Citigroup Inc.
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Pricing Sheet No. 2014—CMTNG0221 dated September 24, 2014 relating to
Preliminary Pricing Supplement No. 2014-CMTNG0221 dated August 29, 2014
Registration Statement No. 333-192302
Filed Pursuant to Rule 433
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PRICING TERMS—SEPTEMBER 24, 2014
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Aggregate stated principal amount:
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$20,000,000
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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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September 24, 2014
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Issue date:
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September 29, 2014
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Maturity date:
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Unless earlier called by us, September 29, 2034
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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:
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§ During each interest period from and including the issue date to but excluding September 29, 2015, the notes will bear interest at a fixed rate of 10.00% per annum
§ During each interest period commencing on or after September 29, 2015, the notes will bear interest at a floating rate equal to 4 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
After the first year of the term of the notes, interest payments will vary based on fluctuations in the modified CMS reference index. After the first year, the notes may pay a below-market rate or no interest at all for an extended period of time, or even throughout the entire remaining term.
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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 0.25%
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CMS reference determination date:
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For any interest period commencing on or after September 29, 2015, 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 29th day of each March, June, September and December, beginning on December 29, 2014 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 September 29, 2015, 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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1730T0X46 / US1730T0X468
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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(2)
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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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$20,000,000
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$700,000
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$19,300,000
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