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Citigroup To Make Adjustments For T-DECS Resulting From Common Dividend

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Financial services company Citigroup Inc (C: Quote) Friday announced that it would make an adjustment to the settlement rates and certain other terms of Citi's T-DECS,, on payment of the dividend of $0.01 per share of common stock payable on February 24, 2012.

Citigroup stated that no adjustment will be made to the terms of Citi's warrants or convertible preferred stock if the amount of the dividend to be paid is less than the threshold amount required for an adjustment.

The company stated that the minimum Threshold Rate would be 2.5418 prior to February 24, 2012 and after that date, the minimum Threshold Rate would be 2.5426.

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by RTT Staff Writer

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