Citigroup Announces EUR1.5 Billion Redemption of 0.500% Fixed Rate / Floating Rate Notes Due 2027

Citigroup revised its forecast, now expecting the Federal Reserve's first interest rate cut in June 2027, delayed from earlier projections. This follows a stronger-than-expected US jobs report, with 162,000 jobs added in August, surpassing economist forecasts. The Fed raised rates in September 2026, with 16 of 18 officials anticipating further hikes. Bitcoin initially dropped below $80,000 but later recovered above $86,000, supported by ETF inflows and short covering.

Citigroup will start meetings with loan investors for Paramount Skydance Corp. to fund its takeover of Warner Bros. Discovery. The $110 billion deal includes $30 billion in investment-grade bonds, $7.5 billion in loans, and $12 billion in second-lien bonds. The takeover was delayed by lawsuits but is now cleared to close. Citigroup, Bank of America, and Apollo Global Management underwrote the debt package.

A7, a Kremlin-backed fintech company, moved $6.9bn through global banks like Standard Chartered, Citigroup, and others via a forgery scheme. The company used front entities and forged documents to bypass sanctions and facilitate payments, including for war-related goods. A7's operations involved multiple banks and countries, with significant flows routed through Hong Kong and the UAE.

Citigroup Inc. will redeem EUR 1.5 billion of its 0.500% Fixed Rate / Floating Rate Notes due 2027 on October 8, 2026. The redemption price will be par plus accrued interest. This move aligns with Citigroup's liability management strategy to optimize funding and capital structure.

Citigroup Inc. announced the redemption of €1.5 billion of its 0.500% Fixed Rate/Floating Rate Notes due 2027. The redemption date is October 8, 2026, with the cash redemption price equal to par plus accrued interest. This move aligns with Citigroup's liability management strategy to optimize funding and capital structure. Citibank, N.A. serves as the paying agent for the notes.

Shares of JPMorgan Chase (JPM), Bank of America (BAC), and Citigroup (C) fell 2% to 3% due to concerns that AI advancements may disrupt the banking sector. The selloff followed Meta Platform's unveiling of its AI agent, Muse. Brokerages Charles Schwab (SCHW) and LPL Financial (LPLA) also declined over 5% on similar fears. JPM has a Moderate Buy rating with a $378.67 average price target, implying 9% upside.