C.L. King Underwrites Citigroup Preferred Stock Offering

C.L. King acted as an underwriter for Citigroup’s offering of 52 million depository shares priced at $25 per share, raising $1.3B. Each depository share represents a 1/1,000th interest in a share of 6.875% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series K. The issue is rated B1/BB-/BB.