Document:

Form of International Note for the Company's 5.130% Notes due November 12, 2019

 Exhibit 4.02 

This Note is a Global Security within the meaning of the Indenture hereinafter referred to and is registered in the name of the Depository
named below or a nominee of the Depository. This Note is not exchangeable for Notes registered in the name of a Person other than the Depository or its nominee except in the limited circumstances described herein and in the Indenture, and no
transfer of this Note (other than a transfer of this Note as a whole by the Depository to a nominee of the Depository or by a nominee of the Depository to the Depository or another nominee of the Depository) may be registered except in the limited
circumstances described herein. 
 Unless this certificate is presented by an authorized representative of The Euroclear System or
Clearstream Banking, société anonyme (each a “Depository”), to the Company or its agent for registration of transfer, exchange, or payment, and any certificate issued is registered in the name of Citivic Nominees Limited or
in such other name as is requested by an authorized representative of the Depository (and any payment is made to Citivic Nominees Limited or to such other entity as is requested by an authorized representative of the Depository), ANY TRANSFER,
PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Citivic Nominees Limited, has an interest herein. 

CITIGROUP INC. 
 5.130%
Notes due November 12, 2019 
  

			
	REGISTERED	  	REGISTERED        
		
		  	CUSIP: 172967 JA0          
		  	ISIN: XS1135556378          
		  	Common Code: 113555637          
		
	No. R-0001-INT	  	NZ$300,000,000          

 CITIGROUP INC., a Delaware corporation (the “Company”, which term includes any successor Person
under the Indenture), for value received, hereby promises to pay to Citivic Nominees Limited, or registered assigns, the principal sum of up to NZ$300,000,000 (or such other principal sum as has been most lately endorsed on the Schedule of Exchanges
of Interests hereto) on November 12, 2019 and to pay interest thereon from and including November 12, 2014 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually, on May 12
and November 12 of each year, commencing May 12, 2015 at the rate of 5.130% per annum, on each Interest Payment Date until the principal hereof is paid or made available for payment. The interest so payable, and punctually paid or
duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Note is registered at the close of business on the Record Date for such interest, which shall be the London business day
immediately preceding such Interest Payment Date. For these purposes, “London business day” means any day on which commercial banks settle payments and are open for general business in the City of London. 

 Any such interest not so punctually paid or duly provided for will forthwith cease to be payable
to the holder on such Record Date and may either be paid to the Person in whose name this Note is registered at the close of business on a subsequent Record Date, such subsequent Record Date to be not less than five days prior to the date of payment
of such defaulted interest, notice whereof shall be given to holders of Notes of this series not less than fifteen days prior to such subsequent Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of
any securities exchange on which the Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 

Interest hereon will be calculated on the basis of the actual number of days elapsed and the actual number of days in the year. 

If either an Interest Payment Date or the maturity of the Notes falls on a day that is not a Business Day, such Interest Payment Date or maturity will be the
next succeeding Business Day. If a date for payment of interest or principal on the Notes falls on a day that is not a Business Day in the place of payment, such payment will be made on the next succeeding Business Day in such place of payment as if
made on the date the payment was due. No interest will accrue on any amounts payable for the period from and after the due date for payment of such principal or interest. For these purposes, “Business Day” means any day which is a day on
which commercial banks settle payments and are open for general business in The City of New York, London, Auckland and Wellington. 

Payment of the principal of and interest on this Note will be made at the office or agency of the Trustee maintained for that purpose in
London in New Zealand dollars. 
 Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which
further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication
hereon has been executed by the Trustee or by an authenticating agent on behalf of the Trustee by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 2 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal. 
 Dated: November 12, 2014 
  

			
	CITIGROUP INC.
		
	 By:
	 	  

	 Title:
	 	Deputy Treasurer

  

			
	ATTEST:
		
	 By:
	 	  

	 Title:
	 	Assistant Secretary

  
 3 

 This is one of the Notes of the series issued under the within-mentioned Indenture. 

Dated: November 12, 2014 
  

			
	THE BANK OF NEW YORK MELLON,
	as Trustee
		
	By:	 	  

		 	 Name:

		 	 Title:

	
	-or-
	
	CITIBANK, N.A., LONDON OFFICE,
	as Authenticating Agent
		
	By:	 	  

		 	Name:
		 	Title:

