BAKU, Azerbaijan, November 14. Citibank, N.A. will redeem a total of $3 billion in notes due 2027 on November 19, 2026, according to a company announcement.
The redemption will cover $2.2 billion in 4.876% fixed-to-floating-rate notes (ISIN: US17325FBL13) and $800 million in floating-rate notes (ISIN: US17325FBM95).
The notes will be redeemed at par, plus accrued and unpaid interest up to, but excluding, the redemption date.
Citibank said the redemptions are in line with its liability management strategy and reflect its efforts to improve the efficiency of its funding and capital structure.
The bank added that it would continue to consider opportunities to redeem or repurchase securities, taking into account factors such as their economic value, regulatory changes, potential effects on net interest margins and borrowing costs, the remaining maturity of its debt portfolio, capital implications and overall market conditions.
Interest on the notes will cease to accrue from the redemption date. Citibank, N.A. will act as the paying agent.
Citibank, N.A. is the primary U.S. banking subsidiary of Citigroup Inc., one of the largest global financial services companies. Founded in 1812 as the City Bank of New York, Citibank ranks among the top banks in the United States by assets, with approximately $2 trillion in total assets. Headquartered in New York, it provides a broad range of consumer, commercial, and institutional banking services and operates as part of Citigroup’s global network spanning more than 180 countries and jurisdictions.
