Obligation Citigroup 2.25% ( US17298CF600 ) en USD

Citigroup

100 % ⇌

Etas-Unis

US17298CF600 ( en USD )

2.25% par an ( paiement semestriel )

27/12/2021 - Obligation échue

Prospectus brochure de l'obligation Citigroup US17298CF600 en USD 2.25%, échue

1 000 USD

2 000 000 USD

17298CF60

N/A

Citigroup est une société financière multinationale américaine offrant une large gamme de services financiers, notamment des services bancaires de détail, des services bancaires d'investissement, la gestion d'actifs et les services de cartes de crédit, à travers le monde.

L'Obligation émise par Citigroup ( Etas-Unis ) , en USD, avec le code ISIN US17298CF600, paye un coupon de 2.25% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 27/12/2021

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424B2 1 dp71330_424b2-1650.htm PRICING SUPPLEMENT
CALCULATION OF REGISTRATION FEE
Title of each class of securities to be
Maximum aggregate offering price
Amount of registration fee(1) (2)
registered
Medium-Term Senior Notes, Series G
$2,000,000
$231.80
(1)
Calculated in accordance with Rule 457(r) of the Securities Act.
(2)
Pursuant to Rule 457(p) under the Securities Act, the $17,221.72 remaining of the registration fees previously paid with respect to unsold securities
registered on Post-Effective Amendment No. 1 to Registration Statement File No. 333-157386, filed on February 11, 2011 by Citigroup Funding
Inc., a wholly owned subsidiary of Citigroup Inc., and Registration Statement File No. 333-172554, filed on March 2, 2011 by Citigroup Funding
Inc., and previously carried forward with respect to unsold securities registered on Registration Statement File No. 333-192302, filed on November
13, 2013 by Citigroup Inc., is being carried forward, of which $231.80 is offset against the registration fee due for this offering and of which
$16,989.92 remains available for future registration fee offset. The most recent filing utilizing a portion of the registration fees previously paid with
respect to unsold securities registered on these registration statements was filed on December 23, 2016. No additional registration fee has been paid
with respect to this offering. The effectiveness of each of the registration statements referred to in this footnote (2) has expired. Please refer to
footnote (1) to the "Calculation of Registration Fee" table in Post-Effective Amendment No. 1 to Registration Statement File No. 333-214120, filed
on November 21, 2016 by Citigroup Inc.
Citigroup Inc.
December 21, 2016
Medium-Term Senior Notes, Series
G
Pricing Supplement No. 2016-
CMTNG0988
Filed Pursuant to Rule 424(b)(2)
Registration Statement No. 333-
214120
Callable Step-Up Coupon Notes Due December 27, 2021
x
The notes mature on December 27, 2021. We have the right to call the notes for mandatory redemption
prior to maturity on a quarterly basis beginning two years after issuance. Unless previously redeemed, the
notes pay interest quarterly at a per annum rate that will increase at pre-set intervals over the term of the
notes. Because of our redemption right, there is no assurance that you will receive interest payments at the
higher interest rates stated below.
x
The notes are unsecured senior debt obligations of Citigroup Inc. All payments due on the notes are
subject to the credit risk of Citigroup Inc.
x
It is important for you to consider the information contained in this pricing supplement together with the
information contained in the accompanying prospectus supplement and prospectus. The description of the
notes below supplements, and to the extent inconsistent with replaces, the description of the general terms
of the notes set forth in the accompanying prospectus supplement and prospectus.
KEY TERMS
Issuer:
Citigroup Inc.
Stated principal amount:
$1,000 per note
Aggregate stated principal $2,000,000
amount:
Pricing date:
December 21, 2016
Original issue date:
December 27, 2016 (three business days after the pricing date)
Maturity date:
December 27, 2021. If the maturity date is not a business day, then the
payment required to be made on the maturity date will be made on the next
succeeding business day with the same force and effect as if it had been made
on the maturity date. No additional interest will accrue as a result of delayed
payment.
Payment at maturity:
$1,000 per note plus any accrued and unpaid interest
Interest rate per annum:
From and including the original issue date to but excluding December 27, 2019,
unless previously redeemed: 2.20%
From and including December 27, 2019 to but excluding December 27, 2020,
unless previously redeemed: 2.25%
From and including December 27, 2020 to but excluding the maturity date,
unless previously redeemed: 2.50%
Interest period:
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The period from and including the original issue date to but excluding the
immediately following interest payment date, and each successive period from
and including an interest payment date to but excluding the next interest
payment date
Interest payment dates:
Quarterly on the 27th day of each March, June, September and December of
each year, commencing March 27, 2017, provided that if any such day is not a
