Exhibit 1.01
CITIGROUP GLOBAL MARKETS HOLDINGS INC.
Retail Medium-Term Notes, Series C
GLOBAL SELLING AGENCY AGREEMENT
September 22, 2003
New York, New York
To the Agents listed on Schedule I hereto
Ladies and Gentlemen:
Citigroup Global Markets Holdings Inc., a New York corporation (the
"Company"), confirms its agreement with each of you with respect to the issue
and sale by the Company of up to $5,000,000,000 aggregate principal amount of
its Retail Medium-Term Notes, Series C in registered form (the "Notes"). It is
understood that the Company may from time to time authorize the issuance and
sale of additional amounts of the Notes and that such Notes may be issued and
sold pursuant to the terms of this Agreement, all as though the issuance and
sale of such Notes were authorized by the Company as of the date hereof.
The Notes will be issued under an indenture (the "Senior Debt Indenture")
dated as of December 1, 1988, as amended from time to time, between the Company
and Bank One Trust Company, N.A., as successor trustee (the "Trustee"). Unless
otherwise specifically provided for and set forth in a supplement to the
Prospectus referred to below, the Notes will be issued in minimum denominations
of $1,000 and in denominations exceeding such amount by integral multiples of
$1,000 and will be issued only in fully registered form, and the Notes will have
the interest rates, maturities, redemption provisions and other terms set forth
in the applicable Pricing Supplement (as defined herein).
The Notes will be issued, and the terms thereof established, in accordance
with the Senior Debt Indenture and the Retail Medium-Term Notes, Series C
Administrative Procedures attached hereto as Exhibit A (the "Administrative
Procedures") (unless a Terms Agreement (as defined in Section 2(b)) modifies or
otherwise supersedes such Administrative Procedures with respect to the Notes
issued pursuant to such Terms Agreement). The Administrative Procedures may only
be amended by written agreement of the Company and Citigroup Global Markets
Inc., as purchasing agent (the "Purchasing Agent"), on behalf of the Agents,
after notice to, and with the approval of, the Trustee.
For purposes of this Agreement, the term "Agent" shall refer to any one of
you and to any additional agents appointed as a party to this Agreement pursuant
to Section 2(d) hereof; and the term "you" shall refer to you and any other
Agent collectively. In acting under this Agreement, each of you is acting
individually and not jointly.
1. Representations and Warranties. The Company represents and warrants to,
and agrees with, each of you as set forth below in this Section 1.
(a) Registration Statements (File Nos. 333-55650 and 333-106272) in
respect of $10,332,545,345 aggregate principal amount of securities of the
Company, including the Notes, have been filed with the Securities and Exchange
Commission (the "Commission"); such registration statements and any
post-effective amendment thereto, each in the forms heretofore delivered or to
be delivered to each of you, excluding exhibits to such registration statements
but including all documents incorporated by reference therein, have been
declared effective by the Commission in such forms; no other document with
respect to such registration statements (other than a document incorporated by
reference therein) has heretofore been filed or transmitted for filing with the
Commission; and no stop order suspending the effectiveness of either
registration statement has been issued and no proceeding for that purpose has
been instituted or threatened by the Commission (any preliminary prospectus
included in the Second Registration Statement (as defined herein) or filed with
the Commission pursuant to Rule 424(a) of the rules and regulations of the
Commission under the Securities Act of 1933, as amended (the "Act"), being
hereinafter called a "Preliminary Prospectus"); the various parts of each
registration statement, including all exhibits thereto and the documents
incorporated by reference in the prospectus contained in such registration
statement at the time such part of such registration statement became effective
but excluding the Statements of Eligibility under the Trust Indenture Act of
1939, as amended (the "Trust Indenture Act"), pertaining to the Indenture (the
"Forms T-1"), each as amended at the time such part became effective, being
hereinafter collectively called (i) in the case of Registration Statement No.
333-55650, the "First Registration Statement" and (ii) in the case of
Registration Statement No. 333-106272, the "Second Registration Statement"; the
First Registration Statement and the Second Registration Statement being
hereinafter called the "Registration Statements"; the form of basic prospectus
relating to the offering and sale of Debt Securities and Index Warrants included
in the Second Registration Statement, in the form in which it has most recently
been filed, or transmitted for filing, with the Commission on or prior to the
date of this Agreement being hereinafter from time to time called the "Basic
Prospectus"; the supplement to the Prospectus relating to the Notes and the plan
of distribution thereof being hereinafter called the "Prospectus Supplement";
and the Basic Prospectus (and the Prospectus Supplement) being hereinafter
called the "Prospectus". Any reference herein to the Prospectus, a Preliminary
Prospectus or any Prospectus Supplement shall be deemed to refer to and include
the documents incorporated by reference therein pursuant to the applicable form
under the Act, as of the date of such Prospectus, Preliminary Prospectus or
Prospectus Supplement, as the case may be; any reference to any amendment or
supplement to any Prospectus, Preliminary Prospectus or Prospectus Supplement,
including any supplement to the Prospectus that sets forth only the terms of a
particular issue of the Notes (a "Pricing Supplement"), shall be deemed to refer
to and include any documents filed after the date of such Prospectus,
Preliminary Prospectus or Prospectus Supplement, as the case may be, under the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), and
incorporated by reference in such Prospectus or Prospectus Supplement, as the
case may be; any reference to any amendment to either Registration Statement
shall be deemed to include any report of the Company filed pursuant to the
Exchange Act after the effective date of such Registration Statement that is
incorporated by reference in such Registration Statement; and any reference to
the Prospectus as amended or supplemented shall be deemed to refer to and
include the Prospectus as amended or supplemented in relation to the Notes sold
pursuant to this Agreement, in the form in which it is filed with the Commission
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pursuant to Rule 424(b) under the Act, including any documents incorporated by
reference therein as of the date of such filing);
(b) The documents incorporated by reference in the Prospectus, when they
became effective or were filed with the Commission, as the case may be,
conformed in all material respects to the requirements of the Act or the
Exchange Act, as applicable, and the rules and regulations of the Commission
promulgated thereunder, and any further documents so filed and incorporated by
reference in the Prospectus, or any further amendment or supplement thereto,
when such documents become effective or are filed with the Commission, as the
case may be, will conform in all material respects to the requirements of the
Act or the Exchange Act, as applicable, and the rules and regulations of the
Commission thereunder;
(c) Each Registration Statement and the Prospectus, and any amendment
thereof or supplement thereto, and the Indenture, conform or will conform in all
material respects with the applicable requirements of the Act and the Trust
Indenture Act, and the rules and regulations of the Commission thereunder;
(d) The First Registration Statement as of its effective date did not, and
the Second Registration Statement, as amended as of any time, did not and will
not, contain any untrue statement of a material fact or omit to state any
material fact required to be stated therein or necessary in order to make the
statements therein not misleading and the Prospectus, as amended and
supplemented as of any such time, did not and will not include any untrue
statement of a material fact or omit to state a material fact necessary in order
to make the statements made, in the light of the circumstances under which they
were made, not misleading; provided, however, that the Company makes no
representations or warranties as to the information contained in or omitted from
the Second Registration Statement or the Prospectus or any amendment thereof or
supplement thereto in reliance upon, and in conformity with, information
furnished in writing to the Company by or on behalf of any Agent specifically
for use in the Second Registration Statement and the Prospectus or any amendment
thereof or supplement thereto;
(e) The Notes have been duly authorized and, when executed and
authenticated in accordance with the Indenture and delivered to and duly paid
for by the purchasers thereof, will constitute valid and binding obligations of
the Company, enforceable in accordance with their respective terms and entitled
to the benefits of the Indenture (subject, as to enforcement, to applicable
bankruptcy, reorganization, insolvency, moratorium or other similar laws
affecting creditors' rights generally and to general principles of equity
regardless of whether such enforceability is considered in a proceeding in
equity or at law); the Indenture has been duly authorized by the Company and
qualified under the Trust Indenture Act; and the Indenture conforms to the
descriptions thereof in the Prospectus as amended or supplemented to relate to
such issuance of Notes;
(f) Since the date of the most recent financial statements included in the
Prospectus, as amended or supplemented, there has not been any material adverse
change in the consolidated financial condition or results of operations of the
Company and its subsidiaries, taken as a whole, which is not disclosed in the
Prospectus, as amended or supplemented.
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2. Appointment of Agents. Subject to the terms and conditions stated
herein, the Company hereby (i) appoints and authorizes the Agents to act as its
agents to solicit offers for the purchase of all or part of the Notes from the
Company in accordance with the terms hereof and (ii) agrees that whenever the
Company determines from time to time to sell Notes pursuant to this Agreement,
it will enter into a Terms Agreement (as defined below) relating to such sale in
accordance with the provisions of Section 2(b) hereof between the Company and
the Purchasing Agent, with the Purchasing Agent purchasing such Notes as
principal for resale to other Agents or other dealers (the "Selected Dealers"),
each of whom will purchase as principal.
(a) Solicitations of Offers to Purchase Notes. Following the Commencement
Date (referred to below), the Company shall notify the Purchasing Agent from
time to time as to the commencement of a period during which the Notes may be
offered and sold by the Agents (each period, commencing with such a notification
and ending at such time as the authorization for offers and sales through the
Agents shall have been suspended by the Company or the Agents as provided
hereunder, being herein referred to as an "Offering Period"). The initial
Offering Period shall begin on September 22, 2003 (the "Commencement Date"). On
the basis of the representations and warranties, and subject to the terms and
conditions set forth herein, each of the Agents agrees to use its reasonable
best efforts to solicit offers to purchase Notes from the Company upon the terms
and conditions set forth in the applicable Prospectus (and any supplement
thereto) and in the Administrative Procedures. The Purchasing Agent shall
communicate to the Company, orally or in writing, each reasonable offer or
indication of interest to purchase Notes received by the Agents. The Company
shall have the sole right to accept offers to purchase the Notes and may reject
any such offer in whole or in part. Each Agent shall have the right to reject,
in its discretion reasonably exercised, any offer received by it to purchase the
Notes, in whole or in part, and any such rejection shall not be deemed a breach
of its agreements contained herein. In soliciting offers to purchase the Notes,
no Agent assumes any obligation toward or relationship of agency or trust with
any purchaser of the Notes (other than any such obligation or relationship which
the Agent assumes independently of this Agreement). Each Agent shall make
reasonable efforts to assist the Company in obtaining performance by each
purchaser whose offer to purchase Notes has been solicited by such Agent and
accepted by the Company. Except as provided in Section 2(b) and Section 2(c)
below, under no circumstances will any Agent be obligated to purchase any Notes
for its own account. It is understood and agreed, however, that any of you may
purchase Notes as principal pursuant to Section 2(b) and Section 2(c) below, as
applicable.
The Company reserves the right, in its sole discretion, to instruct the
Agents to suspend at any time, for any period of time or permanently, the
solicitation of offers to purchase Notes. Upon receipt of instructions from the
Company, the Agents will forthwith suspend solicitation of offers to purchase
Notes from the Company until such time as the Company has advised them that such
solicitation may be resumed.
Subject to the provisions of this Section 2 and to the Administrative
Procedures, as applicable, offers for the purchase of Notes may be solicited by
an Agent at such time and in such amounts as such Agent shall deem advisable.
The Company may from time to time offer Notes for sale otherwise than through an
Agent; provided, however, that so long as this Agreement is in effect the
Company shall not solicit or accept offers to purchase Notes through any agent
other than an Agent.
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If the Company defaults in its obligations to deliver Notes to a purchaser
whose offer it has accepted, the Company shall indemnify and hold each of you
harmless against any loss, claim or damage arising from or as a result of such
default by the Company.
(b) Purchases of Notes. Subject to the terms and conditions stated herein,
each sale of Notes shall be made in accordance with the terms of this Agreement
and a supplemental agreement between the Company and the Purchasing Agent which
will provide for the sale of such Notes to, and the purchase of and reoffering
thereof by, the Purchasing Agent, as principal. Each such supplemental agreement
(which may be either an oral or written agreement) is herein referred to as a
"Terms Agreement". Each Terms Agreement shall describe the Notes to be purchased
by the Purchasing Agent pursuant thereto and shall specify the aggregate
principal amount of such Notes, the price to be paid to the Company for such
Notes, the initial public offering price at which the Notes are proposed to be
reoffered, the maturity date of such Notes, the rate at which interest will be
paid on such Notes, the dates on which interest will be paid on such Notes and
the record date with respect to each such payment of interest, whether the Notes
provide for a Survivor's Option, such other terms of the Notes as are
applicable, the Settlement Date for the purchase of such Notes, the method of
payment and any requirements for the delivery of opinions of counsel,
certificates from the Company or its officers or a letter from the Company's
independent public accountants as described in Section 5(b). A Terms Agreement
may also specify certain provisions relating to the reoffering of such Notes by
the Purchasing Agent. Any written Terms Agreement may be in the form attached
hereto as Exhibit B. The Purchasing Agent's commitment to purchase Notes shall
be deemed to have been made on the basis of the representations and warranties
of the Company herein contained and shall be subject to the terms and conditions
herein set forth.
