Obbligazione CitiCorp 0.044% ( US1730T0SM26 ) in USD

Emittente CitiCorp
Prezzo di mercato refresh price now   100 USD  ▲ 
Paese  Stati Uniti
Codice isin  US1730T0SM26 ( in USD )
Tasso d'interesse 0.044% per anno ( pagato 2 volte l'anno)
Scadenza 29/04/2033



Prospetto opuscolo dell'obbligazione Citigroup US1730T0SM26 en USD 0.044%, scadenza 29/04/2033


Importo minimo 1 000 USD
Importo totale 8 000 000 USD
Cusip 1730T0SM2
Standard & Poor's ( S&P ) rating BBB+ ( Lower medium grade - Investment-grade )
Moody's rating NR
Coupon successivo 29/10/2025 ( In 3 giorni )
Descrizione dettagliata Citigroup č una multinazionale statunitense operante nel settore dei servizi finanziari, con attivitā che includono la gestione patrimoniale, l'investment banking e le operazioni di credito al consumo.

Citigroup ha emesso un'obbligazione (ISIN: US1730T0SM26, CUSIP: 1730T0SM2) denominata in USD, al prezzo attuale del 100%, con un tasso di interesse dello 0.044%, per un ammontare totale di 8.000.000 di unitā, con scadenza il 29/04/2033, frequenza di pagamento semestrale, taglia minima di 1.000 unitā, rating S&P BBB+ e rating Moody's NR.







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424B2 1 dp37815_424b2.htm PRICING SUPPLEMENT
Filed Pursuant to Rule 424(b)(2)
Registration No. 333-172562
PRICING SUPPLEMENT NO. 2013--CMTNH0067 DATED APRIL 24, 2013
(TO PROSPECTUS SUPPLEMENT DATED DECEMBER 20, 2012 AND PROSPECTUS DATED MAY 12, 2011)
MEDIUM-TERM SENIOR NOTES, SERIES H
CITIGROUP INC.
Callable Leveraged CMS Spread Notes Due April 29, 2033
$1,000 per Note
·
The stated principal amount and issue price of each note is $1,000.
·
Unless earlier redeemed by us, the notes have a maturity of approximately 20 years and will mature on April 29, 2033. At maturity you will receive for each note you
hold an amount in cash equal to $1,000 plus any accrued and unpaid interest. The notes are subject to the credit risk of Citigroup Inc.
·
The notes will bear interest at the rate of 10.00% per annum for one year from and including April 29, 2013 to but excluding April 29, 2014.
·
Unless earlier redeemed by us, from and including April 29, 2014 to but excluding the maturity date, the notes will bear interest during each quarterly interest period
at the per annum rate determined on the second business day prior to the beginning of such quarterly interest period equal to the greater of (i) 4 times the modified
CMS Spread, subject to a maximum interest rate of 10.00% per annum for any interest period, and (ii) the minimum interest rate of 0%. The modified CMS Spread
will be equal to the CMS Spread minus 0.50%, and the CMS Spread will be equal to the 30-year Constant Maturity Swap Rate ("CMS30") minus the 5-year Constant
Maturity Swap Rate ("CMS5"), as determined on the second business day prior to the beginning of such quarterly interest period.
·
Interest on the notes, if any, is payable quarterly on the 29th day of each January, April, July and October, beginning on July 29, 2013 and ending on the maturity date
or the date when the notes are called.
·
We may call the notes, in whole and not in part, for mandatory redemption on any interest payment date beginning on April 29, 2018, upon not less than five business
days' notice. Following an exercise of our call right, you will receive for each note you hold an amount in cash equal to $1,000 plus any accrued and unpaid interest.
·
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.
·
The CUSIP for the notes is 1730T0SM2. The ISIN for the notes is US1730T0SM26.
Investing in the notes involves risks not associated with an investment in conventional debt securities. See "Risk Factors Relating to the Notes" beginning on
page PS-5.
Neither the Securities and Exchange Commission (the "SEC") nor any state securities commission has approved or disapproved of the notes or determined that this pricing supplement and accompanying
prospectus and prospectus supplement is truthful or complete. Any representation to the contrary is a criminal offense.
The notes are not deposits or savings accounts but are unsecured debt obligations of Citigroup Inc. The notes are not insured or guaranteed by the Federal Deposit Insurance Corporation or by any other governmental agency
or instrumentality.