  
 4 

 This Note is one of a duly authorized issue of Securities of the Company (the “Notes”),
issued and to be issued in one or more series under the Indenture, dated as of November 13, 2013 (as amended and supplemented to date, the “Indenture”), between the Company and The Bank of New York Mellon, as Trustee (the
“Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and the holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, initially limited in
aggregate principal to NZ$300,000,000. 
 So long as the Notes of this series are in the form of Global Securities only, all Notes of this
series will collectively be evidenced (a) by the Global Securities for this series registered in the name of Cede & Co. and bearing registration number R-0001-DTC-A (the “DTC Global Note”) and (b) by this Global Note
(the “International Global Note”). The DTC Global Note and the International Global Note will at all times collectively represent the aggregate principal amount of this series outstanding from time to time. If at any time a portion of the
International Global Note is exchanged for an interest in the DTC Global Note, the principal amount of the DTC Global Note shall be increased by the amount of such portion, and the DTC Global Note shall be endorsed on the Schedule of Exchanges of
Interests thereto to reflect such principal increase, subject to the limitation that in no event may the principal amount of the DTC Global Note be greater than the equivalent in U.S. dollars of NZ$0. If at any time a portion of the DTC Global Note
is exchanged for an interest in the International Global Note, the principal amount of the DTC Global Note shall be decreased by the amount of such portion, and the DTC Global Note shall be endorsed on the Schedule of Exchanges of Interests thereto
to reflect such principal decrease. To ascertain the U.S. dollar equivalent of the principal amount endorsed on the Schedule of Exchanges of Interests attached to the DTC Global Note, inquiry shall be made of the exchange agent under the Fiscal
Agency Agreement, and the U.S. dollar equivalent quoted by such exchange agent (and the date of such quote) shall be noted on such Schedule of Exchanges of Interests next to the corresponding New Zealand dollar amount. 

If an event of default (as defined in the Indenture) with respect to Notes of this series shall occur and be continuing, the principal of the
Notes of this series may be declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture contains
provisions for defeasance at any time of the entire indebtedness of this Note upon compliance by the Company with certain conditions set forth in Sections 12.02 and 12.03 thereof, which provisions apply to this Note. 

The Indenture contains provisions permitting the Company and the Trustee, without the consent of the holders of the Securities, to establish,
among other things, the form and terms of any series of Securities issuable thereunder by one or more supplemental indentures, and, with the consent of the holders of not less than a majority in aggregate principal amount of Securities at the time
outstanding which are affected thereby, to modify the Indenture or any supplemental indenture or the rights of the holders of Securities of such series to be affected, provided that no such modification will (i) extend the fixed maturity of any
Securities, reduce the rate or extend the time 

  
 R-1 

 
of payment of interest thereon, reduce the principal amount thereof or the premium, if any, thereon, reduce the amount of the principal of Original Issue Discount Securities payable on any date,
change the currency in which Securities are payable, or impair the right to institute suit for the enforcement of any such payment on or after the maturity thereof, without the consent of the holder of each Security so affected, or (ii) reduce
the aforesaid percentage of Securities of any series the consent of the holders of which is required for any such modification without the consent of the holders of all Securities of such series then outstanding, or (iii) modify, without the
written consent of the Trustee, the rights, duties or immunities of the Trustee. 
 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, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed.

 This Note is a Global Security registered in the name of a nominee of the Depository. This Note is exchangeable for Notes registered in
the name of a person other than the Depository or its nominee only in the limited circumstances hereinafter described. Unless and until it is exchanged in whole or in part for definitive Notes in certificated form, this Note may not be transferred
except as a whole by the Depository to a nominee of the Depository or by a nominee of the Depository to the Depository or another nominee of the Depository. 

The Notes represented by this Global Security are exchangeable for definitive Notes in certificated form of like tenor as such Notes in
denominations of NZ$1,000 and integral multiples of NZ$1,000 in excess thereof only if (i) the Depository notifies the Company that it is unwilling or unable to continue as Depository for the DTC Global Note or (ii) the Depository ceases
to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, or (iii) both the Euroclear System and Clearstream Banking, société anonyme, notify the Company that they are unwilling or unable to
continue as a clearing system for the International Global Note or (iv) the Company in its sole discretion decides to allow the Notes to be exchanged for definitive Notes in registered form. Any Notes that are exchangeable pursuant to the
preceding sentence are exchangeable for certificated Notes issuable in authorized denominations and registered in such names as the Depository shall direct. As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of definitive Notes in certificated form is registrable in the register maintained by the Company in The City of New York for such purpose, upon surrender of the definitive Note for registration of transfer at the office or agency of the
registrar, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the registrar duly executed by, the holder thereof or his attorney duly authorized in writing, and thereupon one or more new
Notes of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. Subject to the foregoing, this Note is not exchangeable, except for a Global
Security or Global Securities of this issue of the same principal amount to be registered in the name of the Depository or its nominee. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith. 

  
 R-2 

 Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and
any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected
by notice to the contrary. 
 The Company will pay additional amounts (“Additional Amounts”) to the beneficial owner of any Note
that is a non-United States person in order to ensure that every net payment on such Note will not be less, due to payment of U.S. withholding tax, than the amount then due and payable. For this purpose, a
“net payment” on a Note means a payment by the Company or a paying agent, including payment of principal and interest, after deduction for any present or future tax, assessment or other governmental charge of the United States. These
Additional Amounts will constitute additional interest on the Note. 
 The Company will not be required to pay Additional Amounts, however,
in any of the circumstances described in items (1) through (14) below. 
  

	 	(1)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld solely by reason of the beneficial owner:

  

	 	(a)	having a relationship with the United States as a citizen, resident or otherwise; 

  

	 	(b)	having had such a relationship in the past or 

  

	 	(c)	being considered as having had such a relationship. 

  

	 	(2)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld solely by reason of the beneficial owner:

  

	 	(a)	being treated as present in or engaged in a trade or business in the United States; 

  

	 	(b)	being treated as having been present in or engaged in a trade or business in the United States in the past or 

  

	 	(c)	having or having had a permanent establishment in the United States. 