business day, the applicable interest payment will be made on the next
succeeding business day. No additional interest will accrue on that succeeding
business day. Interest will be payable to the persons in whose names the notes
are registered at the close of business on the business day preceding each
interest payment date, which we refer to as a regular record date, except that
the interest payment due at maturity or upon earlier redemption will be paid to
the persons who hold the notes on the maturity date or earlier date of
redemption, as applicable.
Day count convention:
30/360 Unadjusted. See "Determination of Interest Payments" in this pricing
supplement.
Redemption:
Beginning on December 27, 2018, we have the right to call the notes for
mandatory redemption, in whole and not in part, on any redemption date and
pay to you 100% of the principal amount of the notes plus accrued and unpaid
interest to but excluding the date of such redemption. If we decide to redeem
the notes, we will give you notice at least five business days before the
redemption date specified in the notice.
So long as the notes are represented by global securities and are held on
behalf of The Depository Trust Company ("DTC"), redemption notices and other
notices will be given by delivery to DTC. If the notes are no longer represented
by global securities and are not held on behalf of DTC, redemption notices and
other notices will be published in a leading daily newspaper in New York City,
which is expected to be The Wall Street Journal.
Redemption dates:
December 27, 2018 and each interest payment date thereafter
Business day:
Any day that is not a Saturday or Sunday and that, in New York City, is not a
day on which banking institutions are authorized or obligated by law or
executive order to close
Business day convention:
Following
CUSIP / ISIN:
17298CF60/US17298CF600
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.
Underwriter:
Citigroup Global Markets Inc. ("CGMI"), an affiliate of the issuer, acting as
principal. See "General Information--Supplemental information regarding plan
of distribution; conflicts of interest" in this pricing supplement.
Underwriting fee and issue
Issue price(1)
Underwriting fee(2)
Proceeds to issuer
price:
Per note:
$1,000.00
$10.00
$990.00
Total:
$2,000,000.00
$20,000.00
$1,980,000.00
(1) The issue price for investors purchasing the notes in fee-based advisory accounts will be $990.00 per note, assuming
no custodial fee is charged by a selected dealer, and up to $995.00, assuming the maximum custodial fee is charged by a
selected dealer. See "General Information--Fees and selling concessions" in this pricing supplement.
(2) CGMI, an affiliate of Citigroup Inc. and the underwriter of the sale of the notes, is acting as principal and will receive an
underwriting fee of $10.00 for each note sold in this offering (or up to $5.00 for each note sold to fee-based advisory
accounts). Selected dealers not affiliated with CGMI will receive a selling concession of $10.00 for each note they sell other
than to fee-based advisory accounts. CGMI will pay selected dealers not affiliated with CGMI, which may include dealers
acting as custodians, a variable selling concession of up to $5.00 for each note they sell to fee-based advisory accounts.
Additionally, it is possible that CGMI and its affiliates may profit from hedging activity related to this offering, even if the
value of the notes declines. You should refer to "Risk Factors" and "General Information--Fees and selling concessions" in
this pricing supplement for more information.
Investing in the notes involves risks not associated with an investment in
conventional fixed rate debt securities. See "Risk Factors" beginning on page PS-2.
Neither the Securities and Exchange Commission nor any state securities commission has approved
or disapproved of the notes or determined that this pricing supplement and the accompanying
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prospectus supplement and prospectus is truthful or complete. Any representation to the contrary is a
criminal offense.
You should read this pricing supplement together with the accompanying prospectus supplement and
prospectus, each of which can be accessed via the following hyperlink:
Prospectus Supplement and Prospectus each dated October 14, 2016
The notes are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance
Corporation or any other governmental agency, nor are they obligations of, or guaranteed by, a bank.
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Citigroup Inc.
Callable Step-Up Coupon Notes Due December 27, 2021
Risk Factors
The following is a non-exhaustive list of certain key risk factors for investors in the notes. You should read the
risk factors below together with the risk factors included in the documents incorporated by reference in the
accompanying prospectus, including our most recent Annual Report on Form 10-K and any subsequent
Quarterly Reports on Form 10-Q, which describe risks relating to our business more generally. We also urge
you to consult your investment, legal, tax, accounting and other advisers in connection with your investment in
the notes.

