<table><tr><th>From:</th><th>Barrett, Paul S</th></tr><tr><td>Sent:</td><td>Tuesday, October 28, 2014 2:49 PM</td></tr><tr><td>To:</td><td>Epstein, Jeffrey (jeeyacation©omail.com)</td></tr><tr><td>Cc:</td><td>Nelson, Justin D</td></tr><tr><td>Subject:</td><td>RE: Hi</td></tr></table>

Jeffrey

He should buy $5MM of t=is issue.

Cit= 5.80% PFD

<table><tr><th>Issuer:</th><th>&amp;n=sp;</th><th>=nbsp;</th><th>&amp;nbs=; CITIGROUP INC</th><th></th><th></th></tr><tr><td>Ratings:</td><td>&amp;n=sp;</td><td>=nbsp;</td><td>Ba3=/BB =nbsp;</td><td>&amp;nbs=;</td><td></td></tr><tr><td>Ranking:</td><td>&amp;n=sp;</td><td>=nbsp;</td><td>Jr Subordinated=nbsp; &amp;nbs=;</td><td></td><td>&amp;n=sp;</td></tr><tr><td>Coupon:</td><td>&amp;nb=p;</td><td>&amp;=bsp;</td><td>5.80%; the=3mL +409.3bp</td><td>&amp;nbs=;</td><td>&amp;n=sp;</td></tr><tr><td>Next Call:</td><td>&amp;nbs=;</td><td>&amp;nb=p;</td><td>11/15/19</td><td></td><td></td></tr><tr><td>Maturity:</td><td>=</td><td>&amp;nbs=;</td><td>PERPETUAL &amp;nbs=; &amp;n=sp;</td><td></td><td></td></tr><tr><td>Price:</td><td>&amp;nb=p;</td><td>&amp;=bsp;</td><td>= $101.00 &amp;=bsp;</td><td>=</td><td></td></tr><tr><td>YTC</td><td>(11/15/19):</td><td>&amp;=bsp;</td><td>5.57%=/o:p&gt;</td><td></td><td></td></tr><tr><td>YTM*:</td><td>&amp;nb=p;</td><td>= =</td><td>6.88%</td><td></td><td></td></tr><tr><td colspan="2">Issue Size: =</td><td>&amp;nb=p;</td><td>$1.5B</td><td></td><td></td></tr><tr><td colspan="2">Min Denom: =</td><td colspan="2">&amp;nb=p; 1,000 / 1,000</td><td></td><td></td></tr><tr><td>Cusip:</td><td>&amp;nb=p;</td><td>&amp;=bsp;</td><td>= 172967HZ7 &amp;nbs=;</td><td>&amp;n=sp;</td><td>=nbsp;</td></tr><tr><td>QDI Eligible</td><td></td><td></td><td></td><td></td><td></td></tr></table>

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<=pan style="font-size:8.Opt;font-family:"Verdana","sans-ser=f";color:#1F497D">Paul Barrette Managing Director I Global Investment Oppo=tunities Group I J.P. Morgan Securities LLC I J.P. Morgan Private Bank I Morgan Chase Bank N.A.

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