Summary by Futu AI
On March 5, 2024, Citigroup Inc. announced the establishment of a new series of preferred stock, specifically the 7.200% Fixed Rate Reset Noncumulative Preferred Stock, Series BB. The company filed a Certificate of Designations with the Secretary of State of Delaware, which effectively amended Citigroup's Restated Certificate of Incorporation. This amendment was made effective immediately upon filing. In connection with this new issuance, Citigroup also entered into an Underwriting Agreement on February 28, 2024, and a Deposit Agreement on March 6, 2024. The Deposit Agreement involves Citigroup Inc., Computershare Inc., Computershare Trust Company, N.A., and the holders of the Depositary Shares and the related preferred stock. The legal opinion of Skadden, Arps, Slate, Meagher & Flom LLP regarding the offering was also filed. These documents were included as exhibits to Citigroup's Form 8-K filed with the SEC, which also lists the securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 as of the filing date.