Citi in $3.5 Billion Offering

Cleary Gottlieb was counsel to the dealers led by Citigroup Global Markets Inc. in a public notes offering by Citibank, N.A.

Citibank offered $2 billion 3.050 percent notes due 2020 and $1.5 billion floating-rate notes due 2020 under the exemption from registration found in Section 3(a)(2) of the Securities Act. Cleary also acted as counsel to Citibank in establishing its notes program.

Citibank, a wholly owned subsidiary of Citigroup Inc., is a national banking association with over 1,350 branches around the world. Citibank’s principal offerings include consumer finance, credit cards, mortgage lending and retail banking products and services; investment banking, commercial banking, cash management, trade finance and e-commerce products and services; and private banking products and services.