Document:

Class A(2005-6) Terms Document

 Exhibit 4.1 
  
 EXECUTION COPY 
  

 MBNA CREDIT CARD MASTER NOTE TRUST 
  
 as Issuer 
  
 CLASS A(2005-6) TERMS DOCUMENT 
  
 dated as of August 25, 2005 
  
 to 
  
 MBNASERIES INDENTURE SUPPLEMENT 
  
 dated as of May 24, 2001 
  
 to

  
 INDENTURE 
  
 dated as of May 24, 2001 
  
 THE BANK OF NEW YORK 
  
 as Indenture Trustee 
  

 TABLE OF CONTENTS 
  

					
	 	 	 	  	Page

	 ARTICLE I
 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	 
			
	Section 1.01.	 	Definitions	  	1
	Section 1.02.	 	Governing Law; Submission to Jurisdiction; Agent for Service of Process	  	4
	Section 1.03.	 	Counterparts	  	5
	Section 1.04.	 	Ratification of Indenture and Indenture Supplement	  	5
		
	 ARTICLE II
 THE CLASS A(2005-6) NOTES
	  	 
			
	Section 2.01.	 	Creation and Designation	  	6
	Section 2.02.	 	Specification of Required Subordinated Amount and other Terms	  	6
	Section 2.03.	 	Interest Payment	  	6
	Section 2.04.	 	Payments of Interest and Principal	  	7
	Section 2.05.	 	Form of Delivery of Class A(2005-6) Notes; Depository; Denominations	  	7
	Section 2.06.	 	Delivery and Payment for the Class A(2005-6) Notes	  	7
	Section 2.07.	 	Targeted Deposits to the Accumulation Reserve Account	  	7
		
	 ARTICLE III
 REPRESENTATIONS AND WARRANTIES
	  	 
			
	Section 3.01.	 	Issuer’s Representations and Warranties	  	8

  

 -i- 

  
 THIS CLASS A(2005-6) TERMS
DOCUMENT (this “Terms Document”), by and between MBNA CREDIT CARD MASTER NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), having its principal office at Rodney Square
North, 1100 North Market Street, Wilmington, Delaware 19890, and THE BANK OF NEW YORK, a New York banking corporation ( the “Indenture Trustee”), is made and entered into as of August 25, 2005. 
  
 Pursuant to this Terms Document, the Issuer and the Indenture Trustee shall
create a new tranche of Class A Notes and shall specify the principal terms thereof. 
  
 ARTICLE I 
  
 Definitions and
Other Provisions of General Application 
  
 Section 1.01.
Definitions. For all purposes of this Terms Document, except as otherwise expressly provided or unless the context otherwise requires: 
  

	 	(1)	the terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well as the singular; 

  

	 	(2)	all other terms used herein which are defined in the Indenture Supplement or the Indenture, either directly or by reference therein, have the meanings assigned to them therein;

  

	 	(3)	all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting principles and, except as otherwise herein
expressly provided, the term “generally accepted accounting principles” with respect to any computation required or permitted hereunder means such accounting principles as are generally accepted in the United States of America at the date
of such computation; 

  

	 	(4)	all references in this Terms Document to designated “Articles,” “Sections” and other subdivisions are to the designated Articles, Sections and other subdivisions
of this Terms Document as originally executed; 

  

	 	(5)	the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Terms Document as a whole and not to any particular
Article, Section or other subdivision; 

  

	 	(6)	in the event that any term or provision contained herein shall conflict with or be inconsistent with any term or provision contained in the Indenture Supplement or the Indenture,
the terms and provisions of this Terms Document shall be controlling; 

  

	 	(7)	each capitalized term defined herein shall relate only to the Class A(2005-6) Notes and no other tranche of Notes issued by the Issuer; and 

  

	 	(8)	“including” and words of similar import will be deemed to be followed by “without limitation.” 

 “Accumulation Reserve Funding Period” shall mean, (a) if the Accumulation Period Length
is determined to be one (1) month, there shall be no Accumulation Reserve Funding Period and (b) otherwise, the period (x) commencing on the earliest to occur of (i) the Monthly Period beginning three (3) calendar months prior to the first Transfer
Date for which a budgeted deposit is targeted to be made into the Principal Funding sub-Account of the Class A(2005-6) Notes pursuant to Section 3.10(b) of the Indenture Supplement, (ii) the Monthly Period following the first Transfer Date
following and including the July 2008 Transfer Date for which the Quarterly Excess Available Funds Percentage is less than 2%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier than 24 months prior
to the Expected Principal Payment Date, (iii) the Monthly Period following the first Transfer Date following and including the January 2009 Transfer Date for which the Quarterly Excess Available Funds Percentage is less than 3%, but in such event
the Accumulation Reserve Funding Period shall not be required to commence earlier than 18 months prior to the Expected Principal Payment Date, and (iv) the Monthly Period following the first Transfer Date following and including the March 2009
Transfer Date for which the Quarterly Excess Available Funds Percentage is less than 4%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier than 16 months prior to the Expected Principal Payment Date
and (y) ending on the close of business on the last day of the Monthly Period preceding the earlier to occur of (i) the Expected Principal Payment Date for the Class A(2005-6) Notes and (ii) the date on which the Class A(2005-6) Notes are paid in
full. 
  
 “Base Rate” means, with respect to any
Monthly Period, the sum of (i) the Weighted Average Interest Rates for the Outstanding MBNAseries Notes, (ii) the Net Servicing Fee Rate (as such term is defined in the Series 2001-D Supplement) and (iii) so long as MBNA or The Bank of New York is
the Servicer, the Servicer Interchange Rate, in each case, for such Monthly Period. 
  
 “Class A(2005-6) Note” means any Note, substantially in the form set forth in Exhibit A-1 to the Indenture Supplement, designated therein as a Class A(2005-6) Note and duly executed and
authenticated in accordance with the Indenture. 
  
 “Class
A(2005-6) Noteholder” means a Person in whose name a Class A(2005-6) Note is registered in the Note Register. 
  
 “Class A(2005-6) Termination Date” means the earliest to occur of (a) the Principal Payment Date on which the Outstanding Dollar
Principal Amount of the Class A(2005-6) Notes is paid in full, (b) the Legal Maturity Date and (c) the date on which the Indenture is discharged and satisfied pursuant to Article VI thereof. 
  
