Citibank Credit Card Issuance Trust
Final Term Sheet dated May 14, 2008
$1,150,000,000 Floating Rate Class 2008-A6 Notes of May 2015
(Legal Maturity Date May 2017)
The issuance trust proposes to issue and sell Class 2008-A6 Notes of the Citiseries pursuant to the base prospectus (the “prospectus”) dated April 15, 2008, as supplemented. The offered Class A Notes will have substantially the same terms and underwriting arrangements as the Class 2008-A3 Notes described in the prospectus supplement dated March 12, 2008 (the “prior prospectus supplement”), to the extent not otherwise different from the terms set forth below:
| Issuing Entity: | Citibank Credit Card Issuance Trust |
| Principal Amount: | $1,150,000,000 |
| Initial Nominal Liquidation Amount: | Principal Amount |
| Ratings: | AAA or its equivalent by at least one nationally recognized rating agency |
| Interest Rate: | One-month LIBOR plus 1.20% per annum |
| Expected Principal Payment Date: | May 20, 2015 |
| Legal Maturity Date: | May 22, 2017 |
| Expected Issuance Date: | May 20, 2008 |
| Date Interest begins to accrue: | Issuance Date |
| Interest Payment Dates: | 20th day of each month, beginning June 2008; provided, however, that if an event of default or early redemption event occurs with respect to these Class A notes, or if these Class A notes are not paid in full on the expected principal payment date, the issuance trust will begin making principal and interest payments on the 20th day of every month |
| Price to Public: | $1,150,000,000 (or 100.00%) |
| Underwriting Discount: | $3,450,000 (or 0.30%) |
| Proceeds to issuance trust: | $1,146,550,000 (or 99.70%) |
| Underwriters and allocations: | Citi, $287,500,000 Banc of America Securities LLC, $287,500,000 Credit Suisse, $287,500,000 Lehman Brothers, $287,500,000 |
| Underwriters' Concession: | 0.25% |
| Reallowance Concession: | 0.15% |
| Monthly Accumulation Amount: | An amount equal to one twelfth of the initial dollar principal amount of these Class A notes |
| Maximum Class B Note Subordination: | An amount equal to 5.98291% of the initial dollar principal amount of these Class A notes |
| Maximum Class C Note Subordination: | An amount equal to 7.97721% of the initial dollar principal amount of these Class A notes |
| Minimum Denomination: | $100,000 and multiples of $1,000 in excess of that amount |
| Stock Exchange Listing: | Application will be made to list on the Irish Stock Exchange |
| Outstanding Notes of the Citiseries: | As of May 13, 2008, there were 80 subclasses of notes of the Citiseries outstanding, with an aggregate outstanding principal amount of $68,906,249,918, consisting of: Class A notes $60,730,249,918 Class B notes $ 3,400,000,000 Class C notes $ 4,776,000,000 |
As of May 13, 2008, the weighted average interest rate payable by the issuance trust in respect of the outstanding subclasses of notes of the Citiseries was 3.68% per annum, consisting of: Class A notes 3.62% per annum Class B notes 3.50% per annum Class C notes 4.61% per annum | |
| Master Trust Assets and Receivables: | The aggregate amount of credit card receivables in the master trust as of March 30, 2008 was $77,816,051,875, of which $76,838,947,941 were principal receivables and $977,103,934 were finance charge receivables. |
| Annex I: | The information presented in Annex I to the prior prospectus supplement has been superseded by the information presented in a Form 8-K filed with the SEC by Citibank Credit Card Master Trust I, the issuer of the collateral certificate, on May 7, 2008. Static pool information concerning losses, delinquencies, revenue yield and payment rate for the master trust receivables has been stored by Citibank (South Dakota) since January 2006 and can be found at www.citigroup.com/citigroup/citibankmastertrust/staticpool. |
2
The issuance trust has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and the prior prospectus supplement and other documents the issuance trust has filed with the SEC for more complete information about the issuance trust and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. The file number of the issuance trust's registration statement is 333-145220. Alternatively, the issuance trust, any underwriter or any dealer participating in the offering will arrange to send to you the prospectus and the prior prospectus supplement if you request it by calling 605-331-1567, which you may call collect.