Each date of delivery of and payment for Notes to be purchased by the
Purchasing Agent is referred to herein as a "Settlement Date". Delivery of the
Notes sold to the Purchasing Agent pursuant to a Terms Agreement shall be made
not later than the Settlement Date agreed to in such Terms Agreement, against
payment of funds to the Company in the net amount due to the Company for such
Notes by the method and in the form set forth in the Administrative Procedures,
as applicable, unless otherwise agreed to between the Company and the Purchasing
Agent in such Terms Agreement.
The Company agrees to pay the Purchasing Agent a commission on the
Settlement Date with respect to each sale of Notes by the Company as a result of
solicitations made by the Agents, in an amount equal to that percentage
specified in Schedule II hereto of the aggregate principal amount of the Notes
sold by the Company; provided, however, that the Company and the Purchasing
Agent may agree to a commission greater than or less than the percentages
specified in Schedule II hereto; and provided further that in no case shall the
commission exceed 8% of the initial offering proceeds. Such commission shall be
payable as specified in the Administrative Procedures, and the actual aggregate
commission with respect to each sale of Notes will be set forth in the relevant
Pricing Supplement. The Purchasing Agent and the other Agents or Selected
Dealers will share the above-mentioned commission in such proportions as they
may agree.
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Unless otherwise agreed to between the Company and the Purchasing Agent in
a Terms Agreement, any Note sold to the Purchasing Agent (i) shall be purchased
by the Purchasing Agent at a price equal to 100% of the principal amount thereof
less a percentage equal to the applicable commission and (ii) may be resold by
the Purchasing Agent to other Agents or Selected Dealers, each of whom will
purchase as principal for resale to the public at a fixed public offering price
which shall be set forth in the applicable Terms Agreement and Pricing
Supplement. In connection with any resale of Notes purchased, without the
consent of the Company or unless otherwise set forth in the applicable Terms
Agreement, the Agents are not authorized to appoint subagents or to engage the
services of any other broker or dealer or reallow any portion of the commission
paid to such Agent.
(c) Unless otherwise agreed to by the Purchasing Agent, each Agent shall
purchase from the Purchasing Agent as principal for resale to the public such
aggregate principal amount of Notes with respect to which it has communicated
offers to purchase to the Purchasing Agent (the "Commitment Amount"). The
agreement of each Agent to purchase Notes from the Purchasing Agent shall be
deemed to be made on the basis of the representations, warranties and agreements
of the Company herein contained and shall be subject to the terms and conditions
herein set forth. Each Agent agrees to deliver to the Purchasing Agent on the
Settlement Date (or on such later date as may be specified by the Purchasing
Agent) and at the place specified by the Purchasing Agent immediately available
funds, payable to the order of the Purchasing Agent, for (i) an amount equal to
the Offering Price, less the applicable commission in respect of such Agent's
Commitment Amount or (ii) such other amount as the Purchasing Agent shall advise
such Agent. The Purchasing Agent will make payment to the Company against
delivery to the Purchasing Agent for each Agent's account of the Notes to be
purchased by each Agent, and the Purchasing Agent will deliver to each Agent the
Notes paid for by such Agent. If the Purchasing Agent has determined that
transactions in the Notes are to be settled through the facilities of DTC or
another clearinghouse facility, payment for and delivery of Notes purchased by
each Agent shall be made through such facilities, if such Agent is a member, or,
if such Agent is not a member, settlement shall be made through such Agent's
ordinary correspondent who is a member.
(d) Additional Agents. Notwithstanding paragraphs 2(a), 2(b) or 2(c)
above, the Company may from time to time appoint one or more additional
financial institutions experienced in the distribution of securities as an Agent
under this Agreement, for the duration of this Agreement (subject to Section 7
hereof) or on an issue by issue basis, pursuant to a letter (an "Agent Accession
Confirmation") substantially in the form of Exhibit C to this Agreement;
provided that any such additional party shall have first requested appointment
as such upon the terms and conditions of this Agreement in writing to the
Company pursuant to a letter (an "Agent Accession Letter") substantially in the
form of Exhibit D to this Agreement whereupon it shall, subject to the terms and
conditions of this Agreement, the Agent Accession Letter and the Agent Accession
Confirmation, become a party to this Agreement as an Agent, vested with all the
authority, rights and powers and subject to all the duties and obligations of an
Agent as if originally named as an Agent hereunder. The Company shall promptly
notify the Trustee and the other Agents of any such appointment, but only in the
event that any such additional Agent is appointed for the duration of this
Agreement.
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(e) Each Agent acknowledges and agrees, with respect to communications in
accordance with the Administrative Procedures via https://newissue.i-deal.com,
or such other website as may be from time to time maintained for use in
connection with the Notes (the "Notes Website"), (i) that it is responsible for
maintaining the confidentiality of the log-on and password it uses to access the
Notes Website, (ii) that it is fully responsible for all activities that occur
using its log-on and password, (iii) to notify the Company and the Purchasing
Agent immediately of any unauthorized use of its log-on or password or any other
breach of security and (iv) that it will not use the log-on or password of any
other person at any time.
(f) Each Agent represents that it is a broker-dealer registered under the
Exchange Act.
3. Offering and Sale of Notes. The Purchasing Agent, the other Agents and
the Company agree to perform the respective duties and obligations specifically
provided to be performed by them in the Administrative Procedures, as the case
may be.
4. Agreements. (A) The Company agrees with each of you that:
(a) At any time during an Offering Period or during the time a prospectus
relating to the Notes is required to be delivered under the Act, prior to
amending or supplementing either Registration Statement or the Prospectus, the
Company will furnish the Purchasing Agent and Cleary, Gottlieb, Steen &
Hamilton, counsel to the Agents, with a copy of each proposed amendment or
supplement (other than an amendment or supplement to be made pursuant to
incorporation by reference of a document filed under the Exchange Act, or a
Pricing Supplement or an amendment or supplement relating solely to an offering
of securities other than the Notes). The Company will promptly cause the
Prospectus together with each amendment thereof or supplement thereto to be
mailed or otherwise transmitted to the Commission for filing pursuant to Rule
424(b) by an appropriate method or will promptly cause the Prospectus together
with each amendment thereof or supplement thereto to be filed with the
Commission pursuant to said Rule. If the Prospectus is amended or supplemented
(other than by a Pricing Supplement or an amendment or supplement relating
solely to an offering of securities other than the Notes), each Agent shall be
furnished with such information relating to such filing as it may reasonably
request, and no Agent shall be obligated to solicit offers to purchase Notes so
long as it is not reasonably satisfied that such amendment or supplement
complies in all material respects with the provisions of the Act and the
Exchange Act. At any time during an Offering Period or during the time a
prospectus relating to the Notes is required to be delivered under the Act, the
Company will promptly advise each Agent of (i) the filing of any amendment or
supplement to the Prospectus (other than a Pricing Supplement or an amendment or
supplement relating solely to an offering of securities other than the Notes),
(ii) the filing or effectiveness of any amendment to either Registration
Statement, (iii) the receipt by the Company of comments from the Commission
relating to or requests by the Commission for any amendment of either
Registration Statement or any amendment of or supplement to the Prospectus or
for any additional information, (iv) the issuance by the Commission of any stop
order suspending the effectiveness of either Registration Statement or the
institution or threatening of any proceeding for that purpose and (v) the
receipt by the Company of any notification with respect to the suspension of the
qualification of the Notes for sale in any jurisdiction or the initiation or
threatening of any proceeding for such purpose. The Company will use its
reasonable best
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efforts to prevent the issuance of any such stop order or notice of suspension
of qualification and, if issued, to obtain as soon as possible the withdrawal
thereof. Upon any Agent's request, the Company will within a reasonable time
inform such Agent of the aggregate principal amount of Notes registered under
the Registration Statements that remain unissued.
(b) Within the time during which a prospectus relating to the Notes is
required to be delivered under the Act, the Company will comply with all
requirements imposed upon it by the Act, as now and hereafter amended, and by
the rules and regulations of the Commission thereunder, as from time to time in
force, so far as necessary to permit the continuance of sales of or dealings in
the Notes as contemplated by the provisions hereof and the Prospectus. If during
such period any event occurs as a result of which the Prospectus as then amended
or supplemented would include an untrue statement of a material fact or omit to
state a material fact necessary to make the statements therein, in the light of
the circumstances then existing, not misleading, or if, in the opinion of the
Company, during such period it is necessary to amend or supplement the Second
Registration Statement or the Prospectus to comply with the Act, the Company
will promptly notify each Agent to suspend the solicitation of offers to
purchase the Notes and to cease sales of any Notes and, to the extent required
under the provision in the last sentence of this subsection (b), the Company
will promptly amend or supplement such Registration Statement or the Prospectus
(at the expense of the Company) so as to correct such statement or omission or
effect such compliance. If such amendment or supplement, and any documents,
certificates, opinions and letters furnished to the Agents pursuant to
subsections (j), (k) and (1) of this Section 4(A) in connection with the
preparation and filing of such amendment or supplement, are reasonably
satisfactory in all respects to the Purchasing Agent, in its sole discretion,
upon the filing of such amendment or supplement with the Commission or
effectiveness of an amendment to such Registration Statement, the Agents will
resume solicitation of offers to purchase Notes hereunder. Notwithstanding the
foregoing, the Company shall not be required to comply with the provisions of
subsection (b) of this Section 4(A) during any period from the time any Agent
shall have been notified to suspend the solicitation of offers to purchase the
Notes in its capacity as Agent (whether under this subparagraph (b) or otherwise
under this Agreement) to the time the Company shall determine that solicitation
of offers to purchase the Notes should be resumed; provided that if any Agent
holds any Notes purchased as principal pursuant to a Terms Agreement or from the
Purchasing Agent, the Company shall comply with the provisions of subsection (b)
of this Section 4(B) during the period when a Prospectus is required to be
delivered pursuant to the Act.
(c) The Company will comply, in a timely manner, with all applicable
requirements under the Exchange Act relating to the filing with the Commission
of the Company's reports pursuant to Section 13(a), 13(c) or 15(d) of the
Exchange Act and, if then applicable, of the Company's proxy statements pursuant
to Section 14 of the Exchange Act.
(d) The Company will use its best efforts to qualify the Notes for sale
under the securities laws of such jurisdictions as any Agent reasonably
designates, to maintain such qualifications in effect so long as required for
the distribution of the Notes, except that the Company shall not be required in
connection therewith to qualify to do business in any jurisdiction where it is
not now so qualified or to take any action which would subject it to general or
unlimited service of process in any jurisdiction where it is not now so subject.
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(e) The Company will furnish to each Agent copies of the Registration
Statements and the Prospectus (including all documents incorporated by reference
therein), and all amendments of and supplements to the Registration Statements
or the Prospectus which are filed with the Commission during the period in which
a prospectus relating to the Notes is required to be delivered under the Act
(including all documents filed by an amendment or supplement with the Commission
during such period which are deemed to be incorporated by reference therein), in
each case in such quantities as such Agent may from time to time reasonably
request.
(f) So long as any of the Notes are outstanding, the Company agrees to
furnish to each Agent, upon its reasonable request, as soon as available, all
reports and financial statements filed by or on behalf of the Company with the
Commission or any national securities exchange.
(g) The Company will make generally available to its security holders and
to each Agent as soon as practicable, but in any event not later than 15 months
after the end of the Company's current fiscal quarter, an earnings statement
(which need not be audited) covering a 12-month period beginning after the date
upon which any amendment of or supplement to the Prospectus (other than a
Pricing Supplement or an amendment or supplement relating solely to an offering
of debt securities other than the Notes) is filed pursuant to Rule 424 under the
Act, which shall satisfy the provisions of Section 11(a) of the Act.