 “Class A Required Subordinated Amount of Class B Notes” is
defined in Section 2.02(a). 
  
 “Class A Required
Subordinated Amount of Class C Notes” is defined in Section 2.02(b). 
  
 “Controlled Accumulation Amount” means $41,666,666.67; provided, however, if the Accumulation Period Length is determined to be less than twelve (12) months pursuant to Section
3.10(b)(ii) of the Indenture Supplement, the Controlled Accumulation Amount shall be the amount specified in the definition of “Controlled Accumulation Amount” in the Indenture Supplement. 
  

 2 

 “Excess Available Funds Percentage” means, with respect to any Transfer Date, the
amount, if any, by which the Portfolio Yield for the preceding Monthly Period exceeds the Base Rate for such Monthly Period. 
  
 “Expected Principal Payment Date” means August 16, 2010. 
  
 “Initial Dollar Principal Amount” means $500,000,000. 
  
 “Interest Payment Date” means the fifteenth day of each
month commencing October 17, 2005, or if such fifteenth day is not a Business Day, the next succeeding Business Day. 
  
 “Interest Period” means, with respect to any Interest Payment Date, the period from and including the previous Interest Payment Date (or
in the case of the initial Interest Payment Date, from and including the Issuance Date) through the day preceding such Interest Payment Date. 
  
 “Issuance Date” means August 25, 2005. 
  
 “Legal Maturity Date” means January 15, 2013. 
  
 “MBNAseries Servicer Interchange” means, with respect to any Monthly Period, an amount equal to the product of (a) the Servicer
Interchange (as such term is defined in the Series 2001-D Supplement) with respect to such Monthly Period and (b) a fraction the numerator of which is the Weighted Average Available Funds Allocation Amount for the MBNAseries for such Monthly Period
and the denominator of which is the Weighted Average Available Funds Allocation Amount for all series of Notes for such Monthly Period. 
  
 “Note Interest Rate” means a per annum rate equal to 4.50%. 
  
 “Paying Agent” means The Bank of New York. 
  
 “Portfolio Yield” means, with respect to any Monthly Period, the annualized percentage equivalent of a
fraction, the numerator of which is (a) the amount of Available Funds allocated to the MBNAseries pursuant to Section 501 of the Indenture, plus (b) any Interest Funding sub-Account Earnings on the related Transfer Date, plus
(c) any amounts to be treated as MBNAseries Available Funds pursuant to Sections 3.20(d) and 3.27(a) of the Indenture Supplement, plus (d) the MBNAseries Servicer Interchange for such Monthly Period, minus (e) the excess,
if any, of the sum of the PFA Prefunding Earnings Shortfall plus the PFA Accumulation Earnings Shortfall over the sum of the aggregate amount to be treated as MBNAseries Available Funds for such Monthly Period pursuant to Sections
3.04(a)(ii) and 3.25(a) of the Indenture Supplement plus any other amounts applied to cover earnings shortfalls on amounts in the Principal Funding sub-Account for any tranche of MBNAseries Notes for such Monthly Period,
minus (f) the MBNAseries Investor Default Amount for such Monthly Period, and the denominator of which is the Weighted Average Available Funds Allocation Amount for the MBNAseries for such Monthly Period. 
  
 “Predecessor Note” means, with respect to any particular
Note, every previous Note evidencing all or a portion of the same debt as that evidenced by such particular Note; and, for the purpose of this definition, any Note authenticated and delivered under Section 306 of the Indenture 
  

 3 

 in lieu of a mutilated, lost, destroyed or stolen Note shall be deemed to evidence the same debt as the mutilated, lost,
destroyed or stolen Note. 
  
 “Quarterly Excess Available
Funds Percentage” means, with respect to the July 2008 Transfer Date and each Transfer Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Available Funds Percentages with respect to the
immediately preceding three Monthly Periods and the denominator of which is three. 
  
 “Record Date” means, for any Transfer Date, the last Business Day of the preceding Monthly Period. 
  
 “Required Accumulation Reserve sub-Account Amount” means, with respect to any Monthly Period during the Accumulation Reserve Funding
Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2005-6) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer;
provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change. 
  
 “Servicer Interchange Rate” means, for any Monthly Period,
the percentage equivalent of a fraction, the numerator of which is the MBNAseries Servicer Interchange for such Monthly Period, and the denominator of which is the Weighted Average Available Funds Allocation Amount for the MBNAseries for such
Monthly Period. 
  
 “Stated Principal Amount”
means $500,000,000. 
  
 “Weighted Average Interest
Rates” means, with respect to any Outstanding Notes of a class or tranche of the MBNAseries, or of all of the Outstanding Notes of the MBNAseries, on any date, the weighted average (weighted based on the Outstanding Dollar Principal Amount
of the related Notes on such date) of the following rates of interest: 
  
 (a) in the case of a tranche of Dollar Interest-bearing Notes with no Derivative Agreement for interest, the rate of interest applicable to that tranche on that date; 
  
 (b) in the case of a tranche of Discount Notes, the rate of accretion (converted to an accrual rate) of that tranche on that
date; 
  
 (c) in the case of a tranche of Notes with a payment due
under a Performing Derivative Agreement for interest, the rate at which payments by the Issuer to the applicable Derivative Counterparty accrue on that date (prior to the netting of such payments, if applicable); and 
  
 (d) in the case of a tranche of Notes with a non-Performing Derivative
Agreement for interest, the rate specified for that date in the related terms document. 
  
 Section 1.02. Governing Law; Submission to Jurisdiction; Agent for Service of Process. This Terms Document shall be governed by and construed in accordance with the laws of the State of Delaware, without regard
to principles of conflict of laws. The parties hereto declare 

  

 4 

 
that it is their intention that this Terms Document shall be regarded as made under the laws of the State of Delaware and that the laws of said State shall
be applied in interpreting its provisions in all cases where legal interpretation shall be required. Each of the parties hereto agrees (a) that this Terms Document involves at least $100,000.00, and (b) that this Terms Document has been entered into
by the parties hereto in express reliance upon 6 DEL. C. § 2708. Each of the parties hereto hereby irrevocably and unconditionally agrees (a) to be subject to the jurisdiction of the courts of the State of Delaware and of the federal courts
sitting in the State of Delaware, and (b)(1) to the extent such party is not otherwise subject to service of process in the State of Delaware, to appoint and maintain an agent in the State of Delaware as such party’s agent for acceptance of
legal process, and (2) that, to the fullest extent permitted by applicable law, service of process may also be made on such party by prepaid certified mail with a proof of mailing receipt validated by the United States Postal Service constituting
evidence of valid service, and that service made pursuant to (b)(1) or (2) above shall, to the fullest extent permitted by applicable law, have the same legal force and effect as if served upon such party personally within the State of Delaware.

