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03.12.25 - 14:06
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Citigroup Announces Full Redemption of Series W Preferred Stock (Business Wire)
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NEW YORK--(BUSINESS WIRE)--Citigroup Inc. is redeeming, in whole, all $1.5 billion aggregate liquidation preference of Series W Depositary Shares representing interests in its 4.000% Fixed Rate Reset Noncumulative Preferred Stock, Series W (the “Preferred Stock”).
The redemption date is December 10, 2025, 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 November 26, 2025, will receive the previously declared regular quarterly dividend of $10.00 per Depositary Share payable on the Redemption Date.
The redemption announced today is consistent with Citigroup's liability management strategy and reflects its 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 int...
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03.12.25 - 09:18
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An eco obscenity: Norman Foster′s steroidal new skyscraper is an affront to the New York skyline (The Guardian)
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It contains enough steel to go round the world twice – and even has a fake breeze to flutter the star-and-stripes flag in its lobby. If this colossus is just the first of a new breed of bulky supertalls, is Britain next?Among the slender needles and elegant spires of the Manhattan skyline, a mountainous lump has reared into view. It galumphs its way up above the others, climbing in bulky steps with the look of several towers strapped together, forming a dark, looming mass. From some angles it forms the silhouette of a hulking bar chart. From others, it glowers like a coffin, ready to swallow the dainty Chrysler building that trembles in its shadow. It is New York's final boss, a brawny, bronzed behemoth that now lords it over the city with a brutish swagger.Fittingly, this is the new global headquarters of JP Morgan, the world's biggest bank. The firm enjoys a market capitalisation of $855bn (£645bn), more than Bank of America, Wells Fargo and Citigroup's combined, and it looks as if it might have s...
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