FOR IMMEDIATE RELEASE
Citigroup Inc. (NYSE: C)
April 11, 2008
Citibank Greece Offering Investments in a Basket of Agricultural Products
Athens – Wheat, sugar, corn, soybean: the conditions that affect supply and demand are expected to lead to an appreciation of the prices of these agricultural products. Citibank, in examining even the most specialized global markets, enables Greek investors to invest in Agriculture Commodities. Through the new Basket of Agriculture Commodities Notes, Citibank offers participation in potential appreciation of these goods with 100% capital guarantee at maturity by the issuer. The new notes have a tenor of three years and a low minimum amount of 2,000EUR/USD, while they will be available through Citibank branches until April 30.
The notes are linked to the return of an equally weighted basket of agriculture commodities consisting of wheat, sugar, corn and soybeans. Their selection is related to the reasons that influence their supply and demand. More specifically, the growth of world population, the evolution of food habits and the need for alternative energy sources have significantly increased the demand for agricultural products. At the same time, the supply is not enough to cover neither current nor future needs at a global level.
The return of the Basket of Agriculture Commodities Notes at maturity is structured by the average six-month return of the basket during the investment (six six-months measurements are taken into account). At maturity, if the basket's return is positive, the investor will receive the principal investment amount plus a participation percentage in the basket's return, which is set to 80%-120% for EUR and to 60%-100% for USD. The exact participation factor will be determined at the end of offering. If the basket's return is negative, the investor will receive 100% of the principal investment amount.
The notes' issuer, who guarantees 100% capital protection at maturity, is Citigroup Funding Inc., with the additional guarantee of Citigroup Inc.
Exclusively for Citigold customers, Citibank organized a presentation of agricultural commodities prospects and of the new Basket of Agriculture Commodities Notes by Citigroup Global Markets key speakers on Monday, April 7.
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Citi
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Certain statements in this document are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors. More information about these factors is contained in Citigroup's filings with the Securities and Exchange Commission.