  
 Section 1.03. Counterparts. This Terms Document may be
executed in any number of counterparts, each of which so executed will be deemed to be an original, but all such counterparts will together constitute but one and the same instrument. 
  
 Section 1.04. Ratification of Indenture and Indenture Supplement. As supplemented by this Terms Document, each of the
Indenture and the Indenture Supplement is in all respects ratified and confirmed and the Indenture as so supplemented by the Indenture Supplement as so supplemented and this Terms Document shall be read, taken and construed as one and the same
instrument. 
  
 [END OF ARTICLE I] 
  

 5 

 ARTICLE II 
  
 The Class A(2005-6) Notes 
  
 Section 2.01. Creation and Designation. There is hereby created a tranche of MBNAseries Class A Notes to be issued pursuant to the Indenture and
the MBNAseries Indenture Supplement to be known as the “MBNAseries Class A(2005-6) Notes.” 
  
 Section 2.02. Specification of Required Subordinated Amount and other Terms. 
  
 (a) For the Class A(2005-6) Notes for any date of determination, the Class A Required Subordinated Amount of Class B Notes
will be an amount equal to 8.82353% of (i) the Adjusted Outstanding Dollar Principal Amount of the Class A(2005-6) Notes on such date or (ii) if an Early Redemption Event with respect to the Class A(2005-6) Notes shall have occurred, if an Event of
Default and acceleration of the Class A(2005-6) Notes shall have occurred or if the Class A Usage of the Class B Required Subordinated Amount for such tranche of Class A Notes is greater than zero, the Adjusted Outstanding Dollar Principal Amount of
the Class A(2005-6) Notes as of close of business on the day immediately preceding the occurrence of such Early Redemption Event, such Event of Default and acceleration or the date on which the Class A Usage of Class B Required Subordinated Amount
exceeded zero. 
  
 (b) For the Class A(2005-6) Notes for any date
of determination, the Class A Required Subordinated Amount of Class C Notes will be an amount equal to 8.82353% of (i) the Adjusted Outstanding Dollar Principal Amount of the Class A(2005-6) Notes on such date or (ii) if an Early Redemption Event
with respect to the Class A(2005-6) Notes shall have occurred, if an Event of Default and acceleration of the Class A(2005-6) Notes shall have occurred or if the Class A Usage of the Class C Required Subordinated Amount for such tranche of Class A
Notes is greater than zero, the Adjusted Outstanding Dollar Principal Amount of the Class A(2005-6) Notes as of close of business on the day immediately preceding the occurrence of such Early Redemption Event, such Event of Default and acceleration
or the date on which the Class A Usage of Class C Required Subordinated Amount exceeded zero. 
  
 (c) The Issuer may change the percentages set forth in clause (a) or (b) above without the consent of any Noteholder so long as the Issuer has (i) received written confirmation from each Note Rating Agency that has
rated any Outstanding Notes of the MBNAseries that the change in either of such percentages will not result in a Ratings Effect with respect to any Outstanding Class A(2005-6) Notes and (ii) delivered to the Indenture Trustee and the Note Rating
Agencies a Master Trust Tax Opinion and an Issuer Tax Opinion. 
  
 Section 2.03. Interest Payment. 
  
 (a) For each
Interest Payment Date, the amount of interest due with respect to the Class A(2005-6) Notes shall be an amount equal to one-twelfth of the product of (i) the Note Interest Rate, times (ii) the Outstanding Dollar Principal Amount of the Class
A(2005-6) Notes determined as of the Record Date preceding the related Transfer Date; provided, however, that for the first Interest Payment Date the amount of interest due is $3,125,000. Interest on the Class A(2005-6) Notes will be calculated on
the basis of a 360-day year and twelve 30-day months. 
  

 6 

 (b) Pursuant to Section 3.03 of the Indenture Supplement, on each Transfer Date, the Indenture
Trustee shall deposit into the Class A(2005-6) Interest Funding sub-Account the portion of MBNAseries Available Funds allocable to the Class A(2005-6) Notes. 
  
 Section 2.04. Payments of Interest and Principal. 
  
 (a) Any installment of interest or principal, if any, payable on any Class A(2005-6) Note which is punctually paid or duly provided for by the Issuer and
the Indenture Trustee on the applicable Interest Payment Date or Principal Payment Date shall be paid by the Paying Agent to the Person in whose name such Class A(2005-6) Note (or one or more Predecessor Notes) is registered on the Record Date, by
wire transfer of immediately available funds to such Person’s account as has been designated by written instructions received by the Paying Agent from such Person not later than the close of business on the third Business Day preceding the date
of payment or, if no such account has been so designated, by check mailed first-class, postage prepaid to such Person’s address as it appears on the Note Register on such Record Date, except that with respect to Notes registered on the Record
Date in the name of the nominee of Cede & Co., payment shall be made by wire transfer in immediately available funds to the account designated by such nominee. 
  
 (b) The right of the Class A(2005-6) Noteholders to receive payments from the Issuer will terminate on the first Business
Day following the Class A(2005-6) Termination Date. 
  
 Section
2.05. Form of Delivery of Class A(2005-6) Notes; Depository; Denominations. 
  
 (a) The Class A(2005-6) Notes shall be delivered in the form of a global Registered Note as provided in Sections 202 and 301(i) of the Indenture, respectively. 
  
 (b) The Depository for the Class A(2005-6) Notes shall be The Depository
Trust Company, and the Class A(2005-6) Notes shall initially be registered in the name of Cede & Co., its nominee. 
  
 (c) The Class A(2005-6) Notes will be issued in minimum denominations of $5,000 and multiples of $1,000 in excess of that amount. 
  
 Section 2.06. Delivery and Payment for the Class A(2005-6) Notes. The
Issuer shall execute and deliver the Class A(2005-6) Notes to the Indenture Trustee for authentication, and the Indenture Trustee shall deliver the Class A(2005-6) Notes when authenticated, each in accordance with Section 303 of the
Indenture. 
  
