Citigroup files exhibit documents for medium-term senior notes on NYSE

Citigroup Inc. (NYSE:C), currently trading near its 52-week high at $87.07 per share and commanding a market capitalization of $162.29 billion, filed an 8-K report Thursday disclosing the submission of several exhibit documents related to its Medium-Term Senior Notes, Series N. According to InvestingPro analysis, the banking giant appears undervalued based on its Fair Value metrics. According to the press release statement, the filing includes the form of master note for Citigroup Global Markets Holdings Inc. Medium-Term Senior Notes, Series N, as well as legal opinions and consents from Davis Polk & Wardwell LLP, acting as special products counsel.

The report lists various securities registered under Section 12(b) of the Securities Exchange Act of 1934, including the company’s common stock and multiple series of senior notes and trust preferred securities. All listed securities are registered on the New York Stock Exchange.

The exhibits referenced in the filing are:

• Form of Master Note for Citigroup Global Markets Holdings Inc. Medium-Term Senior Notes, Series N
• Opinion of Davis Polk & Wardwell LLP as special products counsel to Citigroup Global Markets Holdings Inc.
• Consent of Davis Polk & Wardwell LLP, included in the legal opinion exhibit
• The cover page of the 8-K, formatted in Inline XBRL

No additional financial statements or operational updates were provided in the filing. The information is based on a press release statement included in Citigroup’s SEC filing made Thursday.

In other recent news, Citigroup has made several strategic moves that could impact investors’ decisions. BofA Securities raised its price target for Citigroup to $100, up from $89, while maintaining a Buy rating, citing confidence in CEO Jane Fraser’s turnaround strategy. This strategy includes exiting international consumer markets and increasing investments in technology and personnel. In a separate development, Citigroup has partnered with Carlyle Group (NASDAQ:CG) to provide asset-backed financing to fintech lenders, reflecting a growing demand for such financial solutions. Additionally, Citigroup announced it will cut approximately 3,500 jobs at its technology centers in China as part of a global strategy to streamline operations. The bank is also removing a 2018 policy that restricted banking services to retail clients selling firearms, responding to changes in regulatory conditions. These developments come amid ongoing scrutiny of U.S. banks and their service policies. Citigroup is adjusting its employee code of conduct and financial access policy to ensure non-discrimination based on political affiliation.

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