Exhibit 25.02
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM T-1
STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939
OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE
CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY
OF A TRUSTEE PURSUANT TO SECTION 305(b)(2) ___
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THE FIRST NATIONAL BANK OF CHICAGO
(Exact name of trustee as specified in its charter)
A National Banking Association 36-0899825
(I.R.S. employer
identification number)
One First National Plaza, Chicago, Illinois 60670-0126
(Address of principal executive offices) (Zip Code)
The First National Bank of Chicago
One First National Plaza, Suite 0286
Chicago, Illinois 60670-0286
Attn: Lynn A. Goldstein, Law Department (312) 732-6919
(Name, address and telephone number of agent for service)
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Citigroup Inc.
(Exact name of obligor as specified in its charter)
Delaware 52-1568099
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification number)
153 East 53rd Street
New York, NY 10043
(Address of principal executive offices) (Zip Code)
Subordinated Debt Securities
(Title of Indenture Securities)
Item 1. General Information. Furnish the following information as to the
trustee:
(a) Name and address of each examining or supervising authority to
which it is subject.
Comptroller of Currency, Washington, D.C., Federal Deposit Insurance
Corporation, Washington, D.C., The Board of Governors of the Federal
Reserve System, Washington D.C.
(b) Whether it is authorized to exercise corporate trust powers.
The trustee is authorized to exercise corporate trust powers.
Item 2. Affiliations With the Obligor. If the obligor is an affiliate of the
trustee, describe each such affiliation.
No such affiliation exists with the trustee.
Item 16. List of exhibits. List below all exhibits filed as a part of this
Statement of Eligibility.
1. A copy of the articles of association of the trustee now in
effect.*
2. A copy of the certificates of authority of the trustee to
commence business.*
3. A copy of the authorization of the trustee to exercise
corporate trust powers.*
4. A copy of the existing by-laws of the trustee.*
5. Not Applicable.
6. The consent of the trustee required by Section 321(b) of the
Act.
7. A copy of the latest report of condition of the trustee
published pursuant to law or the requirements of its
supervising or examining authority.
8. Not Applicable.
2
9. Not Applicable.
Pursuant to the requirements of the Trust Indenture Act of 1939, as
amended, the trustee, The First National Bank of Chicago, a national
banking association organized and existing under the laws of the
United States of America, has duly caused this Statement of
Eligibility to be signed on its behalf by the undersigned, thereunto
duly authorized, all in the City of Chicago and State of Illinois,
on the 24th day of November, 1998.
The First National Bank of Chicago,
Trustee
By /s/ Sandra L. Caruba
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Sandra L. Caruba
Vice President
* Exhibits 1, 2, 3 and 4 are herein incorporated by reference to Exhibits
bearing identical numbers in Item 16 of the Form T-1 of The First National Bank
of Chicago, filed as Exhibit 25 to the Registration Statement on Form S-3 of U S
WEST Capital Funding, Inc. filed with the Securities and Exchange Commission on
May 6, 1998 (Registration No. 333-51907-01).
3
EXHIBIT 6
THE CONSENT OF THE TRUSTEE REQUIRED
BY SECTION 321(b) OF THE ACT
November 24, 1998
Securities and Exchange Commission
Washington, D.C. 20549
Ladies and Gentlemen:
In connection with the qualification of an indenture between Citigroup Inc. and
The First National Bank of Chicago, the undersigned, in accordance with Section
321(b) of the Trust Indenture Act of 1939, as amended, hereby consents that the
reports of examinations of the undersigned, made by Federal or State authorities
authorized to make such examinations, may be furnished by such authorities to
the Securities and Exchange Commission upon its request therefor.
Very truly yours,
The First National Bank of Chicago
By: /s/ Sandra L. Caruba
------------------------------
Sandra L. Caruba
Vice President
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EXHIBIT 7
Legal Title of Bank: The First National Bank of Chicago Call Date: 06/30/98
ST-BK: 17-1630 FFIEC 031
Address: One First National Plaza, Ste 0460 Page RC-1
City, State Zip: Chicago, IL 60670
FDIC Certificate No.: 0/3/6/1/8
Consolidated Report of Condition for Insured Commercial
and State-Chartered Savings Banks for June 30, 1998
All schedules are to be reported in thousands of dollars. Unless otherwise
indicated, report the amount outstanding of the last business day of the
quarter.