 Section 2.07. Targeted Deposits to the
Accumulation Reserve Account. 
  
 The deposit targeted to be
made to the Accumulation Reserve Account for any Monthly Period during the Accumulation Reserve Funding Period will be an amount equal to the Required Accumulation Reserve sub-Account Amount. 
  
 [END OF ARTICLE II] 
  

 7 

 ARTICLE III 
  
 Representations and Warranties 
  
 Section 3.01. Issuer’s Representations and Warranties. The Issuer makes the following representations and warranties as to the Collateral
Certificate on which the Indenture Trustee is deemed to have relied in acquiring the Collateral Certificate. Such representations and warranties speak as of the execution and delivery of this Terms Document, but shall survive until the termination
of this Terms Document. Such representations and warranties shall not be waived by any of the parties to this Terms Document unless the Issuer has obtained written confirmation from each Note Rating Agency that there will be no Ratings Effect with
respect to such waiver. 
  
 (a) The Indenture creates a valid and
continuing security interest (as defined in the Delaware UCC) in the Collateral Certificate in favor of the Indenture Trustee, which security interest is prior to all other liens, and is enforceable as such as against creditors of and purchasers
from the Issuer. 
  
 (b) The Collateral Certificate constitutes
either an “account,” a “general intangible,” an “instrument,” or a “certificated security,” each within the meaning of the Delaware UCC. 
  
 (c) At the time of the transfer and assignment of the Collateral Certificate to the Indenture Trustee pursuant to the
Indenture, the Issuer owned and had good and marketable title to the Collateral Certificate free and clear of any lien, claim or encumbrance of any Person. 
  
 (d) The Issuer has caused, within ten days of the execution of the Indenture, the filing of all appropriate financing statements in the proper filing
office in the appropriate jurisdictions under applicable law in order to perfect the security interest in the Collateral Certificate granted to the Indenture Trustee pursuant to the Indenture. 
  
 (e) Other than the security interest granted to the Indenture Trustee
pursuant to the Indenture, the Issuer has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed the Collateral Certificate. The Issuer has not authorized the filing of and is not aware of any financing statements against
the Issuer that include a description of collateral covering the Collateral Certificate other than any financing statement relating to the security interest granted to the Indenture Trustee pursuant to the Indenture or any financing statement that
has been terminated. The Issuer is not aware of any judgment or tax lien filings against the Issuer. 
  
 (f) All original executed copies of the Collateral Certificate have been delivered to the Indenture Trustee. 
  
 (g) At the time of the transfer and assignment of the Collateral Certificate
to the Indenture Trustee pursuant to the Indenture, the Collateral Certificate had no marks or notations indicating that it has been pledged, assigned or otherwise conveyed to any Person other than the Indenture Trustee. 
  
 [END OF ARTICLE III] 
  

 8 

 IN WITNESS WHEREOF, the parties hereto have caused this Terms Document to be duly executed, all as of the
day and year first above written. 
  

			
	 MBNA CREDIT CARD MASTER NOTE TRUST, by MBNA AMERICA BANK,
 NATIONAL ASSOCIATION, as Beneficiary
 and not in its individual capacity

		
	By:	 	 /s/ Kevin F. Sweeney

	 	 	Kevin F. Sweeney
	 	 	First Vice President
	
	THE BANK OF NEW YORK, as Indenture Trustee and not in its individual capacity
		
	By:	 	 /s/ Jonathan Farber

	Name:	 	Jonathan Farber
	Title:	 	Assistant Vice President

  
 [Signature Page
to the Class A(2005-6) Terms Document]Form of Note for Citigroup Funding Inc.'s 8.25% Equity Linked Securities

 Exhibit 4.01 
  
 THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A
NOMINEE THEREOF. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO A NOMINEE
OF DTC OR BY DTC OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF DTC TO CITIGROUP FUNDING INC. OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
  

			
	No. R-1	 	INITIAL PRINCIPAL AMOUNT
	CUSIP: 17308C 809	 	REPRESENTED $92,500,000
	ISIN: US17308C8091	 	representing 9,250,000 ELKS
	 	 	($10 per ELKS)

  
 CITIGROUP FUNDING INC.

  
 8.25% Equity Linked Securities (ELKS®) Based Upon the Common Stock of 
 Halliburton Company Due August 28, 2006 
  
 Citigroup Funding Inc., a Delaware corporation (hereinafter referred to as the “Company,” which term includes any successor corporation
under the Indenture herein referred to), for value received and on condition that this Note is not redeemed by the Company prior to August 28, 2006 (the “Stated Maturity Date”), hereby promises to pay to CEDE & CO., or its
registered assigns, the Maturity Payment (as defined below), on the Stated Maturity Date. This Note will pay semi-annual coupon payments, is not subject to any sinking fund, is not subject to redemption at the option of the holder thereof prior to
the Stated Maturity Date, and is not subject to the defeasance provisions of the Indenture. The payments on this note are fully and unconditionally guaranteed by Citigroup Inc., a Delaware corporation (the “Guarantor”). 

 
 Payment of the Maturity Payment with respect to this Note shall be made
upon presentation and surrender of this Note at the corporate trust office of the Trustee in the Borough of Manhattan, The City and State of New York, in such coin or currency of the United States as at the time of payment is legal tender for
payment of public and private debts or, if applicable, in the common stock of Halliburton Company (“Halliburton”). 
  
 This Note is one of the series of 8.25% Equity Linked Securities Based Upon the Common Stock of Halliburton Company Due August 28, 2006 (the
“ELKS”). 

 COUPON 
  
 A coupon of $0.4194 per ELKS will be paid in cash on February 28, 2006 and a coupon of $0.4079 per ELKS will be paid in cash on August 28, 2006. The
February 28, 2006 coupon will be composed of $0.2099 of interest and a partial payment of an option premium in the amount of $0.2095. The August 28, 2006 coupon will be composed of $0.2042 of interest and a partial payment of an option premium in
the amount of $0.2037. Coupon payments will be payable to the persons in whose names the ELKS are registered at the close of business on the fifth Business Day preceding each Coupon Payment Date. If a Coupon Payment Date falls on a day that is not a
Business Day, the coupon payment to be made on such Coupon Payment Date will be made on the next succeeding Business Day with the same force and effect as if made on such Coupon Payment Date, and no additional interest will accrue as a result of
such delayed payment. 
  
