issues Inaugural Digitally Native Structured Note on Euroclear's D-FMI DLT PlatformMarch 9, 2026 6:02 AM
Business Wire
Citi has issued its inaugural digitally native structured note on Euroclear's Digital Financial Market Infrastructure (D-FMI) Distributed Ledger Technology (DLT) Platform
This type of transaction is a first for Euroclear's D-FMI and the first of its kind within the wealth management industry, demonstrating Citi's commitment to enhancing efficiency, transparency, and innovation across the bank
The deal showcases DLT's seamless integration into financial markets, accelerating digital transformation and creating new possibilities across asset classes
Citi has issued its first digitally native structured note on Euroclear’s Digital Financial Market Infrastructure platform. This transaction marks a debut of a digitally native structured note being issued on Euroclear’s D-FMI and represents the first of its kind being offered within the wealth management industry.
The digitally native structured note was issued under English Law. The issuer is Citigroup Global Markets Funding Luxembourg, reflecting Luxembourg’s supportive environment for digital financial innovation.
"This pioneering issuance marks an important step forward as we lead the first digitally native structured note on Euroclear's D-FMI. This dual milestone demonstrates our commitment to leveraging DLT to enhance efficiency, transparency, and innovation across the Markets business and wider franchise," said Bhaavit Agrawal, Global Head of Financial Institutions Structuring, Markets, at Citi.
Russell Budnick, Head of Capital Markets, Investment Solutions for Citi Wealth, said, “Issuing this digitally native structured note on Euroclear’s D-FMI platform demonstrates how we can deliver traditional structured products more efficiently by leveraging distributed ledger technology while preserving the full investment profile clients expect. This marks an important step in expanding digitally native solutions across our global wealth franchise.”
“As issuing and paying agent, we are leveraging our experience in supporting the settlement of digital issuances while actively shaping the development of digital capital markets. Our role in this transaction exemplifies Issuer Services’ commitment to connecting global issuers to new and emerging opportunities, particularly in facilitating the first structured note issuance on the D-FMI. This deal is made even more significant as it showcases the full breadth of Citi’s capabilities, bringing together various businesses across the firm on this landmark transaction,” said Dirk Jones, Head of Issuer Services at Citi.
“This note illustrates how trusted market infrastructure can evolve to support innovation at scale. It reflects our ambition to move digital issuance from experimentation into everyday market practice across various distribution channels, embedding digital at the core of the financial ecosystem to enable more efficient capital flows. Together with Citi, we are embedding distributed ledger technology into existing market frameworks while preserving the robustness, legal certainty and investor protections global markets depend on,” said Isabelle Delorme, Head of Product Strategy and Innovation at Euroclear.
This transaction represents a significant step in the ongoing digital transformation of financial markets, illustrating how DLT can be seamlessly integrated into existing market structures to unlock new possibilities for various asset classes. Citi continues to develop digital asset solutions, utilizing a unified technology framework to enhance its product offerings.
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
Additional information may be found at www.citigroup.com | X: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi
View source version on businesswire.com: https://www.businesswire.com/news/home/20260309593577/en/
Media Contact:
Anja Klein
Anja.Klein@citi.com
Original: Citi Issues Inaugural Digitally Native Structured Note on Euroclear's D-FMI DLT Platform
US Market News
4月前
Citi Announces its Blueprint for Housing Opportunity Initiative — A $60 Billion Commitment to Enhance U.S. Housing Affordability and Help Create and Preserve 250,000 Units Over Five YearsFebruary 24, 2026 1:00 PM
Business Wire
Citi Foundation will also Deploy $50 Million in Philanthropic Grants to Non-Profits Addressing Housing Challenges in their Communities
Citi today announced its Blueprint for Housing Opportunity initiative — a $60 billion five-year housing affordability commitment dedicated to increasing the supply of housing through the creation and preservation of at least 250,000 units across the U.S. In addition, the Citi Foundation will deploy $50 million in philanthropic grants to non-profits addressing housing challenges and supporting the financial health of residents in their communities, starting with a $1 million grant to support the Center for Affordable Housing Lending.