(h) The Company shall, whether or not any sale of Notes is consummated or
this Agreement is terminated, pay all expenses incident to the performance of
its obligations under this Agreement and under any Terms Agreement, including,
without limitation, the fees and disbursements of its accountants and counsel,
the cost of printing (or other production) and delivery of the Registration
Statements and the Prospectus, all amendments thereof and supplements thereto,
the Indenture, and all other documents relating to the offering, the cost of
preparing, printing, packaging and delivering the Notes, the fees and
disbursements (including reasonable fees of counsel) incurred in connection with
the qualification of the Notes for sale and determination of eligibility for
investment of the Notes under the securities or Blue Sky laws of such
jurisdictions as any Agent may designate, the fees and disbursements of the
Trustee, the fees of any agency that rates the Notes, the fees and expenses
incurred with respect to any filing with the National Association of Securities
Dealers, Inc. and the reasonable fees and disbursements of Cleary, Gottlieb,
Steen & Hamilton, as counsel for the Agents, or other counsel reasonably
satisfactory to the Purchasing Agent and the Company, and such other expenses,
including, without limitation, advertising expenses as may be agreed upon by the
Purchasing Agent and the Company; provided, however, that with respect to any
purchase of Notes by the Purchasing Agent pursuant to a Terms Agreement, the
fees and disbursements of Cleary, Gottlieb, Steen & Hamilton or other counsel to
the Agents shall not be paid by the Company.
(i) During the term of this Agreement, the Company shall furnish to each
Agent such relevant documents and certificates of officers of the Company
relating to the business, operations and affairs of the Company, the
Registration Statements, the Prospectus, any amendments thereof or supplements
thereto, the Indenture, the Notes, this Agreement, the Administrative
Procedures, any Terms Agreement and the performance by the Company of its
obligations hereunder or thereunder as any Agent may from time to time
reasonably request and
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shall promptly notify each Agent orally, followed by written notice of any
downgrading, or of its receipt of any notice of any intended downgrading, in the
rating accorded any of the Company's securities by Moody's Investors Service,
Inc. or Standard & Poor's Ratings Services or, if one of them no longer rates
the securities of the Company, another "nationally recognized statistical rating
organization", as such term is defined for purposes of Rule 436(g) (2) under the
Act.
(j) Each time either Registration Statement or the Prospectus is amended
or supplemented (other than by filing with the Commission: (i) a Pricing
Supplement, (ii) an amendment or supplement relating solely to an offering of
securities other than the Notes, (iii) a Current Report on Form 8-K (or any
successor item thereto), or (iv) any other amendment or supplement that the
Purchasing Agent reasonably deems immaterial), the Company will deliver or cause
to be delivered forthwith to the Agents a certificate of the Company signed by
the Chairman of the Board, any Vice Chairman or any Vice President and by the
principal financial officer, the principal accounting officer or the Treasurer
of the Company (or another officer or officers acceptable to the Purchasing
Agent), dated the date of the effectiveness of such amendment or the date of
filing with the Commission of such supplement or document, as the case may be,
in form reasonably satisfactory to the Purchasing Agent, to the effect that the
statements contained in the certificate referred to in Section 5(b) (iii) that
was last furnished to the Agents (either pursuant to Section 5(b) (iii) or
pursuant to this Section 4(A)(j)) are true and correct at the time of the
effectiveness of such amendment or the time of filing of such supplement or
document, as the case may be, as though made at and as of such time (except that
such statements shall be deemed to relate to the Registration Statements, as
amended at the time of effectiveness of such amendment, and to the Prospectus,
as amended and supplemented at the date of such certificate) or, in lieu of such
certificate, a certificate of the same tenor as the certificate referred to in
Section 5(b) (iii) but modified, if necessary, to relate to the Registration
Statements, as amended at the time of the effectiveness of such amendment, and
to the Prospectus, as amended and supplemented at the date of such certificate.
(k) Each time either Registration Statement or the Prospectus is amended
or supplemented (other than by filing with the Commission: (i) a Pricing
Supplement, (ii) an amendment or supplement relating solely to an offering of
securities other than the Notes, (iii) a Current Report on Form 8-K (or any
successor item thereto), or (iv) any other amendment or supplement that the
Purchasing Agent reasonably deems immaterial), the Company shall furnish to or
cause to be furnished forthwith to the Agents the written opinion of the General
Counsel or a Deputy General Counsel of the Company or other counsel reasonably
satisfactory to the Purchasing Agent dated the date of the effectiveness of such
amendment or the date of filing with the Commission of such supplement or
document, as the case may be, in form reasonably satisfactory to the Purchasing
Agent, to the effect set forth in Exhibit F hereto. In lieu of such opinion,
counsel last furnishing such an opinion to the Agents may furnish to the Agents
a letter to the effect that the Agents may rely on such last opinion to the same
extent as though it were dated the date of such letter and authorizing reliance
on such last opinion (except that statements in such last opinion will be deemed
to relate to the Registration Statements, as amended at the time of the
effectiveness of such amendment, and to the Prospectus, as amended and
supplemented at the date of such letter).
10
(l) Each time that either Registration Statement or the Prospectus is
amended or supplemented to set forth amended or supplemental financial
information supplemented (other than by filing with the Commission: (i) a
Pricing Supplement, (ii) an amendment or supplement relating solely to an
offering of securities other than the Notes, (iii) a Current Report on Form 8-K
(or any successor item thereto), or (iv) any other amendment or supplement that
the Purchasing Agent reasonably deems immaterial), the Company shall cause each
of KPMG LLP and PricewaterhouseCoopers LLP, its independent certified public
accountants, forthwith to furnish the Agents a letter, dated the date of the
effectiveness of such amendment or the date of filing of such supplement or
document, as the case may be, in form satisfactory to the Purchasing Agent, of
the same tenor as the letter of such independent public accountants referred to
in Section 5(b)(iv) hereof but modified to relate to the Registration Statements
and Prospectus, as amended and supplemented to the date of such letter, with
such changes as may be necessary to reflect changes in the financial statements
and other information derived from the accounting records of the Company;
provided, however, that if either Registration Statement or the Prospectus is
amended or supplemented solely to include or incorporate by reference financial
information with respect to a fiscal quarter, each of KPMG LLP and
PricewaterhouseCoopers LLP may limit the scope of such letter to the unaudited
financial statements included in such amendment or supplement; and provided
further that if either the Registration Statement or the Prospectus is amended
or supplemented at any time after the Company files its Annual Report on Form
10-K for the fiscal year ended December 31, 2003, no such letter from
PricewaterhouseCoopers LLP shall be required to be furnished.
(m) Each acceptance by the Company of an offer for the purchase of Notes
and each sale of Notes to the Purchasing Agent shall be deemed to be an
affirmation that the representations and warranties of the Company contained in
or made pursuant to this Agreement are true and correct in all material respects
at the time of such acceptance or sale, as the case may be, as though made at
and as of such time, and an undertaking that such representations and warranties
will be true and correct in all material respects at the time of delivery to the
Purchasing Agent of the Notes relating to such acceptance, as the case may be,
as though made at and as of such time (and it is understood that such
representations and warranties shall relate to the Registration Statements and
the Prospectus as amended and supplemented to each such time).
(n) Anything to the contrary in this Section 4 notwithstanding, if, at the
time of any required notice, amendment or supplement to the Registration
Statement or the Prospectus, the Company shall have instructed the Agents to
suspend solicitation of offers to purchase the Notes and no Agent then holds any
Notes acquired by it as principal pursuant to a Terms Agreement or from the
Purchasing Agent, the Company shall not be obligated to furnish or cause to be
furnished any notice, certificate, opinion or letter otherwise required until
such time as it shall determine that solicitation of offers to purchase the
Notes should be resumed; and provided, further that, prior to resuming such
solicitation the Agents shall be entitled to receive any such notices,
certificates, opinions or letters not previously furnished, accurate as of the
date of such notice, certificate, opinion or letter.
5. Conditions to the Obligations of the Agents. The obligations of each
Agent under the terms of this Agreement will be subject to the accuracy in all
material respects of the representations and warranties on the part of the
Company herein contained, to the
11
accuracy of the statements of the Company's officers made in each certificate
furnished pursuant to the provisions hereof and to the performance and
observance by the Company of all covenants and agreements herein contained on
its part to be performed and observed (in the case of any Agent's obligations to
solicit offers to purchase Notes, at the time of such solicitation, and, in the
case of any Agent's obligation to purchase Notes, at the time the Company
accepts the offer from the Purchasing Agent to purchase such Notes and at the
time of purchase by the Purchasing Agent) and (in each case) to the following
additional conditions precedent when and as specified:
(a) On the corresponding Settlement Date:
(i) There shall not have occurred any change in or affecting
particularly the business or properties of the Company and its affiliates
from that set forth in the Second Registration Statement, as amended or
supplemented, that, in such Agent's judgment, makes it impracticable to
market the Notes on the terms and in the manner contemplated in the
Prospectus except as disclosed to the Agents in writing by the Company
before the Company accepted the Purchasing Agents' offer to purchase such
Notes.
(ii) There shall not have occurred any (x) suspension or material
limitation of trading in securities generally on the New York Stock
Exchange, or any setting of minimum prices for trading on such exchange,
or any suspension of trading of any securities of the Company on any
exchange (whether U.S. or foreign) or in the over-the-counter market, (y)
declaration of a general moratorium on commercial banking activities in
New York by either federal or New York state authorities or exchange
controls shall have been imposed by the United States or (z) any outbreak
or escalation of major hostilities in which the United States is involved,
any declaration of war by Congress or any other substantial national or
international calamity or emergency that, in the Agent's judgment, is
material and adverse and, in the case of any of the events described in
clauses (x) through (z) above, such event makes it, in such Agent's
judgment, impracticable to market the Notes on the terms and in the manner
contemplated by the Prospectus, as amended or supplemented, except for any
such event occurring before the Company accepted the offer of the
Purchasing Agent to purchase such Notes.
(iii) There shall not have been any downgrading, nor any notice
given of any intended downgrading, in the rating accorded any of the
Company's securities by Moody's Investor Service or Standard & Poor's
Ratings Services or, if one of them no longer rates the securities of the
Company, another "nationally recognized statistical rating organization",
as such term is defined for purposes of Rule 436(g) (2) under the Act,
except as disclosed to the Agents in writing by the Company before the
Company accepted the Purchasing Agent's offer to purchase such Notes.
(b) On the Commencement Date and, if called for by any Terms Agreement, on
the corresponding Settlement Date:
(i) The Company shall have furnished to the Agents the opinion of
the General Counsel or a Deputy General Counsel of the Company (or other
counsel for the
12
Company reasonably acceptable to the Agents) on the Commencement Date,
and, on the Settlement Date will furnish the opinion of the General
Counsel or a Deputy General Counsel of the Company (or other counsel for
the Company reasonably acceptable to the Agents) and, if called for by a
Terms Agreement, the opinion of other counsel, dated the Commencement Date
or the Settlement Date, as the case may be, to the effect set forth in
Exhibit F hereto.
(ii) The Agents shall have received from Cleary, Gottlieb, Steen &
Hamilton, counsel for the Agents (or other counsel reasonably acceptable
to the Purchasing Agent and the Company), an opinion dated the
Commencement Date or the Settlement Date, as the case may be, to the
effect set forth in Exhibit G hereto.
(iii) The Company shall have furnished to the Agents a certificate
of the Company, signed by the Chairman of the Board, any Vice Chairman,
the Treasurer or any Vice President and by the principal financial
officer, the Controller or the principal accounting officer of the Company
(or another officer or officers acceptable to the Agents), dated the
Commencement Date or the Settlement Date, as the case may be, to the
effect that each signatory of such certificate has carefully examined the
Registration Statement, as amended as of the date of such certificate, the
Prospectus, as amended and supplemented as of the date of such
certificate, and this Agreement and that:
(A) the representations and warranties of the Company in this
Agreement are true and correct in all material respects on and as of the
date of such certificate with the same effect as if made on the date of
such certificate and the Company has complied in all material respects
with all the agreements and satisfied in all material respects all the
conditions on its part to be performed or satisfied as a condition to the
obligations of the Agents under this Agreement;
(B) no stop order suspending the effectiveness of either
Registration Statement has been issued and no proceedings for that purpose
have been instituted or, to their knowledge, have been threatened; and
(C) since the date of the most recent financial statements
included in the Prospectus, as amended and supplemented, there has been no
material adverse change in the consolidated financial condition or results
of operations of the Company and its subsidiaries, taken as a whole, which
is not disclosed in the Prospectus, as amended or supplemented.
(iv) Each of PricewaterhouseCoopers LLP and KPMG LLP or another
nationally recognized independent accounting firm shall have furnished to
the Agents a letter or letters, dated the Commencement Date or the
Settlement Date, as the case may be, in form and substance reasonably
satisfactory to the Agents, to the effect set forth in Exhibit H and
Exhibit I hereto; provided, however, that if any Settlement Date occurs
after the Company files its Annual Report on Form 10-K for the fiscal year
ended December 31, 2003, no such letter from PricewaterhouseCoopers LLP
shall be required to be furnished.