 “Business Day” means
any day that is not a Saturday, a Sunday or a day on which 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. 
  
 The interest portion of the coupon will represent interest accruing at a rate
of 4.13% per annum from August 25, 2005 or from the most recent Coupon Payment Date to which the interest portion of the coupon has been paid or provided for until maturity. The interest portion of the coupon will be computed on the basis of a
360-day year of twelve 30-day months. 
  
 PAYMENT AT MATURITY 
  
 On the Stated Maturity Date, holders of the ELKS will receive for each ELKS
the Maturity Payment described below. 
  
 DETERMINATION OF THE MATURITY PAYMENT

  
 The Maturity Payment for each ELKS will equal either:

  

	 	•	 	a number of shares of Halliburton common stock equal to the Exchange Ratio, if the Trading Price of Halliburton common stock on any Trading Day after August 25, 2005 up to and
including the third Trading Day before the Stated Maturity Date (whether intra-day or at the close of trading on any day) is less than or equal to $44.15 (approximately 77.5% of the Initial Share Price), which price will be referred to as the
“Downside Trigger Price,” or 

  

	 	•	 	$10 in cash. 

  
 In lieu of any fractional share of Halliburton common stock otherwise payable in respect of any ELKS, at the Stated Maturity Date, the holder of this Note will receive an amount in cash equal to the value of such
fractional share. The number of full shares of Halliburton common stock, and any cash in lieu of a fractional share, to be delivered at the Stated Maturity Date to the holder of this Note will be calculated based on the aggregate number of ELKS held
by such holder. 

 The “Initial Share Price” equals $56.97, the price per share of Halliburton common stock
at the market close on August 22, 2005. 
  
 The “Exchange
Ratio” equals 0.17553. 
  
 A “Market Disruption
Event” means the occurrence or existence of any suspension of or limitation imposed on trading (by reason of movements in price exceeding limits permitted by any exchange or market or otherwise) of, or the unavailability, through a
recognized system of public dissemination of transaction information, of accurate price, volume or related information in respect of, (1) the shares of Halliburton common stock (or any other security for which a Trading Price or Closing Price must
be determined) on any exchange or market, or (2) any options contracts or futures contracts relating to the shares of Halliburton common stock (or other security), or any options on such futures contracts, on any exchange or market if, in each case,
in the determination of the calculation agent, any such suspension, limitation or unavailability is material. 
  
 A “Trading Day” means a day, as determined by the calculation agent, on which trading is generally conducted (or was scheduled to have
been generally conducted, but for the occurrence of a Market Disruption Event) on the New York Stock Exchange, the American Stock Exchange, the Nasdaq National Market, the Chicago Mercantile Exchange and the Chicago Board Options Exchange, and in
the over-the-counter market for equity securities in the United States. 
  
 The “Trading Price” of Halliburton common stock or any other capital stock on any date of determination will be (1) if the common stock or capital stock is listed on a national securities exchange on that date of
determination, any reported sale price, regular way, of the principal trading session on that date on the principal U.S. exchange on which the common stock or capital stock is listed or admitted to trading, (2) if the common stock or capital stock
is not listed on a national securities exchange on that date of determination, or if the reported sale price on such exchange is not obtainable (even if the common stock or capital stock is listed or admitted to trading on such exchange), and the
common stock or capital stock is quoted on the Nasdaq National Market, any reported sale price of the principal trading session on that date as reported on the Nasdaq, and (3) if the common stock or capital stock is not quoted on the Nasdaq on that
date of determination, or if the reported sale price on the Nasdaq is not obtainable (even if the common stock or capital stock is quoted on the Nasdaq), any reported sale price of the principal trading session on the over-the-counter market on that
date as reported on the OTC Bulletin Board, the National Quotation Bureau or a similar organization. The determination of the Trading Price by the calculation agent in the event of a Market Disruption Event may be deferred by the calculation agent
for up to five consecutive Trading Days on which a Market Disruption Event is occurring, but not past the Trading Day prior to the Stated Maturity Date. If no reported sale price of the principal trading session is available pursuant to clauses (1),
(2) or (3) above or if there is a Market Disruption Event, the Trading Price on any date of determination, unless deferred by the calculation agent as described in the preceding sentence, will be the arithmetic 

 mean, as determined by the calculation agent, of the bid prices of the common stock or capital stock obtained from as
many dealers in such stock (which may include Citigroup Global Markets Inc. or any of our other subsidiaries or affiliates), but not exceeding three such dealers, as will make such bid prices available to the calculation agent. A security
“quoted on the Nasdaq National Market” will include a security included for listing or quotation in any successor to such system and the term “OTC Bulletin Board” will include any successor to such service. 
  
 DILUTION ADJUSTMENTS 
  
 If Halliburton Company, after the closing date of the offering of the ELKS, 
  
 (1) pays a stock dividend or makes a distribution with respect to its common
stock in shares of the stock, 
  
 (2) subdivides or splits the
outstanding shares of its common stock into a greater number of shares, 
  
 (3) combines the outstanding shares of the common stock into a smaller number of shares, or 
  
 (4) issues by reclassification of shares of its common stock any shares of other common stock of Halliburton Company, 
  
 then, in each of these cases, the Exchange Ratio will be multiplied by a dilution adjustment
equal to a fraction, the numerator of which will be the number of shares of common stock outstanding immediately after the event, plus, in the case of a reclassification referred to in (4) above, the number of shares of other common stock of
Halliburton Company, and the denominator of which will be the number of shares of common stock outstanding immediately before the event. The Initial Share Price and the Downside Trigger Price will also be adjusted in that case in the manner
described below. 
  