The notes may be redeemed at our option, which limits your ability to accrue interest over the full
term of the notes. We may redeem the notes, in whole but not in part, on any interest payment date
beginning two years after the date of issuance of the notes, upon not less than five business days' notice.
In the event that we redeem the notes, you will receive the principal amount of the notes and any accrued
and unpaid interest to but excluding the date on which the notes are redeemed. In this case, you will not
have the opportunity to continue to accrue and be paid interest to the maturity date of the notes.

Market interest rates at a particular time will affect our decision to redeem the notes. It is more likely
that we will call the notes for mandatory redemption prior to their maturity date at a time when the interest
rate on the notes is greater than that which we would pay on a comparable debt security of Citigroup Inc.
with a maturity comparable to the remaining term of the notes. Consequently, if we redeem the notes prior
to their maturity, you may not be able to invest in other securities with a similar level of risk that yield as
much interest as the notes.

The step-up feature presents different investment considerations than conventional fixed-rate
notes. Unless general market interest rates rise significantly, you should not expect to earn the higher
stated interest rates, which are applicable only after the third year of the term of the notes, because the
notes are more likely to be redeemed prior to maturity if general market interest rates remain the same or
fall during the term of the notes. When determining whether to invest in the notes, you should consider,
among other things, the overall annual percentage rate of interest to maturity or the various potential
redemption dates as compared to other equivalent investment alternatives rather than the higher stated
interest rates or any potential interest payments you may receive after the third year following the issuance
of the notes. If general market interest rates increase beyond the rates provided by the notes during the
term of the notes, we are less likely to redeem the notes, and if we do not redeem the notes investors will
be holding notes that bear interest at below-market rates.

The notes are subject to the credit risk of Citigroup Inc., and any actual or anticipated changes to
its credit ratings or credit spreads may adversely affect the value of the notes. You are subject to the
credit risk of Citigroup Inc. If Citigroup Inc. defaults on its obligations under the notes, your investment
would be at risk and you could lose some or all of your investment. As a result, the value of the notes will
be affected by changes in the market's view of Citigroup Inc.'s creditworthiness. Any decline, or anticipated
decline, in Citigroup Inc.'s credit ratings or increase, or anticipated increase, in the credit spreads charged
by the market for taking Citigroup Inc. credit risk is likely to adversely affect the value of the notes.

The notes will not be listed on any securities exchange and you may not be able to sell them prior
to maturity. The notes will not be listed on any securities exchange. Therefore, there may be little or no
secondary market for the notes. CGMI currently intends to make a secondary market in relation to the
notes and to provide an indicative bid price for the notes on a daily basis. Any indicative bid price for the
notes provided by CGMI will be determined in CGMI's sole discretion, taking into account prevailing market
conditions and other relevant factors, and will not be a representation by CGMI that the notes can be sold
at that price or at all. CGMI may suspend or terminate making a market and providing indicative bid prices
without notice, at any time and for any reason. If CGMI suspends or terminates making a market, there
may be no secondary market at all for the notes because it is likely that CGMI will be the only broker-dealer
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that is willing to buy your notes prior to maturity. Accordingly, an investor must be prepared to hold the
notes until maturity.

Immediately following issuance, any secondary market bid price provided by CGMI, and the value
that will be indicated on any brokerage account statements prepared by CGMI or its affiliates, will
reflect a temporary upward adjustment. The amount of this temporary upward adjustment will steadily
decline to zero over the temporary adjustment period. See "General Information--Temporary adjustment
period" in this pricing supplement.