  

	 	(3)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld in whole or in part by reason of the beneficial owner
being or having been any of the following (as such terms are defined in the Internal Revenue Code of 1986, as amended): 

  

	 	(a)	personal holding company; 

  

	 	(b)	foreign personal holding company; 

  

	 	(c)	foreign private foundation or other foreign tax-exempt organization; 

  

	 	(d)	passive foreign investment company; 

  
 R-3 

	 	(e)	controlled foreign corporation or 

  

	 	(f)	corporation which has accumulated earnings to avoid United States federal income tax. 

  

	 	(4)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld solely by reason of the beneficial owner owning or
having owned, actually or constructively, 10 percent or more of the total combined voting power of all classes of stock of the Company entitled to vote or by reason of the beneficial owner being a bank that has invested in a Note as an extension of
credit in the ordinary course of its trade or business. 

 For purposes of items (1) through (4) above, “beneficial owner”
means a fiduciary, settlor, beneficiary, member or shareholder of the holder if the holder is an estate, trust, partnership, limited liability company, corporation or other entity, or a person holding a power over an estate or trust administered by
a fiduciary holder. 
  

	 	(5)	Additional Amounts will not be payable to any beneficial owner of a Note that is a: 

  

	 	(a)	fiduciary; 

  

	 	(b)	partnership; 

  

	 	(c)	limited liability company or 

  

	 	(d)	other fiscally transparent entity 

 or that is not the sole beneficial owner of the Note, or any
portion of the Note. However, this exception to the obligation to pay Additional Amounts will only apply to the extent that a beneficiary or settlor in relation to the fiduciary, or a beneficial owner or member of the partnership, limited liability
company or other fiscally transparent entity, would not have been entitled to the payment of an Additional Amount had the beneficiary, settlor, beneficial owner or member received directly its beneficial or distributive share of the payment. 

 

	 	(6)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld solely by reason of the failure of the beneficial
owner or any other person to comply with applicable certification, identification, documentation or other information reporting requirements. This exception to the obligation to pay Additional Amounts will only apply if compliance with such
reporting requirements is required by statute or regulation of the United States or by an applicable income tax treaty to which the United States is a party as a precondition to exemption from such tax, assessment or other governmental charge.

  

	 	(7)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is collected or imposed by any method other than by withholding from a
payment on a Note by the Company or a paying agent. 

  
 R-4 

	 	(8)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld by reason of a change in law, regulation, or
administrative or judicial interpretation that becomes effective more than 15 days after the payment becomes due or is duly provided for, whichever occurs later. 

  

	 	(9)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld by reason of the presentation by the beneficial owner
of a Note for payment more than 30 days after the date on which such payment becomes due or is duly provided for, whichever occurs later. 

  

	 	(10)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any: 

  

	 	(a)	estate tax; 

  

	 	(b)	inheritance tax; 

  

	 	(c)	gift tax; 

  

	 	(d)	sales tax; 

  

	 	(e)	excise tax; 

  

	 	(f)	transfer tax; 

  

	 	(g)	wealth tax; 

  

	 	(h)	personal property tax or 

  

	 	(i)	any similar tax, assessment, withholding, deduction or other governmental charge. 

  

	 	(11)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment, or other governmental charge required to be withheld by any paying agent from a payment of principal or
interest on a Note if such payment can be made without such withholding by any other paying agent. 

  

	 	(12)	Additional amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is required to be made pursuant to any European Union directive on the
taxation of savings income or any law implementing or complying with, or introduced to conform to, any such directive. 

  

	 	(13)	 Additional amounts will not be payable if a payment on a Note is reduced as a result of any withholding, deduction, tax, duty assessment or other
governmental charge that would not have been imposed but for a failure by the holder or beneficial owner of a Note (or any financial institution through which the holder or beneficial owner holds the Note or through which payment on the Note is
made) to take any action (including entering into an agreement with the Internal Revenue Service, or a governmental authority of another jurisdiction if the holder is entitled to the benefits of an intergovernmental agreement between that
jurisdiction and the United States) 

  
 R-5 

	 	
or to comply with any applicable certification, documentation, information or other reporting requirement or agreement concerning accounts maintained by the holder or beneficial owner (or any
such financial institution), or concerning ownership of the holder or beneficial owner, or any substantially similar requirement or agreement. 

  

	 	(14)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any combination of items (1) through (13) above. 

Except as specifically provided herein, the Company will not be required to make any payment of any tax, assessment or other governmental
charge imposed by any government or a political subdivision or taxing authority of such government. 
 As used in this Note, “United
States person” means: 
  

	 	(a)	any individual who is a citizen or resident of the United States; 

  

	 	(b)	any corporation, partnership or other entity created or organized in or under the laws of the United States; 

  

	 	(c)	any estate if the income of such estate falls within the federal income tax jurisdiction of the United States regardless of the source of such income and 

 

	 	(d)	any trust if a United States court is able to exercise primary supervision over its administration and one or more United States persons have the authority to control all of the substantial decisions of the trust.

 Additionally, “non-United States person” means a person who is not a
United States person, and “United States” means the states of the United States of America and the District of Columbia, but excluding its territories and its possessions. 

Except as provided below, the Notes may not be redeemed prior to maturity. 

