Citigroup Inc.
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Pricing Sheet No. 2015-CMTNG0371 dated February 24, 2015 relating to
Preliminary Pricing Supplement No. 2015–CMTNG0371 dated February 12, 2015
Registration Statement No. 333-192302
Filed Pursuant to Rule 433
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PRICING TERMS—FEBRUARY 24, 2015
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Aggregate stated principal amount:
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$6,500,000
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Stated principal amount:
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$1,000 per note
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Pricing date:
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February 24, 2015
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Issue date:
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February 27, 2015
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Maturity date:
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Unless earlier called by us, February 27, 2035
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Payment at maturity:
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At maturity, unless we have earlier called the notes, you will receive for each note you then hold an amount in cash equal to $1,000 plus any accrued and unpaid interest
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Interest: | § |
During each interest period from and including the issue date to but excluding February 27, 2016, the notes will bear interest at a fixed rate of 10.00% per annum
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§ |
During each interest period from and including February 27, 2016 to but excluding February 27, 2021, the notes will bear interest at a floating rate equal to the leverage factor of 10 times the modified CMS reference index, as determined on the CMS reference determination date for that interest period, subject to a maximum interest rate of 10.00% per annum and a minimum interest rate of 0.00% per annum
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§
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During each interest period from and including February 27, 2021 to but excluding February 27, 2026, the notes will bear interest at a floating rate equal to the leverage factor of 15 times the modified CMS reference index, as determined on the CMS reference determination date for that interest period, subject to a maximum interest rate of 10.00% per annum and a minimum interest rate of 0.00% per annum
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§ |
During each interest period from and including February 27, 2026 to the maturity date, the notes will bear interest at a floating rate equal to the leverage factor of 20 times the modified CMS reference index, as determined on the CMS reference determination date for that interest period, subject to a maximum interest rate of 10.00% per annum and a minimum interest rate of 0.00% per annum
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CMS reference index:
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On any CMS reference determination date, CMS30 minus CMS2, each as determined on that CMS reference determination date
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Modified CMS reference index:
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The CMS reference index minus 0.875%
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CMS reference determination date:
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For any interest period commencing on or after February 27, 2016, the second U.S. government securities business day prior to the first day of that interest period
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Interest period:
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Each three-month period from and including an interest payment date (or the issue date, in the case of the first interest period) to but excluding the next interest payment date
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Interest payment dates:
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The 27th day of each February, May, August and November, beginning on May 27, 2015 and ending on the maturity date or, if applicable, the date when the notes are redeemed
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Day count convention:
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During each interest period, interest will be calculated on the basis of a 360-day year consisting of twelve 30-day months. The amount of each interest payment, if any, will equal (i) the stated principal amount of the notes multiplied by the interest rate in effect during the applicable interest period divided by (ii) 4
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Call right:
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We may call the notes, in whole and not in part, for mandatory redemption on any interest payment date beginning on February 27, 2016, upon not less than five business days’ notice. Following an exercise of our call right, you will receive for each note you then hold an amount in cash equal to $1,000 plus any accrued and unpaid interest.
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Listing:
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The notes will not be listed on any securities exchange
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CUSIP / ISIN:
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1730T04U0 / US1730T04U04
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Underwriter:
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Citigroup Global Markets Inc. (“CGMI”), an affiliate of the issuer, acting as principal
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Underwriting fee and issue price:
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Issue price(1)
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Underwriting fee(2)
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Proceeds to issuer
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Per note:
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$1,000
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$35
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$965
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Total:
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$6,500,000
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$227,500
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$6,272,500
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