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Citigroup Inc. Announces Offers to Purchase Two



By Totem on Wednesday,

Citigroup Inc. Announces Offers to Purchase Two Series of Outstanding Notes.


Citigroup Inc. Announces Offers to Purchase Two Citigroup Inc. recently announced the commencement of cash tender offers some of his notes of the series shown in the table below, up to a total principal amount for each series of notes (each a "Maximum Series Tender Cap"). Citigroup Inc. Announces Offers to Purchase Two Series of Outstanding that The tender offer for each series of notes is known as a "deal" and all these deals are collectively referred to as the "Offers".

The notes had an aggregate principal amount outstanding of approximately US $ 2.35 million at June 8, 2015. These tenders, currently a total of up to approximately US $ 500 million aggregate principal amount of the Notes, are consistent with the strategy of management responsibility for Citigroup, reflecting its ongoing efforts to improve the efficiency of their financing and capital structure. Since 2013, Citigroup redeemed or retired U $ S 26.8 million dollars of securities, excluding securities traded, of which $ 4.7 billion was redeemed or retired in 2015, lowering overall financing costs of Citigroup . Citigroup will continue to consider opportunities to redeem or repurchase values, depending on various factors, including, without limitation, economic value, the potential impact on net interest income and costs of Citigroup debt, total remaining tenor of the debt portfolio Citigroup, the impact of capital, as well as general market conditions. The Offers are made pursuant to the tender offer, dated June 9, 2015 (the "Offer to Purchase", which may be amended or supplemented from time to time), and the related letter of transmittal (the "Letter of Transmittal , "which may be amended or supplemented from time to time) which sets out in detail the terms and conditions of the Offers.  The offers will expire at 11:59 pm New York on July 7, 2015, unless extended or earlier terminated (such date and time, as the same may be extended with respect to the Offers, the "Date Expiration "). Subject to the terms and conditions set forth in the Offer to Purchase and the Letter of Transmittal, holders of notes that are validly tendered at or before 5 pm, New York time, on June 22, 2015, unless extended (as the date and time with respect to an offer, as the same may be extended to such an offer, the "Early Tender Date") and accepted for purchase will be entitled to receive the total consideration calculated in the manner provided in the Offer purchase (the "Total Consideration"), which includes an early tender premium of the amount shown in the table above (the "Early Tender Premium"). The Total Consideration for each series of Notes will be equal to the price determined in accordance with standard market practice, as described in the Offer to Purchase, equivalent to a yield to maturity equal to the fixed spread applicable specified for each such series of notes on application performance, which are based on the price of the supply side is applicable Safety Treasury reference to 2 pm, New York time, on June 23, 2015 (subject to certain exceptions in the Tender Offer, the time and date, as the same may be extended to such an offer, the "Price Determination Date"). Subject to the terms and conditions set forth in the Offer to Purchase, holders of a series of notes that are validly tendered after the Early Tender Date but on or before the Expiration Date and accepted for purchase will receive only the offer consideration applicable public procurement, which is equal to the Total Consideration applicable to that series of Notes less the Early Tender Premium (the "Tender Offer Consideration").

Citigroup Inc. Announces Offers to Purchase Two Series of Outstanding Notes. That Notes tendered may be withdrawn at any time before 5 pm, New York City time, on June 22, 2015, unless extended (such date and time with respect to an offer, as the same may be extended to such an offer, the "Withdrawal Date"), but not thereafter.
Subject to the terms and conditions of the Offers, Citigroup is offering buy an aggregate principal amount of each series of Notes to the Maximum Tender Cap applicable series is set in the table above. If the aggregate principal amount of the Notes of any series validly tendered in the Tender Offer exceeds the Maximum Series Cap for such series, then, subject to the terms and conditions of the Offers, Citigroup accept tendered Notes of such series a pro rata basis as described in the Offer to Purchase.
Citigroup reserves the right, but has no obligation, at any time after the Early Tender Date and prior to the Expiration Date, to accept for purchase any tendered Notes of a series and not subsequently withdrawn on or before the date Early Tender (the "Early Settlement Date") subject to the Maximum Tender Cap for such series Series. The Early Settlement Date will be determined at the discretion of Citigroup and is currently expected to June 25, 2015, subject to all conditions of the Offer have been satisfied or waived by Citigroup.