13
(v) The Company shall have furnished to the Agents such appropriate
further information, certificates and documents as the Agents may
reasonably request.
6. Indemnification and Contribution. (a) The Company will indemnify and
hold harmless each of you against any losses, claims, damages or liabilities,
joint or several, to which each of you may become subject under the Act or
otherwise, insofar as such losses, claims, damages or liabilities (or actions in
respect thereof) arise out of or are based upon an untrue statement or alleged
untrue statement of a material fact contained in either Registration Statement
when it became effective, the Second Registration Statement or the Prospectus,
or any amendment or supplement thereto, or any related preliminary Prospectus,
or arise out of or are based upon the omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the
statements therein not misleading and will reimburse each of you for any legal
or other expenses reasonably incurred by you in connection with investigating or
defending against such loss, claim damage, liability or action; provided,
however, that (i) the Company shall not be liable in any such case to the extent
that any such loss, claim, damage or liability arises out of or is based upon an
untrue statement or alleged untrue statement or omission or alleged omission
made therein in reliance upon and in conformity with written information
furnished to the Company by or on behalf of any of you specifically for use in
the preparation thereof, and (ii) such indemnity with respect to any preliminary
Prospectus, the Prospectus or any preliminary supplemental prospectus, shall not
inure to the benefit of any of you (or any person controlling you) if the
Company shall have delivered sufficient quantities of the Prospectus, as amended
and supplemented, to you within a reasonable time prior to the earlier of the
delivery of the written confirmation of the sale of such Notes or the delivery
of such Notes to the person asserting such loss, claim, damage, liability or
action for which indemnification is sought, and the Prospectus as so amended and
supplemented (excluding documents incorporated by reference) was not sent or
given to such person by you at or prior to the earlier of the delivery of the
written confirmation of the sale of such Notes or the delivery of such Notes to
such person in any case where such sending or giving of a prospectus is required
by the Act, and the untrue statement or omission of a material fact contained in
such preliminary prospectus, such Prospectus or such preliminary supplemental
prospectus, was corrected in the Prospectus, as so amended and supplemented,
provided to you.
(b) Each Agent will indemnify and hold harmless the Company against any
losses, claims, damages or liabilities to which the Company may become subject,
under the Act or otherwise, insofar as such losses, claims, damages or
liabilities (or actions in respect thereof) arise out of or are based upon an
untrue statement or alleged untrue statement of a material fact contained any
part of either Registration Statement when it became effective, or the Second
Registration Statement or the Prospectus, or any amendment or supplement
thereto, or any related Preliminary Prospectus, or arise out of or are based
upon the omission or alleged omission to state therein a material fact required
to be stated therein or necessary to make the statements therein not misleading,
in each case to the extent, but only to the extent, that such untrue statement
or alleged untrue statement or omission or alleged omission was made therein in
reliance upon and in conformity with written information furnished to the
Company by or on behalf of any Agent specifically for use in the preparation
thereof, and will reimburse the Company for any legal or other expenses
reasonably incurred by the Company in connection with investigating or defending
against any such loss, claim, damage, liability or action.
14
(c) Promptly after receipt by an indemnified party under subsection (a) or
(b) above of notice of the commencement of any action, such indemnified party
shall, if a claim in respect thereof is to be made against the indemnifying
party under such subsection, notify the indemnifying party in writing of the
commencement thereof; but the omission so to notify the indemnifying party shall
not relieve the indemnifying party from any liability which the indemnifying
party may have to any indemnified party otherwise than under such subsection. In
case any such action shall be brought against any indemnified party, and it
shall notify the indemnifying party of the commencement thereof, the
indemnifying party shall be entitled to participate in and, to the extent that
it shall wish, to assume the defense thereof, with counsel satisfactory to such
indemnified party (who shall not, except with the consent of the indemnified
party, be counsel to the indemnified party), and after notice from the
indemnifying party to such indemnified party of its election so to assume the
defense thereof, the indemnifying party shall not be liable to such indemnified
party under such subsection for any legal or other expenses subsequently
incurred by such indemnified party in connection with the defense thereof other
than reasonable costs of investigation.
(d) If the indemnification provided for in this Section 6 is unavailable
or insufficient to hold harmless an indemnified party under subsection (a) or
(b) above, then each indemnifying party shall contribute to the amount paid or
payable by such indemnified party as a result of the losses, claims, damages or
liabilities referred to in subsection (a) or (b) above, (i) in such proportion
as is appropriate to reflect the relative benefits received by the Company on
the one hand and by each of you on the other from the offering of the Notes from
which such losses, claims, damages or liabilities arose, or (ii) if the
allocation provided by clause (i) above is not permitted by applicable law, in
such proportion as is appropriate to reflect not only the relative benefits
referred to in clause (i) above but also the relative fault of the Company on
the one hand and by each of you on the other in connection with the statements
or omissions which resulted in such losses, claims, damages or liabilities, as
well as any other relevant equitable considerations. The relative benefits
received by the Company on the one hand and by each of you on the other shall be
deemed to be in the same proportion as the total net proceeds from the offering
of the Notes from which such losses, claims, damages or liabilities arose
(before deducting expenses) received by the Company bear to the total
commissions received by each of you in connection with such offering. The
relative fault shall be determined by reference to, among other things, whether
the untrue or alleged untrue statement of a material fact or the omission or
alleged omission to state a material fact or the omission or alleged omission to
state a material fact relates to information supplied by the Company or by any
of you and the parties' relative intent, knowledge, access to information and
opportunity to correct or prevent such untrue statement or omission. The Company
and each of you agree that it would not be just and equitable if contributions
pursuant to this subsection (d) were to be determined by pro rata allocation
(even if you were treated as one entity for such purpose) or by any other method
of allocation which does not take account of the equitable considerations
referred to in the first sentence of this subsection (d). The amount paid by an
indemnified party as a result of the losses, claims, damages or liabilities
referred to in the first sentence of this subsection (d) shall be deemed to
include any legal or other expenses reasonably incurred by such indemnified
party in connection with investigating or defending any action or claim (which
shall be limited as provided in subsection (c) above if the indemnifying party
has assumed the defense of any such action in accordance with the provisions
thereof) which is the subject of this subsection (d). Notwithstanding the
provisions of this subsection (d), none of you shall be required to contribute
any amount in
15
excess of the amount by which the total price at which the Notes sold by the
Company from which such losses, claims, damages or liabilities arose pursuant to
offers solicited by you were offered to the public exceeds the amount of any
damages which you have otherwise been required to pay by reason of such untrue
or alleged untrue statement or omission or alleged omission. No person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the Act)
shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. The Agents' obligations in this subsection (d) to
contribute shall be several in such proportion so that each Agent is responsible
for the portion represented by the percentage that the commission received by
such Agent from the offering of the Notes bear to the public offering price of
such Notes, and not joint. Promptly after receipt by an indemnified party under
this subsection (d) of the notice of the commencement of any action against such
party in respect of which a claim for contribution may be made against an
indemnifying party under this subsection (d), such indemnified party shall
notify the indemnifying party in writing of the commencement thereof if the
notice specified in subsection (c) above has not been given with respect to such
action; but the omission so to notify the indemnifying party shall not relieve
it from any liability which it may have to any indemnified party otherwise than
under this subsection (d).
(e) The obligations of the Company under this Section 6 shall be in
addition to any liability which the Company may otherwise have and shall extend,
upon the same terms and conditions, to each person, if any, who controls any of
you within the meaning of the Act or the Exchange Act; and the obligations of
each of you under this Section 6 shall be in addition to any liability which you
may otherwise have and shall extend, upon the same terms and conditions, to each
director of the Company (including any person who, with his or her consent, is
named in a Registration Statement as about to become a director of the Company),
to each officer of the Company who has signed a Registration Statement and to
each person, if any, who controls the Company within the meaning of the Act or
the Exchange Act.
7. Termination. (a) This Agreement will continue in effect until
terminated as provided in this Section 7. This Agreement may be terminated by
either the Company as to any Agent or by any Agent insofar as this Agreement
relates to such Agent by giving written notice of such termination to such Agent
or the Company, as the case may be. The termination of this Agreement shall not
require termination of any agreement by the Purchasing Agent to purchase Notes
as principal, and the termination of any such Agreement shall not require
termination of this Agreement. If this Agreement is terminated, neither party
shall have any liability to the other party hereto, except as provided in the
first sentence of the fourth paragraph of Section 2(a), the last proviso of
Section 4(A)(b), and Sections 4(A)(g), 4(A)(h), 6, 8 and 11, and except that, if
at the time of termination an offer to purchase any of the Notes has been
accepted by the Company but the time of delivery to the purchaser of the Note or
Notes relating thereto has not occurred, the Company's representations and
warranties stated in Section 2 and its obligations under the Administrative
Procedures, and in Sections 2(c), 4(A)(a), 4(A)(b), 4(A)(c), 4(A)(e), 4(A)(i),
4(A)(j), 4(A)(k), 4(A)(1), 4(A)(m), 4(A)(o), 4(A)(q), 4(A)(r) and 5 shall also
remain in full force and effect and not be terminated until the delivery of such
Notes.
8. Representations and Indemnities to Survive. With respect to any Agent's
solicitation of offers to purchase Notes or the Purchasing Agent's obligation to
purchase Notes pursuant to any Terms Agreement or any Agent's commitment to
purchase Notes from the
16
Purchasing Agent, the respective agreements, representations, warranties,
indemnities and other statements of the Company or its officers and of any of
you set forth in or made pursuant to this Agreement will remain in full force
and effect, regardless of any investigation made by or on behalf of you or the
Company or any of the officers, directors or controlling persons referred to in
Section 6 hereof, and will survive delivery of and payment for the Notes for a
period extending to the earlier of (i) three years from the corresponding
Settlement Date for such Notes or (ii) the expiration of any applicable statute
of limitations governing such solicitation or purchase of Notes.
9. Notices. All communications hereunder will be in writing and effective
only on receipt, and, if sent to an Agent, will be delivered or sent by mail or
transmitted by any standard form of telecommunication and confirmed to such
Agent, at the address specified in Schedule I hereto; or, if sent to the
Company, will be delivered or sent by mail or transmitted by any standard form
of telecommunication and confirmed to it at Citigroup Global Markets Holdings
Inc., 388 Greenwich Street, New York, New York 10013, Attention: Treasurer.
10. Successors. This Agreement will inure to the benefit of and be binding
upon the parties hereto and their respective successors and the officers and
directors and controlling persons referred to in Section 6 hereof. Nothing
expressed or implied in this Agreement or any Terms Agreement is intended or
shall be construed to give any person, firm or corporation, other than the
parties hereto and their respective successors and the controlling persons and
officers and directors referred to in Section 6 and their heirs and legal
representatives, any legal or equitable right, remedy or claim under or in
respect of this Agreement or any Terms Agreement or any provision herein or
therein contained. This Agreement and any Terms Agreement and all conditions and
provisions hereof and thereof except to the extent provided for in Section 5
hereof are intended to be for the sole and exclusive benefit of the parties
hereto and their respective successors and said controlling persons and officers
and directors and their heirs and legal representatives, and for the benefit of
no other person, firm or corporation. No purchaser of Notes shall be deemed to
be a successor by reason merely of such purchase. This Agreement and the rights
and obligations of any of you hereunder may not be assigned without the prior
written consent of the Company.
11. Waivers, Etc. Neither any failure nor delay on the part of any party
to exercise any right, remedy, power or privilege under this Agreement (singly
and collectively referred to as a "Right") shall operate as a waiver of such
Right, nor shall any single or partial exercise of any Right preclude any other
or further exercise of any Right, nor shall any waiver of any Right with respect
to any occurrence be construed as a waiver of any Right with respect to any
other occurrence.
12. Applicable Law. This Agreement will be governed by and construed in
accordance with the laws of the State of New York.
17
If the foregoing is in accordance with your understanding of our
agreement, please sign and return to us the enclosed duplicate hereof, whereupon
this letter and your acceptance shall represent a binding agreement between the
Company and you.
Very truly yours,
CITIGROUP GLOBAL MARKETS HOLDINGS INC.
By: /s/ Geoffrey S. Richards
----------------------------------
Name: Geoffrey S. Richards
Title: Vice-President
The foregoing Agreement is
hereby confirmed and accepted
as of the date hereof:
CITIGROUP GLOBAL MARKETS INC.
By: /s/ Jack D. McSpadden, Jr.
--------------------------------------------------------------
Name: Jack D. McSpadden, Jr.