Per
Note
Total
Public Offering Price
$
1,000.00

$
8,000,000.00
Underwriting Fee(1)
$
50.00

$
283,600.00
Proceeds to Citigroup Inc. (1)
$
950.00

$
7,716,400.00
(1) Citigroup Global Markets Inc., an affiliate of Citigroup Inc. and the underwriter of the sale of the notes, is acting as principal and wil receive an underwriting fee of up to $50.00 for each $1,000 note sold in this offering.
The per note proceeds to Citigroup Inc. above represents the minimum per note proceeds to Citigroup Inc., assuming the maximum per note underwriting fee. The total underwriting fee and proceeds to Citigroup Inc. shown
above give effect to the actual amount of this variable underwriting fee. The actual underwriting fee wil be equal to $50.00 for each $1,000 note sold by Citigroup Global Markets Inc. directly to the public and wil otherwise
be equal to the selling concession provided to selected dealers, as described in this paragraph. Citigroup Global Markets Inc. will pay selected dealers not affiliated with Citigroup Global Markets Inc. a variable selling
concession of up to $50.00 for each $1,000 note they sell. Broker-dealers affiliated with Citigroup Global Markets Inc., including Citi International Financial Services, Citigroup Global Markets Singapore Pte. Ltd. and
Citigroup Global Markets Asia Limited, will receive a fixed selling concession, and financial advisors employed by such affiliated broker-dealers or by Citigroup Global Markets Inc. wil receive a fixed sales commission, of
$50.00 for each $1,000 note they sell. Additionally, it is possible that Citigroup Global Markets Inc. and its affiliates may profit from expected hedging activity related to this offering, even if the value of the notes declines. You
should refer to "Risk Factors Relating to the Notes" and "Plan of Distribution; Conflicts of Interest" in this pricing supplement for more information.

Citigroup Global Markets expects to deliver the notes to purchasers on April 29, 2013.

Investment Products
Not FDIC Insured
May Lose Value
No Bank Guarantee



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SUMMARY INFORMATION -- Q&A

What Are the Notes?

The Callable Leveraged CMS Spread Notes are callable securities offered by Citigroup Inc. and have a maturity of approximately twenty years.

For one year after issuance, from and including April 29, 2013 to but excluding April 29, 2014, the interest rate on the notes is fixed at a rate of 10.00% per
annum. Unless the notes are called by us, the per annum interest rate for any quarterly interest period within the period from and including April 29, 2014 to but excluding
the maturity date will equal the greater of (i) 4 times the modified CMS Spread, subject to a maximum interest rate of 10.00% per annum for any interest period, and (ii)
the minimum interest rate of 0%. The modified CMS Spread will be equal to the CMS Spread minus 0.50%, and the CMS Spread will be equal to the 30-year Constant
Maturity Swap Rate ("CMS30") minus the 5-year Constant Maturity Swap Rate ("CMS5"). During this later period (which begins one year after the date of issuance of the
notes), each of CMS30 and CMS5 will be as published on Reuters page "ISDAFIX1" (or any successor page as determined by the calculation agent) at 11:00 am (New
York time) on the applicable interest determination date, which will be the second business day prior to the beginning of the applicable quarterly interest period. During
this later period, the interest rate on the notes may equal but will not be less than zero.

The notes mature on April 29, 2033. We may call the notes, in whole and not in part, for mandatory redemption on any quarterly interest payment date beginning
April 29, 2018 upon not less than five business days' notice. Following an exercise of our call right, you will receive an amount in cash equal to 100% of the stated
principal amount of notes you then hold, plus any accrued and unpaid interest. The notes do not provide for any redemption at your option prior to maturity.

The notes are unsecured senior debt securities issued by Citigroup Inc. The notes will rank equally with all other unsecured and unsubordinated debt of Citigroup
Inc. All payments on the notes, including the repayment of principal are subject to the credit risk of Citigroup Inc.

Each note represents a stated principal amount of $1,000. You may transfer the notes only in units of $1,000 and integral multiples of $1,000. You will not have
the right to receive physical certificates evidencing your ownership except under limited circumstances. Instead, we will issue the notes in the form of a global certificate,
which will be held by The Depository Trust Company ("DTC") or its nominee. Direct and indirect participants in DTC will record beneficial ownership of the notes by
individual investors. Accountholders in the Euroclear or Clearstream Banking clearance systems may hold beneficial interests in the notes through the accounts those
systems maintain with DTC. You should refer to the section "Description of Debt Securities--Book-Entry Procedures and Settlement" in the accompanying prospectus.

Will I Receive Interest on the Notes?

While the notes will earn a fixed rate of interest from and including April 29, 2013 to but excluding April 29, 2014, the interest payments on the notes from and
including April 29, 2014 to but excluding the maturity date or the date when the notes are called will vary and may be zero. We expect to pay interest, if any, in cash
quarterly on the 29th day of each January, April, July and October, beginning July 29, 2013 and ending on the maturity date or the date when the notes are called. We refer
to each of these quarterly payment dates as an interest payment date and each three-month period from and including an interest payment date to but excluding the next
interest payment date or the maturity date as an interest period.

