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Pisani: Citi Pricing Its Preferred Offering

Tuesday, 9 Mar 2010 | 6:08 PM ET

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 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

Freddie Mac

AIG

Bank of America

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Questions? Comments? tradertalk@cnbc.com

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  • A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

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