Title: Managing Director
A.G. EDWARDS & SONS, INC.
By: /s/ Marvin D. Anderson
--------------------------------------------------------------
Name: Marvin D. Anderson
Title: Vice President
EDWARD D. JONES & CO., L.P.
By: /s/ Phil Schwab
--------------------------------------------------------------
Name: Phil Schwab
Title: General Principal
18
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
By: /s/ Scott G. Primrose
--------------------------------------------------------------
Name: Scott G. Primrose
Title: Authorized Signatory
MORGAN STANLEY & CO. INCORPORATED
By: /s/ Harold J. Hendershot III
--------------------------------------------------------------
Name: Harold J. Hendershot III
Title: Executive Director
UBS FINANCIAL SERVICES INC.
By: /s/ James LeBlanc
--------------------------------------------------------------
Name: James LeBlanc
Title: Senior Vice President
UBS FINANCIAL SERVICES INC.
By: /s/ Karen Rockey
----------------------------------------------------------------
Name: Karen Rockey
Title: Senior Vice President
WACHOVIA CAPITAL MARKETS, LLC
By: /s/ Keith Mauney
--------------------
Name: Keith Mauney
Title: Managing Director
19
SCHEDULE I
AGENT CONTACT INFORMATION
Citigroup Global Markets Inc.
388 Greenwich Street, 35th Floor
New York, NY 10013
Attention: Cheryl Fratepietro
Telephone: (212) 816-6845
Facsimile: (212) 816-0910
E-Mail: cheryl.fratepietro@citigroup.com
A.G. Edwards & Sons, Inc.
1 North Jefferson Avenue
St. Louis, MO 63103
Attention: Mary Ann Cribbin
Telephone: (314) 955-5000
Facsimile: (314) 955-5989
E-Mail: cribbinma@agedwards.com
Edward D. Jones & Co., L.P.
Corporate Bond Department
12555 Manchester Road
St. Louis, MO 63131
Attention: Karen Liebsch
Telephone: (314) 515-5119
Facsimile: (314) 515-3502
E-Mail: karen.liebsch@edwardjones.com
Merrill Lynch, Pierce, Fenner & Smith Incorporated
4 World Financial Center, Floor 15
New York, NY 10080
Attention: Transaction Management Group
Telephone: (212) 449-7476
Facsimile: (212) 449-2234
E-Mail: scott_primrose@ml.com
Morgan Stanley & Co. Incorporated
1585 Broadway, 2nd Floor
New York, NY 10036
Attention: Manager - Continuously Offered Products
Telephone: (212) 761-1872
Facsimile: (212) 761-0780
E-Mail: hal.hendershot@morganstanley.com
S-1
with a copy to:
Morgan Stanely & Co. Incorporated
1585 Broadway, 29th Floor
New York, NY 10036
Attention: Investment Banking Information Center
Telephone: (212) 761-8385
Facsimile: (212) 761-0260
UBS Financial Services Inc.
800 Harbor Blvd.
Weehawken, NJ 07086-6791
Attention: Corporate Desk
Telephone: (201)352-7150
Facsimile: (201) 352-6900
E-Mail: james.Leblanc@ubs.com
with a copy to:
UBS Financial Services Inc.
800 Harbor Blvd.
Weehawken, NJ 07086-6791
Attention: Karen Rockey
Telephone: (201)352-7796/(212)821-2632
Facsimile: (201) 617-8456
E-Mail: Karen.rockey@ubs.com
Wachovia Capital Markets, LLC
One Wachovia Center, DC-08
301 South College Street
Charlotte, NC 28288-0602
Attention: Jim Bowers
Telephone: (704) 383-7460
Facsimile: (704) 383-9165
E-Mail: james.bowers@wachovia.com
2
SCHEDULE II
SCHEDULE OF COMMISSIONS
The following commissions are payable as a percentage of the non-discounted
public offering price of each note sold through the Purchasing Agent.
Term of Note Commission Rate
- ------------ ---------------
One Year 0.20%
Two Years 0.40%
Three Years 0.60%
Five Years 1.00%
Seven Years 1.25%
Ten Years 1.50%
Fifteen Years 2.00%
Twenty Years 2.50%
Twenty-five Years 2.50%
Thirty Years 2.50%
S-II
EXHIBIT A
CITIGROUP GLOBAL MARKETS HOLDINGS INC.
Retail Medium-Term Notes, Series C Administrative Procedures
September 22, 2003
The Retail Medium-Term Notes, Series C (the "Notes") of Citigroup
Global Markets Holdings Inc. (the "Company") are to be offered on a continuing
basis. Citigroup Global Markets Inc. (the "Purchasing Agent"), A.G. Edwards &
Sons, Inc., Edward D. Jones & Co., L.P., Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Morgan Stanley & Co. Incorporated, UBS Financial Services Inc.,
Wachovia Capital Markets, LLC., each as agents (collectively, the "Agents") have
agreed to solicit purchases of Notes issued in fully registered form. No Agent
will be obligated to purchase Notes for its own account. The Notes are being
sold pursuant to a Global Selling Agency Agreement between the Company and the
agents named therein (including the Agents) dated the date hereof (the "Agency
Agreement") and one or more terms agreement substantially in the form attached
as Exhibit B to the Agency Agreement (each a "Terms Agreement"). The Notes have
been registered with the Securities and Exchange Commission (the "Commission").
Bank One Trust Company, N.A., as successor trustee (the "Trustee"), is the
trustee under the Indenture, dated as of December 1, 1988, as amended from time
to time, under which the Notes will be issued (the "Indenture"). The Notes will
constitute part of the senior debt of the Company and will rank equally with all
other unsecured and unsubordinated debt of the Company.
The Agency Agreement provides that whenever the Company determines from
time to time to sell Notes pursuant to the Agency Agreement, it will enter into
a Terms Agreement relating to such sale between the Company and the Purchasing
Agent, with the Purchasing Agent purchasing such Notes as principal for resale
to other Agents or dealers (the "Selected Dealers") each of whom will purchase
as principal. Each Agent or participating Selected Dealer will then resell the
Notes directly to its customers pursuant to a Master Selected Dealer Agreement
attached as Exhibit J to the Agency Agreement.
Unless otherwise specified in the applicable Pricing Supplement, the
Notes will be issued in book-entry form (each, a "Book-Entry Note") and will be
represented by a fully registered master global note certificate (the "Master
Global Note"). The Master Global Note shall be in a form approved by the Issuer,
the Agents, The Depository Trust Company ("DTC") and the Trustee. Prior to the
issuance of any Notes, the Trustee shall authenticate the Master Global Note and
the DTC Agent (as defined below) will hold it as custodian for DTC. Except under
the limited circumstances described in the Indenture, beneficial owners of
Book-Entry Notes will not be entitled to receive a certificate representing such
Notes.
A-1
The procedures to be followed during, and the specific terms of, the
solicitation of orders by the Agents and the sale as a result thereof by the
Company are explained below. Administrative and record-keeping responsibilities
will be handled for the Company by its Treasury Department. The Company will
advise the Agents and the Trustee in writing of those persons handling
administrative responsibilities with whom the Agent and the Trustee are to
communicate regarding orders to purchase Notes and the details of their
settlement. The term "Trustee" as used in these procedures means the Trustee and
any other agents appointed by the Trustee or the Company.
Administrative procedures and specific terms of the offering are
explained below. Book-Entry Notes will be issued in accordance with the
administrative procedures set forth below, as adjusted in accordance with
changes in DTC's operating requirements. Unless otherwise defined herein, terms
defined in the Indenture, the Agency Agreement, the Notes or the Prospectus
Supplement or the Pricing Supplement relating to the Notes shall be used herein
as therein defined. Notes for which interest is calculated on the basis of a
fixed interest rate are referred to herein as "Fixed Rate Notes". Notes for
which interest is calculated on the basis of a floating interest rate are
referred to herein as "Floating Rate Notes". To the extent the procedures set
forth below conflict with the provisions of the Notes, the Indenture, DTC's
operating requirements or the Agency Agreement, the relevant provisions of the
Notes, the Indenture, DTC's operating requirements and the Agency Agreement
shall control.
Administrative Procedures for Notes
In connection with the qualification of the Book-Entry Notes for
eligibility in the book-entry system maintained by DTC, Citibank, N.A. (the "DTC
Agent") will perform the custodial, document control and administrative
functions described below. Citibank, N.A. will perform such functions in
accordance with its respective obligations under a Bring-Down Letter of
Representations from the Company and Citibank, N.A. to DTC dated as of the date
hereof and a Medium-Term Note Certificate Agreement between Citibank, N.A. and
DTC, dated as of October 31, 1988 and as amended to date, and its obligations as
a participant in DTC, including DTC's Same-Day Funds Settlement system ("SDFS").
Issuance: All Book-Entry Notes will be represented initially by
a single Master Global Note in fully registered form
without coupons. The Master Global Note will be dated
and issued as of the date of its authentication by
the DTC Agent. The Master Global Note will not
represent any Note in certificated form.
Identification Numbers: The Company has arranged with the CUSIP Service
Bureau of Standard & Poor's Ratings Services (the
"CUSIP Service Bureau") for the reservation of a
series of CUSIP numbers which series consists of
approximately 900 CUSIP numbers and relates to the
Book-Entry Notes. The Company has obtained from the
CUSIP Service Bureau a written list of such reserved
CUSIP numbers. The DTC Agent will assign CUSIP
numbers to Book-Entry Notes as described below under
Settlement Procedure "B". DTC will notify the CUSIP
Service Bureau periodically of the CUSIP numbers that
A-2
the DTC Agent has assigned to Book-Entry Notes. The
DTC Agent will notify the Company at any time when
fewer than 100 of the reserved CUSIP numbers remain
unassigned to Book-Entry Notes, and, if it deems
necessary, the Company will reserve additional CUSIP
numbers for assignment to Book-Entry Notes. Upon
obtaining such additional CUSIP numbers, the Company
shall deliver a list of such additional CUSIP numbers
to the DTC Agent, as needed, and to DTC.
Registration: The Master Global Note will be registered in the name
of CEDE & CO., as nominee for DTC, on the securities
register for the Notes (the "Securities Register")
maintained under the Indenture. The beneficial owner
of a Book-Entry Note (or one or more indirect
participants in DTC designated by such owner) will
designate one or more participants in DTC (with
respect to such Book-Entry Note, the "Participants")
to act as agent or agents for such owner in
connection with the book-entry system maintained by
DTC, and DTC will record in book-entry form, in
accordance with instructions provided by such
Participants, a credit balance with respect to such
beneficial owner in such Book-Entry Note in the
account of such Participants. The ownership interest
of such beneficial owner (or such participant) in
such Book-Entry Note will be recorded through the
records of such Participants or through the separate
records of such Participants and one or more indirect
participants in DTC.
Transfers: Transfers of interests in a Book-Entry Note will be
accomplished by book entries made by DTC and, in
turn, by Participants (and in certain cases, one or
more indirect participants in DTC) acting on behalf
of beneficial transferors and transferees of such
Note.
Consolidation and The DTC Agent may deliver to DTC and the CUSIP
Exchanges: Service Bureau at any time a written notice of
consolidation (a copy of which shall be maintained in
the records of the DTC Agent described below)
specifying (i) the CUSIP numbers of two or more
outstanding Book-Entry Notes that have the same Terms
and for which interest has been paid to the same
date, (ii) a date, occurring at least thirty days
after such written notice is delivered and at least
thirty days before the next Interest Payment Date for
such Book-Entry Notes shall be consolidated, and
(iii) a new CUSIP number to be assigned to such
consolidated Book-Entry Notes. Upon receipt of such a
notice, DTC will send to its Participants (including
the DTC Agent) a written reorganization notice to the
effect that such consolidation will occur on such
date. Prior to the specified consolidation date, the
DTC Agent will deliver to the CUSIP Service Bureau a
written notice setting forth such consolidation date
and such new CUSIP number and stating that, as of
such consolidation date, the CUSIP numbers of the
Book-Entry Notes to be consolidated will no longer be
valid. On
A-3
the specified consolidation date, the DTC Agent will
consolidate on its records such Book-Entry Notes as a
single Book-Entry Note bearing the new CUSIP number
and dated the last Interest Payment Date to which
interest has been paid on the underlying Book-Entry
Notes, and the CUSIP numbers of the consolidated
Book-Entry Notes will, in accordance with CUSIP
Service Bureau procedures, be canceled and not
immediately reassigned.
Maturities: Each Note will mature on a date (the "Maturity Date")
nine months or more after the issue date for such
Note. A Floating Rate Note will mature only on an
Interest Payment Date for such Note.