“Housing affordability is one of the defining economic challenges of our time, and increasing supply is essential to addressing it,” said Jane Fraser, Chair of the Board and Chief Executive Officer of Citi. “By expanding the amount of financing we provide for affordable housing, we open possibilities for prosperity, helping more Americans secure housing they can truly afford. When people spend less on housing, they have more to invest in their families and futures.”
As the number one affordable housing lender in the U.S. for 15 consecutive years, Citi recognizes that housing is a foundational element of economic well-being and community stability.1 Citi Community Capital (CCC), which is responsible for the vast majority of Citi’s activity in this space, financed more than $32 billion in affordable multifamily housing lending over the past five years. This includes $7.6 billion in 2025, which contributed to the creation and preservation of over 35,000 units across more than 30 states.
Together, Citi and the Citi Foundation are committing to:
Finance $60 billion in capital over five years for the acquisition, construction, rehabilitation and permanent long-term financing of housing that’s affordable for Americans. This financing will support a broad range of housing types, such as homes for essential workers, developments with supportive services and lower-cost rental options in expensive markets.
Deploy $50 million in Citi Foundation philanthropic grants to non-profits addressing local housing challenges, supporting the financial health of residents and investing in research that helps identify scalable solutions.
Provide continued support for innovative for-profit companies tackling housing access and affordability challenges through the Citi Impact Fund.
Advance public policy and advocacy efforts that help enhance supply, such as the Low-Income Housing Tax Credit program.
This commitment builds on Citi’s extensive track record of putting its capital, community impact and expertise toward improving housing affordability. It complements Citi’s financial health resources, such as affordable mortgage programs, homebuyer education, and products and services that put homebuyers on the path to strengthening credit scores and increasing savings. Citi also leverages research to inform solutions to housing affordability challenges, such as its recent analysis of the “mortgage lock-in” effect and its impact on mobility and housing supply.
"The causes for the shortage of quality, affordable housing are complicated but ultimately come down to the imbalance of supply and demand. Increasing supply is where our financial capabilities can make the greatest impact and, through this commitment, we are significantly increasing the capital we are putting to work,” said Edward Skyler, Head of Enterprise Services and Public Affairs and Chair of the Citi Foundation. “We also recognize that housing is a critical building block for financial progress. That’s why we’re also providing philanthropic support to help people access the financial tools, services and opportunities they need for economic and housing security.”
Financial capital:
Financing affordable housing can be complex. Rising construction and operating costs often create additional challenges for lenders and developers. With this commitment, Citi will apply its financial capital to help leading developers and government entities build and preserve units that are affordable to Americans.
Citi has supported affordable multifamily housing for decades by providing equity, loans for the acquisition, construction and permanent financing of multifamily housing and structuring expertise. Critical to these efforts have been Citi’s partnerships with for-profit developers, local governments, community development finance institutions and other non-profit developers, reflecting a deep commitment to strengthening communities across the country.
“Housing gets built when there’s certainty of capital, clarity of execution and partners who stay the course,” said Rafael E. Cestero, Chief Executive Officer of the Community Preservation Corporation (CPC). “That’s where market-based solutions led by institutions like Citi make a difference. As a mission-driven organization focused on leveraging capital to strengthen communities, CPC understands that with the right financial partners, developers not only can move quickly from acquisition to completion but also keep affordability front and center.”
Community impact:
Access alone does not ensure lasting housing stability — investing in residents’ overall financial resilience is a critical piece of the puzzle. For over 30 years, the Citi Foundation has worked to catalyze economic opportunity for households and communities through grants to non-profit innovators, including those addressing housing supply challenges.
Today, Citi Foundation is announcing a $1 million grant to the Center for Affordable Housing Lending, the non-profit research partner to the National Association of Affordable Housing Lenders (NAAHL). This grant will help establish the Housing Supply Research & Fellowship Program to tackle challenges that are top of mind for policymakers and the housing finance community.
