PREFERRED STOCK

The following table summarizes the Company’s preferred stock outstanding at September 30, 2014 and December 31, 2013:



								Carrying value in millions of dollars
	Issuance date	Redeemable by issuer beginning	Dividend rate		Redemption price per depositary share/preference share		Number of depositary shares	September 30, 2014		December 31, 2013
Series AA⁽¹⁾	January 25, 2008	February 15, 2018	8.125	%	$	25	3,870,330	$	97	$	97
Series E⁽²⁾	April 28, 2008	April 30, 2018	8.400	%	1,000		121,254	121		121
Series A⁽³⁾	October 29, 2012	January 30, 2023	5.950	%	1,000		1,500,000	1,500		1,500
Series B⁽⁴⁾	December 13, 2012	February 15, 2023	5.900	%	1,000		750,000	750		750
Series C⁽⁵⁾	March 26, 2013	April 22, 2018	5.800	%	25		23,000,000	575		575
Series D⁽⁶⁾	April 30, 2013	May 15, 2023	5.350	%	1,000		1,250,000	1,250		1,250
Series J⁽⁷⁾	September 19, 2013	September 30, 2023	7.125	%	25		38,000,000	950		950
Series K⁽⁸⁾	October 31, 2013	November 15, 2023	6.875	%	25		59,800,000	1,495		1,495
Series L⁽⁹⁾	February 12, 2014	February 12, 2019	6.875	%	25		19,200,000	480		—
Series M⁽¹⁰⁾	April 30, 2014	May 15, 2024	6.300	%	1,000		1,750,000	1,750		—
								$	8,968	$	6,738


(1)	Issued as depositary shares, each representing a 1/1,000^th interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends payable quarterly on February 15, May 15, August 15 and November 15 when, as and if declared by the Citi Board of Directors.

(2)

Issued as depositary shares, each representing a 1/25^th interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends payable semi-annually on April 30 and October 30 at a fixed rate until April 30, 2018, thereafter payable quarterly on January 30, April 30, July 30 and October 30 at a floating rate, in each case when, as and if declared by the Citi Board of Directors.

(3)

Issued as depositary shares, each representing a 1/25^th interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends payable semi-annually on January 30 and July 30 at a fixed rate until January 30, 2023, thereafter payable quarterly on January 30, April 30, July 30 and October 30 at a floating rate, in each case when, as and if declared by the Citi Board of Directors.

(4)

Issued as depositary shares, each representing a 1/25^th interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends payable semi-annually on February 15 and August 15 at a fixed rate until February 15, 2023, thereafter payable quarterly on February 15, May 15, August 15 and November 15 at a floating rate, in each case when, as and if declared by the Citi Board of Directors.


(5)	Issued as depositary shares, each representing a 1/1,000^th interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends payable quarterly on January 22, April 22, July 22 and October 22 when, as and if declared by the Citi Board of Directors.

(6)

Issued as depositary shares, each representing a 1/25^th interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends payable semi-annually on May 15 and November 15 at a fixed rate until May 15, 2023, thereafter payable quarterly on February 15, May 15, August 15 and November 15 at a floating rate, in each case when, as and if declared by the Citi Board of Directors.

(7)

Issued as depositary shares, each representing a 1/1,000^th interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends payable quarterly on March 30, June 30, September 30 and December 30 at a fixed rate until September 30, 2023, thereafter payable quarterly on the same dates at a floating rate, in each case when, as and if declared by the Citi Board of Directors.

(8)

Issued as depositary shares, each representing a 1/1,000^th interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends payable quarterly on February 15, May 15, August 15 and November 15 at a fixed rate until November 15, 2023, thereafter payable quarterly on the same dates at a floating rate, in each case when, as and if declared by the Citi Board of Directors.


(9)	Issued as depositary shares, each representing a 1/1,000^th interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends payable quarterly on February 12, May 12, August 12 and November 12 at a fixed rate, in each case when, as and if declared by the Citi Board of Directors.

(10)

Issued as depository shares, each representing a 1/25^th interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends payable semi-annually on May 15 and November 15 at a fixed rate until May 15, 2024, thereafter payable quarterly on February 15, May 15, August 15, and November 15 at a floating rate, in each case when, as and if declared by the Citi Board of Directors.

Through the third quarter of 2014, Citi had distributed $352 million in dividends on its outstanding preferred stock. Based on its preferred stock outstanding as of September 30, 2014, Citi estimates it will distribute preferred dividends of approximately $159 million during the remainder of 2014, in each case assuming such dividends are approved by the Citi Board of Directors.

On October 29, 2014, Citi issued $1.5 billion of Series N Preferred Stock as depository shares, each representing a 1/25th interest in a share of the corresponding series of non-cumulative perpetual preferred stock. The dividend rate is 5.800% per annum, payable semi-annually on each May 15 and November 15, from issuance to, but excluding, November 15, 2019, and thereafter a floating rate equal to three-month LIBOR plus 4.093% per annum, payable quarterly on each February 15, May 15, August 15 and November 15, in each case when, as and if declared by the Citi Board of Directors.