Citigroup Details Senior Notes and Preferred Stock in 8-K Filing

TL;DR

**Citigroup just updated its debt and equity instruments, detailing various senior notes and preferred stock.**

AI Summary

Citigroup Inc. filed an 8-K on February 20, 2024, reporting on 'Other Events' and 'Financial Statements and Exhibits' as of February 15, 2024. The filing details various series of Medium-Term Senior Notes with different maturity dates, including those due in September 2028, September 2026, October 2028, March 2036, March 2029, February 2036, December 2035, and April 2028. It also mentions Series J Preferred Stock, indicating ongoing financial activities related to its debt and equity instruments.

Why It Matters

This filing provides transparency into Citigroup's outstanding debt and equity instruments, which is crucial for investors to assess the company's capital structure and financial obligations.

Risk Assessment

Risk Level: low — This filing is a routine disclosure of existing financial instruments and does not indicate new risks or significant changes.

Key Players & Entities

• CITIGROUP INC (company) — Filer of the 8-K
• Series N Medium-Term Senior Notes (company) — Debt instruments issued by Citigroup
• Series J Preferred Stock (company) — Equity instrument issued by Citigroup
• February 15, 2024 (date) — Conformed period of report
• February 20, 2024 (date) — Filed as of date

FAQ

Key Financial Figures

• $78.5 b — e, including: o Full year revenues of $78.5 billion, up 4% from 2022. o Net income f
• $9.2 b — 022. o Net income for the full year of $9.2 billion, down 38% from 2022. o Full year
• $4 — Full year diluted earnings per share of $4.04, down 42% from 2022. o The return o
• $6.1 billion — 4, down 42% from 2022. o The return of $6.1 billion in capital to Citi's common shareholder
• $26.0 m — mined that Ms. Fraser's compensation is $26.0 million, consisting of a flat base salary
• $1.5 million — on, consisting of a flat base salary of $1.5 million and a total incentive award of $24.5 mi
• $24.5 million — million and a total incentive award of $24.5 million as indicated in the following table. C
• $3.675 million — e Cash (15% of total incentive award) $3.675 million Deferred Incentive Deferred Stock (35
• $8.575 million — ears subject to performance conditions $8.575 million Performance Share Units (PSUs) (50% of
• $12.25 million — erage return on tangible common equity $12.25 million Total $26.0 million Consistent with
• $26.0 million — e common equity $12.25 million Total $26.0 million Consistent with prior years, the numbe
• $53.788 — s immediately preceding the Grant Date ($53.788). The target number of PSUs was also de

Filing Documents

• c-20240215x8k.htm (8-K) — 57KB
• c-20240215xex99d1.htm (EX-99.1) — 47KB
• 0001104659-24-025567.txt ( ) — 324KB
• c-20240215.xsd (EX-101.SCH) — 7KB
• c-20240215_def.xml (EX-101.DEF) — 17KB
• c-20240215_lab.xml (EX-101.LAB) — 29KB
• c-20240215_pre.xml (EX-101.PRE) — 17KB
• c-20240215x8k_htm.xml (XML) — 21KB

01. Other Events

Item 8.01. Other Events. On February 15, 2024 (the Grant Date), the Compensation, Performance Management and Culture Committee of the Citigroup Inc. (Citi) Board of Directors (the Compensation Committee) approved incentive compensation awards for 2023 performance to Citi's Chief Executive Officer (CEO) Jane Fraser. The Compensation Committee's 2023 incentive compensation determination for Ms. Fraser reflected its belief that Ms. Fraser's strategic and other priorities are sound and that she is executing on them promptly and thoughtfully, with an eye towards driving long-term sustainable growth, improved returns and enhanced safety and soundness. These priorities include simplifying Citi; aligning Citi's organizational structure to its business strategy and increasing accountability, transparency and focus of execution for Citi's businesses; exiting or winding down Citi's remaining international consumer markets; and executing on Citi's risk and control Transformation. Citi's compensation process starts with goal setting, in which the Compensation Committee approves scorecards for Ms. Fraser and Citi's other executive officers at the beginning of each year. The scorecards include both individual and corporate metrics and drive performance assessments across Financial, Risk and Control, Client and Franchise, and Leadership performance pillars. Year-end performance assessments occur in conjunction with market benchmarking versus peers, which lead to the Compensation Committee determination. The following factors were a focus of the Compensation Committee's 2023 compensation determination for Ms. Fraser: As Citi's CEO, Ms. Fraser has: o Reset Citi's strategy to focus on five interconnected businesses and to exit 14 international consumer markets. Under her leadership, Citi has: Provided greater transparency into the core businesses' financial performance with new financial reporting. Invested in the businesses in order to modernize our infrastructure, autom

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number 99.1 Citigroup Inc. securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 as of the filing date. 101 See the cover page of this Current Report on Form 8-K, formatted in Inline XBRL. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CITIGROUP INC. Dated: February 20, 2024 By: /s/ Brent McIntosh Brent McIntosh Chief Legal Officer and Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR