Filed pursuant to Rule 433
Registration No. 333-192302
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CitiFirst Offerings Brochure | March 2014
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CitiFirst Protection Investments |
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Market-Linked Notes Based on the Dow Jones Industrial Average SM |
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CitiFirst Performance Investments |
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Barrier Securities Based on the Dow Jones Industrial AverageSM |
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For all offerings documented herein (other than the Market-Linked Certificates of Deposit):
Investment Products | Not FDIC Insured | May Lose Value | No Bank Guarantee |
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CitiFirst Offerings Brochure | March 2014
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Introduction to CitiFirst Investments
CitiFirst is the brand name for Citis offering of investments including notes and deposits. Tailored to meet the needs of a range of investors, CitiFirst investments are divided into three categories based on the amount of principal due at maturity:
The structured investments discussed herein are not suitable for all investors. Prospective investors should evaluate their financial objectives and tolerance for risk prior to investing in any structured investment. The SEC registered securities described herein are not bank deposits but are senior, unsecured debt obligations of Citi. All returns and any principal amount due at maturity are subject to the applicable issuer credit risk, with the exception of the Market-Linked Certificates of Deposit which have FDIC insurance, subject to applicable limitations. Structured investments are not conventional debt securities. They are complex in nature and the specific terms and conditions will vary for each offering.
CitiFirst operates across all asset classes meaning that underlying assets include equities, commodities, currencies, interest rates and alternative investments. When depicting a specific product, the relevant underlying asset will be shown as a symbol on the cube:
For instance, if a CitiFirst Performance investment were based upon a single stock, |
Classification of investments into categories is not intended to guarantee particular results or performance. Though the potential returns on structured investments are based upon the performance of the relevant underlying asset or index, investing in a structured investment is not equivalent to investing directly in the underlying asset or index.
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CitiFirst Offerings Brochure | March 2014
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Market-Linked Notes Based on the Dow Jones Industrial AverageSM |
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Indicative Terms*
Issuer: | Citigroup Inc. | |
Underlying index: | The Dow Jones Industrial AverageSM Index (ticker symbol: INDU) | |
Stated principal amount: | $1,000 per note | |
Pricing date: | March , 2014 (expected to be March 26, 2014) | |
Issue date: | March , 2014 (three business days after the pricing date) | |
Valuation dates: | The day of each March, June, September and December (expected to be the 26th day of each March, June, September and December) during the term of the notes, each subject to postponement if such date is not a scheduled trading day or if certain market disruption events occur | |
Maturity date: | October , 2019 (expected to be October 1, 2019) | |
Payment at maturity: | For each note, the $ 1,000 stated principal amount per note plus the note return amount, which will be either zero or positive | |
Note return amount: | ¡ If the average index return percentage is greater than zero:
$1,000 x average index return percentage x upside participation rate
¡ If the average index return percentage is less than or equal to zero: $0 | |
Average index return percentage: | The arithmetic average of the interim index return percentages, as measured on each of the valuation dates | |
Interim index return percentage: | On each valuation date: (ending index level initial index level) / initial index level | |
Initial index level: | , the closing level of the underlying index on the pricing date | |
Ending index level: | The closing level of the underlying index on the relevant valuation date | |
Upside participation rate: | 90% to 100%. The actual upside participation rate will be determined on the pricing date. | |
Listing: | The notes will not be listed on any securities exchange and, accordingly, may have limited or no liquidity. You should not invest in the notes unless you are willing to hold them to maturity. | |
CUSIP: | 1730T0K99 | |
Selling Concession (paid to advisors): | 3.00% |
For questions, please call your Financial Advisor
*The information listed above is not intended to be a complete description of all of the terms, risks and benefits of a particular investment. All maturities are approximate. All terms in brackets are indicative only and will be set on the applicable pricing date. All returns and any principal amount due at maturity are subject to the applicable issuers credit risk, with the exception of the Market-Linked Certificates of Deposit which have FDIC insurance, subject to applicable limitations. Please refer to the relevant investments offering documents and related material(s) for additional information.
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CitiFirst Offerings Brochure | March 2014
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Investor Profile
Investor Seeks: |
Investor Can Accept: | |||||||
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A medium-term equity index-linked investment |
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A holding period of approximately 5.5 years | |||||
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Full principal amount due at maturity |
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The structured investments discussed herein are not suitable for all investors. Prospective investors should evaluate their financial objectives and tolerance for risk prior to investing in any structured investment |
A complete description of the risks associated with this investment are outlined in the Summary Risk Factors section of the applicable preliminary pricing supplement.