The per annum interest rate for any quarterly interest period from and including April 29, 2013 to but excluding April 29, 2014 will equal 10.00% per annum.
Unless the notes are called by us, the per annum interest rate for any quarterly interest period within the period from and including April 29, 2014 to but excluding the
maturity date will equal the greater of (i) 4 times the modified CMS Spread, subject to a maximum interest rate of 10.00% per annum for any interest period, and (ii) the
minimum interest rate of 0%. The modified CMS Spread will be equal to the CMS Spread minus 0.50%, and the CMS Spread will be equal to the 30-year Constant
Maturity Swap Rate ("CMS30") minus the 5-year Constant Maturity Swap Rate ("CMS5"). For the interest periods beginning on or after April 29, 2014, the interest rate
will be reset on the second business day prior to the beginning of such quarterly interest period, which we refer to as the interest determination date. During each interest
period, interest will be calculated on the basis of a 360-day year consisting of twelve 30-day months.

Beginning on April 29, 2014, if CMS30 is less than or equal to CMS5 plus 0.50%, on an applicable interest determination date, then no interest will accrue on the
notes for the interest period to which that interest determination date relates. As a result, interest payments on the notes could be zero beginning on April 29, 2014. In
addition, on any interest payment date after April 29, 2018, we have the right to call the notes on any interest payment date. We are more likely to call


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the notes at a time when interest is accruing on the notes at a rate greater than that which would be payable on a conventional, fixed-rate debt security of Citigroup Inc. of
comparable maturity. If we call the notes, you may not be able to invest in other securities with a similar yield and level of risk. You should refer to the section "Risk
Factors Relating to the Notes" for further information.

Furthermore, because the interest applicable to a quarterly interest period cannot exceed 10.00% per annum, the amount of interest, if any, payable on the notes for
any interest period will not exceed $25.00 per note even if the modified CMS Spread applicable to such interest period is greater than approximately 2.50% (taking into
account that the value of the modified CMS Spread will be multiplied by 4 on the applicable interest determination date). You should refer to the section "Risk Factors
Relating to the Notes" for further information.

The structure of the interest payments on the notes differs from notes that bear interest at a fixed rate and notes that bear interest at a rate directly related to
CMS30, CMS5, CMS Spread or another interest rate. In connection with your investment in the notes, you should understand how the interest rate calculations work. You
can find more information in the section "Description of the Notes -- Interest" in this pricing supplement.

What Will I Receive at Maturity of the Notes?

The notes will mature on April 29, 2033. Subject to the credit risk of Citigroup Inc., at maturity, unless we have previously called your notes, you will receive for
each note you hold an amount in cash equal to $1,000 plus any accrued and unpaid interest.

What Will I Receive if Citigroup Inc. Calls the Notes?

We may call the notes, in whole and not in part, for mandatory redemption on any interest payment date beginning April 29, 2018, upon not less than five business
days' notice to holders of the notes in the manner described in the section "Description of the Notes--Call Right" in this pricing supplement. If we exercise our call right,
you will receive an amount in cash equal to 100% of the stated principal amount of notes you then hold, plus any accrued and unpaid interest.

What Will I Receive if I Sell the Notes Prior to Call or Maturity?

You will receive 100% of the stated principal amount of your notes only if you hold the notes at call or maturity. If you choose to sell your notes before the notes
are called or mature, you are not guaranteed and should not expect to receive the full stated principal amount of the notes you sell. You should refer to the sections "Risk
Factors Relating to the Notes--The Price at Which You Will 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" and "--The Notes Will Not Be Listed on Any Securities Exchange, and Secondary Trading May Be Limited" in this pricing
supplement for further information.

Where Can I Find Examples of Hypothetical Interest Payments?

For examples setting forth hypothetical interest amounts payable over the term of the notes, see "Description of the Notes--Hypothetical Interest Payment
Examples" in this pricing supplement.

Who Publishes CMS30 and CMS5 and What Do They Measure?

Constant maturity swap rates measure the market fixed coupon rate that is to be paid in exchange for a floating three-month-LIBOR-based rate for a specified
period of time. Unless otherwise stated in this pricing supplement, CMS30 and CMS5 will equal the 30-year Constant Maturity Swap Rate and the 5-year Constant
Maturity Swap Rate, each as published on Reuters page "ISDAFIX1" (or any successor page as determined by the calculation agent) at 11:00 am (New York time) on the
applicable interest determination date (as described in the section "-- Determination of the CMS Spread").

What Has the CMS Spread Been Historically?

