If you hold Citi preferred stocks that are the subject of the conversion (see below table) you should have received an information package from Citi, via your broker, on or about July 1, 2009. If you did not receive the information package, and feel that you should have, please contact your broker immediately.
The expiration date of Citi's conversion offer is July 24, 2009.
However, Citi has made it very clear that to allow for processing time, shareholders who wish to volunteer their shares ("tender") for this conversion should do so at least five business days prior to this expiration date.
So if you are intending on tendering your preferred stock shares under Citi's offer, you should do so by close of business tomorrow, Friday, July 17, 2009.
The Citi information package explains the process for tendering your shares.
The Citi preferred stock issues that are the subject of their voluntary conversion program are listed in this table.
Special Note To CDx3 Notification Service Subscribers: Please check the CDx3 Flash email message that you received on Thursday, June 11, 2009 for a similar table that identifies which of these Citi preferred stocks are CDx3 Preferred Stocks (i.e. meet the ten selection criteria from chapter 7 of Preferred Stock Investing)
Remember too that Citi is going to convert these preferred stock shares to common stock shares in the prioritized order shown on this table until they have reached their goal. So it is possible that even if you volunteer your shares for conversion, they will not end up being converted.
Citi will continue to pay the dividends associated with these preferred stocks for all holders whose shares are not converted under this offer. You can read more about the Citi conversion offer here.
Whether or not to convert your preferred shares to Citi common stock is a personal decision that only you can make. Whatever decision you make, I wanted to remind you that, per Citi's instructions, you have until close of business tomorrow to make it.
Thank you for your interest in my preferred stock research and my book, Preferred Stock Investing.
Many Happy Returns.