Denominations: The Notes will be issued in principal amounts of
$1,000 or any amount in excess thereof that is an
integral multiple of $1,000.
Notice of Redemption The DTC Agent will give notice to DTC prior to each
Dates: Redemption Date (as specified in the Note) if any at
the time and in the manner set forth in the Letter.
Interest: General. Unless otherwise indicated in the applicable
Pricing Supplement, interest, if any, on each Note
will accrue from the Original Issue Date (or such
other date on which interest otherwise begins to
accrue if different than the Original Issue Date) of
such Note for the first interest period or the last
date to which interest has been paid, if any, for
each subsequent interest period and will be
calculated and paid in the manner and on the Interest
Payment Dates described in the Prospectus (as defined
in the Agency Agreement), as supplemented by the
applicable Pricing Supplement. Each payment of
interest on a Note will include interest accrued to
but excluding the Interest Payment Date; provided
that in the case of Floating Rate Notes that reset
daily or weekly, interest payments will include
interest accrued to but excluding the next preceding
Regular Record Date, except that at stated Maturity,
the interest payable will include interest accrued
to, but excluding, the Maturity Date.
The Regular Record Date with respect to any Interest
Payment Date for a Fixed Rate Note or a Floating Rate
Note shall be the date (whether or not a Business
Day) fifteen calendar days immediately preceding such
Interest Payment Date.
Standard & Poor's Ratings Services will use the
information received in the pending deposit message
described under Settlement Procedure "C" below in
order to include the amount of any interest payable
and certain other information regarding the related
Notes in the appropriate daily bond report published
by Standard & Poor's Ratings Services.
A-4
Unless otherwise specified in the applicable Pricing
Supplement, interest on each Note will be payable
either monthly, quarterly, semiannually or annually
on each Interest Payment Date and at Maturity (or on
the date of redemption or repayment if a Note is
repurchased by the Company prior to maturity pursuant
to mandatory or optional redemption or repayment
provisions of the Survivor's Option). Interest will
be payable to the person in whose name a Note is
registered at the close of business on the Regular
Record Date next preceding each Interest Payment
Date; provided, however, interest payable at
Maturity, on a date of redemption or repayment or in
connection with the exercise of the Survivor's Option
will be payable to the person to whom principal shall
be payable.
Unless otherwise specified in the applicable Pricing
Supplement, the Interest Payment Dates for a Fixed
Rate Note that provides for monthly interest payments
shall be the fifteenth day of each calendar month,
commencing in the calendar month that next succeeds
the month in which the Note is issued. In the case of
a Fixed Rate Note that provides for quarterly
interest payments, the Interest Payment Dates shall
be the fifteenth day of each third month, commencing
in the third succeeding calendar month following the
month in which the Note is issued. In the case of a
Fixed Rate Note that provides for semi-annual
interest payments, the Interest Payment dates shall
be the fifteenth day of each sixth month, commencing
in the sixth succeeding calendar month following the
month in which the Note is issued. In the case of a
Fixed Rate Note that provides for annual interest
payments, the Interest Payment Date shall be the
fifteenth day of every twelfth month, commencing in
the twelfth succeeding calendar month following the
month in which the Note is issued.
The Interest Payment Dates for a Floating Rate Note
will be the dates specified in the applicable Pricing
Supplement.
The interest rates the Company will agree to pay on
newly-issued Notes are subject to change without
notice by the Company from time to time, but no such
change will affect any Notes already issued or as to
which an offer to purchase has been accepted by the
Company.
Business Day: "Business Day" means, unless otherwise specified in
the applicable Pricing Supplement, any weekday that
is (1) not a legal holiday in New York, New York and
(2) not a day on which banking institutions in New
York, New York are authorized or required by law or
regulation to be closed.
A-5
Payments of Principal Payment of Interest Only. Promptly after each Regular
and Interest: Record Date, the DTC Agent will deliver to the
Company and DTC a written notice setting forth, by
CUSIP number, the amount of interest to be paid on
each Book-Entry Note on the following Interest
Payment Date (other than an Interest Payment Date
coinciding with Maturity) and the total of such
amounts. DTC will confirm the amount payable on each
Book-Entry Note on such Interest Payment Date by
reference to the appropriate daily bond reports
published by Standard & Poor's Ratings Services. The
Company will pay to the DTC Agent the total amount of
interest due on such Interest Payment Date (other
than at Maturity), and the DTC Agent will pay such
amount to DTC, at the times and in the manner set
forth below under "Manner of Payment". If any
Interest Payment Date for a Book-Entry Note is not a
Business Day, the payment due on such day shall be
made on the next succeeding Business Day and no
interest shall accrue as a result of such delayed
payment.
Payments at Maturity or Upon Redemption. On or about
the first Business Day of each month, the DTC Agent
will deliver to the Company, DTC and the DTC Agent a
written list of principal and interest to be paid on
each Book-Entry Note maturing either on a Maturity
Date or on a Redemption Date in the following month.
The DTC Agent, the Company and DTC will confirm the
amounts of such principal and interest payments with
respect to each Book-Entry Note on or about the fifth
Business Day preceding the Maturity Date or
Redemption Date of such Book-Entry Note. On or before
such Maturity or Redemption, the Company will pay to
the DTC Agent the principal amount of such Book-Entry
Note, together with interest due on such Maturity
Date. The DTC Agent will pay such amount to DTC at
the times and in the manner set forth below under
"Manner of Payment". If any Maturity of a Book-Entry
Note is not a Business Day, the payment due on such
day shall be made on the next succeeding Business Day
and no interest shall accrue on such payment for the
period from and after such Maturity Date or
Redemption Date. Promptly after payment to DTC of the
principal and interest due on a Maturity Date or on a
Redemption Date of such Book-Entry Note, the DTC
Agent will cancel such Book-Entry Note in accordance
with the provisions of the Indenture and record an
appropriate debit advice on the Master Global Note.
Manner of Payment. The total amount of any principal
and interest due on Book-Entry Notes on any Interest
Payment Date or at Maturity or upon redemption shall
be paid by the Company to the DTC Agent in
immediately available funds no later than 9:30 A.M.
(New York City time) on such date. The Company will
make such payment on such Book-Entry Notes by
instructing the DTC Agent to withdraw funds from an
account maintained by the Company with the
A-6
DTC Agent. The Company will confirm any such
instructions in writing to such DTC Agent. Prior to
10:00 A.M. (New York City time) on the Maturity Date
or as soon as possible thereafter, such DTC Agent
will pay by separate wire transfer (using Fedwire
message entry instructions in a form previously
specified by DTC) to an account at the Federal
Reserve Bank of New York previously specified by DTC,
in funds available for immediate use by DTC, each
payment of principal (together with interest thereon)
due on a Book-Entry Note on such Maturity Date or
Redemption Date. On each Interest Payment Date (other
than at Maturity), interest payments shall be made to
DTC, in same day funds, in accordance with existing
arrangements between the DTC Agent and DTC. On each
such date, DTC will pay, in accordance with its SDFS
operating procedures then in effect, such amounts in
funds available for immediate use to the respective
Participants in whose names the Book-Entry Notes are
recorded in the book-entry system maintained by DTC.
Neither the Company nor the DTC Agent shall have any
direct responsibility or liability for the payment by
DTC to such Participants of the principal of and
interest on the Book-Entry Notes.
Withholding Taxes. The amount of any taxes required
under applicable law to be withheld from any interest
payment on a Book-Entry Note will be determined and
withheld by the Participant, indirect participant in
DTC or other Person responsible for forwarding
payments and materials directly to the beneficial
owner of such Note.
Procedures upon Company Company Notice to DTC Agent regarding Company's
Notice regarding Exercise of Optional Redemption. At least 60 days
Company's Exercise of prior to the date on which it intends to redeem any
Optional Redemption: Book-Entry Note, the Company will notify the DTC
Agent (with a copy to the Trustee) that it is
exercising such option with respect to such
Book-Entry Note on such date.
DTC Agent Notice to DTC regarding Company's Exercise
of Optional Redemption. After receipt of notice that
the Company is exercising its option to redeem any
Book-Entry Note, the DTC Agent will, at least 30 days
before the redemption date for such Book-Entry Note,
hand deliver to DTC a notice identifying such
Book-Entry Note by CUSIP number and informing DTC of
the Company's exercise of such option with respect to
such Book-Entry Note.
Deposit of Redemption Price. On or before any
redemption date, the Company shall deposit with the
DTC Agent an amount of money sufficient to pay the
redemption price, plus interest accrued to such
redemption date, for all the Book-Entry Notes or
portions thereof which are to be repaid on such
redemption date. The DTC Agent will use such money to
repay such Book-Entry Notes pursuant to the
A-7
terms set forth in such Notes.
Payments of Principal DTC Agent Notice to Company of Option to be Repaid.
and Interest Upon Upon receipt of notice of exercise of the option for
Exercise of Optional repayment, the DTC Agent shall give notice to the
Repayment: Company (with a copy of such notice to the Trustee)
not less than 20 days prior to each Optional
Repayment Date of such Optional Repayment Date and of
the principal amount of Book-Entry Notes to be repaid
on such Optional Repayment Date.
Deposit of Repayment Price. On or prior to any
Optional Repayment Date, the Company shall deposit
with the DTC Agent an amount of money sufficient to
pay the optional repayment price, and accrued
interest thereon to such date, of all the Book-Entry
Notes or portions thereof which are to be repaid on
such date. The DTC Agent will use such money to repay
such Book-Entry Notes pursuant to the terms set forth
in such Notes.
Procedure for Rate The Company and the Purchasing Agent will discuss
Setting and Posting: from time to time the aggregate principal amount of,
the issuance price of, and the interest rates to be
borne by, Notes that may be sold as a result of the
solicitation of orders by the Agents. If the Company
decides to set prices of, and rates borne by, any
Book-Entry Notes in respect of which the Agents are
to solicit orders to purchase (the setting of such
prices and rates to be referred to herein as
"Posting") or if the Company decides to change prices
or rates previously posted by it, it will promptly
advise the Agents of the prices and rates to be
posted.
The DTC Agent will assign a separate CUSIP number for
each tranche of Notes to be posted, and will so
advise and notify the Company, the Trustee and the
Purchasing Agent of said assignment by telephone
and/or by telecopier or by other electronic
transmission. The Purchasing Agent will include the
assigned CUSIP number on all Posting notices
communicated to the Agents and Selected Dealers.
Offering of Notes: In the event that there is a Posting, the Purchasing
Agent will communicate to each of the Agents and
Selected Dealers the relevant terms of, including the
Maturities of and the interest rates to be borne by,
each tranche of Notes that is the subject of the
Posting. Thereafter, the Purchasing Agent, along with
the other Agents and Selected Dealers, will solicit
offers to purchase the Note accordingly.
Purchase of Notes by the The Purchasing Agent will no later than 12:00 noon
Purchasing Agent: (New York City time) on the seventh day subsequent to
the day on which such Posting occurs, or if such
seventh day is not a Business Day on the preceding
Business Day, or on such other Business Day and time
as shall be mutually agreed upon by the Company and
the Agents (any such day, a "Trade Day"), (i)
complete, execute and deliver to the Company a
A-8
Terms Agreement that sets forth, among other things,
the amount of each tranche that the Purchasing Agent
is offering to purchase or (ii) inform the Company
that none of the Notes of a particular tranche will
be purchased by the Purchasing Agent.
Acceptance and Unless otherwise instructed by the Company, the
Rejection of Orders: Purchasing Agent will advise the Company promptly by
telephone or by other electronic transmission of all
orders to purchase Notes received by each Agent,
other than those rejected by it in whole or in part
in the reasonable exercise of its discretion. Unless
otherwise agreed by the Company and the Agents, the
Company has the sole right to accept orders to
purchase Notes and may reject any such orders in
whole or in part.
Upon receipt of a completed and executed Terms
Agreement from the Purchasing Agent, the Company will
(i) promptly execute and return such Terms Agreement
to the Purchasing Agent or (ii) inform the Purchasing
Agent that its offer to purchase the Notes of a
particular tranche has been rejected, in whole or in
part. The Purchasing Agent will thereafter promptly
inform the other Agents and participating Selected
Dealers of the action taken by the Company.