 

	 	(1)	The Company may, at its option, redeem the Notes if: 

  

	 	(a)	the Company becomes or will become obligated to pay Additional Amounts as described above; 

  

	 	(b)	the obligation to pay Additional Amounts arises as a result of any change in the laws, regulations or rulings of the United States, or an official position regarding the application or interpretation of such laws,
regulations or rulings, which change is announced or becomes effective on or after November 4, 2014 and 

  

	 	(c)	the Company determines, in its business judgment, that the obligation to pay such Additional Amounts cannot be avoided by the use of reasonable measures available to it, other than substituting the obligor under the
Notes or taking any action that would entail a material cost to the Company. 

  
 R-6 

	 	(2)	The Company may also redeem the Notes, at its option, if: 

  

	 	(a)	any act is taken by a taxing authority of the United States on or after November 4, 2014, whether or not such act is taken in relation to the Company or any affiliate, that results in a substantial probability that
the Company will or may be required to pay Additional Amounts as described above; 

  

	 	(b)	the Company determines, in its business judgment, that the obligation to pay such Additional Amounts cannot be avoided by the use of reasonable measures available to it, other than substituting the obligor under the
Notes or taking any action that would entail a material cost to the Company and 

  

	 	(c)	the Company receives an opinion of independent counsel to the effect that an act taken by a taxing authority of the United States results in a substantial probability that the Company will or may be required to pay the
Additional Amounts described under above, and delivers to the Trustee a certificate, signed by a duly authorized officer, stating that based on such opinion the Company is entitled to redeem the Notes pursuant to their terms. 

Any redemption of the Notes as set forth in clauses (1) or (2) above shall be in whole, and not in part, and will be made at a redemption price
equal to 100% of the principal amount of the Notes Outstanding plus accrued interest thereon to the date of redemption. Holders shall be given not less than 30 days nor more than 60 days prior notice by the Trustee of the date fixed for such
redemption. 
 All terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture. The
Notes are governed by the laws of the State of New York. 

  
 R-7 

 SCHEDULE OF EXCHANGES OF INTERESTS 

The following exchanges of a part of this Note for an interest in another Global Security or for a certificated Note, or exchanges of a part
of another Global Security or certificated Note for an interest in this Note, have been made: 
  

											
	 Date of Exchange
	  	Amount of decrease
in Principal Amount
of this Note	  	Amount of increase
in Principal Amount
of this Note	  	Principal Amount of
this Note following
such decrease (or
increase)	 	  	Signature of
Authorized
Officer of
Trustee or
Fiscal Agent
					
	November 12, 2014 (original issuance)	  		  		  	NZ$	300,000,000	  	  	
		  		  		  				  	
		  		  		  				  	
		  		  		  				  	
		  		  		  				  	
		  		  		  				  	
		  		  		  				  	
		  		  		  				  	
		  		  		  				  	
		  		  		  				  	
		  		  		  				  	
		  		  		  				  	
		  		  		  				  	
		  		  		  				  	

  

	*	This Schedule may be used by the Trustee, Paying Agent, Fiscal Agent or other agent of the Company in respect of this Note, and, if so used, shall be deemed a part thereof for all purposes. 

  
 R-8Agency Agreement, dated November 12, 2014

 Exhibit 4.03 

CITIGROUP INC. 
 And

 CITIBANK, N.A. 

As Fiscal Agent, Registrar, Transfer Agent and Exchange Agent 
  

 
 AGENCY AGREEMENT 

NZ$300,000,000 5.130% Notes due November 12, 2019 

Dated as of November 12, 2014 
  

 

  
 1 

 THIS AGREEMENT is made in London as of November 12, 2014, BY 

 

	(1)	CITIGROUP INC. (the “Issuer”). 

  

	(2)	CITIBANK, N.A. (“Citibank, N.A.”), which shall act as fiscal agent, registrar, transfer agent and exchange agent (hereinafter referred to in such respective capacities as “Fiscal
Agent”, “Registrar”, “Transfer Agent” or as “Exchange Agent”, which expressions shall include any successor or successors thereto). 

WHEREAS pursuant to the Terms Agreement dated November 4, 2014, that incorporates by reference the underwriting agreement basic
provisions dated March 2, 2006 (together, the “Underwriting Agreement”) between the Issuer and the Underwriters named therein, the Issuer has agreed to issue its NZ$300,000,000 5.130% Notes due November 12, 2019 (the
“Notes”); and 
 WHEREAS the Issuer wishes to appoint Citibank, N.A. to act as Fiscal Agent, Registrar, Transfer Agent and
Exchange Agent in relation to the Notes upon the terms and conditions set forth in this Agreement and the Schedules hereto. 
 IT IS HEREBY
AGREED as follows: 
  

	1.	DEFINITIONS, INTERPRETATION 

 The following terms shall, unless the context
otherwise requires, have the respective meanings indicated below: 
 “Agent(s)” means any of the Fiscal Agent, the
Registrar, the Exchange Agent and the Transfer Agent. 
 “Conditions” means, with respect to a particular Series, the terms
and conditions of such Series, as contained in the applicable Global Notes, in the Prospectus Supplement dated July 29, 2014 to the Prospectus dated November 13, 2013, and the Indenture. 