For questions, please call your Financial Advisor
*The information listed above is not intended to be a complete description of all of the terms, risks and benefits of a particular investment. All maturities are approximate. All terms in brackets are indicative only and will be set on the applicable pricing date. All returns and any principal amount due at maturity are subject to the applicable issuers credit risk, with the exception of the Market-Linked Certificates of Deposit which have FDIC insurance, subject to applicable limitations. Please refer to the relevant investments offering documents and related material(s) for additional information.
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CitiFirst Offerings Brochure | March 2014
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(15-Year) |
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Indicative Terms*
Issuer: | Citigroup Inc. | |
Issue price: | $1,000 per Note | |
Pricing date: | March , 2014 (expected to be March 25, 2014) | |
Issue date: | March , 2014 (three business days after the pricing date) | |
Maturity date: | March , 2029 (expected to be March 28, 2029) | |
Payment at maturity: | Unless earlier redeemed by us, at maturity you will receive for each note you then hold an amount in cash equal to $1,000 plus any accrued and unpaid interest. | |
Interest rate: | From and including the issue date to but excluding March , 2015 (expected to be March 28, 2015):
¡ For each quarterly interest payment period, 10.00% per annum
Unless earlier redeemed by us, from and including March , 2015 (expected to be March 28, 2015) to but excluding the maturity date (the floating interest rate period):
¡ For each quarterly interest payment period, a variable rate per annum equal to the leverage factor times the CMS reference index; subject to the minimum interest rate and the maximum interest rate
The CMS reference index applicable to a quarterly interest payment period during the floating interest rate period will be determined on the related CMS reference determination date.
After March , 2015 (expected to be March 28, 2015), it is possible that you could receive little or no interest on the notes. In particular, after the first year, if the CMS reference index on any CMS reference determination date is less than or equal to 0%, you will not earn any interest during the related quarterly interest payment period. | |
Leverage factor: | 5 | |
Quarterly interest payment period: | Each three-month period from and including an interest payment date (or the issue date, in the case of the first quarterly interest payment period) to but excluding the next interest payment date | |
Interest payment dates: | The day of each March, June, September and December (expected to be the 28th day of each March, June, September and December), beginning on June , 2014 (expected to be June 28, 2014) and ending on the maturity date or the date when the notes are called | |
CMS reference determination dates: | Two (2) U.S. government securities business days prior to the beginning of each quarterly interest payment period during the floating interest rate period | |
Maximum interest rate: | 10.00% per annum for any quarterly interest payment period during the floating interest rate period | |
Minimum interest rate: | 0.00% per annum for any quarterly interest payment period during the floating interest rate period |
For questions, please call your Financial Advisor
*The information listed above is not intended to be a complete description of all of the terms, risks and benefits of a particular investment. All maturities are approximate. All terms in brackets are indicative only and will be set on the applicable pricing date. All returns and any principal amount due at maturity are subject to the applicable issuers credit risk, with the exception of the Market-Linked Certificates of Deposit which have FDIC insurance, subject to applicable limitations. Please refer to the relevant investments offering documents and related material(s) for additional information.
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CitiFirst Offerings Brochure | March 2014
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CMS reference index: | The 30-year Constant Maturity Swap Rate (CMS30) minus the 5-year Constant Maturity Swap Rate (CMS5). | |
Redemption: | We may call the notes, in whole and not in part, for mandatory redemption on any interest payment date beginning on March , 2015 (expected to be March 28, 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. | |
CUSIP: | 1730T0L23 | |
Listing: | The notes will not be listed on any securities exchange and, accordingly, may have limited or no liquidity. You should not invest in the notes unless you are willing to hold them to maturity. | |
Selling Concession (paid to advisors): | up to 3.50% |
Investor Profile
Investor Seeks: |
Investor Can Accept: | |||||||
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Full principal amount due at maturity |
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A holding period of approximately 15 years | |||||
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Quarterly interest payments |
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The possibility of losing part or all of the principal amount invested if not held to maturity | |||||
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A callable long-term interest-rate investment |
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The structured investments discussed herein are not suitable for all investors. Prospective investors should evaluate their financial objectives and tolerance for risk prior to investing in any structured investment |
A complete description of the risks associated with this investment are outlined in the Risk Factors Relating to the Notes section of the applicable preliminary pricing supplement.
For questions, please call your Financial Advisor
*The information listed above is not intended to be a complete description of all of the terms, risks and benefits of a particular investment. All maturities are approximate. All terms in brackets are indicative only and will be set on the applicable pricing date. All returns and any principal amount due at maturity are subject to the applicable issuers credit risk, with the exception of the Market-Linked Certificates of Deposit which have FDIC insurance, subject to applicable limitations. Please refer to the relevant investments offering documents and related material(s) for additional information.