We have provided a table showing the historical quarterly high and low values of the CMS Spread from January 2, 2008 to April 24, 2013, as well as a graph
showing the value of the CMS Spread on each day such value was available in the same period, in each case without giving effect to the 0.50% deduction reflected in the
modified CMS Spread. You can find this table and graph in the section "Historical Data on the CMS Spread" in this pricing supplement. We have provided this historical
information to help you evaluate the behavior of the CMS Spread in recent years. However, past performance is not


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indicative of how the CMS Spread will perform in the future. In addition, interest payments on the notes will be based not on the CMS Spread but on the modified CMS
Spread, which reflects a deduction of 0.50% from the CMS Spread. You should also refer to the section "Risk Factors Relating to the Notes -- The Historical CMS
Spread Is Not an Indication of the Future CMS Spread" in this pricing supplement.

What Are the U.S. Federal Tax Consequences of Investing in the Notes?

See "United States Federal Income Tax Considerations" below for a description of the U.S. federal tax consequences of investing in the notes. You should consult
your adviser regarding all aspects of the U.S. federal tax consequences of an investment in the notes in light of your particular circumstances.

Will the Notes Be Listed on a Stock Exchange?

The notes will not be listed on any exchange.

Can You Tell Me More About Citigroup Inc.?

Citigroup Inc. is a diversified global financial services holding company whose businesses provide a broad range of financial services to consumer and corporate
customers.

What Is the Role of Citigroup Inc.'s Affiliates, Citigroup Global Markets Inc. and Citibank, N.A.?

Our affiliate, Citigroup Global Markets Inc. ("Citigroup Global Markets"), is the underwriter for the offering and sale of the notes. After the initial offering,
Citigroup Global Markets intends to make a secondary market in relation to the notes and to provide an indicative bid price on a daily basis. Any indicative bid prices
provided by Citigroup Global Markets shall be determined in Citigroup Global Markets' sole discretion, taking into account prevailing market conditions, and shall not be
a representation by Citigroup Global Markets that any instrument can be purchased or sold at such prices (or at all).

Notwithstanding the above, Citigroup Global Markets may suspend or terminate making a market and providing indicative bid prices without notice, at any time
and for any reason. Consequently, there may be no market for the notes and investors should not assume that such a market will exist. Accordingly, an investor must be
prepared to hold the notes until the maturity date. Where a market does exist, to the extent that an investor wants to sell the notes, the price may, or may not, be at a discount
from the stated principal amount. You should refer to "Risk Factors Relating to the Notes" and "Plan of Distribution; Conflicts of Interest" in this pricing supplement for
more information.

Citibank, N.A. will act as calculation agent for the notes. As calculation agent, Citibank, N.A. will make determinations with respect to the notes. You should
refer to "Risk Factors Relating to the Notes-- The Calculation Agent, Which is an Affiliate of the Issuer, Will Make Determinations With Respect to the Notes" in this
pricing supplement for more information.

Can You Tell Me More About the Effect of Citigroup Inc.'s Hedging Activity?

We have hedged our obligations under the notes through one or more of our affiliates. This hedging activity may continue to involve trading in instruments, such as
options, swaps or futures, based on CMS30, CMS5 and the CMS Spread. The costs of maintaining or adjusting this hedging activity could affect the price at which our
affiliate Citigroup Global Markets Inc. may be willing to purchase your notes in the secondary market. Moreover, this hedging activity may result in our or our affiliates'
receipt of a profit, even if the value of the notes declines. You should refer to "Risk Factors Relating to the Notes -- The Price at Which You Will 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" in this pricing supplement and "Use
of Proceeds and Hedging" in the accompanying prospectus.

Does ERISA Impose Any Limitations on Purchases of the Notes?

See "Benefit Plan Investor Considerations" in this pricing supplement for further information.


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Are There Any Risks Associated With My Investment?

Yes, the notes are subject to a number of risks. Please refer to the section "Risk Factors Relating to the Notes" below.


RISK FACTORS RELATING TO THE NOTES

Because the terms of the notes differ from those of conventional debt securities, an investment in the notes entails significant risks not associated with an
investment in conventional debt securities, including, among other things, fluctuations in the relative values of CMS30 and CMS5, and other events that are difficult to
predict and beyond our control.

The Amount of Interest Payable on the Notes Will Vary and May Be Zero

Because CMS30 and CMS5 are floating rates, the CMS Spread will fluctuate. Thus, beginning one year after issuance, on April 29, 2014, the amount of interest
payable on the notes will vary and may be zero for any interest period. In particular, beginning on April 29, 2014, if the modified CMS Spread is less than or equal to 0%
(i.e., if CMS30 is less than or equal to the sum of CMS5 and 0.50%) on the second business day prior to the beginning of a quarterly interest period, you will not earn any
interest during that interest period. Furthermore, the interest rate that is determined on the relevant interest determination date will apply to the entire interest period
following such interest determination date even if the CMS Spread increases during that interest period.

