Citigroup announces T-DEC settlement rates changes effective Aug. 24

By Ashley Montgomery

Kansas City, Kan., Aug. 14 - Citigroup Inc. plans to adjust the rates on its T-DECS, according to a news release.

The following adjustments will be effective Aug. 24:

• The minimum settlement rate will be increased to 2.5444 from 2.5434;

• The maximum settlement rate will be increased to 3.1804 from 3.1792;

• The reference price will be lowered to $31.44 from $31.45; and

• The threshold appreciation price will be lowered to $39.30 from $39.32.

The adjustments are a result of the company's dividend of $0.01 per share of common stock that will be paid on Aug. 24.

Citigroup is a financial services group based in New York.

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