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Pisani: Citi Pricing Its Preferred Offering

Published: Tuesday, 9 Mar 2010 | 6:08 PM ET
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By: Bob Pisani
CNBC Reporter

Traders telling me that Citigroup will be pricing its preferred offering, $25 par, at a yield of 8.875 percent.

Size is roughly $2 billion; one trader said it was “multiple times oversubscribed.”

A Citigroup [C 3.82 0.26 (+7.3%) ] spokesperson would not confirm the terms or that it would price tonight. But traders feel it will likely do so, or tomorrow morning at the latest.

Other Financials Moving Tuesday:

Fannie Mae [FNM 1.07 0.06 (+5.94%) ]

Freddie Mac [FRE 1.28 0.09 (+7.56%) ]

AIG [AIG 32.77 3.67 (+12.61%) ]

Bank of America [BAC 16.80 0.06 (+0.36%) ]



LINK: http://www.cnbc.com/id/35786160/site/14081545?__source=yahoo|headline|quote|text|&par=yahoo