The Interest Rate Applicable to the Notes Will be Subject to a Maximum Per Annum Rate

The interest rate applicable to the notes cannot exceed 10.00% per annum for any interest period. This maximum interest rate will limit the amount of interest you
may be paid on the notes to a maximum of $25.00 per note per interest period. As a result, if the modified CMS Spread applicable to any interest period beginning on
April 29, 2014 is greater than 2.50% (taking into account that the modified CMS Spread will be multiplied by 4 on the applicable interest determination date), the notes
will provide you less interest income than an investment in a similar instrument that is not subject to a maximum per annum interest rate.

The CMS Spread Applicable to Any Interest Period Will be Reduced by 0.50%.

Unless called by us, from and including April 29, 2014 to but excluding the maturity date, when determining the interest rate applicable to each interest period,
0.50% will be deducted from the level of the CMS Spread on the relevant interest determination date to determine the modified CMS Spread. As a result, the effective
yield on your notes will be less than that which would be payable on a security paying interest directly linked to the level of the CMS Spread without any deduction.

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 until the date when the notes are called. The value of the notes may fluctuate, and if you sell your notes in the secondary market prior to maturity or the date
when the notes are called, you may receive less than your initial investment.

The Notes May Be Called at Our Option, Which Limits Your Ability to Accrue Interest Over the Full Term of the Notes

We may call all of the notes on any interest payment date beginning April 29, 2018 upon not less than five business days' notice. In the event that we call the
notes, you will receive the stated principal amount of your investment in the notes and any accrued and unpaid interest to and including the date when the notes are called.
In this case, you will not have the opportunity to continue to accrue and be paid interest to the original maturity date of the notes.


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The Relative Values of CMS30 and CMS5 Will Affect Our Decision to Call the Notes

It is more likely we will call the notes prior to their maturity date if the modified CMS Spread results in interest accruing on the notes at a rate greater than that
which would be payable on a conventional, fixed-rate debt security of Citigroup Inc. of comparable maturity. If we call 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 Yield on the Notes May Be Lower Than the Yield On a Standard Debt Security of Comparable Maturity

Unless called by us, from and including April 29, 2014 to but excluding the maturity date, the notes will bear interest at the per annum rate equal to the greater of
(i) 4 times the modified CMS Spread, subject to a maximum interest rate of 10.00% per annum for any interest period, and (ii) the minimum interest rate of 0%. As a result,
the effective yield on your notes may be less than that which would be payable on a conventional fixed-rate, non-callable debt security of Citigroup Inc. of comparable
maturity.

The Notes are Subject to the Credit Risk of Citigroup Inc. and Any Actual or Anticipated Changes to Its Credit Ratings and Credit Spreads May Adversely
Affect the Value of the Notes

You are subject to the credit risk of Citigroup Inc. If we default on our 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 our creditworthiness. Any decline, or anticipated decline, in
our credit ratings or increase, or anticipated increase, in the credit spreads charged by the market for taking our credit risk is likely to adversely affect the value of the
notes.

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

We believe that the value of the notes in any secondary market at any time will be affected by the CMS Spread at that time and a number of other factors. Some of
these factors are interrelated in complex ways. As a result, the effect of any one factor may be offset or magnified by the effect of another factor. The following paragraphs
describe what we expect to be the impact on the value of the notes of a change in a specific factor, assuming all other conditions remain constant.

The CMS Spread. We expect that the value of the notes at any time will depend on whether and to what degree, if any, CMS30 exceeds CMS5 by more than
0.50%. In general, we expect that a decrease in the CMS Spread will cause a decrease in the value of the notes because the interest, if any, payable on the notes is based
on the modified CMS Spread. Conversely, in general, we expect that an increase in the CMS Spread may tend to cause an increase in the value of the notes. However, an
increase in the CMS Spread may increase the likelihood of the notes being called. CMS30, CMS5 and the economic relationship between the two will be influenced by
complex and interrelated political, economic, financial and other factors that can affect the money markets generally and the London interbank market in particular.

Volatility of the CMS Spread. Volatility is the term used to describe the size and frequency of market fluctuations. If the volatility of the CMS Spread changes, the
value of the notes may change.

Call Right. Our ability to call the notes prior to their maturity date is likely to limit their value. If we did not have the right to call the notes, their value could be
significantly different.

Interest Rates. We expect that the value of the notes will be affected by changes in U.S. interest rates. In general, if U.S. interest rates increase, the value of the
notes may decrease.

