CITIGROUP CAPITAL XIV FILED PURSUANT TO RULE 433
2,600,000 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]
- --------------------------------------------------------------------------------
Terms and Conditions:
- --------------------------------------------------------------------------------
Issuer: Citigroup Capital XIV, a Delaware
statutory trust, the sole assets of
which are junior subordinated debt
securities issued by Citigroup Inc.
- --------------------------------------------------------------------------------
Guarantee: $25 liquidation amount
per enhanced trust preferred
security, guaranteed by Citigroup
Inc. to the extent set forth in the
Prospectus.
- --------------------------------------------------------------------------------
Ratings: Aa2/A/AA (Moody's / S&P / Fitch)
- --------------------------------------------------------------------------------
Trade Date (over-allotment): July 6, 2006
- --------------------------------------------------------------------------------
Settlement Date (over-allotment): July 13, 2006 (T+5 days)
- --------------------------------------------------------------------------------
Maturity: June 30, 2066
- --------------------------------------------------------------------------------
Amount (over-allotment): 2,600,000 enhanced trust preferred
securities (the "capital
securities"), issued pursuant to
the underwriters' exercise of their
over-allotment option
- --------------------------------------------------------------------------------
Total Amount: 22,600,000 capital securities
- --------------------------------------------------------------------------------
Coupon: 6.875% per annum
- --------------------------------------------------------------------------------
Public Offering Price (over-allotment): $25 per capital security plus
accrued interest from June 30, 2006
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
Purchase Price (over-allotment): $25 per capital security plus
accrued interest from June 30, 2006
- --------------------------------------------------------------------------------
Net Proceeds to Citigroup (over-allotment): $63,000,000 (estimated)
- --------------------------------------------------------------------------------
Total Net Proceeds to Citigroup: $546,750,000 (estimated)
- --------------------------------------------------------------------------------
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.
- --------------------------------------------------------------------------------
First Coupon: September 30, 2006.
- --------------------------------------------------------------------------------
Day Count: 30/360.
- --------------------------------------------------------------------------------
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.
- --------------------------------------------------------------------------------
CITIGROUP CAPITAL XIV FILED PURSUANT TO RULE 433
2,600,000 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]
- --------------------------------------------------------------------------------
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.
- --------------------------------------------------------------------------------
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.
- --------------------------------------------------------------------------------
Sinking Fund: Not applicable.
- --------------------------------------------------------------------------------
Listing: Application has been made to list
the capital securities on the New
York Stock Exchange.
- --------------------------------------------------------------------------------
Number of Capital Securities Purchased
(over-allotment)
----------------
- --------------------------------------------------------------------------------
Sole Structuring Coordinator and
Sole Bookrunner: Citigroup Global Markets Inc. 399,777
- --------------------------------------------------------------------------------
Senior Co-Managers: Merrill Lynch, Pierce, Fenner & 399,750
Smith Incorporated
Morgan Stanley & Co. Incorporated 399,750
UBS Securities LLC 399,750
Wachovia Capital Markets, LLC 399,750
- --------------------------------------------------------------------------------
Junior Co-Managers: Banc of America Securities LLC 65,000
Bear, Stearns & Co. Inc. 65,000
Lehman Brothers Inc. 65,000
RBC Dain Rauscher Inc. 65,000
- --------------------------------------------------------------------------------
Capital Securities CUSIP/ISIN: 17309E200/US17309E2000
- --------------------------------------------------------------------------------
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.