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For Immediate Release Citigroup Inc. (NYSE: C)

Citibank Announces $1.0 Billion Redemption of Floating Rate Notes Due March 2021

February 27, 2020

New York – Citibank, N.A. is announcing the redemption, in whole, constituting $1,000,000,000 in aggregate principal amount, of its Floating Rate Notes due March 2021 (the "notes") (ISIN: US17325FAW86).

The redemption date for the notes is March 13, 2020. The cash redemption price payable for the notes on the redemption date will equal par plus accrued and unpaid interest. The redemption announced today is consistent with Citibank's liability management strategy, and reflects its ongoing efforts to enhance the efficiency of its funding and capital structure. Citibank will continue to consider opportunities to redeem or repurchase securities, based on several factors, including without limitation, the economic value, regulatory changes, potential impact on Citibank's net interest margin and borrowing costs, the overall remaining tenor of Citibank's debt portfolio, capital impact, as well as overall market conditions.

Beginning on the redemption date, the notes will no longer be outstanding and interest will no longer accrue on such securities.

Citibank, N.A. is the paying agent for the notes.


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Contacts
Media: Mark Costiglio, (212) 559-4114
Investors: Elizabeth Lynn, (212) 559-2718
Fixed Income Investors: Thomas Rogers, (212) 559-5091

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