Time Premium or Discount. As a result of a "time premium" or "discount," the notes may trade at a value above or below that which would be expected based
on the level of interest rates and the value of the CMS Spread, which disparity is expected to be larger the longer the time remaining to the maturity of the Notes. A "time
premium" or "discount" results from expectations concerning the value of the CMS Spread during the period prior to the maturity of the notes. However, as the time
remaining to maturity decreases, this "time premium" or "discount" may diminish, increasing or decreasing the value of the notes.
Hedging Activities. Hedging activities related to the notes by one or more of our affiliates will likely involve trading in one or more instruments, such as options,
swaps or futures, based upon CMS30, CMS5, the CMS Spread, or by taking


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positions in any other available securities or instruments that we may wish to use in connection with such hedging. It is possible that our affiliates or we may profit from
our hedging activity, even if the value of the notes declines. Profit or loss from this hedging activity could affect the price at which Citigroup Inc.'s affiliate Citigroup
Global Markets may be willing to purchase your notes in the secondary market.

Fees and Projected Hedging Profits. The price, if any, at which Citigroup Global Markets is willing to purchase the notes in secondary market transactions will
likely be lower than the public offering price since the public offering price of the notes will include, 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 transaction. 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 Citigroup Global Markets, as a result of dealer discounts, mark-ups or
other transaction costs.

Credit Ratings, Financial Condition, and Results of Citigroup Inc. Actual or anticipated changes in our credit rating or financial condition may affect the value
of the notes. The notes are subject to our credit risk.
We want you to understand that the impact of one of the factors specified above may offset some or all of any change in the value of the notes attributable to
another factor.

The Historical Value of the CMS Spread Is Not an Indication of the Future Value of the CMS Spread

The historical value of the CMS Spread, which is included in this pricing supplement, should not be taken as an indication of the future value of the CMS Spread
during the term of the notes. Changes in the relative values of CMS30 and CMS5 will affect the value of the CMS Spread and thus the value of and interest payments on the
notes, but it is impossible to predict whether the relative values of CMS30 and CMS5 will rise or fall. The historical values do not give effect to the 0.50% deduction
reflected in the calculation of the modified CMS Spread.

The Notes Will Not Be Listed on Any Securities Exchange, and Secondary Trading May Be Limited

The notes will not be listed on any securities exchange. Therefore, there may be little or no secondary market for the notes.

Citigroup Global Markets intends to make a secondary market in relation to the notes and to provide an indicative bid price on a daily basis. Any indicative bid
prices provided by Citigroup Global Markets shall be determined in Citigroup Global Markets' sole discretion, taking into account prevailing market conditions, and shall
not be a representation by Citigroup Global Markets that any instrument can be purchased or sold at such prices (or at all).

Notwithstanding the above, Citigroup Global Markets may suspend or terminate making a market and providing indicative bid prices without notice, at any time
and for any reason. Consequently, there may be no market for the notes and investors should not assume that such a market will exist. Accordingly, an investor must be
prepared to hold the notes until the maturity date. Where a market does exist, to the extent that an investor wants to sell the notes, the price may, or may not, be at a discount
from the stated principal amount.

The Calculation Agent, Which is an Affiliate of the Issuer, Will Make Determinations With Respect to the Notes

Citibank, N.A., which is acting as the calculation agent for the notes, is an affiliate of ours. As calculation agent, Citibank, N.A. will determine the CMS Spread
on any interest determination date and will calculate the interest payable to you on each interest payment date. Any of these determinations made by Citibank, N.A., in its
capacity as calculation agent, including with respect to the calculation of the CMS30 or CMS5 in the event of their unavailability, may adversely affect the payments to you
on any interest payment date.
Citigroup Inc.'s Hedging Activity Could Result in a Conflict of Interest

In anticipation of the sale of the notes, one or more of our affiliates have entered into hedge transactions. This hedging activity may continue to involve trading in
instruments, such as options, swaps or futures, based upon CMS30, CMS5 and the CMS Spread. This hedging activity may present a conflict between your interest in the
notes and the interests


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our affiliates have in executing, maintaining and adjusting their hedge transactions because it could affect the price at which our affiliate Citigroup Global Markets may be
willing to purchase your notes in the secondary market. Since hedging the obligations under the notes involves risk and may be influenced by a number of factors, it is
possible that our affiliates may profit from the hedging activity, even if the value of the notes declines.

You Will Have No Rights Against the Publisher of CMS30 and CMS5

You will have no rights against the publisher of CMS30 and CMS5 even though the amount you receive on an interest payment date will depend upon the value of
the CMS Spread. The publisher of CMS30 and CMS5 is not in any way involved in this offering and has no obligations relating to the notes or the holders of the notes.


DESCRIPTION OF THE NOTES

You should read this pricing supplement together with the accompanying prospectus supplement and prospectus in connection with your investment in the Notes.
The description in this pricing supplement of the particular terms of the Notes supplements, and to the extent inconsistent therewith replaces, the descriptions of the
general terms and provisions of the debt securities set forth in the accompanying prospectus supplement and prospectus.