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CitiFirst Offerings Brochure | March 2014
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(20-Year) |
Indicative Terms*
Issuer: | Citigroup Inc. | |
Issue price: | $1,000 per Note | |
Pricing date: | March , 2014 (expected to be March 25, 2014) | |
Issue date: | March , 2014 (three business days after the pricing date) | |
Maturity date: | March , 2034 (expected to be March 28, 2034) | |
Payment at maturity: | Unless earlier redeemed by us, at maturity you will receive for each note you then hold an amount in cash equal to $1,000 plus any accrued and unpaid interest. | |
Interest rate: | From and including the issue date to but excluding March , 2015 (expected to be March 28, 2015):
¡ For each quarterly interest payment period, 10.00% per annum
Unless earlier redeemed by us, from and including March , 2015 (expected to be March 28, 2015) to but excluding the maturity date (the floating interest rate period):
¡ For each quarterly interest payment period, a variable rate per annum equal to the leverage factor times the CMS reference index; subject to the minimum interest rate and the maximum interest rate
The CMS reference index applicable to a quarterly interest payment period during the floating interest rate period will be determined on the related CMS reference determination date.
After March , 2015 (expected to be March 28, 2015), it is possible that you could receive little or no interest on the notes. In particular, after the first year, if the CMS reference index on any CMS reference determination date is less than or equal to 0%, you will not earn any interest during the related quarterly interest payment period. | |
Leverage factor: | 4 | |
Quarterly interest payment period: | Each three-month period from and including an interest payment date (or the issue date, in the case of the first quarterly interest payment period) to but excluding the next interest payment date | |
Interest payment dates: | The day of each March, June, September and December (expected to be the 28th day of each March, June, September and December), beginning on June , 2014 (expected to be June 28, 2014) and ending on the maturity date or the date when the notes are called | |
CMS reference determination dates: | Two (2) U.S. government securities business days prior to the beginning of each quarterly interest payment period during the floating interest rate period | |
Maximum interest rate: | 10.00% per annum for any quarterly interest payment period during the floating interest rate period | |
Minimum interest rate: | 0.00% per annum for any quarterly interest payment period during the floating interest rate period |
For questions, please call your Financial Advisor
*The information listed above is not intended to be a complete description of all of the terms, risks and benefits of a particular investment. All maturities are approximate. All terms in brackets are indicative only and will be set on the applicable pricing date. All returns and any principal amount due at maturity are subject to the applicable issuers credit risk, with the exception of the Market-Linked Certificates of Deposit which have FDIC insurance, subject to applicable limitations. Please refer to the relevant investments offering documents and related material(s) for additional information.
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CitiFirst Offerings Brochure | March 2014
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CMS reference index: | The 30-year Constant Maturity Swap Rate (CMS30) minus the 2-year Constant Maturity Swap Rate (CMS2). | |
Modified CMS reference index: | The CMS reference index minus 0.25% | |
Redemption: | We may call the notes, in whole and not in part, for mandatory redemption on any interest payment date beginning on March , 2015 (expected to be March 28, 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. | |
CUSIP: | 1730T0L31 | |
Listing: | The notes will not be listed on any securities exchange and, accordingly, may have limited or no liquidity. You should not invest in the notes unless you are willing to hold them to maturity. | |
Selling Concession (paid to advisors): | up to 3.50% |
Investor Profile
Investor Seeks: |
Investor Can Accept: | |||||||
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Full principal amount due at maturity |
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A holding period of approximately 20 years | |||||
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Quarterly interest payments |
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The possibility of losing part or all of the principal amount invested if not held to maturity | |||||
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A callable long-term interest rate investment |
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The structured investments discussed herein are not suitable for all investors. Prospective investors should evaluate their financial objectives and tolerance for risk prior to investing in any structured investment |
A complete description of the risks associated with this investment are outlined in the Risk Factors Relating to the Notes section of the applicable preliminary pricing supplement.
For questions, please call your Financial Advisor
*The information listed above is not intended to be a complete description of all of the terms, risks and benefits of a particular investment. All maturities are approximate. All terms in brackets are indicative only and will be set on the applicable pricing date. All returns and any principal amount due at maturity are subject to the applicable issuers credit risk, with the exception of the Market-Linked Certificates of Deposit which have FDIC insurance, subject to applicable limitations. Please refer to the relevant investments offering documents and related material(s) for additional information.