“Global Notes” means, with respect to a particular Series, either one or both of (i) the International Global Note in the
form of Schedule 1 attached hereto and (ii) the DTC Global Notes in the form of Schedule 2 attached hereto (also referred to herein as the “International Global Note” and the “DTC Global Note”, respectively).

 “Indenture” means the Indenture dated as of November 13, 2013, as amended and supplemented to date, between the
Issuer and The Bank of New York Mellon (the “Trustee”). 
 Terms not defined herein shall have the same meanings as are
assigned thereto in the Underwriting Agreement and the Conditions. References to “NZ$” are to New Zealand Dollar. 

  
 2 

	2.	APPOINTMENTS 

 2.1 The Issuer hereby appoints Citibank, N.A. to act as Fiscal Agent, Registrar,
Transfer Agent and Exchange Agent in respect of the Notes and Global Notes. 
 2.2 Citibank, N.A. hereby accepts such appointments, and agrees to act in
such capacities, solely on the terms and conditions set out in this Agreement and the Schedules hereto. In particular, the Fiscal Agent agrees to arrange on behalf of and at the request and expense of the Issuer any publication of notices pursuant
to the Conditions. 
 2.3 The obligations of the Agents are several and not joint. 

 

	3.	THE NOTES 

 3.1 The Notes shall be represented by permanent Global Notes without interest coupons
as specified in the Conditions. Each International Global Note and DTC Global Note shall be substantially in the forms attached hereto as Schedules 1 and 2, respectively, in each case with such changes as may be agreed between the Issuer and the
Trustee. The Conditions shall be attached to, or endorsed upon, each Global Note. In the event that individual definitive Notes are issued, the parties shall enter into a supplement to this Agreement to provide for the matters set forth herein with
regard to such definitive Notes. 
 3.2 Each Global Note shall be signed manually or in facsimile by a duly authorised officer of the Issuer and dated the
Issue Date. Each Global Note shall be authenticated manually by Citibank, N.A., as authenticating agent on behalf of the Trustee, and delivered to (i) in the case of the International Global Note, Citibank, N.A. as common depositary for
Euroclear and Clearstream, and (ii), in the case of the DTC Global Notes, Citibank, N.A., London office as custodian for The Depository Trust Company, New York (“DTC”). 

 

	4.	PAYING AGENCY 

 4.1 The Issuer shall remit the funds necessary for the payment of interest on and
principal of the Notes to the Fiscal Agent, in NZ$ in same-day funds, to such account at the Fiscal Agent in London as the Fiscal Agent may from time to time specify (the “Redemption Account”) by 10:00 am (London time) on the
Business Day immediately prior to the date on which such payment is due. Business Day shall mean a day on which commercial banks and foreign exchange markets settle payments and are open for general business in each of London, Auckland, Wellington
and New York City. 
 The Issuer hereby authorizes and directs the Fiscal Agent, from the amounts so paid to it, to make payment of the principal of, and
interest on, the Notes on the due date for payment set forth in the Conditions and this Agreement. The Fiscal Agent shall be entitled to make payments net of any taxes or other sums required to be withheld or deducted by any applicable law. 

The Issuer shall confirm to the Fiscal Agent not later than 10:00 a.m. (London time) on the second Business Day before the relevant date for such payment that
it has issued irrevocable payment instructions for such payment to be made. 
 4.2 If for any reason the Fiscal Agent does not receive unconditionally the
full amount payable by the Issuer on the relevant due date in respect of all the outstanding or maturing Notes, the Fiscal Agent shall as soon as reasonably practicable notify the Issuer by facsimile. The Fiscal Agent shall not be bound to make any
payment of principal or interest in respect of the Notes until the Fiscal Agent has received to its order the full amount of the monies then due and payable in respect of all outstanding or maturing Notes, provided, however, that if the Fiscal Agent
shall, in its discretion, make any payment of principal or interest on or after the due date therefor in respect of the Notes prior to its unconditional receipt of the full amount then due and payable in respect of all outstanding Notes, the Issuer
will promptly pay such amount to the Fiscal Agent and will compensate the Fiscal Agent at a rate equal to the Fiscal Agent’s cost of funding. 

  
 3 

 4.3 Out of the sums paid to the Fiscal Agent in respect of interest and principal on the Notes, the Fiscal Agent
will make payment free of charge to the registered holder of the International Global Note and the DTC Global Note as stipulated in Clause 9 below, in the amounts specified in the Conditions. The Fiscal Agent shall obtain from the Registrar, and the
Registrar shall supply, such details as are required for the Fiscal Agent to make payment as stated above. 
 4.4 In respect of the monies paid to it
relating to any Note, the Fiscal Agent 
 4.4.1 shall not be entitled to exercise any lien, right of set-off or similar claim (including
without limitation any claim arising from or relating to any other issue of securities by the Issuer), 
 4.4.2 shall not be required to
account for interest thereon and 
 4.4.3 money held by it need not be segregated except as may be required by applicable law. 