 If Halliburton Company, after the closing
date, issues, or declares a record date in respect of an issuance of, rights or warrants to all holders of its common stock entitling them to subscribe for or purchase shares of its common stock at a price per share less than the Then-Current Market
Price of the common stock, other than rights to purchase common stock pursuant to a plan for the reinvestment of dividends or interest, then, in each case, the Exchange Ratio will be multiplied by a dilution adjustment equal to a fraction, the
numerator of which will be the number of shares of common stock outstanding immediately before the adjustment is effected, plus the number of additional shares of common stock offered for subscription or purchase pursuant to the rights or warrants,
and the denominator of which will be the number of shares of common stock outstanding immediately before the adjustment is effected by reason of the issuance of the rights or warrants, plus the number of additional shares of common stock which the
aggregate offering price of the total number of shares of common stock offered for subscription or purchase pursuant to the rights or warrants would purchase at the Then-Current Market Price of the common stock, which will be determined by
multiplying the total number of shares so offered for subscription or purchase by the exercise price of the rights or warrants and 

 dividing the product obtained by the Then-Current Market Price. To the extent that, after the expiration of the rights or
warrants, the shares of common stock offered thereby have not been delivered, the Exchange Ratio will be further adjusted to equal the Exchange Ratio which would have been in effect had the adjustment for the issuance of the rights or warrants been
made upon the basis of delivery of only the number of shares of common stock actually delivered. The Initial Share Price and the Downside Trigger Price will also be adjusted in that case in the manner described below. 
  
 If Halliburton Company, after the closing date, declares or pays a dividend
or makes a distribution to all holders of the common stock of any class of its capital stock, the capital stock of one or more of its subsidiaries, evidences of its indebtedness or other non-cash assets, excluding any dividends or distributions
referred to in the above paragraph and excluding any issuance or distribution to all holders of its common stock, in the form of Marketable Securities, of capital stock of one or more of its subsidiaries, or issues to all holders of its common stock
rights or warrants to subscribe for or purchase any of its or one or more of its subsidiaries’ securities, other than rights or warrants referred to in the above paragraph, then, in each of these cases, the Exchange Ratio will be multiplied by
a dilution adjustment equal to a fraction, the numerator of which will be the Then-Current Market Price of one share of the common stock, and the denominator of which will be the Then-Current Market Price of one share of the common stock, less the
fair market value (as determined by a nationally recognized independent investment banking firm retained for this purpose by the Company, whose determination will be final) as of the time the adjustment is effected of the portion of the capital
stock, assets, evidences of indebtedness, rights or warrants so distributed or issued applicable to one share of common stock. The Initial Share Price and the Downside Trigger Price will also be adjusted in that case in the manner described below.
If any capital stock declared or paid as a dividend or otherwise distributed or issued to all holders of Halliburton common stock consists, in whole or in part, of Marketable Securities, then the fair market value of such Marketable Securities will
be determined by the calculation agent by reference to the Trading Price of such capital stock. The fair market value of any other distribution or issuance referred to in this paragraph will be determined by a nationally recognized independent
investment banking firm retained for this purpose by Citigroup Funding, whose determination will be final. 
  
 Notwithstanding the foregoing, in the event that, with respect to any dividend or distribution to which the above paragraph would otherwise apply, the
denominator in the fraction referred to in the above formula is less than $1.00 or is a negative number, then the Company may, at its option, elect to have the adjustment provided by the above paragraph not be made and in lieu of this adjustment,
the Trading Price of Halliburton common stock on any Trading Day thereafter up to and including the third Trading Day before the Stated Maturity Date will be deemed to be equal to the fair market value of the capital stock, evidences of
indebtedness, assets, rights or warrants (determined, as of the date this dividend or distribution is made, by a nationally recognized independent investment banking firm retained for this purpose by the Company, whose determination will be final)
so distributed or issued applicable to one share of Halliburton common stock and, if the Trading Price of Halliburton common stock on any Trading Day thereafter, up to and including the third Trading Day before the Stated Maturity Date, is less than
or equal to approximately 77.5% of the Initial Share Price, each holder of the ELKS will have the right to receive at maturity cash in an amount per ELKS equal to the Exchange Ratio multiplied by such fair market value. 

 If Halliburton Company, after the closing date, declares a record date in respect of a distribution of
cash, other than any Permitted Dividends described below, any cash distributed in consideration of fractional shares of common stock and any cash distributed in a Reorganization Event referred to below, by dividend or otherwise, to all holders of
its common stock, or makes an Excess Purchase Payment, then the Exchange Ratio will be multiplied by a dilution adjustment equal to a fraction, the numerator of which will be the Then-Current Market Price of the common stock, and the denominator of
which will be the Then-Current Market Price of the common stock on the record date less the amount of the distribution applicable to one share of common stock which would not be a Permitted Dividend, or, in the case of an Excess Purchase Payment,
less the aggregate amount of the Excess Purchase Payment for which adjustment is being made at the time divided by the number of shares of common stock outstanding on the record date. The Initial Share Price and the Downside Trigger Price will also
be adjusted in that case in the manner described below. 
  
 For
the purposes of these adjustments: 
  
 A “Permitted
Dividend” is any cash dividend in respect of Halliburton common stock, other than a cash dividend that exceeds the immediately preceding cash dividend, and then only to the extent that the per share amount of this dividend results in an
annualized dividend yield on the common stock in excess of 10%. 
  
 An “Excess Purchase Payment” is the excess, if any, of (x) the cash and the value (as determined by a nationally recognized independent investment banking firm retained for this purpose by the Company, whose determination
will be final) of all other consideration paid by Halliburton with respect to one share of common stock acquired in a tender offer or exchange offer by Halliburton, over (y) the Then-Current Market Price of the common stock. 
  
 Notwithstanding the foregoing, in the event that, with respect to any
dividend, distribution or Excess Purchase Payment to which the sixth paragraph in this section would otherwise apply, the denominator in the fraction referred to in the formula in that paragraph is less than $1.00 or is a negative number, then the
Company may, at its option, elect to have the adjustment provided by the sixth paragraph in this section not be made and in lieu of this adjustment, the Trading Price of Halliburton common stock on any Trading Day thereafter up to and including the
third Trading Day before the Stated Maturity Date will be deemed to be equal to the sum of the amount of cash and the fair market value of other consideration (determined, as of the date this dividend or distribution is made, by a nationally
recognized independent investment banking firm retained for this purpose by the Company, whose determination will be final) so distributed or applied to the acquisition of the common stock in the tender offer or exchange offer applicable to one
share of Halliburton common stock and, if the Trading Price of Halliburton common stock on any Trading Day thereafter, up to and including the third Trading Day before the Stated Maturity Date, is less than or equal to $44.15 (approximately 77.5% of
the Initial Share Price), each holder of the ELKS will have the right to receive at maturity cash in an amount per ELKS equal to the Exchange Ratio multiplied by such sum. 

