On January 28, 2026, Citigroup Inc. will redeem in full $2,500,000,000 of its outstanding 1.122% Fixed Rate / Floating Rate Notes due 2027 (ISIN US17327CAM55). The cash redemption price payable on the redemption date will be equal to the principal amount of each note, plus accrued and unpaid interest to, but excluding, the redemption date. This operation follows the notice of redemption filed with the Securities and Exchange Commission, and affects approximately 93% of the original $2.7 billion issuance, with the remaining balance held in certain affiliate accounts that are ineligible for redemption under the terms of the indenture.

The redemption reflects Citigroup’s ongoing liability management strategy aimed at optimizing funding costs and duration. By retiring high-quality fixed-rate debt at a coupon of 1.122% more than one year ahead of maturity, the bank reduces its exposure to potential interest-rate volatility while preserving capacity under its senior debt plans. Based on the redeemed principal, Citigroup will eliminate annualized interest expense of approximately $28 million at that coupon level. Management has indicated that proceeds will be allocated toward general corporate purposes, including short-term liquidity management and the planned drawdown under its 2026 capital return program, which projects up to $10 billion in share repurchases and dividends this year.