Any funds held by the Fiscal Agent are held as banker and shall not be subject to the UK FCA Client Money Rules 

 

	5.	DOCUMENTS FOR INSPECTION AND PUBLICATION OF NOTICES 

 5.1 On behalf and at the request and expense
of the Issuer, the Fiscal Agent shall cause to be published any notices required to be given by the Issuer in accordance with the Conditions. 
 5.2 The
Issuer shall provide to the Fiscal Agent sufficient copies of all documents required by the Conditions to be available for issue or inspection, and the Fiscal Agent shall make such copies available to Noteholders upon their request. 

5.3 To the extent practicable, the Issuer shall provide the Fiscal Agent with a copy (prior to publication) of all notices to be issued in connection with the
Notes. 
  

	6.	CANCELLATION OF THE GLOBAL NOTES 

 6.1 Subject to the terms of the Indenture, as soon as
practicable upon the Issuer’s request, the Registrar shall take all measures necessary to cancel any Notes which the Issuer has repurchased or whose maturity has been accelerated pursuant to the Conditions. The Registrar shall cause any such
Notes (i) to the extent represented by the International Global Note, to be cancelled resulting in a reduction in the aggregate amount of the Notes represented by the International Global Note by the aggregate amount of Notes so cancelled, and
(ii) to the extent represented by the DTC Global Note, to be cancelled in accordance with the procedures established for that purpose by DTC, resulting in a reduction in the aggregate amount of the Notes represented by the DTC Global Note by
the aggregate amount of the Notes so cancelled. 
 6.2 On the same day such cancellation is effected, the Registrar shall record such cancellation of Notes
on the Register in such a way that the aggregate principal amount of Notes cancelled at any time together with the aggregate principal amount of Notes outstanding and represented by the Global Notes shall equal the aggregate principal amount of
Notes originally issued by the Issuer. 
 6.3 The Registrar shall upon request furnish the Issuer with a notice of cancellation signed by an authorized
officer of the Registrar confirming the cancellation of such Notes and the corresponding reduction of the relevant Global Note(s). 
  

	7.	DUTIES OF THE REGISTRAR 

 7.1 The Registrar shall maintain the Register in London in accordance
with the Conditions. The Register shall show the aggregate amount of Notes represented by each Global Note at the date of issue and all subsequent transfers and exchanges involving a change in such amounts and the names and addresses of the
registered holders (each a “Payee”). On the first Business Day after the Record Date for any interest payment on the Notes, the Registrar shall send payment details in respect of the Payees and the NZ$ accounts to which transfers
should be made to the Fiscal Agent. 

  
 4 

 7.2 Transfers or exchanges of Notes will be made in accordance with the Conditions, the procedures established
for this purpose between Euroclear, Clearstream, DTC and the Registrar, and Euroclear, Clearstream and DTC’s regulations applicable to such transfers or exchanges. Any such transfer or exchange which results in a change in the aggregate
principal amount of Notes held by Euroclear, Clearstream and DTC shall be notified by Euroclear, Clearstream and DTC to the Registrar. The Registrar shall promptly enter details of the transfer or exchange in the Register, which entry shall, without
further action, cause the aggregate principal amount represented by each Global Note to be amended accordingly. 
 7.3 The Registrar shall at all reasonable
times during office hours make the Register available to the Issuer and the Fiscal Agent or any person authorised by either of them for inspection and for the taking of copies thereof or extracts therefrom, and the Registrar shall deliver to such
persons such information contained in the Register or relating to the Notes as they may reasonably request. 
  

	8.	DUTIES OF THE TRANSFER AGENT 

 If and to the extent so specified by the Conditions and in
accordance therewith, or if otherwise requested by the Issuer, the Transfer Agent shall make available all relevant forms of transfer, inform the Registrar of the name and address of the relevant person to be inserted in the Register and carry out
such other acts as may be necessary to give effect to the Conditions and this Agreement. 
  

	9.	PAYMENTS TO DTC NOTEHOLDERS 

 9.1 All amounts of principal and interest due in respect of the
Notes which are represented by the DTC Global Note (each a “DTC Amount”) shall be paid in U.S. dollars (each such payment being referred to herein as a “U.S. Dollar Payment”), unless DTC has advised the Fiscal Agent
that the relevant Noteholder has made an effective election to receive all or a portion of its payment in New Zealand dollars outside DTC (each a “NZ$ Payment”). 

9.2 The Fiscal Agent shall, from each DTC Amount received by it, make U.S. Dollar Payments in accordance with the Conditions and NZ$ Payments in
accordance with the Conditions. 
  

	10.	DUTIES OF EXCHANGE AGENT 

 For the purposes of this Clause 10, a “payment
date” shall be each date on which the Issuer is obligated to remit funds to the Fiscal Agent pursuant to Clause 4.1. 
 The Exchange
Agent shall: 
  

	(i)	accept NZ$ by remittance to an account maintained by the Exchange Agent of the total amount of interest or principal due on any payment date on Notes held by Cede & Co. (as nominee of DTC) on the Record Date.
The Exchange Agent shall be advised by DTC if any beneficial holders of the Notes held by Cede & Co. (as nominee of DTC) have elected to receive payment in NZ$ and, if so, the amount of Notes held by such holders and the accounts to which
such payments in NZ$ are to be wired. On the payment date, the Exchange Agent shall wire payment in the appropriate NZ$ amounts to the accounts indicated. The remainder on such payment date shall be exchanged by the Exchange Agent pursuant to
sub-clause (ii) below into U.S. dollars and, after deduction of any costs relating to such exchange, shall be paid to Cede & Co. (as nominee of DTC) on the payment date; and 