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CitiFirst Offerings Brochure | March 2014
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Barrier Securities Based on the Dow Jones Industrial AverageSM |
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Indicative Terms*
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Issuer: |
Citigroup Inc. | |
Underlying index: | The Dow Jones Industrial AverageSM Index (ticker symbol: INDU) | |
Stated principal amount: | $1,000 per security | |
Pricing date: | March , 2014 (expected to be March 26, 2014) | |
Issue date: | March , 2014 (three business days after the pricing date) | |
Valuation date: | March , 2018 (expected to be March 26, 2018), subject to postponement if such date is not a scheduled trading day or if certain market disruption events occur | |
Maturity date: | March , 2018 (expected to be March 29, 2018) | |
Payment at maturity: | For each $ 1,000 stated principal amount security you hold at maturity:
¡ If the final index level is greater than or equal to the initial index level: $ 1,000 + the leveraged return amount
¡ If the final index level is less than the initial index level but greater than or equal to the barrier level: $ 1,000
¡ If the final index level is less than the barrier level: $ 1,000 x the index performance factor
If the final index level is less than the barrier level, your payment at maturity will be less, and possibly significantly less, than $800.00 per security. You should not invest in the securities unless you are willing and able to bear the risk of losing a significant portion of your investment. | |
Initial index level: | , the closing level of the underlying index on the pricing date | |
Final index level: | The closing level of the underlying index on the valuation date | |
Index performance factor: | The final index level divided by the initial index level | |
Index percent increase: | The final index level minus the initial index level, divided by the initial index level | |
Leveraged return amount: | $1,000 x the index percent increase x the leverage factor | |
Leverage factor: | 120.00% to 130.00%. The actual leverage factor will be determined on the pricing date. | |
Barrier level: | , 80.00% of the initial index level | |
Listing: | The securities will not be listed on any securities exchange and, accordingly, may have limited or no liquidity. You should not invest in the securities unless you are willing to hold them to maturity. | |
CUSIP: |
1730T0L56
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Selling Concession (paid to advisors): | 2.00% |
For questions, please call your Financial Advisor
* The information listed above is not intended to be a complete description of all of the terms, risks and benefits of a particular investment. All maturities are approximate. All terms in brackets are indicative only and will be set on the applicable pricing date. All returns and any principal amount due at maturity are subject to the applicable issuers credit risk, with the exception of the Market-Linked Certificates of Deposit which have FDIC insurance, subject to applicable limitations. Please refer to the relevant investments offering documents and related material(s) for additional information.
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CitiFirst Offerings Brochure | March 2014
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Investor Profile
Investor Seeks: |
Investor Can Accept: | |||||||
¡ | A medium-term equity index-linked investment |
¡ |
A holding period of approximately 4 years | |||||
¡ |
The possibility of losing a significant portion of the principal amount invested | |||||||
¡ |
The structured investments discussed herein are not suitable for all investors. Prospective investors should evaluate their financial objectives and tolerance for risk prior to investing in any structured investment |
A complete description of the risks associated with this investment are outlined in the Summary Risk Factors section of the applicable preliminary pricing supplement.
For questions, please call your Financial Advisor
* The information listed above is not intended to be a complete description of all of the terms, risks and benefits of a particular investment. All maturities are approximate. All terms in brackets are indicative only and will be set on the applicable pricing date. All returns and any principal amount due at maturity are subject to the applicable issuers credit risk, with the exception of the Market-Linked Certificates of Deposit which have FDIC insurance, subject to applicable limitations. Please refer to the relevant investments offering documents and related material(s) for additional information.
