Citi’s $2.7 Billion and €900 Million Offerings

Cleary Gottlieb represented the underwriters, led by Citigroup Global Markets Inc., in a registered offering by Citigroup Inc. (Citi) of 2.7 million depositary shares, each representing a 1/25th interest in a share of 6.875% fixed-rate reset noncumulative perpetual preferred stock, Series GG ($25,000 liquidation preference per share).

Cleary also represented the underwriters, led by Citigroup Global Markets Limited, in a registered offering by Citi of €900 million in 4.296% fixed-rate/floating-rate callable subordinated notes, due 2036.

The offerings priced on July 16, 2025, and will close on July 23, 2025.

Citi, a global diversified financial services holding company, provides a broad range of financial products and services to consumers, corporations, governments, and institutions. Citi does business in nearly 160 countries and jurisdictions.