 

	(ii)	 on the London business day preceding the applicable payment date, enter into a contract for the purchase of U.S. dollars with the Specified Amount of
NZ$ for settlement on such payment date. “Specified Amount” shall mean the aggregate amount of NZ$ payable to all Noteholders holding Notes through participants of DTC that have not elected to receive payments in NZ$. The amount of
U.S. dollars payable in respect of a particular payment under the DTC Global Note will be equal to the amount of NZ$ otherwise payable exchanged into U.S. dollars at the NZ$/U.S.$ exchange rate obtained on the London business day prior to the
relevant payment date, less any costs incurred by the Exchange Agent for such conversion 

  
 5 

	 	
(such costs to be shared pro rata among holders under the DTC Global Note accepting U.S. dollar payments in proportion of their respective holdings). If an exchange rate bid quotation is not so
available, the Exchange Agent shall obtain a bid quotation from a leading foreign exchange bank in London selected by the Exchange Agent after consultation with the Issuer. If no bid quotation is so available, payment will be made in NZ$ to the
account or accounts specified by DTC to the Exchange Agent. In this sub-clause (ii), the term “London business day” shall mean any day on which commercial banks and foreign exchange markets settle payments in London. 

 

	11.	CONDITIONS OF APPOINTMENT 

 11.1 The Issuer will pay to the Agents a remuneration for all services
rendered hereunder by the Agents in connection with the Notes together with any expenses incurred as separately agreed in a fee letter dated as at the date hereof and executed by the Agents and the Issuer. 

11.2 The Issuer will indemnify and hold harmless each of the Agents against any loss, liability or expense which it may incur or any claim, action or demand
which may be made against it arising out of or in connection with such Agent’s appointment or the exercise of its powers and duties hereunder without gross negligence or wilful misconduct on the part of such Agent. 

11.3 Each Agent will indemnify and hold harmless the Issuer against any loss, liability or expense incurred by the Issuer or any claim, action or demand which
may be made against the Issuer resulting from the gross negligence or wilful misconduct on the part of such Agent (or such Agent’s officers, employees or agents) and arising out of or in connection with such Agent’s duties hereunder.
Notwithstanding the foregoing, under no circumstances will any Agent be liable to the Issuer or any other person for any consequential loss (being loss of business, goodwill, opportunity or profit) even if advised to the possibility of such loss or
damages. 
 11.4 The indemnities above shall survive the termination or expiry of this Agreement. 

11.5 Each of the Agents shall be protected and shall incur no liability for or in respect of any action taken, omitted or suffered in reliance upon any
instruction or communication from the Issuer or any document reasonably believed by it to be genuine and to have been delivered, signed or sent by the proper party or parties in accordance with the provisions hereof, except such as may result from
its own gross negligence or wilful misconduct or that of its officers, employees or agents. Each of the Agents shall be entitled to do refrain from acting under any instruction, without liability, if the instructions received are conflicting,
unclear or equivocal. 
 11.6 In acting hereunder and in connection with the Notes, the Agents do not assume any relationship of agency and trust for the
Noteholders, and shall not have any obligation towards them except that all funds held by the Fiscal Agent for payment of principal of or interest on the Notes shall be held for payment to the Noteholders and shall be applied as set forth herein and
in the Conditions. Except as otherwise required by applicable law, no Agent will be required to segregate any funds held by it hereunder from any of its other funds. 

11.7 Nothing herein shall be deemed to require any Agent to advance its own funds in the performance of its duties hereunder. 

11.8 The Agents may consult with legal and other professional advisers selected in good faith and satisfactory to them and the opinion of such advisers shall
be full and complete protection in respect of any action taken, omitted or suffered hereunder in good faith and without negligence and in accordance with the opinion of such advisers. 

11.9 The Agents shall be obliged to perform such duties and only such duties as are herein specifically set forth, and no implied duties or obligations shall
be read into this Agreement against the Agents. No Agent shall be under any obligation to take any action hereunder which it expects will result in any expense or liability of such Agent, the payment of which within a reasonable time is not, in its
opinion, assured to it. The obligations of the Agents hereunder are several and not joint. 
 11.10 The Agents, their affiliates and their respective
officers and employees, in their individual or any other capacity, may become the owner of, or acquire any interest in, any Notes with the same rights that the Agents would have it they were not the Agents hereunder. 

  
 6 

	12.	CHANGE IN AGENTS 

 12.1 Each of the Fiscal Agent, Registrar, Exchange Agent and Transfer Agent in
its capacity as such may be removed at any time by the giving to it of at least 30 days’ written notice to that effect signed on behalf of the Issuer specifying the date on which such removal shall become effective. Each of the Fiscal Agent,
Registrar, Exchange Agent and Transfer Agent may at any time resign by giving at least 30 days’ written notice (unless the Issuer agrees to accept less notice) to that effect to the Issuer specifying the date on which such resignation shall
become effective. Notwithstanding the foregoing, no such resignation or removal shall take effect within 30 days before or after any due date for payment of any Notes or before a new Fiscal Agent, Registrar, Exchange Agent and Transfer Agent, as the
case may be, shall have been appointed by the Issuer as hereinafter provided, and such new Agent shall have accepted such appointment. Any change in any Agent shall be notified by the Issuer to the other Agent(s). 