Schedule RC--Balance Sheet
Dollar Amounts in thousands C400
RCFD BIL MIL THOU ----
---- ------------
ASSETS
1. Cash and balances due from depositary institutions (from RCFD
Schedule RC-A): ----
a. Noninterest-bearing balances and currency and coin(1) ......... 0081 4,490,272 1.a
b. Interest-bearing balances(2) .................................. 0071 5,586,990 1.b
2. Securities
a. Held-to-maturity securities (from Schedule RC-B, column
A) ............................................................ 1754 0 2.a
b. Avaialble-for-sale securities (from Schedule RC-B, column
D) ............................................................ 1773 8,974,952 2.b
3. Federal funds sold and securities purchased under agreements to
resell ........................................................... 1350 5,558,583 3.
4. Loans and lease financing receivables: RCFD
----
a. Loans and leases, net of unearned income (from Schedule
RC-C) ......................................................... 2122 28,257,868 4.a
b. LESS: Allowance for loan and lease losses .................... 3123 413,742 4.b
c. LESS: Allocated transfer risk reserve ........................ 3128 0 4.c
RCFD
d. Loans and leases, net of unearned income, allowance, and ----
reserve (item 4.a minuts 4.b and 4.c) ......................... 2125 27,844,126 4.d
5. Trading assets (from Schedule RD-D) .............................. 3545 6,073,169 5.
6. Premises and fixed assets (including capitalized leases) ......... 2145 721,430 6.
7. Other real estate owned (from Schedule RC-M) ..................... 2150 6,827 7.
8. Investments in unconsolidated subsidiaries and associated
companies (from Schedule RC-M) ................................... 2130 184,515 8.
9. Customers' liability to thgis bank on acceptance outstanding ..... 2155 310,026 9.
10. Intangible assets (from Schedule RC-M) ........................... 2143 302,859 10.
11. Other assets (from Schedule RC-F) ................................ 2160 2,137,491 11.
12. Total Assets (sum of items 1 through 11) ......................... 2170 62,191,240 12.
LIABILITIES
13. Deposits: ........................................................ RCON
a. In domestic offices (sum of totals of columns A and C from ----
Schedule RC-E, part 1) ........................................ 2200 21,810,607 13.a
(1) Noninterest-bearing(1) .................................... 6631 9,864,956 13.a1
(2) Interest-bearing .......................................... 6636 11,945,651 13.a2
RCFN
----
b. In foreign offices, Edge and Agreement subsidiaries, and 2200 15,794,963 13.b
1
Dollar Amounts in thousands C400
RCFD BIL MIL THOU ----
---- ------------
IBFs (from Schedule RC-E, part II)
(1) Noninterest bearing ....................................... 6631 482,528 13.b1
(2) Interest-baring ........................................... 6636 15,312,435 13.b2
14. Federal funds purchased and securities sold under agreements RCFD
to repurchase: ................................................... 2800 3,858,711 14
15. a. Demand notes issued to the U.S. Treasury ...................... RCON
2840 1,444,748 15.1
b. Trading Liabilities (from Schedule RC-D) ...................... RCFD
3548 5,661,633 15.b
16. Other borrowed money: ............................................ RCFD
----
a. With original maturity of one year or less .................... 2332 4,356,061 16.a
b. With original maturity of more than one year ................. A547 385,550 16.b
c. With original maturity of more than three years ............... A548 320,386 16.c
17. Not applicable
18. Bank's liability on acceptance executed and outstanding .......... 2920 310,026 18.
19. Subordinated notes and debentures ................................ 3200 2,200,000 19.
20. Other liabilities (from Schedule RC-G) ........................... 2930 1,176,564 20.
21. Total liabilities (sum of items 13 through 20) ................... 2948 57,319,249 21.
22. Not applicable
EQUITY CAPITAL
23. Perpetual preferred stock and related surplus .................... 3838 0 23.
24. Common stock ..................................................... 3230 200,858 24.
25. Surplus (exclude all surplus related to preferred stock) ......... 3839 3,188,187 25.
26. a. Undivided profits and capital reserves ........................ 3632 1,467,324 26.a
b. Net unrealized holding gains (losses) on available-for-
sale securities ............................................... 8434 18,040 26.b
27. Cumulative foreign currency translation adjustments .............. 3284 (2,418) 27.
28. Total equity capital (sum of items 23 through 27) ................ 3210 4,871,991 28.
29. Total liabilities, limited-life preferred stock, and equity
capital (sum of items 21, 22, and 28) ............................ 3300 62,191,240 29.
Memorandum
To be reported only with the March Report of Condition Number RCFD
1. Indicate in the box at the right the number of the statement below
that best describes the most comprehensive level of auditing
work performed for the bank by independent external auditors as
of any date during 1996 6724 M.1.