You may access the prospectus supplement and prospectus on the SEC Web site at www.sec.gov as follows (or if such address has changed, by reviewing our filing
for December 20, 2012 on the SEC Web site):


§
Prospectus Supplement dated December 20, 2012 and Prospectus dated May 12, 2011:
http://www.sec.gov/Archives/edgar/data/831001/000119312512509203/d448811d424b2.htm
General

The Callable Leveraged CMS Spread Notes Due April 29, 2033 (the "Notes") are callable securities offered by Citigroup Inc. and have a maturity of
approximately twenty years.

For one year after issuance, from and including April 29, 2013 to but excluding April 29, 2014, the Notes will pay interest at a rate of 10.00% per annum. Unless
called by us, from and including April 29, 2014 to but excluding the maturity date, the interest rate on the Notes will be variable and will be reset quarterly based on the
difference between a 30-year constant maturity swap rate, and a 5-year constant maturity swap rate (as described in the section "-- Interest"). All payments on the Notes
are subject to the credit risk of Citigroup Inc.

Unless earlier redeemed, the Notes mature on April 29, 2033, which we refer to as the "Maturity Date." If the Maturity Date falls on a day that is not a Business
Day, the payment to be made on the Maturity Date will be made on the next succeeding Business Day with the same force and effect as if made on the Maturity Date, and no
additional interest will accrue as a result of such delayed payment. We may call the Notes, in whole and not in part, for mandatory redemption on any quarterly Interest
Payment Date beginning on April 29, 2018 upon not less than five Business Days' notice. Following an exercise of our call right, you will receive an amount in cash equal
to 100% of the stated principal amount of Notes you then hold on that Interest Payment Date, plus accrued and unpaid interest, if any.

The Notes are unsecured senior debt securities issued by Citigroup Inc. The Notes will rank equally with all other unsecured and unsubordinated debt of
Citigroup Inc.

Each Note represents a stated principal amount of $1,000. You may transfer the Notes only in units of $1,000 and integral multiples of $1,000. You will not have
the right to receive physical certificates evidencing your ownership except under limited circumstances. Instead, we will issue the Notes in the form of a global certificate,
which will be held by The Depository Trust Company ("DTC") or its nominee. Direct and indirect participants in DTC will record beneficial ownership of the Notes by
individual investors. Accountholders in the Euroclear or Clearstream Banking clearance systems may hold beneficial interests in the Notes through the accounts those
systems maintain with DTC. You should refer to the section "Description of Debt Securities--Book-Entry Procedures and Settlement" in the accompanying prospectus.

Reference is made to the accompanying prospectus supplement and prospectus for a detailed summary of additional provisions of the Notes and of the senior debt
indenture under which the Notes will be issued.


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Interest

For one year after issuance, from and including April 29, 2013 to but excluding April 29, 2014, the Notes bear interest at the rate of 10.00% per annum.

The amount of any quarterly interest payment on the Notes from and including April 29, 2014 to but excluding the Maturity Date or the date when the Notes are
called will vary and may be zero. We expect to pay interest, if any, in cash quarterly on the 29th day of each January, April, July and October, beginning July 29, 2013 and
ending on the maturity date or the date when the Notes are called, each an Interest Payment Date. Each three-month period from and including an Interest Payment Date to
but excluding the next Interest Payment Date is an Interest Period. For Interest Periods beginning on or after April 29, 2014, the interest rate will be reset on the second
Business Day prior to the beginning of each such quarterly Interest Period, which we refer to as an Interest Determination Date. During each Interest Period interest will be
calculated on the basis of a 360-day year consisting of twelve 30-day months.

Unless called by us, from and including April 29, 2014 to but excluding the maturity date, the Notes bear interest during each Interest Period at a per annum rate
that will equal the greater of (i) 4 times the modified CMS Spread, subject to a maximum interest rate of 10.00% per annum for any Interest Period, and (ii) the minimum
interest rate of 0%.

The Modified CMS Spread equals the CMS Spread minus 0.50%. The CMS Spread equals the 30-year Constant Maturity Swap Rate ("CMS30") minus the
5-year Constant Maturity Swap Rate ("CMS5"), each as published on Reuters page "ISDAFIX1" (or any successor page as determined by the calculation agent) at 11:00
am (New York time) on the applicable Interest Determination Date.

Beginning on April 29, 2014, if CMS30 is less than or equal to CMS5 plus 0.50% on an Interest Determination Date, then no interest will accrue on the Notes for
the Interest Period to which that Interest Determination Date relates. As a result, interest payments could be zero on any Interest Payment Date after April 29,
2014. Additionally, because the interest applicable to the Notes cannot exceed 10.00% per annum, the amount of interest, if any, payable on the Notes for any Interest
Period will not exceed $25.00 per Note even if the Modified CMS Spread applicable to such Interest Period is greater than approximately 2.50% (taking into account that
the Modified CMS Spread will be multiplied by 4 on the applicable Interest Determination Date). Furthermore, beginning on April 29, 2018, we have the right to call the
Notes on any Interest Payment Date. We are more likely to call the Notes at a time when interest is accruing on the Notes at a rate greater than that which would be payable
on a conventional, fixed-rate debt security of Citigroup Inc. of comparable maturity. If we call the Notes, you may not be able to invest in other securities with a similar
yield and level of risk. You should refer to the section "Risk Factors Relating to the Notes" for further information.

