Citigroup Inc. announcing the redemption, in whole, constituting €663,077,000 in aggregate principal amount, of its 3.625% Fixed /Floating Rate Callable Subordinated Notes due November 2017. The redemption date for the notes is February 28, 2017. The cash redemption price payable for the notes on the redemption date will equal par plus €1,584,754.03 in accrued and unpaid interest. The redemption announced is consistent with Citigroup's liability management strategy, and reflects its ongoing efforts to enhance the efficiency of its funding and capital structure. Since 2014, Citigroup redeemed or retired $36.8 billion of its securities, reducing Citigroup’s overall funding costs. Citigroup 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 Citigroup's net interest margin and borrowing costs, the overall remaining tenor of Citigroup's debt portfolio, capital impact, as well as overall market conditions. Citigroup's Basel III Tier 2 Capital will not be affected by the planned redemption. Beginning on the redemption date, the notes will no longer be considered outstanding and interest will no longer accrue on such securities.