12.2 The Issuer agrees with the Fiscal Agent that if, by the day falling 10 days before the expiry of any notice under Clause 12.1 above, the Issuer has not
appointed a replacement Fiscal Agent, then the Fiscal Agent shall be entitled, on behalf of the Issuer, to appoint in its place any reputable financial institution of good standing and the Issuer shall not unreasonably object to such appointment.

 12.3 Upon the effectiveness of the appointment of any successor Fiscal Agent, Registrar, Exchange Agent and Transfer Agent, as the case may be, pursuant
to Clause 12.1, the Fiscal Agent, Registrar, Exchange Agent and Transfer Agent so removed shall cease to be a Fiscal Agent, Registrar, Exchange Agent and Transfer Agent, as the case may be, hereunder. Prior to the effectiveness of such appointment,
the Fiscal Agent, Registrar, Exchange Agent and Transfer Agent shall hold all moneys deposited with it or held by it hereunder in respect of the Notes to the order of the respective successor Fiscal Agent, Registrar, Exchange Agent and Transfer
Agent. 
  

	13.	NOTICES 

 Notices shall be in writing (including by facsimile) and addressed to the relevant party
hereto as follows: 
  

	(a)	If to the Issuer: 

 Citigroup Inc. 

153 East 53rd Street, 5th floor 

New York, New York 10043 

Attention: Treasury Department 

Telephone: 212-559-3553 
 Telefax:
212-793-5629 
  

	(b)	If to the Fiscal Agent, Registrar, Transfer Agent and Exchange Agent: 

 Citibank, N.A. 

Citigroup Centre 
 Canada Square

 Canary Wharf 
 London E14 5LB

 Attn: Agency & Trust, Bond Desk 
  

			
	Fiscal Agent Telefax:	  	+353 1 622 2210
	Registrar Telefax:	  	+353 1 506 0339
	Exchange Agent Telefax:	  	+353 1 247 6348

  
 7 

 or at any other address of which any of the foregoing shall have notified the others, and shall be deemed to have
been given when received by the relevant party. 
  

	14.	APPLICABLE LAW, PLACE OF JURISDICTION 

  

	14.1	This Agreement shall be subject to New York law. 

  

	14.2	The exclusive place for all proceedings arising out of this agreement shall be New York. 

  

	15.	MISCELLANEOUS 

 15.1 The Fiscal Agent agrees to perform its obligations hereunder through its
London Branch to the extent that this is necessary or appropriate in order to make payments to DTC or DTC Participants in accordance with the Conditions. 

15.2 The Fiscal Agent shall promptly advise the Issuer of any notice, including any notice declaring Notes due, which it may receive pursuant to the
Conditions. 
 15.3 Should any of the provisions of this Agreement be or become invalid, in whole or in part, the other provisions of this Agreement shall
remain in force. Invalid provisions shall, according to the intent and purpose of this Agreement, be replaced by such valid provisions which in their economic effect come as close as legally possible to that of the invalid provisions. 

15.4 This Agreement may be signed in counterparts. 
 15.5 Terms
not defined in this Agreement shall have the meanings ascribed to them in the Underwriting Agreement or the Conditions, as the case may be. 
 15.6 If there
is any conflict between the terms of this Agreement and the terms of the Indenture, the terms of the Indenture shall control. 
 15.7 Notwithstanding
anything else herein contained, the Fiscal Agent may refrain without liability from doing anything that would or might in its opinion be contrary to any law of any state or jurisdiction (including but not limited to the United States of America or
any jurisdiction forming a part of it and England & Wales) or any directive or regulation of any agency of any such state or jurisdiction and may without liability do anything which is, in its reasonable opinion, necessary to comply with
any such law, directive or regulation. 
  

	16	WHOLE AGREEMENT  

 16.1. This Agreement contains the whole agreement between the Parties relating
to the subject matter of this Agreement at the date of this Agreement to the exclusion of any terms implied by law which may be excluded by contract and supersedes any previous written or oral agreement between the Parties in relation to the matters
dealt with in this Agreement. 
 16.2 Each Party acknowledges that it has not been induced to enter into this Agreement by any representation, warranty or
undertaking not expressly incorporated into it. 
 16.3 So far as is permitted by law and except in the case of fraud, each Party agrees and acknowledges
that its only right and remedy in relation to any representation, warranty or undertaking made or given in connection with this Agreement shall be for breach of the terms of this Agreement to the exclusion of all other rights and remedies (including
those in tort or arising under statute) 
 16.4 In Clauses 16.1 to 16.3, “this Agreement” includes the fee letter dated the date hereof and all
documents entered into pursuant to this Agreement. 

  
 8 

 This Agreement has been entered into effective the date stated at the beginning hereof. 

 

	
	CITIGROUP INC.
	
	 /s/ Le Roy Davis

	Assistant Treasurer
	
	CITIBANK, N.A.
	
	 /s/ Stuart Sullivan

  
 9

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