Interest, if any, 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, except that interest payable at maturity or upon redemption will be paid to the persons who hold the Notes at maturity or redemption, as applicable. If an
Interest Payment Date falls on a day that is not a Business Day, the interest payment to be made on that Interest Payment Date will be made on the next succeeding Business
Day, unless that day falls in the next calendar month, in which case the Interest Payment Date will be the first preceding Business Day. Such payment will have the same
force and effect as if made on that Interest Payment Date, and no additional interest will accrue as a result of delayed payment.

A "Business Day" means any day that is not a Saturday, a Sunday or a day on which the securities exchanges or banking institutions or trust companies in the City
of New York are authorized or obligated by law or executive order to close.

Payment at Maturity

The notes will mature on April 29, 2033. Subject to the credit risk of Citigroup Inc., at maturity, unless we have previously called your notes, you will receive for
each note you hold an amount in cash equal to $1,000 plus any accrued and unpaid interest.


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Hypothetical Interest Payment Examples

The table below presents examples of hypothetical quarterly interest payments to be made on an Interest Payment Date following the first year of the term of the
Notes based on various hypothetical CMS Spread values. The table and the following examples of hypothetical interest payment calculations are based on the following
terms:


·
Principal amount: $1,000

·
Multiplier: 4

·
Maximum Interest Rate: 10.00%

Hypothetical CMS
Hypothetical Interest
Hypothetical Quarterly
Example
Spread(1)
Rate per annum(2)
Interest Payment(3)
1

-1.40%
0.00%
$0.00
2

-1.20%
0.00%
$0.00
3

-1.00%
0.00%
$0.00
4

-0.80%
0.00%
$0.00
5

-0.60%
0.00%
$0.00
6

-0.40%
0.00%
$0.00
7

-0.20%
0.00%
$0.00
8

0.00%
0.00%
$0.00
9

0.50%
0.00%
$0.00
10

0.70%
0.80%
$2.00
11

0.90%
1.60%
$4.00
12

1.10%
2.40%
$6.00
13

1.30%
3.20%
$8.00
14

1.50%
4.00%
$10.00
15

1.70%
4.80%
$12.00
16

1.90%
5.60%
$14.00
17

2.10%
6.40%
$16.00
18

2.30%
7.20%
$18.00
19

2.50%
8.00%
$20.00
20

2.70%
8.80%
$22.00
21

2.90%
9.60%
$24.00
22

3.10%
10.00%
$25.00
23

3.30%
10.00%
$25.00
24

3.50%
10.00%
$25.00
_______________________________
(1) Hypothetical CMS Spread = (CMS30 ­ CMS5), where CMS30 and CMS5 are determined on the second business day prior to the beginning of the applicable Interest
Period
(2) Hypothetical Interest Rate (per annum) for the quarterly Interest Period = the greater of (i) 4 * (CMS Spread ­ 0.50%), subject to a maximum interest rate of 10.00%,
and (ii) 0%.
(3) Hypothetical Quarterly Interest Payment on the Note = (Hypothetical Interest Rate (per annum) * 1,000) / 4.
The examples are for purposes of illustration only. The actual Interest Payment for each Interest Period will depend on the actual values of the CMS Spread and
other relevant parameters for determining the amount of interest, if any, holders will receive on any Interest Payment Date based on the Modified CMS Spread.

Determination of the CMS30 and the CMS5

If a rate for CMS30 or CMS5 is not published on Reuters page "ISDAFIX1" (or any successor page as determined by the calculation agent) on any Business Day
on which the rate for CMS30 and CMS5 is required, then the calculation agent will determine the applicable rate on the basis of the mid-market semi-annual swap rate
quotations to the calculation agent provided by five leading swap dealers in the New York City interbank market (the "reference banks") at approximately 11:00 a.m., New
York City time, on such day, and, for this purpose, the mid-market semi-annual swap rate means the mean of the bid and offered rates for the semi-annual fixed leg,
calculated on a 30/360 day count basis, of a fixed-for-floating U.S. Dollar interest rate swap transaction with a 30-year or 5-year maturity, as applicable, commencing on
such day and in a representative amount with an acknowledged dealer of good credit in the swap market, where the floating leg, calculated on an actual/360 day count
basis, is equivalent to USD-LIBOR-BBA with a designated maturity of three months. The


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