Citi’s $2.5 Billion Preferred Stock Offering Advised by Cleary Gottlieb

"Cleary Gottlieb represented the underwriters, led by Citigroup Global Markets Inc., in Citigroup Inc.'s registered offering of 2.5 million depositary shares, each representing a 1/25th interest in a share of 6.625% fixed‑rate reset noncumulative perpetual preferred stock, Series HH (with $25,000 liquidation preference). The offering priced Dec 3, 2025 and will close Dec 10, 2025."

Cleary Gottlieb represented the underwriters, led by Citigroup Global Markets Inc., in a registered offering by Citigroup Inc. The transaction consisted of a registered offering by Citigroup Inc. of 2.5 million depositary shares, each representing a 1/25th interest in a share of 6.625% fixed‑rate reset noncumulative perpetual preferred stock, Series HH, with a $25,000 liquidation preference per share. The offering priced on December 3, 2025, and is scheduled to close on December 10, 2025. Citigroup Inc. (Citi) is a global diversified financial services holding company that provides a broad range of financial products and services to consumers, corporations, governments, and institutions and does business in nearly 160 countries and jurisdictions. Cleary Gottlieb represented the underwriters, led by Citigroup Global Markets Inc., with a team composed by: partner Jeff Karpf; senior attorney Elizabeth Chang; associate Grady Tarplee; and law clerks Jean Choi and Julian Vleeschhouwer.

Citi’s $2.5 Billion Preferred Stock Offering Advised by Cleary Gottlieb

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