1 = Independent audit of the bank conducted in accordance with generally
accepted auditing standards by a certified public accounting firm which
submits a report on the bank
2 = Independent audit of the bank's parent holding company con ducted in
accordance with generally accepted auditing standards by a certified
public accounting firm which submits a report on the consolidated holding
company (but not on the bank sepa rately)
3 = Directors' examination of the bank conducted in accordance with
generally accepted auditing standards by a certified public accounting
firm (may be required by state chartering authority)
4. = Directors' examination of the bank performed by other external auditors
(may be required by state chartering authority)
5 = Review of the bank's financial statements by external auditors
6 = Compilation of the bank's financial statements by external auditors
7 = Other audit procedures (excluding tax preparation work)
8 = No external audit work
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(1) Includes total demand deposits and noninterest-bearing time and savings
deposits.
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Exhibit 7 to Form T-1
Bank Call Notice
RESERVE DISTRICT NO. 2
CONSOLIDATED REPORT OF CONDITION OF
The Chase Manhattan Bank
of 270 Park Avenue, New York, New York 10017
and Foreign and Domestic Subsidiaries,
a member of the Federal Reserve System,
at the close of business September 30, 1998, in
accordance with a call made by the Federal Reserve Bank of
this District pursuant to the provisions of the Federal Reserve Act.
Dollar Amounts
ASSETS in Millions
Cash and balances due from depository institutions:
Noninterest-bearing balances and
currency and coin ............................................ $ 11,951
Interest-bearing balances .................................... 4,551
Securities:
Held to maturity securities ..................................... 1,740
Available for sale securities ................................... 48,537
Federal funds sold and securities purchased under
agreements to resell ......................................... 29,730
Loans and lease financing receivables:
Loans and leases, net of unearned income $127,379
Less: Allowance for loan and lease losses 2,719
Less: Allocated transfer risk reserve 0
--------
Loans and leases, net of unearned income,
allowance, and reserve ....................................... 124,660
Trading Assets .................................................. 51,549
Premises and fixed assets (including capitalized
leases) ...................................................... 3,009
Other real estate owned ......................................... 272
Investments in unconsolidated subsidiaries and
associated companies ......................................... 300
Customers' liability to this bank on acceptances
outstanding .................................................. 1,329
Intangible assets ............................................... 1,429
Other assets .................................................... 13,563
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TOTAL ASSETS .................................................... $292,620
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LIABILITIES
Deposits
In domestic offices ........................................... $ 98,760
Noninterest-bearing ............................. $ 39,071
Interest-bearing ................................ 59,689
--------
In foreign offices, Edge and Agreement,
subsidiaries and IBF's ........................................ 75,403
Noninterest-bearing ........................................... $ 3,877
Interest-bearing .............................................. 71,526
Federal funds purchased and securities sold under
agreements to repurchase ......................................... 34,471
Demand notes issued to the U.S. Treasury ......................... 1,000
Trading liabilities .............................................. 41,589
Other borrowed money (includes mortgage indebtedness
and obligations under capitalized leases):
With a remaining maturity of one year or less ................. 3,781
With a remaining maturity of more than one year
through three years ........................................... 213
With a remaining maturity of more than three years ............ 104
Bank's liability on acceptances executed and outstanding ......... 1,329
Subordinated notes and debentures ................................ 5,408
Other liabilities ................................................ 12,041
TOTAL LIABILITIES ................................................ 274,099
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EQUITY CAPITAL
Perpetual preferred stock and related surplus .................... 0
Common stock ..................................................... 1,211
Surplus (exclude all surplus related to preferred stock) ......... 10,441
Undivided profits and capital reserves ........................... 6,287
Net unrealized holding gains (losses)
on available-for-sale securities ................................. 566
Cumulative foreign currency translation adjustments .............. 16
TOTAL EQUITY CAPITAL ............................................. 18,521
------
TOTAL LIABILITIES AND EQUITY CAPITAL ............................. $292,620
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I, Joseph L. Sclafani, E.V.P. & Controller of the above-named bank,
do hereby declare that this Report of Condition has been prepared
in conformance with the instructions issued by the appropriate
Federal regulatory authority and is true to the best of my
knowledge and belief.
JOSEPH L. SCLAFANI
We, the undersigned directors, attest to the correctness of this
Report of Condition and declare that it has been examined by us,
and to the best of our knowledge and belief has been prepared in
conformance with the instructions issued by the appropriate Federal
regulatory authority and is true and correct.
WALTER V. SHIPLEY )
THOMAS G. LABRECQUE ) DIRECTORS
WILLIAM B. HARRISON, JR.)
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