Citi

Quote from Debaser82:

So, now C is the only tripple A bank in the world?

How fast the tables turn.

Everyone run to C and put your money there it's safe.
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Until gov suspends withdrawl
 
David Faber on CNBC said that some of the C preferred were trading at 15 cents on the dollar.

So if we assume a share price of $1.50, then 1.50 / 3.25 = 46 cents in the dollar.

So using this line of thinking, 46 cents in the dollar is better than 15 cents in the dollar.

Quote from kinggyppo:

Think of all the investors that thought they were safe with preferred, totally screwed them.
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These C preferreds are gapping UP

C-I CITIGROUP INC PFD 10.54 NYSE
C-M CITIGROUP PFD F 6.09 NYSE
C-ML Citigroup 5.864 Cum 50.32 NA
C-N CITIGROUP IV 6.85 NA NA
C-P CITIGROUP PFD SER AA 5.48 NYSE
C-QL Citigroup Adj Rt Dep Pfd 24.98 NA
C-R CITIGROUP CAP X 7.74 NYSE
C-S CITIGROUP CAP IX 6.0 7.32 NYSE
C-U CITIGROUP CAPITAL XV 7.31 NYSE
C-V CITIGROUP CAP VII 7.99 NYSE
C-W CITIGROUP INC. 6.45% 7.15 NYSE
 
Yes, although the calculation may be simplistic, you could value preferred stock at

(common stock price / 3.25) * par value of preferred stock

Quote from Daal:

Perhaps these C pref trusts are pricing in more solvency and ability to pay as the big pref holders convert?
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there are 5.4 billion shars outstanding. if we dvide 26 billion by 3.5 we get about 7.5bshares adilution of
does this mean a dilution of 55% ?
calculations correct?
 
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