 If any adjustment is made to the Exchange Ratio as set forth above, an adjustment will also be made to
the Initial Share Price and the Downside Trigger Price. The required adjustment will be made by dividing the Initial Share Price and the Downside Trigger Price by the relevant dilution adjustment. 
  
 If Halliburton Company, after the closing date, issues or makes a
distribution to all holders of its common stock of the capital stock of one or more of its subsidiaries, in each case in the form of Marketable Securities, and if the Trading Price at any time after the date of this prospectus supplement up to and
including the third Trading Day before maturity (whether intra-day or at the close of trading on any day) is less than or equal to $44.15 (approximately 77.5% of the Initial Share Price), then, in each of these cases, each holder of the ELKS will
receive at maturity for each ELKS a combination of shares of Halliburton common stock equal to the Exchange Ratio and a number of shares of such Halliburton subsidiaries’ capital stock equal to the Exchange Ratio times the number of shares of
such subsidiaries’ capital stock distributed per share of Halliburton common stock. Following the record date for an event described in this paragraph, the “Trading Price” will equal the Trading Price of Halliburton common stock, plus
the Trading Price of such subsidiaries’ capital stock times the number of shares of such subsidiaries’ capital stock distributed per share of Halliburton common stock. In the event a distribution pursuant to this paragraph occurs,
following the record date for such distribution, the adjustment described in “—Dilution Adjustments” will also apply to such subsidiaries’ capital stock if any of the events described in “—Dilution Adjustments”
occurs with respect to such capital stock. 
  
 Each dilution
adjustment will be effected as follows: 
  

	 	•	 	in the case of any dividend, distribution or issuance, at the opening of business on the Business Day next following the record date for determination of holders of Halliburton
common stock entitled to receive this dividend, distribution or issuance or, if the announcement of this dividend, distribution, or issuance is after this record date, at the time this dividend, distribution or issuance was announced by Halliburton,

  

	 	•	 	in the case of any subdivision, split, combination or reclassification, on the effective date of the transaction, 

  

	 	•	 	in the case of any Excess Purchase Payment for which Halliburton announces, at or prior to the time it commences the relevant share repurchase, the repurchase price per share for
shares proposed to be repurchased, on the date of the announcement, and 

  

	 	•	 	in the case of any other Excess Purchase Payment, on the date that the holders of the repurchased shares become entitled to payment in respect thereof. 

  
 All dilution adjustments will be rounded upward or downward to the nearest
1/10,000th or, if there is not a nearest 1/10,000th, to the next lower 1/10,000th. No adjustment in the Exchange Ratio will be required unless the adjustment would require an increase or decrease of 

 at least one percent therein, provided, however, that any adjustments which by reason of this sentence are not required
to be made will be carried forward (on a percentage basis) and taken into account in any subsequent adjustment. If any announcement or declaration of a record date in respect of a dividend, distribution, issuance or repurchase requiring an
adjustment as described herein is subsequently canceled by Halliburton, or this dividend, distribution, issuance or repurchase fails to receive requisite approvals or fails to occur for any other reason, then, upon the cancellation, failure of
approval or failure to occur, the Exchange Ratio, the Initial Share Price and the Downside Trigger Price will be further adjusted to the Exchange Ratio, the Initial Share Price and the Downside Trigger Price which would then have been in effect had
adjustment for the event not been made. If a Reorganization Event described below occurs after the occurrence of one or more events requiring an adjustment as described herein, the dilution adjustments previously applied to the Exchange Ratio will
not be rescinded but will be applied to the Reorganization Event as provided for below. 
  
 The “Then-Current Market Price” of the common stock, for the purpose of applying any dilution adjustment, means the average Closing Price per share of common stock for the ten Trading Days immediately
before this adjustment is effected or, in the case of an adjustment effected at the opening of business on the Business Day next following a record date, immediately before the earlier of the date the adjustment is effected and the related Ex-Date.
For purposes of determining the Then-Current Market Price, the determination of the Closing Price by the calculation agent in the event of a Market Disruption Event, as described in the definition of Closing Price, may be deferred by the calculation
agent for up to five consecutive Trading Days on which a Market Disruption Event is occurring, but not past the Trading Day prior to the Stated Maturity Date. 
  

The “Closing Price” of Halliburton common stock (or any other security for which a Closing Price must be determined) on any date of
determination will be (1) if the common stock or other security is listed on a national securities exchange on that date of determination, the closing sale price or, if no closing sale price is reported, the last reported sale price on that date on
the principal U.S. exchange on which the common stock or other security is listed or admitted to trading, (2) if the common stock or other security is not listed on a national securities exchange on that date of determination, or if the closing sale
price or last reported sale price is not obtainable (even if the common stock or other security is listed or admitted to trading on such exchange), and the common stock or other security is quoted on the Nasdaq National Market, the closing sale
price or, if no closing sale price is reported, the last reported sale price on that date as reported on the Nasdaq, and (3) if the common stock or other security is not quoted on the Nasdaq on that date of determination or, if the closing sale
price or last reported sale price is not obtainable (even if the common stock or other security is quoted on the Nasdaq), the last quoted bid price for the common stock or other security in the over-the-counter market on that date as reported by the
OTC Bulletin Board, the National Quotation Bureau or a similar organization. The determination of the Closing Price by the calculation agent in the event of a Market Disruption Event may be deferred by the calculation agent for up to five
consecutive Trading Days on which a Market Disruption Event is occurring, but not past the Trading Day prior to the Stated Maturity Date. If no closing sale price or last reported sale price is available pursuant to clauses (1), (2) or (3) above or
if there is a Market Disruption Event, the Closing Price on any date of determination, unless deferred by the calculation agent as described in the 

 preceding sentence, will be the arithmetic mean, as determined by the calculation agent, of the bid prices of the common
stock or other security obtained from as many dealers in such stock (which may include Citigroup Global Markets Inc. or any of our other subsidiaries or affiliates), but not exceeding three such dealers, as will make such bid prices available to the
calculation agent. A security “quoted on the Nasdaq National Market” will include a security included for listing or quotation in any successor to such system and the term “OTC Bulletin Board” will include any successor to such
service. If, during any period of ten Trading Days used to calculate the Then-Current Market Price, there occurs any event requiring an adjustment to be effected as described herein, then the Closing Price for each Trading Day in such period of ten
Trading Days occurring prior to the day on which such adjustment is effected will be adjusted by being divided by the relevant dilution adjustment. 
  
