Citigroup unit announces tender offer results

NEW YORK — The brokerage and securities arm of Citigroup Inc. on Wednesday announced results of a cash tender offer to purchase 33,000 preferred shares on terms set forth in an Aug. 17 offer.

About 20 percent, or 6,725 shares of the 33,000 outstanding shares covered under the offer, were tendered and not withdrawn by the expiration of the offer on Tuesday night, Citigroup Global Markets Inc. said. Investors were offered $100 per share.

The preferred shares were issued by Pro Rata Funding Ltd., an exempted company incorporated with limited liability under the laws of the Cayman Islands.