Citigroup

William D. Katona on

How do I record the Citigroup change? We have 85 shares of C, but now also have 3 shares of TAP/A and 7 shares ofTAP/B. They were added to our account without us doing anything. We also received cash ($9.35 and $8.01) in lieu of fractional shares. Is this a spin-off? How do I record the transactions?

Paul Moeller on

William D. Katona wrote:
> How do I record the Citigroup change?

The Citigroup spin-off of TAPA and TAPB can be recorded in a
very similar manner as the LU AGRA/AGRB spin-off earlier
this year.

The share ratio was the following:
TAPA 0.0432043
TAPB 0.0887656

Citigroup recommended the allocation of basis percentage
found on the following page.

http://www.citigroup.com/citigroup/fin/data/tap_tax_basis.pdf

C 93.63
TAPA 1.98
TAPB 4.39

You can enter this information into bivio by creating two
spin-off transactions.

                        Ticker: C
               Spin-off Ticker: TAPA
              Transaction Date: 8/20/2002
                        Shares: <C shares * 0.0432043>
    Remaining Basis Percentage: 98.02
                 Cash Received: <Cash in lieu for TAPA>

                        Ticker: C
               Spin-off Ticker: TAPB
              Transaction Date: 8/20/2002
                        Shares: <C shares * 0.0887656>
    Remaining Basis Percentage: 95.52
                 Cash Received: <Cash in lieu for TAPB>

So if you owned 85 shares C, you would have received
3.672365 shares TAPA and 7.545076 shares TAPB.

Paul Moeller
bivio Inc.

Juan Mostek on

I have it now. Bivio picks up TAPA and TAPB as the symbols.
Yahoo, for example, only picks up TAPa and TAPb (watch caps
on these). All the transactions now key out to my broker
statement.

Thanks Paul,

J Mostek

Paul Moeller wrote:
> William D. Katona wrote:
> > How do I record the Citigroup change?
>
> The Citigroup spin-off of TAPA and TAPB can be recorded in a
> very similar manner as the LU AGRA/AGRB spin-off earlier
> this year.
>
> The share ratio was the following:
> TAPA 0.0432043
> TAPB 0.0887656
>
> Citigroup recommended the allocation of basis percentage
> found on the following page.
>
> http://www.citigroup.com/citigroup/fin/data/tap_tax_basis.pdf
>
> C 93.63
> TAPA 1.98
> TAPB 4.39
>
> You can enter this information into bivio by creating two
> spin-off transactions.
>
> Ticker: C
> Spin-off Ticker: TAPA
> Transaction Date: 8/20/2002
> Shares: <C shares * 0.0432043>
> Remaining Basis Percentage: 98.02
> Cash Received: <Cash in lieu for TAPA>
>
> Ticker: C
> Spin-off Ticker: TAPB
> Transaction Date: 8/20/2002
> Shares: <C shares * 0.0887656>
> Remaining Basis Percentage: 95.52
> Cash Received: <Cash in lieu for TAPB>
>
> So if you owned 85 shares C, you would have received
> 3.672365 shares TAPA and 7.545076 shares TAPB.
>
> Paul Moeller
> bivio Inc.