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Breaking News: Citi Preferred

In breaking news CNBC’s Bob Pisani says Citigroup (C) 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 Tuesday, but Pisani says the Street feels it will likely do so, or Wednesday morning at the latest.

What's the impact on common shares? Watch the video and find out!



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Trader disclosure: On March 9th, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), BTU); Pete Najarian Owns (BAC) Call Spread; Pete Najarian Owns (CMC) Calls; Pete Najarian Owns (ENER) Bonds; Pete Najarian Owns (INTC) Calls; Pete Najarian Owns (MCD) Call Spread; Pete Najarian Owns (QLGC) Calls; Pete Najarian Owns (C) Calls; Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM), (USO); Finerman's Firm Owns (WMT), (YUM); Finerman's Firm Is Long S&P Puts; Finerman Owns (AAPL); Finerman's Firm Owns (BAC), (BAC) Leap; Finerman Owns (BAC) Preferred, (BAC); Finerman's Firm And Finerman Own (GGP); Finerman's Firm And Finerman Own (GOOG); Finerman's Firm And Finerman Own (WFC) Prefered; Terranova Owns (GLD) March Puts; Terranova Is Short (XLY); Terranova Owns (AAPL), (EMC), (DELL), (MSFT), (GOOG); Kelly Owns (ELX) Calls; Kelly Owns (AMZN) Calls; Kelly Owns (QLGC) Calls; Edwards Owns (GLD) For Clients; Edwards Owns (GS) For Clients; Edwards Owns (INTC) For Clients; Edwards Owns (MCD) For Clients; Edwards Owns (WFC) For Clients; Edwards Owns (SPY) For Clients; Edwards Owns (QQQQ) For Clients; Jon Najarian Owns (CSCO), Is Short (CSCO) Calls; Jon Najarian Owns (AAPL), Is Short (AAPL) Calls; Jon Najarian Owns (GOOG), Is Short (GOOG) Calls; Najarian Owns (BAC) Call Spread; Najarian Owns (C) Calls; Najarian Owns (F) Calls; Najarian Owns (INTC) Calls; Najarian Owns (MCD) Call Spread

For Joe Terranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (GOK)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLI)

For Brian Kelly
Kanundrum Capital Owns (C)
Kanundrum Capital Owns (JPM)
Kanundrum Capital Owns (GE)
Kanundrum Capital Owns (ELX)
Kanundrum Capital Owns (QLGC)
Kanundrum Capital Owns (QCOM)
Kanundrum Capital Owns (TOL)
Kanundrum Capital Owns (PHM)
Kanundrum Capital Owns (RYN)
Kanundrum Capital Owns (EWA)
Kanundrum Capital Owns (EWC)
Kanundrum Capital Owns (EWJ)
Kanundrum Capital Is Long U.S. Dollar
Kanundrum Capital Is Short Copper
Kanundrum Capital Is Short (FCX)
Kanundrum Capital Is Short Euro
Kanundrum Capital Is Short Yen
Kanundrum Capital Is Short Swiss Franc
Kanundrum Capital Is Short Treasury Notes
Kanundrum Capital Is Short (GRMN)

For Dennis Gartman
Funds Managed By Dennis Gartman Own (GLD)
Funds Managed By Dennis Gartman Are Long Gold
Funds Managed By Dennis Gartman Are Short European Currencies

For Whitney Tilson
Funds Managed By Whitney Tilson Own (WMT)
Funds Managed By Whitney Tilson Own (PFE)
Funds Managed By Whitney Tilson Own (YHOO)
Funds Managed By Whitney Tilson Own (GGP)
Funds Managed By Whitney Tilson Own (BRK.A)
Funds Managed By Whitney Tilson Own (BRK.B)
Tilson Owns (BRK.B)
Tilson Owns (GGWPQ)


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