CITIGROUP CAPITAL XIV FILED PURSUANT TO RULE 433
20,000,000 CAPITAL SECURITIES FILE NOS. 333-135163,
333-135163-04
6.875% ENHANCED TRUST PREFERRED SECURITIES (ENHANCED TRUPS(R))
$25 LIQUIDATION AMOUNT
GUARANTEED BY CITIGROUP INC. TO THE EXTENT SET FORTH IN THE PROSPECTUS
[CITIGROUP LOGO]
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Terms and Conditions:
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Issuer: Citigroup Capital XIV, a Delaware statutory trust, the
sole assets of which will be junior subordinated debt
securities issued by Citigroup Inc.
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Guarantee: $25 liquidation amount per enhanced trust preferred
security, guaranteed by Citigroup Inc. to the extent set
forth in the Prospectus.
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Ratings: Aa2/A/AA (Moody's / S&P / Fitch)
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Trade Date: June 26, 2006
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Settlement Date: June 30, 2006 (T+4 days)
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Maturity: June 30, 2066
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Amount: 20,000,000 enhanced trust preferred securities (the
"capital securities")
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Coupon: 6.875% per annum
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Public Offering Price: $25 per capital security
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Gross Fee: $0.7875 per capital security (to be paid by Citigroup
Inc.)
Management Fee: $0.1575 per capital security
Underwriting Fee $0.13 per capital security
Sales Concession: $0.50 per capital security
Re-allowance: $0.45 per capital security
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Purchase Price: $25 per capital security
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Net Proceeds to
Citigroup: $483,750,000 (estimated).
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Interest Payment Dates: Quarterly on the 30th of each March, June, September and
December. Modified Following business day convention for
the December interest payment dates, Following business
day convention for all other interest payment dates.
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First Coupon: September 30, 2006.
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Day Count: 30/360.
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Deferral of Interest: Payment of interest on the capital securities will be
deferred to the extent Citigroup Inc. elects to defer
interest on the junior subordinated debt securities held
by the issuer. Citigroup may so defer interest for up to
40 consecutive quarterly interest payment dates.
However, after so deferring interest for 20 consecutive
quarterly interest payment dates, with certain
exceptions, Citigroup is obligated to sell equity
securities and use the proceeds thereof to pay deferred
interest unless the Federal Reserve, after receiving
notice of these actions, has disapproved of either of
these actions.
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Redemption at Issuer
Option: Subject to the Capital Replacement Covenant, Citigroup
may redeem the underlying junior subordinated debt
securities, and thus redeem the capital securities, at
any time on or after June 30, 2011 or upon the
occurrence of a tax event, an investment company event
or a regulatory capital event. Redemption in whole or in
part.
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Capital Replacement
Covenant: Citigroup Inc. has agreed not to redeem the junior
subordinated debt securities during the term of the
Capital Replacement Covenant except with proceeds of the
sale of Citigroup equity securities. The Capital
Replacement Covenant will terminate no later than June
30, 2036.
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CITIGROUP CAPITAL XIV FILED PURSUANT TO RULE 433
20,000,000 CAPITAL SECURITIES FILE NO. 333-135163
6.875% ENHANCED TRUST PREFERRED SECURITIES (ENHANCED TRUPS(R))
$25 LIQUIDATION AMOUNT
GUARANTEED BY CITIGROUP INC. TO THE EXTENT SET FORTH IN THE PROSPECTUS
[CITIGROUP LOGO]
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Sinking Fund: Not applicable.
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Listing: Application will be made to list the capital securities
on the New York Stock Exchange.
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Amount of Capital
Securities Purchased
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Sole Structuring
Coordinator and
Sole Bookrunner: Citigroup Global Markets Inc. 3,075,027
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Senior Co-Managers: Merrill Lynch, Pierce, Fenner & 3,075,000
Smith Incorporated
Morgan Stanley & Co. Incorporated 3,075,000
UBS Securities LLC 3,075,000
Wachovia Capital Markets, LLC 3,075,000
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Junior Co-Managers: Banc of America Securities LLC 500,000
Bear, Stearns & Co. Inc. 500,000
Lehman Brothers Inc. 500,000
RBC Dain Rauscher Inc. 500,000
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Capital Securities
CUSIP/ISIN: 17309E200/US17309E2000
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Citigroup Capital XIV and Citigroup Inc. have filed a registration statement
(including a prospectus) with the Securities and Exchange Commission for the
offering to which this communication relates. Before you invest, you should read
the prospectus in the registration statement and the other documents Citigroup
Capital XIV and Citigroup have filed with the SEC for more complete information
about Citigroup Capital XIV, Citigroup and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. The
file number for the registration statement is No. 333-135163. Alternatively, you
can request the prospectus by calling toll-free in the United States
1-877-858-5407.