Secondary market sales of the notes may result in a loss of principal. You will be entitled to receive at
least the full stated principal amount of your notes, subject to the credit risk of Citigroup Inc., only if you
hold the notes to maturity or redemption. If you are able to sell your notes in the secondary market prior to
maturity or redemption, you are likely to receive less than the stated principal amount of the notes.

The inclusion of underwriting fees and projected profit from hedging in the issue price is likely to
adversely affect secondary market prices. Assuming no changes in market conditions or other relevant
factors, the price, if any, at which CGMI may be willing to purchase the notes in secondary market
transactions will likely be lower than the issue price since the issue price of the notes includes, and
secondary market prices are likely to exclude, underwriting fees paid with respect to the notes, as well as
the cost of hedging our obligations under the notes. The cost of hedging includes the projected profit that
our affiliates may realize in consideration for assuming the risks inherent in managing the hedging
transactions. The secondary market prices for the notes are also likely to be reduced by the costs of
unwinding the related hedging transactions. Our affiliates may realize a profit from the expected hedging
activity even if the value of the notes declines. In addition, any secondary market prices for the notes may
differ from values determined by pricing models used by CGMI, as a result of dealer discounts, mark-ups or
other transaction costs.
December 2016
PS-2
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Citigroup Inc.
Callable Step-Up Coupon Notes Due December 27, 2021