Preparation of Pricing If any order to purchase a Book-Entry Note is
Supplement: accepted by or on behalf of the Company, the Company
will prepare a pricing supplement (substantially in
the form attached to the Agency Agreement as Exhibit
E, each a "Pricing Supplement") reflecting the terms
of such Book-Entry Note, will file such Pricing
Supplement with the Commission in accordance with the
applicable paragraph of Rule 424(b) under the Act,
will deliver such number of copies thereof to the
Agent as the Agent shall request and will, on the
Agent's behalf, file such Pricing Supplement with the
National Association of Securities Dealers, Inc. (the
"NASD"). The Company shall use its reasonable best
efforts to send such Pricing Supplement by email or
facsimile to the Purchasing Agent and the Trustee by
3:00 P.M. (New York City Time) on the applicable
Trade Date. The Purchasing Agent shall use its
reasonable best efforts to send such Pricing
Supplement and the Prospectus by email or telecopy or
overnight express (for delivery by the close of
business on the applicable Trade Date) to each Agent
(or Selected Dealer) which made or presented the
offer to purchase the applicable Note and the Trustee
at the following applicable address:
If to A.G. Edwards & Sons, Inc., to:
-----------------------------------
1 North Jefferson Avenue
St. Louis, MO 63103
Attention: Mary Ann Cribbin
A-9
Telephone: (314)955-5000
Facsimile: (314) 955-5989
E-Mail: cribbinma@agedwards.com
If to Edward D. Jones & Co., L.P., to:
-------------------------------------
Corporate Board Department
12555 Manchester Road
St. Louis, MO 63131
Attention: Karen Liebsch
Telephone: (314) 515-5119
Facsimile: (314) 515-3502
E-Mail: karen.liebsch@edwardjones.com
If to Merrill Lynch, Pierce, Fenner & Smith Incorporated, to:
------------------------------------------------------------
Merrill Lynch & Co.
Merrill Lynch Production Technologies
4 Corporate Place
Piscataway, NJ 08854
Attention: Diane Walker
Telephone: (732) 878-6536
Facsimile: (732) 878-6481
E-Mail: mtnsuppl@na2.us.ml.com
If to Morgan Stanley & Co. Incorporated, to:
-------------------------------------------
1585 Broadway, 2nd Floor
New York, NY 10036
Attention: Medium-Term Note Trading Desk
Telephone: (212) 761-1322
Facsimile: (212) 761-8846
E-Mail: greg.hamwi@morganstanley.com
If to UBS Financial Services Inc., to:
-------------------------------------
800 Harbor Blvd.
Weehawken, NJ 07086-6791
Attention: Corporate Desk
Telephone: (201)352-7150
Facsimile: (201) 352-6900
E-Mail: james.leblanc@ubs.com
If to Wachovia Capital Markets, LLC, to:
---------------------------------------
One Wachovia Center, DC-08
301 South College Street
Charlotte, NC 28288-0602
Attention: Jim Bowers
A-10
Telephone: (704) 383-7460
Facsimile: (704) 383-9165
E-Mail: james.bowers@wachovia.com
If to the Trustee, to:
---------------------
Bank One Trust Company, N.A.
Corporate Trust Services
153 West 51st Street, 5th Floor
New York, NY 10019
Attention: Mary Fonti
Telephone: (212) 373-1105
Facsimile: (212) 373-1383
E-Mail: mary_fonti@bankone.com
Each such Agent (or Selected Dealer), in turn,
pursuant to the terms of the Agency Agreement and the
Master Selected Dealer Agreement will cause to be
delivered a copy of the Prospectus and the applicable
Pricing Supplement to each purchaser of Notes from
such Agent or Selected Dealer.
In each instance that a Pricing Supplement is
prepared, the Agent will affix the Pricing Supplement
to the Prospectuses prior to their use. Outdated
Pricing Supplements and the Prospectuses to which
they are attached (other than those retained for
files), will be destroyed.
Suspension of Subject to the Company's representations, warranties
Solicitation; Amendment and covenants contained in the Agency Agreement, the
or Supplement: Company may instruct the Agents to suspend at any
time, for any period of time or permanently, the
solicitation of orders to purchase Notes. Upon
receipt of such instructions, each Agent will
forthwith suspend solicitation until such time as the
Company has advised it that such solicitation may be
resumed.
In the event that at the time the Company suspends
solicitation of purchases there shall be any orders
outstanding for settlement, the Company will promptly
advise the Agents, the Trustee and the DTC Agent
whether such orders may be settled and whether copies
of the Prospectus as in effect at the time of the
suspension, together with the appropriate Pricing
Supplement, may be delivered in connection with the
settlement of such orders. The Company will have the
sole responsibility for such decision and for any
arrangements that may be made in the event that the
Company determines that such orders may not be
settled or that copies of such Prospectus may not be
so delivered.
A-11
Delivery of Prospectus: A copy of the Prospectus and a Pricing Supplement
relating to a Note must accompany or precede the
earliest of any written offer of such Note,
confirmation of the purchase of such Note and payment
for such Note by its purchaser. If notice of a change
in the terms of the Notes is received by an Agent or
Selected Dealer between the time an order for a Note
is placed and the time written confirmation thereof
is sent by the Agent or Selected Dealer to a customer
or his agent, such confirmation shall be accompanied
by a Prospectus and Pricing Supplement setting forth
the terms in effect when the order was placed. Each
Agent or Selected Dealer will deliver a Prospectus
and Pricing Supplement as herein described with
respect to each Note sold by it. The Company will
make such delivery if such Note is sold directly by
the Company to a purchaser (other than an Agent or
Selected Dealer).
Confirmation: For each order to purchase a Note solicited by an
Agent and accepted by or on behalf of the Company,
the Purchasing Agent will issue a confirmation, which
confirmation may be delivered by facsimile or other
electronic transmission, to each Agent or Selected
Dealer, with a copy to the Company, setting forth the
details set forth above and delivery and payment
instructions.
In addition, the Purchasing Agent, other Agent or
Selected Dealer, as the case may be, will deliver to
investors purchasing the Notes the Prospectus
(including the Pricing Supplement) in relation to
such Notes prior to or simultaneously with delivery
of the confirmation of sale or delivery of the Notes.
Settlement: The receipt by the Company of immediately available
funds in payment for a Note and the entry by the DTC
Agent of an SDFS deliver order through DTC's
Participant Terminal System to credit such Note to
the account of a Participant purchasing, or acting
for the purchaser of such Note, shall constitute
"settlement" with respect to such Note, and the date
of such settlement, the "Settlement Date." All orders
accepted by the Company will be settled on the third
Business Day next succeeding the date of acceptance
pursuant to the timetable for settlement set forth
below, unless the Company and the Purchasing Agent
agree to settlement on another day which shall be no
earlier than the Business Day succeeding the date of
sale. In all cases, the Company will notify the
Trustee and the DTC Agent on the date issuance
instructions are given.
Settlement Procedures: Unless otherwise specified in the applicable Terms
Agreement, Settlement Procedures with regard to each
Book-Entry Note sold by the Company through the
Agents shall be as follows:
A. After the acceptance of an offer by the
Company with respect
A-12
to a Note, the Purchasing Agent will
communicate the following details of the
terms of such offer (the "Note Sale
Information") to the Company by telephone
(confirmed in writing) or by facsimile
transmission or other electronic
transmission:
1. Principal amount of the purchase.
2. Stated Maturity.
3. In the case of a Fixed Rate Note,
the interest rate and redemption
and repayment provisions (if any)
or, in the case of a Floating Rate
Note, the Base Rate, Initial
Interest Rate (if known at such
time), Interest Reset Period,
Interest Reset Dates, Spread and/or
Spread Multiplier (if any), Minimum
Interest Rate (if any), Maximum
Interest Rate (if any) and
redemption and repayment provisions
(if any).
4. Interest Payment Dates and the
Interest Payment Period.
5. Settlement Date and Issue Date, if
different.
6. Trade Date.
7. Purchasing Agent's commission,
determined as provided in the
Agency Agreement.
8. Net proceeds to the Company.
9. Price to Public.
10. If a Note is redeemable by the
Company or repayable by the
Noteholder, such of the following
as are applicable:
(i) The date on and after which such
Note may be redeemed/repaid (the
"Redemption/ Repayment Commencement
Date"),
(ii) Initial redemption/repayment price
(% of par), and
(iii) Amount (% of par) that the initial
redemption/repayment price shall
decline (but not below par) on each
anniversary of the
Redemption/Repayment Commencement
A-13
Date.
11. Whether the Note has a Survivor's
Option.
12. Whether the Note is an OID Note
and, if so, the total amount of
OID, the yield to maturity and the
initial accrual period OID.
13. DTC Participant Number of the
institution through which the
customer will hold the beneficial
interest in the Book-Entry Note.
14. Any other terms necessary to
describe the Book-Entry Note.
B. The Company will advise the DTC Agent and
the Purchasing Agent by telephone (confirmed
in writing at any time on the same date),
written telecommunication or other
electronic transmission of the information
set forth in Settlement Procedure "A" above.
Each such communication by the Company shall
constitute a representation and warranty by
the Company to the DTC Agent, the Trustee
and the Agents that (i) such Note is then,
and at the time of issuance and sale thereof
will be, duly authorized for issuance and
sale by the Company; (ii) such Note will
conform with the terms of the Indenture for
such Note; and (iii) upon issuance of such
Book-Entry Note, the aggregate principal
amount of all Notes issued under the
Indenture will not exceed the aggregate
principal amount of Notes authorized for
issuance at such time by the Company. The
DTC Agent will then assign a CUSIP number to
the Book-Entry Note and notify the
Purchasing Agent and the Company by
telephone (confirmed in writing at any time
on the same date), written telecommunication
or other electronic transmission of such
CUSIP number as soon as practicable.
C. The DTC Agent will enter a pending deposit
message through DTC's Participant Terminal
System providing the following settlement
information to DTC, Standard & Poor's
Ratings Services, Interactive Data
Corporation, the Agents and, upon request,
the Trustee:
1. The information set forth in
Settlement Procedure "A".
2. Identification as a Fixed Rate Note or a
Floating Rate Note.
A-14
3. The Initial Interest Payment Date
for such Note, number of days by
which such date succeeds the
related Regular Record Date and the
amount of interest payable on such
Initial Interest Payment Date.
4. The Interest Payment Period.
5. The CUSIP number of the Book-Entry
Note representing such Notes.
6. The participant account numbers
maintained by DTC on behalf of the
Trustee and the Purchasing Agent.
7. Whether such Book-Entry Note will
represent any other Notes (to the
extent known at such time).
D. The DTC Agent will complete the Master
Global Note as it relates to such Note by
filing the applicable Pricing Supplement
relating to such Note in the records
maintained by it, which records, taken with
the Master Global Note, shall evidence such
Note.
E. DTC will credit such Note to the DTC Agent's
participant account at DTC.
F. The DTC Agent will enter an SDFS deliver
order through DTC's Participant Terminal
System instructing DTC to (i) debit such
Note to the DTC Agent's participant account
and credit such Note to the Purchasing
Agent's participant account and (ii) debit
the Purchasing Agent's settlement account
and credit the DTC Agent's settlement
account for an amount equal to the price of
such Note less the Purchasing Agent's
commission. The entry of such a deliver
order shall constitute a representation and
warranty by the DTC Agent to DTC that (i)
the Master Global Note representing such
Note has been issued and authenticated and
(ii) the DTC Agent is holding such Master
Global Note pursuant to the Medium Term Note
Certificate Agreement between the DTC Agent
and DTC.
G. The Purchasing Agent will enter an SDFS
deliver order through DTC's Participant
Terminal System instructing DTC (i) to debit
such Note to the Purchasing Agent's
participant account and credit such Note to
the participant accounts of the Agents with
respect to such Note and (ii) to debit the
settlement accounts of such Agents and
credit the settlement account of the
Purchasing Agent for an amount equal to the
A-15
price of such Note.
H. Transfers of funds in accordance with SDFS
deliver orders described in Settlement
Procedures "F" and "G" will be settled in
accordance with SDFS operating procedures in
effect on the Settlement Date.
I. The DTC Agent will, upon receipt of funds
from the Purchasing Agent in accordance with
Settlement Procedure "F", credit to an
account of the Company maintained at the DTC
Agent funds available for immediate use in
the amount transferred to the DTC Agent in
accordance with Settlement Procedure "F".
J. Each Agent and participating Selected Dealer
will confirm the purchase of such Note to
the purchaser either by transmitting to the
Participants with respect to such Note a
confirmation order or orders through DTC's
institutional delivery system or by mailing
a written confirmation to such purchaser. In
all cases, the Prospectus as most recently
amended or supplemented must accompany or
precede such confirmation.
K. Monthly, the DTC Agent will send to the
Company a statement setting forth the
principal amount of Registered Notes
outstanding as of the date of such statement
and setting forth a brief description of any
sales of which the Company has advised the
DTC Agent but which have not yet been
settled.