“Affordable housing is one of the most pressing challenges facing communities across the country. Solving this problem requires investment in research, innovation, and mission-focused solutions," said Sarah Brundage, President and CEO of NAAHL and the Center for Affordable Housing Lending. “Citi and Citi Foundation’s long track record reflects a commitment to finding tools that work and matching scale with on-the-ground expertise. Citi Foundation’s catalytic support will enable the Center to meet the moment and advance impactful affordable housing solutions.”
Expertise and advocacy:
We recognize that making housing more affordable for American families cannot be achieved by the private sector alone — successful progress toward this goal will require the public, private and non-profit sectors working together.
Policymakers across the political spectrum are focused on addressing housing affordability and increasing supply, but more action is needed. One program with significant support is the Low-Income Housing Tax Credit (LIHTC) which has successfully boosted supply of affordable housing for nearly 40 years and was recently expanded in the One Big Beautiful Bill Act. While this improvement was welcomed, Citi believes there is an opportunity to help the credit go even further for American communities and families. For example, enhancing the liquidity of LIHTC to outside investors, which would encourage greater investment in affordable housing projects.
Citi remains committed to working with policymakers, relevant stakeholders and others to ensure the continued improvement of housing affordability for individuals and families across the country.
For more information on Citi’s commitment, visit the Blueprint for Housing Opportunity website.
1 As recognized by Affordable Housing Finance magazine.
###
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
Additional information may be found at www.citigroup.com | X: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi
About the Citi Foundation
The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world. We invest in efforts that increase financial inclusion, catalyze job opportunities for youth, and reimagine approaches to building economically vibrant communities. The Citi Foundation's "More than Philanthropy" approach leverages the enormous expertise of Citi and its people to fulfill our mission and drive thought leadership and innovation. For more information, visit www.citifoundation.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260224945885/en/
Katie Doshi
Kathleen.doshi@citi.com
Original: Citi Announces its Blueprint for Housing Opportunity Initiative — A $60 Billion Commitment to Enhance U.S. Housing Affordability and Help Create and Preserve 250,000 Units Over Five Years
US Market News
5月前
Citigroup Announces Full Redemption of Series X Preferred StockFebruary 5, 2026 8:16 AM
Business Wire
Citigroup Inc. is redeeming, in whole, all $2.3 billion aggregate liquidation preference of Series X Depositary Shares representing interests in its 3.875% Fixed Rate Reset Noncumulative Preferred Stock, Series X (the “Preferred Stock”).
The redemption date is February 18, 2026, for the Preferred Stock and related Depositary Shares (the “Redemption Date”). The cash redemption price, payable on the Redemption Date for each Depositary Share, will equal $1,000. Holders of record on February 6, 2026, will receive the previously declared regular quarterly dividend of $9.6875 per Depositary Share payable on the Redemption Date.
The redemption announced today reflects Citigroup’s ongoing efforts to enhance the efficiency of its funding and capital structure. Citigroup’s redemptions are based on several factors, including without limitation, the economic value, regulatory changes, potential impact on Citigroup's net interest margin and borrowing costs, the overall remaining tenor of Citigroup's debt portfolio, capital impact, as well as overall market conditions.
Beginning on the Redemption Date, the Depositary Shares representing the redeemed Preferred Stock will no longer be outstanding and dividends will no longer accrue on such securities.
Computershare Trust Company, N.A. (“Computershare”) is the paying agent for the Depositary Shares. The paying agent’s address is Computershare Trust Company, Attn: Corporate Actions, 150 Royall Street, Suite 101, Canton, MA 02021. Questions relating to the notice of redemption and related materials should be directed to Computershare via telephone at 1-888-250-3985.
For further information on the Preferred Stock and the related Depositary Shares, please see the prospectus at the following web address: https://www.citigroup.com/rcs/citigpa/akpublic/storage/public/CitiFeb021821PreferredStockSeriesX.pdf
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
Additional information may be found at www.citigroup.com | X: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi
View source version on businesswire.com: https://www.businesswire.com/news/home/20260204916487/en/
Media Contact:
Danielle Romero Apsilos
danielle.romeroapsilos@citi.com
Fixed Income Investor Contact:
Peter Demoise
investorrelations@citi.com
Original: Citigroup Announces Full Redemption of Series X Preferred Stock
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