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CitiFirst Offerings Brochure | March 2014
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General Overview of Investments
Investments | Maturity | Risk Profile* | Return* | |||
Contingent Absolute Return MLDs/Notes |
1-2 Years | Full principal amount due at maturity |
If the underlying never crosses either an upside or downside threshold, the return on the investment equals the absolute value of the return of the underlying. Otherwise, the return equals zero | |||
Contingent Upside Participation MLDs/Notes | 1-3 Years | Full principal amount due at maturity |
If the underlying crosses an upside threshold, the return on the investment equals an interest payment paid at maturity. Otherwise, the return equals the greater of the return of the underlying and zero | |||
Minimum Coupon Notes | 3-5 Years | Full principal amount due at maturity |
If the underlying ever crosses an upside threshold during a coupon period, the return for the coupon period equals the minimum coupon. Otherwise, the return for a coupon period equals the greater of the return of the underlying during the coupon period and the minimum coupon |
Investments | Maturity | Risk Profile* | Return* | |||
ELKS® | 6-13 Months | Payment at maturity may be less than the principal amount |
A fixed coupon is paid regardless of the performance of the underlying. If the underlying never crosses a downside threshold, the return on the investment equals the coupons paid. Otherwise, the return equals the sum of the coupons paid and the return of the underlying at maturity | |||
Buffer Notes | 1-3 Years | Payment at maturity may be less than the principal amount |
If the return of the underlying is positive at maturity, the return on the investment equals the lesser of (a) the return of the underlying multiplied by a participation rate and (b) the maximum return on the notes. If the return of the underlying is either zero or negative by an amount lesser than the buffer amount, the investor receives the stated principal amount. Otherwise, the return on the investment equals the return of the underlying plus the buffer amount | |||
PACERSSM | 3-5 Years | Payment at maturity may be less than the principal amount |
If the underlying is equal to or greater than a threshold (such as its initial value) on any call date, the note is called and the return on the investment equals a fixed premium. If the note has not been called, at maturity, if the underlying has crossed a downside threshold, the return on the investment equals the return of the underlying, which will be negative. Otherwise, the return equals zero | |||
LASERSSM | 3-4 Years | Payment at maturity may be less than the principal amount |
If the return of the underlying is positive at maturity, the return on the investment equals the return of the underlying multiplied by a participation rate (some versions are subject to a maximum return on the notes). If the return of the underlying is negative and the underlying has crossed a downside threshold, the return on the investment equals the return of the underlying, which will be negative. Otherwise, the return equals zero |
Investments | Maturity | Risk Profile* | Return* | |||
Upturn Notes | 1-2 Years | Payment at maturity may be zero |
If the underlying is above its initial level at maturity, the return on the investment equals the lesser of the return of the underlying multiplied by a participation rate and the maximum return on the notes. Otherwise, the return equals the return of the underlying | |||
Fixed Upside Return Notes | 1-2 Years | Payment at maturity may be zero |
If the underlying is equal to or above its initial level at maturity, the return on the investment equals a predetermined fixed amount. Otherwise, the return equals the return of the underlying | |||
Strategic Market Access Notes | 3-4 Years | Payment at maturity may be zero |
The return on the investment equals the return of a unique index created by Citi |
*All returns and any principal amount due at maturity are subject to the applicable issuers credit risk, with the exception of Market-Linked Certificates of Deposit which has FDIC insurance, subject to applicable limitations. This is not a complete list of CitiFirst structures. The descriptions above are not intended to completely describe how an investment works or to detail all of the terms, risks and benefits of a particular investment. The return profiles can change. Please refer to the offering documents and related material(s) of a particular investment for a comprehensive description of the structure, terms, risks and benefits related to that investment.
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CitiFirst Offerings Brochure | March 2014
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Important Information for the Monthly Offerings
Investment Information
The investments set forth in the previous pages are intended for general indication only of the CitiFirst Investments offerings. The issuer reserves the right to terminate any offering prior to its pricing date or to close ticketing early on any offering.
SEC Registered (Public) Offerings
Each issuer has separately filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the SEC registered offerings by that issuer to which this communication relates. Before you invest in any of the registered offerings identified in this Offerings Brochure, you should read the prospectus in the applicable registration statement and the other documents the issuer have filed with the SEC for more complete information about that issuer and offerings. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.
For Registered Offerings Issued by: Citigroup Inc.
Issuers Registration Statement Number: 333-192302
Issuers CIK on the SEC Website: 0000831001
Alternatively, you can request a prospectus and any other documents related to the offerings, either in hard copy or electronic form, by calling toll-free 1-877-858-5407 or by calling your Financial Advisor.
The SEC registered securities described herein are not bank deposits but are senior, unsecured debt obligations of the issuer. The SEC registered securities are not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other governmental agency or instrumentality.
Market-Linked Certificates of Deposit
The Market-Linked Deposits (MLDs) are not SEC registered offerings and are not required to be so registered. For indicative terms and conditions on any MLD, please contact your Financial Advisor or call the toll-free number 1-800-831-9146.
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CitiFirst Offerings Brochure | March 2014
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and Risks of CitiFirst Investments
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CitiFirst Offerings Brochure | March 2014
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To discuss CitiFirst structured investment ideas and strategies, Financial Advisors, Private Bankers and other distribution partners may call our sales team. Private Investors should call their financial advisor or private banker.
Client service number for Financial Advisors and Distribution Partners in the Americas:
+1 (212) 723-7005
For more information, please go to www.citifirst.com
Dow Jones Industrial AverageSM is a service mark of Dow Jones & Company, Inc. (Dow Jones) and has been licensed for use by Citigroup Inc. The Notes described herein are not sponsored, endorsed, sold or promoted by Dow Jones and Dow Jones makes no warranties and bears no liability with respect to the Notes.
©2014 Citigroup Inc. Citi and Citi with Arc Design are registered service marks of Citigroup Inc. or its affiliates.