Settlement Procedures For sales by the Company of Notes solicited by the
Timetable: Agents and accepted by the Company for settlement,
Settlement Procedures "A" through "K" set forth above
shall be completed as soon as possible but not later
than the respective times (New York City time) set
forth below:
A-16
Settlement
Procedure Time
--------- ---------------------------
A 4:00 P.M. on the trade date
B 5:00 P.M. on the trade date
C 2:00 P.M. on the day before settlement
D 9:00 A.M. on settlement date
E 10:00 A.M. on settlement date
F-G 2:00 P.M. on settlement date
H 4:45 P.M. on settlement date
I-J 5:00 P.M. on settlement date
K Monthly or at the request of the Company
Settlement Procedure "H" is subject to extension in
accordance with any extension of Fedwire closing
deadlines and in the other events specified in SDFS
operating procedures in effect on the settlement
date.
If settlement of a Book-Entry Note is rescheduled or
canceled, the DTC Agent, after receiving notice from
the Company or the Purchasing Agent, will deliver to
DTC, through DTC's Participant Terminal System, a
cancellation message to such effect by no later than
2:00 P.M. on the Business Day immediately preceding
the scheduled settlement date.
Failure to Settle: If settlement of a Book-Entry Note is rescheduled and
the DTC Agent for such Note has not entered an SDFS
deliver order with respect to a Note pursuant to
Settlement Procedure "F", after receiving notice from
the Company or the Purchasing Agent, the DTC Agent
shall deliver to DTC, through DTC's Participant
Terminal System, as soon as practicable, a withdrawal
message instructing DTC to debit such Book-Entry Note
to such DTC Agent's participant account. DTC will
process the withdrawal message, provided that the DTC
Agent's participant account contains a principal
amount of Notes that are at least equal to the
principal amount to be debited. If a withdrawal
message is processed with respect to the Notes
represented by a Book-Entry Note, the DTC Agent will
mark the Pricing Supplement in its records relating
to such Book-Entry Note "cancelled", make appropriate
entries in the DTC Agent's records and record an
appropriate debit advice on the Master Global Note.
The CUSIP number assigned to such Book-Entry Note
shall, in accordance with CUSIP Service Bureau
procedures, be canceled and not immediately
reassigned.
If the purchase price for any Note is not timely paid
to any relevant Participant with respect to such Note
by the beneficial purchaser
A-17
thereof (or a Person, including an indirect
participant in DTC, acting on behalf of such
purchaser), such Participant and, in turn, the
Presenting Agent may enter SDFS deliver orders
through DTC's Participant Terminal System reversing
the orders entered pursuant to Settlement Procedures
"F" and "G", respectively. Thereafter, the DTC Agent
will deliver the withdrawal message and take the
related actions described in the preceding paragraph.
If such failure shall have occurred for any reason
other than a default by the relevant Agent in the
performance of its obligations hereunder and under
the Agency Agreement, then the Company will reimburse
such Agent for the loss of the use of the funds
during the period when they were credited to the
account of the Company. Notwithstanding the
foregoing, upon any failure to settle with respect to
a Book-Entry Note, DTC may take any actions in
accordance with its SDFS operating procedures then in
effect. In the event of a failure to settle with
respect to one or more, but not all, of the Notes to
have been represented by a Book-Entry Note, the DTC
Agent will provide, in accordance with Settlement
Procedures "D".
Procedure for Rate Each time after a Posting, if a decision has been
Changes: reached to change the interest rates of the Notes
subject to such Posting, the Company will promptly
advise the Purchasing Agent, which will in turn
promptly advise the other Agents; and the Agents will
forthwith suspend solicitation of offers to purchase
Notes at the prior rates. The Purchasing Agent may
telephone the Company with recommendations as to the
changed interest rates.
The DTC Agent Not Nothing herein shall be deemed to require the DTC
to Risk Funds: Agent to risk or expend its own funds in connection
with any payment to the Company, DTC, the Agents or
the purchasers, it being understood by all parties
that payments made by the DTC Agent to the Company,
DTC, the Agents or the purchasers shall be made only
to the extent that funds are provided to the DTC
Agent for such purpose.
Advertising Costs: The Company shall have the sole right to approve the
form and substance of any advertising an Agent may
initiate in connection with such Agent's solicitation
to purchase the Notes. The expense of such
advertising will be solely the responsibility of such
Agent, unless otherwise agreed to by the Company.
A-18
EXHIBIT B
FORM OF TERMS AGREEMENT
Citigroup Global Markets Holdings Inc.
388 Greenwich Street, 38th Floor
New York, NY 10013
Attention: Treasury Capital Markets
Subject in all respects to the terms and conditions contained in the Global
Selling Agency Agreement dated September 22, 2003 (the "Agency Agreement"),
among Citigroup Global Markets Holdings Inc. (the "Company"), Citigroup Global
Markets Inc. (the "Purchasing Agent") and the additional Agents named therein,
the undersigned agrees to purchase the following aggregate principal amount of
the Company's Retail Medium-Term Notes, Series C (the "Notes"):
Principal Amount: $ CUSIP Number:
Purchaser: Citigroup Global Markets Inc. Original Issue Date:
Interest Rate: [ ] Fixed % Stated Maturity:
[ ] Floating (see below)
Reoffering Price: 100% of Principal Amount
Interest Payment Dates: Accrue to Pay: [ ] Yes [ ] No
Interest Reset Period or Interest Reset Dates:
Survivor's Option: [ ] Yes [ ] No
Base Rate: [ ] CD Rate [ ] Commercial Paper Rate [ ] Federal Funds Rate
[ ] LIBOR Telerate
[ ] LIBOR Reuters [ ] Treasury Rate [ ] Treasury Rate Constant Maturity
[ ] Prime Rate
Spread Multiplier: Spread (+/-):
Spread Reset: The Spread or Spread Multiplier may not be changed prior to Stated
Maturity.
Index Maturity:
Maximum Interest Rate: Minimum Interest Rate:
Optional Redemption: [ ] Yes [ ] No
Optional Redemption Dates:
Optional Redemption Prices:
Optional Repayment: [ ] Yes [ ] No
Optional Repayment Dates:
Optional Repayment Prices:
B-1
Discount Note: [ ] Yes [ ] No
Total Amount of OID:
Yield to Maturity:
Settlement Date, Time and Place:
Requirements for delivery, if any, of opinions of counsel, certificates from the
Company or its officers or a letter from the Company's independent public
accountants:
Other terms:
The provisions of the Global Selling Agency Agreement and the related
definitions are incorporated by reference herein and shall be deemed to have the
same force and effect as if set forth in full herein.
Date:
CITIGROUP GLOBAL MARKETS INC.
By:__________________________
Name:
Title:
Accepted:
CITIGROUP GLOBAL MARKETS HOLDINGS INC.
By:_________________________
Name:
Title:
B-2
EXHIBIT C
FORM OF AGENT ACCESSION CONFIRMATION
[date]
To: [Name and address of new Agent]
Re: Citigroup Global Markets Holdings Inc. $5,000,000,000 Series C
Medium-Term Notes Program
Ladies and Gentlemen:
We refer to the Global Selling Agency Agreement dated September 22, 2003 (which
agreement, as amended from time to time, is herein referred to as the "Agency
Agreement") entered into in respect of the above Series C Medium-Term Notes
Program and hereby acknowledge receipt of your Agent Accession Letter to us
dated [date].
In accordance with Section 2(d) of the Agency Agreement we hereby confirm that,
with effect from the date hereof, you shall become a party to, and a Agent
under, the Agency Agreement, vested with all the authority, rights and powers,
and subject to all the duties and obligations of an Agent as if originally named
as such under the Agency Agreement.
Yours faithfully,
CITIGROUP GLOBAL MARKETS HOLDINGS INC.
By:
____________________________________
Name:
Title:
cc: DTC Agent
Trustee
Existing Agents
C-1
EXHIBIT D
FORM OF AGENT ACCESSION LETTER
[date]
To: Citigroup Global Markets Holdings Inc.
388 Greenwich Street
New York, New York 10013
Re: Citigroup Global Markets Holdings Inc. $5,000,000,000 Series C
Medium-Term Notes Program
Ladies and Gentlemen:
We refer to the Global Selling Agency Agreement dated September 22, 2003,
entered into in respect of the above Series C Medium-Term Note Program and made
between Citigroup Global Markets Holdings Inc. (the "Company"), Citigroup Global
Markets Inc. (the "Purchasing Agent") and the other Agents party thereto (which
agreement, as amended from time to time, is herein referred to as the "Agency
Agreement").
We confirm that we are in receipt of the documents referenced below (except to
the extent we have waived delivery of such documents):
- -- a copy of the Agency Agreement;
- -- a copy of all documents referred to in Section 5 of the Agency
Agreement; and
- -- a letter in a form approved by ourselves from each of the legal
advisers referred to in Section 5 of the Agency Agreement addressed to
ourselves and giving us the full benefit of the existing legal opinions
as of the date of such existing legal opinions, and have found them to
our satisfaction.
For the purposes of Section 9 of the Agency Agreement our notice details are as
follows: (insert name, address, telephone, telecopy, telex and attention).
In consideration of the Company appointing us as an Agent under the Agency
Agreement, we hereby undertake, for the benefit of the Company and each of the
other Agents, that we will perform and comply with all the duties and
obligations expressed to be assumed by an Agent under or pursuant to the Agency
Agreement. We also undertake to deliver to The Depository Trust Company of New
York such pricing letters as it may reasonably require from us in connection
with the offer and sale of the Notes.
D-1
This letter is governed by, and shall be construed in accordance with, the laws
of the State of New York.
Yours faithfully,
[Name of new Agent]
By: ________________________________
Name:
Title:
cc: DTC Agent
Trustee
Existing Agents
D-2
EXHIBIT E
FORM OF PRICING SUPPLEMENT
(Fixed Rate Note)
Pricing Supplement No.
Pricing Supplement Dated:
Rule 424(b)(3)
File No. 333-106272
(To Prospectus Supplement Dated September 22, 2003 and Prospectus Dated June 30,
2003)
$5,000,000,000
Citigroup Global Markets Holdings Inc.
Retail Medium-Term Notes, Series C
Due Nine Months or More From Date of Issue
Trade Date:
Original Issue Date:
Lead Agent: Citigroup Global Markets Inc.
Agents:
CUSIP:
Aggregate Principal Amount: $
Price to Public: %
Concession: %
Net Proceeds to Issuer: $
Interest Rate: %
Interest Payment Frequency:
First Interest Payment Date:
Stated Maturity:
Calculation Agent:
Survivor's Option: Yes/No
Product Ranking:
Form of Note: Global/Book-Entry Only
Redemption Information:
Other Terms:
E-1
FORM OF PRICING SUPPLEMENT
(Floating Rate Note)
Pricing Supplement No.
Pricing Supplement Dated:
Rule 424(b)(3)
File No. 333-106272
(To Prospectus Supplement Dated September 22, 2003 and Prospectus Dated June 30,
2003)
$5,000,000,000
Citigroup Global Markets Holdings Inc.
Retail Medium-Term Notes, Series C
Due Nine Months or More From Date of Issue
Trade Date:
Original Issue Date:
Lead Agent: Citigroup Global Markets Inc.
Agents:
CUSIP:
Aggregate Principal Amount: %
Price to Public: %
Concession: $
Net Proceeds to Issuer: $
Stated Maturity:
Authorized Denominations (if other than as set forth in the Prospectus
Supplement):
Form of Note: Global/Book-Entry Only
Interest Payment Dates:
First Interest Payment Date:
Accrue to Pay: Yes/No
Initial Interest Rate:
Base Rate:
Calculation Agent:
Computation of Interest (if other than as set forth in the Prospectus
Supplement):
Interest Rest Dates:
Rate Determination Dates (if other than as set forth in the Prospectus
Supplement):
Index Maturity:
Spread:
Spread Multiplier:
Maximum Interest Rate:
Minimum Interest Rate:
Survivor's Option: Yes/No
E-2
Product Ranking:
Optional Redemption: Yes/No
Optional Redemption Dates:
Redemption Prices:
Redemption:
Optional Repayment: Yes/No
Optional Repayment Dates:
Optional Repayment Prices:
Discount Note: Yes/No
Total Amount of OID:
Bond Yield to Call:
Bond Yield to Maturity:
Yield to Maturity:
Other Terms:
E-3
EXHIBITS F - I
FORMS OF OPINIONS, CERTIFICATES AND COMFORT LETTERS
EXHIBIT J
MASTER SELECTED DEALER AGREEMENT