21. PREFERRED STOCK
The following table summarizes the Company’s preferred stock outstanding:
Redemption
price per
depositary
share/
preference
share
Carrying value
(in millions of dollars)
Issuance date
Redeemable by issuer
beginning
Dividend
rate
Number
of
depositary
shares
December 31,
2022
December 31,
2021
Series A
(1)
October 29, 2012 January 30, 2023 5.950 % $ 1,000 1,500,000 $ 1,500 $ 1,500
Series B
(2)
December 13, 2012 February 15, 2023 5.900 1,000 750,000 750 750
Series D
(3)
April 30, 2013 May 15, 2023 5.350 1,000 1,250,000 1,250 1,250
Series J
(4)
September 19, 2013 September 30, 2023 7.125 25 38,000,000 950 950
Series K
(5)
October 31, 2013 November 15, 2023 6.875 25 59,800,000 1,495 1,495
Series M
(6)
April 30, 2014 May 15, 2024 6.300 1,000 1,750,000 1,750 1,750
Series P
(7)
April 24, 2015 May 15, 2025 5.950 1,000 2,000,000 2,000 2,000
Series T
(8)
April 25, 2016 August 15, 2026 6.250 1,000 1,500,000 1,500 1,500
Series U
(9)
September 12, 2019 September 12, 2024 5.000 1,000 1,500,000 1,500 1,500
Series V
(10)
January 23, 2020 January 30, 2025 4.700 1,000 1,500,000 1,500 1,500
Series W
(11)
December 10, 2020 December 10, 2025 4.000 1,000 1,500,000 1,500 1,500
Series X
(12)
February 18, 2021 February 18, 2026 3.875 1,000 2,300,000 2,300 2,300
Series Y
(13)
October 20, 2021 October 20, 2026 4.150 1,000 1,000,000 1,000 1,000
$ 18,995 $ 18,995
(1) Issued as depositary shares, each representing a 1/25
th
interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends are
payable semiannually on January 30 and July 30 at a fixed rate until, but excluding, January 30, 2023, thereafter payable quarterly on January 30, April 30, July 30
and October 30 at a floating rate, in each case when, as and if declared by the Citi Board of Directors.
(2) Issued as depositary shares, each representing a 1/25
th
interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends are
payable semiannually on February 15 and August 15 at a fixed rate until, but excluding, February 15, 2023, thereafter payable quarterly on February 15, May 15,
August 15 and November 15 at a floating rate, in each case when, as and if declared by the Citi Board of Directors.
(3) Issued as depositary shares, each representing a 1/25
th
interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends are
payable semiannually on May 15 and November 15 at a fixed rate until, but excluding, May 15, 2023, thereafter payable quarterly on February 15, May 15,
August 15 and November 15 at a floating rate, in each case when, as and if declared by the Citi Board of Directors.
(4) Issued as depositary shares, each representing a 1/1,000
th
interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends are
payable quarterly on March 30, June 30, September 30 and December 30 at a fixed rate until, but excluding, September 30, 2023, thereafter payable quarterly on
the same dates at a floating rate, in each case when, as and if declared by the Citi Board of Directors.
(5) Issued as depositary shares, each representing a 1/1,000
th
interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends are
payable quarterly on February 15, May 15, August 15 and November 15 at a fixed rate until, but excluding, November 15, 2023, thereafter payable quarterly on
the same dates at a floating rate, in each case when, as and if declared by the Citi Board of Directors.
(6) Issued as depositary shares, each representing a 1/25
th
interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends are
payable semiannually on May 15 and November 15 at a fixed rate until, but excluding, May 15, 2024, thereafter payable quarterly on February 15, May 15,
August 15 and November 15 at a floating rate, in each case when, as and if declared by the Citi Board of Directors.
(7) Issued as depositary shares, each representing a 1/25
th
interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends are
payable semiannually on May 15 and November 15 at a fixed rate until, but excluding, May 15, 2025, and thereafter payable quarterly on February 15, May 15,
August 15 and November 15 at a floating rate, in each case when, as and if declared by the Citi Board of Directors.
(8) Issued as depositary shares, each representing a 1/25
th
interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends are
payable semiannually on February 15 and August 15 at a fixed rate until, but excluding, August 15, 2026, thereafter payable quarterly on February 15, May 15,
August 15 and November 15 at a floating rate, in each case when, as and if declared by the Citi Board of Directors.
(9) Issued as depositary shares, each representing a 1/25
th
interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends are
payable semiannually on March 12 and September 12 at a fixed rate until, but excluding, September 12, 2024, thereafter payable quarterly on March 12, June 12,
September 12 and December 12 at a floating rate, in each case when, as and if declared by the Citi Board of Directors.
(10) Issued as depositary shares, each representing a 1/25
th
interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends are
payable semiannually on January 30 and July 30 at a fixed rate until, but excluding, January 30, 2025, thereafter payable quarterly on January 30, April 30, July 30
and October 30 at a floating rate, in each case when, as and if declared by the Citi Board of Directors.
(11) Issued as depositary shares, each representing a 1/25
th
interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends are
payable quarterly on March 10, June 10, September 10 and December 10 at a fixed rate until, but excluding, December 10, 2025, thereafter payable quarterly on
the same dates at a floating rate, in each case when, as and if declared by the Citi Board of Directors.
(12) Issued as depositary shares, each representing a 1/25
th
interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends are
payable quarterly on February 18, May 18, August 18 and November 18 at a fixed rate until, but excluding, February 18, 2026, thereafter payable quarterly on the
same dates at a floating rate, in each case when, as and if declared by the Citi Board of Directors.
(13) Issued as depositary shares, each representing a 1/25
th
interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends are
payable quarterly on February 15, May 15, August 15 and November 15 at a fixed rate until, but excluding, November 15, 2026, thereafter payable quarterly on
the same dates at a floating rate, in each case when, as and if declared by the Citi Board of Directors.
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