 The “Ex-Date” relating to any dividend, distribution or issuance is the first date on which the shares of the common stock trade in the
regular way on their principal market without the right to receive this dividend, distribution or issuance. 
  
 In the event of any of the following “Reorganization Events:” 
  

	 	•	 	any consolidation or merger of Halliburton, or any surviving entity or subsequent surviving entity of Halliburton, with or into another entity, other than a merger or consolidation
in which Halliburton is the continuing corporation and in which the common stock outstanding immediately before the merger or consolidation is not exchanged for cash, securities or other property of Halliburton or another issuer,

  

	 	•	 	any sale, transfer, lease or conveyance to another corporation of the property of Halliburton or any successor as an entirety or substantially as an entirety,

  

	 	•	 	any statutory exchange of securities of Halliburton or any successor of Halliburton with another issuer, other than in connection with a merger or acquisition, or

  

	 	•	 	any liquidation, dissolution or winding up of Halliburton or any successor of Halliburton, 

  
 the Trading Price of Halliburton common stock on any Trading Day thereafter up to and including the third Trading Day before the Stated
Maturity Date will be deemed to be equal to the Transaction Value. 
  
 The “Transaction Value” will be the sum of: 
  
 (1) for any cash received in a Reorganization Event, the amount of cash received per share of common stock, 
  
 (2) for any property other than cash or Marketable Securities received in a Reorganization Event, an amount equal to the market value on the date the
Reorganization Event is consummated of that property received per share of common stock, as determined by a nationally recognized independent investment banking firm retained for this purpose by the Company, whose determination will be final, and

 (3) for any Marketable Securities received in a Reorganization Event, an amount equal to the Closing
Price per share of these Marketable Securities on the applicable Trading Day multiplied by the number of these Marketable Securities received for each share of common stock. 
  
 “Marketable Securities” are any perpetual equity securities or debt securities with a stated maturity after
the maturity date, in each case that are listed on a U.S. national securities exchange or reported by the Nasdaq National Market. The number of shares of any equity securities constituting Marketable Securities included in the calculation of
Transaction Value pursuant to clause (3) above will be adjusted if any event occurs with respect to the Marketable Securities or the issuer of the Marketable Securities between the time of the Reorganization Event and maturity that would have
required an adjustment as described above, had it occurred with respect to Halliburton common stock or Halliburton. Adjustment for these subsequent events will be as nearly equivalent as practicable to the adjustments described above. 
  
 If Halliburton common stock has been subject to a Reorganization Event and
the Trading Price of Halliburton common stock on any Trading Day thereafter, up to and including the third Trading Day before the Stated Maturity Date, is less than or equal to $44.15 (approximately 77.5% of the Initial Share Price), then each
holder of the ELKS will have the right to receive per $10 principal amount of ELKS (i) cash in an amount equal to the Exchange Ratio multiplied by the sum of clauses (1) and (2) in the definition of “Transaction Value” above and (ii) the
number of Marketable Securities received for each share of stock in the Reorganization Event multiplied by the Exchange Ratio. 
  
 GENERAL 
  
 This Note is one of a duly authorized issue of Debt Securities of the Company, issued and to be issued in one or more series under a Senior Debt Indenture, dated as of June 1, 2005 (the “Indenture”),
among the Company, the Guarantor, and The Bank of New York, as trustee (the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture reference is hereby made for a statement of the respective
rights, limitations of rights, duties and immunities thereunder of the Company, the Guarantor, the Trustee and the holders of the ELKS, and the terms upon which the ELKS are, and are to be, authenticated and delivered. 
  
 In case an Event of Default with respect to the ELKS shall have occurred and
be continuing, the principal of the ELKS may be declared due and payable in the manner and with the effect provided in the Indenture. In such case, the amount declared due and payable upon any acceleration permitted by the Indenture will be
determined by the calculation agent and will be equal to, with respect to this Note, the Maturity Payment calculated as though the Stated Maturity Date of this Note were the date of early repayment. In case of default at Maturity of this Note, this
Note shall bear interest, payable upon demand of the beneficial owners of this Note in accordance with the terms of the ELKS, from and after Maturity through the date when payment of such amount has been made or duly provided for, at the rate of
3.75% per annum on the unpaid amount (or the cash equivalent of such unpaid amount) due. 

 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the
modification of the rights and obligations of the Company, the Guarantor and the rights of the holders of the Debt Securities of each series to be affected under the Indenture at any time by the Company, the Guarantor and a majority in aggregate
principal amount of the Debt Securities at the time Outstanding of each series affected thereby. The Indenture also contains provisions permitting the holders of specified percentages in aggregate principal amount of the Debt Securities of any
series at the time Outstanding, on behalf of the holders of all Debt Securities of such series, to waive compliance by the Company and the Guarantor with certain provisions of the Indenture and certain past defaults under the Indenture and their
consequences. Any such consent or waiver by the holder of this Note shall be conclusive and binding upon such holder and upon all future holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or
in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. 
  
 The holder of this Note may not enforce such holder’s rights pursuant to the Indenture or the Notes except as provided in the Indenture. No reference herein to the Indenture and no provision of this Note or of
the Indenture shall alter or impair the obligation of the Company, or, failing which, the Guarantor to pay the Maturity Payment with respect to this Note, and to pay any interest on any overdue amount thereof at the time, place and rate, and in the
coin or currency, herein prescribed. 
  
 All terms used in this
Note which are defined in the Indenture but not in this Note shall have the meanings assigned to them in the Indenture. 
  
 Unless the certificate of authentication hereon has been executed by the Trustee by manual signature, this Note shall not be entitled to any benefit under
the Indenture or be valid or obligatory for any purposes. 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal.

  

			
	CITIGROUP FUNDING INC.
		
	By:	 	  

	Name:	 	Geoffrey S. Richards
	Title:	 	Vice President and Assistant Treasurer

  

			
	Corporate Seal
	
	Attest:
		
	By:	 	  

	Name:	 	Douglas C. Turnbull
	Title:	 	Assistant Secretary
	
	Dated August 25, 2005
	
	 CERTIFICATE OF AUTHENTICATION
     This is one of the Notes referred to in
     the within-mentioned Indenture.

	
	The Bank of New York,
	as Trustee
		
	By:	 	  

	 	 	Authorized Signatory

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