Citigroup Inc. Announces Offers to Purchase Two Series of Outstanding Notes. That If an offer is fully subscribed to the amount of the tender Cap maximum series that series of notes from the Early Tender Date, then no notes of that series that were tendered validly after the Early Tender Date to be accepted purchase. An offer for a series of notes that is subscribed Series Tender Cap for such series maximum from the Early Tender Date will be subject to proration. If an offer for a series of Notes is not fully subscribed to Cap Bidding maximum series that series from the Early Tender Date and is fully subscribed to the Tender Cap maximum series that series from the Maturity Date, Additional notes of that series will be accepted for purchase to the maximum Series Tender Cap, subject to proration possible (if it is signed by the Tender Cap Maximum Series) and subject to all conditions to the Offer have been satisfied or waived by we.
Whether choose to have an Early Settlement Date, we will purchase any remaining Notes have been tendered validly on or before the Maturity Date and we choose to accept for purchase, subject to all conditions to the Offers have been or well satisfied or waived by us, immediately after the Maturity Date (the "Settlement Date"). Payment of bonds purchased will include accrued and unpaid interest from and including the last date of payment of interest on the Notes up to but not including the Early Settlement Date, or, if choose not to have a date of early settlement , the Settlement Date.
Under current law, Citigroup may increase the Maximum Series Tender Cap for one or more series of Notes at any time prior to the Settlement Date. This increase does not have to be equally or on a pro rata among the Series Maximum Tender Caps for all series of Notes.
Citigroup's obligation to accept for purchase and to pay for Notes validly tendered pursuant to the Offers is subject to, and conditioned upon the satisfaction or, where applicable, waiver of a number of conditions described in the Tender Offer, including the condition that holders validly tender a total principal amount of each series of notes equal to or greater than the Maximum Series Tender Cap applicable to each such series of Notes (the "Minimum Tender Condition") . Citigroup reserves the right, in its sole discretion, to waive one or more of the conditions, including the minimum tender status at any time.
Citigroup has retained its affiliate Citigroup Global Markets Inc. to serve as the sole dealer manager for the Offer. Global Bondholder Services Corporation has been retained to serve as the depositary and information agent with respect to the Bonds.

Citi said Citigroup Inc. Announces Offers to Purchase Two Series of Outstanding Notes For additional information about the terms of the Offers, please contact Citigroup Global Markets Inc., either at (800) 558-3745 (toll free) or (212) 723-6106. Requests for copies of the Offer to Purchase and the Letter of Transmittal and questions regarding the tender of Notes may be directed to Global Bondholder Services Corporation at (866) 470-4300 (toll free) or (212) 430 -3774 (collect).

None of Citigroup, its board of directors, the dealer manager, the depository or the information agent makes any recommendation as to whether any holder of the Notes should tender or refrain from tendering all or part of the principal amount of the Bonds.
Citi also post This press release does not constitute an offer to purchase nor a solicitation to buy any of these Notes nor is it a request for acceptance of any of the Offers. Citigroup is making the Offer only, and in accordance with the terms of the Offer to Purchase and the Letter of Transmittal. The offers are not made to (nor will tenders of Notes be accepted from or on behalf of) holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. This announcement should be read in conjunction with the Tender Offer and, where appropriate, the Letter of Transmittal.
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Citigroup Inc. Announces Offers to Purchase Two Series of Outstanding Notes., Citigroup Inc. Announces Offers to Purchase Two Series of Outstanding Notes for avoidance of doubt, the Offer is made pursuant to this Offer to Purchase are separate and distinct from the bid of 6.125% Notes due 2036 of May 15, 2015, under which notes this series are no longer They are accepted for purchase.
United Kingdom. The communication of the Tender Offer and not being done any other documents or materials relating to the Offers and such documents and / or materials materials that have not been approved by an authorized person for the purposes of Article 21 of the Law of Services and Markets Financial 2000. Accordingly, such documents and / or materials are not being distributed to, and must not be passed on to, the general public in the UK. The communication of such documents and / or materials, as only a financial promotion is making people in the United Kingdom falling within the definition of investment professionals (as defined in Article 19 (5) Law Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or Article 43 (2) of the Order, or other persons who may lawfully be communicated in accordance with the Order.

Source: View full press release with table.

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