The price at which you may be able to sell your notes prior to maturity will depend on a number of
factors and may be substantially less than the amount you originally invest. A number of factors will
influence the value of the notes in any secondary market that may develop and the price at which CGMI
may be willing to purchase the notes in any such secondary market, including: interest rates in the market
and the volatility of such rates, the time remaining to maturity of the notes, hedging activities by our
affiliates, fees and projected hedging fees and profits, expectations about whether we are likely to redeem
the notes and any actual or anticipated changes in the credit ratings, financial condition and results of
Citigroup Inc. The value of the notes will vary and is likely to be less than the issue price at any time prior to
maturity or redemption, and sale of the notes prior to maturity or redemption may result in a loss.
General Information
Temporary adjustment
For a period of approximately four months following issuance of the notes, the
period:
price, if any, at which CGMI would be willing to buy the notes from investors,
and the value that will be indicated for the notes on any brokerage account
statements prepared by CGMI or its affiliates (which value CGMI may also
publish through one or more financial information vendors), will reflect a
temporary upward adjustment from the price or value that would otherwise be
determined. This temporary upward adjustment represents a portion of the
hedging profit expected to be realized by CGMI or its affiliates over the term of
the notes. The amount of this temporary upward adjustment will decline to zero
on a straight-line basis over the four-month temporary adjustment
period. However, CGMI is not obligated to buy the notes from investors at any
time. See "Risk Factors--The notes will not be listed on any securities
exchange and you may not be able to sell them prior to maturity."
U.S. federal income tax
The notes will be treated for U.S. federal income tax purposes as fixed rate debt
considerations:
instruments that are issued without original issue discount. See "United States
Federal Tax Considerations--Tax Consequences to U.S. Holders--Original
Issue Discount" in the accompanying prospectus supplement for further
information regarding the treatment under the original issue discount rules of
debt instruments that are subject to early redemption.
Both U.S. and non-U.S. persons considering an investment in the notes should
read the discussion under "United States Federal Tax Considerations," and in
particular the sections entitled "United States Federal Tax Considerations--Tax
Consequences to U.S. Holders," "--Tax Consequences to Non-U.S. Holders"
and "--FATCA" in the accompanying prospectus supplement for more
information.
Trustee:
The Bank of New York Mellon (as trustee under an indenture dated November
13, 2013) will serve as trustee for the notes.
Use of proceeds and
The net proceeds received from the sale of the notes will be used for general
hedging:
corporate purposes and, in part, in connection with hedging our obligations
under the notes through one or more of our affiliates.
Hedging activities related to the notes by one or more of our affiliates involved
trading in one or more instruments, such as options, swaps and/or futures,
and/or taking positions in any other available securities or instruments that we
may wish to use in connection with such hedging and may include adjustments
to such positions during the term of the notes. It is possible that our affiliates
may profit from this hedging activity, even if the value of the notes declines.
Profit or loss from this hedging activity could affect the price at which Citigroup
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Inc.'s affiliate, CGMI, may be willing to purchase your notes in the secondary
market. For further information on our use of proceeds and hedging, see "Use of
Proceeds and Hedging" in the accompanying prospectus.
ERISA and IRA purchase Please refer to "Benefit Plan Investor Considerations" in the accompanying
considerations:
prospectus supplement for important information for investors that are ERISA or
other benefit plans or whose underlying assets include assets of such plans.
Fees and selling
CGMI, an affiliate of Citigroup Inc. and the underwriter of the sale of the notes, is
concessions:
acting as principal and will receive an underwriting fee of $10.00 for each note
sold in this offering (or up to $5.00 for each note sold to fee-based advisory
accounts). The actual underwriting fee will be equal to $10.00 for each note sold
by CGMI directly to the public and will otherwise be equal to the selling
concession provided to selected dealers, as described in this paragraph. CGMI
will pay selected dealers not affiliated with CGMI a selling concession of $10.00
for each note they sell to accounts other than fee-based advisory accounts.
CGMI will pay selected dealers not affiliated with CGMI, which may include
dealers acting as custodians, a variable selling concession of up to $5.00 for
each note they sell to fee-based advisory accounts.
December 2016
PS-3
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Citigroup Inc.
Callable Step-Up Coupon Notes Due December 27, 2021
Additionally, it is possible that CGMI and its affiliates may profit from hedging
activity related to this offering, even if the value of the notes declines. You
should refer to "Risk Factors" above and the section "Use of Proceeds and
Hedging" in the accompanying prospectus.
Supplemental
The terms and conditions set forth in the Global Selling Agency Agreement
information regarding
dated November 13, 2013 among Citigroup Inc. and the agents named therein,
plan of distribution;
including CGMI, govern the sale and purchase of the notes.
conflicts of interest:
The notes will not be listed on any securities exchange.
In order to hedge its obligations under the notes, Citigroup Inc. has entered into
one or more swaps or other derivatives transactions with one or more of its
affiliates. You should refer to the section "General Information--Use of proceeds
and hedging" in this pricing supplement and the section "Use of Proceeds and
Hedging" in the accompanying prospectus.
CGMI is an affiliate of Citigroup Inc. Accordingly, the offering of the notes will
conform with the requirements addressing conflicts of interest when distributing
the securities of an affiliate set forth in Rule 5121 of the Conduct Rules of the
Financial Industry Regulatory Authority, Inc. Client accounts over which
Citigroup Inc., its subsidiaries or affiliates of its subsidiaries have investment
discretion are not permitted to purchase the notes, either directly or indirectly,
without the prior written consent of the client. See "Plan of Distribution; Conflicts
