Citibank to Redeem $2.5 B of 2026 Notes

Citibank, N.A. announced that it will redeem in full $2 billion of its 5.488% notes due 2026 and $500 million of its floating‑rate notes due 2026. The redemption will take place on November 4, 2026, with the cash price equal to par plus accrued and unpaid interest up to, but not including, the redemption date. Beginning on the redemption date, interest will no longer accrue on the notes. The bank said the action is consistent with its liability‑management strategy and its aim to enhance the efficiency of its funding and capital structure. Citi noted that it will continue to evaluate opportunities to redeem or repurchase securities based on economic value, regulatory changes, impact on net interest margin, borrowing costs, remaining tenor of its debt portfolio, capital impact, and market conditions.