Summary by Futu AI
On December 2, 2024, Citigroup filed a Certificate of Designations with Delaware's Secretary of State, establishing a new series of preferred stock, 6.750% Fixed Rate Reset Noncumulative Preferred Stock, Series EE. This amendment to Citigroup’s Restated Certificate of Incorporation was effective immediately upon filing.The Certificate of Designations outlines the designations, preferences, powers, and rights of the new preferred stock series. Additionally, an Underwriting Agreement dated November 25, 2024, was executed for the offer and sale of Depositary Shares, each representing a 1/25th interest in a share of the new preferred stock.A Deposit Agreement was also established on December 3, 2024, involving Citigroup, Computershare Inc., and Computershare Trust Company, N.A., as Depositary, Registrar, and Transfer Agent.