of Interest" in the accompanying prospectus supplement for more information.
Paying agent:
Citibank, N.A. will serve as paying agent and registrar and will also hold the
global security representing the notes as custodian for The Depository Trust
Company ("DTC").
Contact:
Clients may contact their local brokerage representative. Third party distributors
may contact Citi Structured Investment Sales at (212) 723-7005.
We encourage you to also read the accompanying prospectus supplement and prospectus, which can be
accessed via the hyperlink on the cover page of this pricing supplement.
Determination of Interest Payments
On each interest payment date, the amount of each interest payment 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.
Certain Selling Restrictions
Hong Kong Special Administrative Region
The contents of this pricing supplement and the accompanying prospectus supplement and prospectus have
not been reviewed by any regulatory authority in the Hong Kong Special Administrative Region of the People's
Republic of China ("Hong Kong"). Investors are advised to exercise caution in relation to the offer. If investors
are in any doubt about any of the contents of this pricing supplement and the accompanying prospectus
supplement and prospectus, they should obtain independent professional advice.
The notes have not been offered or sold and will not be offered or sold in Hong Kong by means of any
document, other than
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(i)
to persons whose ordinary business is to buy or sell shares or debentures (whether as
principal or agent); or
(ii)
to "professional investors" as defined in the Securities and Futures Ordinance (Cap. 571) of
Hong Kong (the "Securities and Futures Ordinance") and any rules made under that
Ordinance; or
(iii)
in other circumstances which do not result in the document being a "prospectus" as defined in
the Companies Ordinance (Cap. 32) of Hong Kong or which do not constitute an offer to the
public within the meaning of that Ordinance; and
There is no advertisement, invitation or document relating to the notes which is directed at, or the contents of
which are likely to be accessed or read by, the public of Hong Kong (except if permitted to do so under the
securities laws of Hong Kong) other than with respect to securities which are or are intended to be disposed of
only to persons outside Hong Kong or only to "professional investors" as defined in the Securities and Futures
Ordinance and any rules made under that Ordinance.
Non-insured Product: These notes are not insured by any governmental agency. These notes are not bank
deposits and are not covered by the Hong Kong Deposit Protection Scheme.
Singapore
This pricing supplement and the accompanying prospectus supplement and prospectus have not been
registered as a prospectus with the Monetary Authority of Singapore, and the notes will be offered pursuant to
exemptions under the Securities and Futures Act,
December 2016
PS-4
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Citigroup Inc.
Callable Step-Up Coupon Notes Due December 27, 2021
Chapter 289 of Singapore (the "Securities and Futures Act"). Accordingly, the notes may not be offered or sold
or made the subject of an invitation for subscription or purchase nor may this pricing supplement or any other
document or material in connection with the offer or sale or invitation for subscription or purchase of any notes
be circulated or distributed, whether directly or indirectly, to any person in Singapore other than (a) to an
institutional investor pursuant to Section 274 of the Securities and Futures Act, (b) to a relevant person under
Section 275(1) of the Securities and Futures Act or to any person pursuant to Section 275(1A) of the Securities
and Futures Act and in accordance with the conditions specified in Section 275 of the Securities and Futures
Act, or (c) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the
Securities and Futures Act. Where the notes are subscribed or purchased under Section 275 of the Securities
and Futures Act by a relevant person which is:
(a)
a corporation (which is not an accredited investor (as defined in Section 4A of the Securities
and Futures Act)) the sole business of which is to hold investments and the entire share capital
of which is owned by one or more individuals, each of whom is an accredited investor; or
(b)
a trust (where the trustee is not an accredited investor) whose sole purpose is to hold
investments and each beneficiary is an individual who is an accredited investor, securities (as
defined in Section 239(1) of the Securities and Futures Act) of that corporation or the
beneficiaries' rights and interests (howsoever described) in that trust shall not be transferable
for 6 months after that corporation or that trust has acquired the relevant securities pursuant to
an offer under Section 275 of the Securities and Futures Act except:
(i)
to an institutional investor or to a relevant person defined in Section 275(2) of the
Securities and Futures Act or to any person arising from an offer referred to in Section
275(1A) or Section 276(4)(i)(B) of the Securities and Futures Act; or
(ii)
where no consideration is or will be given for the transfer; or
(iii)
where the transfer is by operation of law; or
(iv)
pursuant to Section 276(7) of the Securities and Futures Act; or
(v)
as specified in Regulation 32 of the Securities and Futures (Offers of Investments)
(Shares and Debentures) Regulations 2005 of Singapore.
Any notes referred to herein may not be registered with any regulator, regulatory body or similar organization or
institution in any jurisdiction.
The notes are Specified Investment Products (as defined in the Notice on Recommendations on Investment
Products and Notice on the Sale of Investment Product issued by the Monetary Authority of Singapore on 28
July 2011) that is neither listed nor quoted on a securities market or a futures market.
Non-insured Product: These notes are not insured by any governmental agency. These notes are not bank
deposits. These notes are not insured products subject to the provisions of the Deposit Insurance and Policy
Owners' Protection Schemes Act 2011 of Singapore and are not eligible for deposit insurance coverage under
the Deposit Insurance Scheme.
Validity of the Notes
In the opinion of Davis Polk & Wardwell LLP, as special products counsel to Citigroup Inc., when the notes
offered by this pricing supplement have been executed and issued by Citigroup Inc. and authenticated by the
trustee pursuant to the indenture, and delivered against payment therefor, such notes will be valid and binding
obligations of Citigroup Inc., enforceable in accordance with their terms, subject to applicable bankruptcy,
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