| Offer Summary |
| Series Number |
Series 2004-01 |
| Issuer |
Citigroup Global Markets Australia Pty Limited ("Issuer" or "CGMA") |
| Reference Shares (the Basket) |
Alumina Ltd
BHP Billiton Ltd
Oil Search Ltd
Rio Tinto Ltd
Woodside Petroleum Ltd
Zinifex Ltd |
| Offer Opens |
7 March 2005 |
| Offer Closes |
31 March 2005 at 5:00 pm |
| Issue Date |
5 April 2005 |
| Maturity Date |
4 March 2011 |
| Term of Investment |
6 Years, subject to Auto-Call feature |
| Denomination |
Australian Dollars (AUD) |
| Investment |
Units in the MLI with an Investment Amount of AUD 1.00.
Each AUD 1.00 of the Investment Amount will constitute one Unit of the MLI.
Please note "Units" when used in this document are not units in a managed investment scheme |
| Issue Price |
AUD 1.00 per Unit |
| Minimum Investment Amount |
AUD 10,000 and in multiples of AUD 1,000 above that amount |
| Capital Protection |
The Issuer guarantees that the value of each Unit on the earlier of the scheduled Maturity Date or an Auto-Call Date will be at least equal to the Issue Price. |
| Minimum Return |
The Issuer has targeted a minimum return of 10.0% (inclusive of the Guaranteed Coupon) over the term of the investment. |
| Threshold Price |
In relation to each Reference Share the Threshold Price shall be set at 98% of the respective Initial Share Price. |
| Guaranteed Coupon (Year 1) |
At the end of the first year (5 April 2006), Investors will receive a Guaranteed Coupon of 10% on their Investment Amount. This amount is payable on or around 5 April 2006. |
| Capital Growth Rate |
Expected to range between 10.0% and 10.5%pa (Subject to the Auto-Call feature being satisfied, the Final Value per Unit will be calculated by reference to the Capital Growth Rate). |
| Auto-Call feature |
On any Auto-Call Date where the Early Maturity Condition has been satisfied, the Auto-Call Date will be deemed to be the Early Maturity Date and the Final Value per Unit shall be determined by reference to the Capital Growth Rate. Assuming a Capital Growth Rate of 10.0%pa, the Final Value Per Unit would be:
| Auto-Call Date |
Indicative Final Value per Unit* |
| 4 October 2006 |
AUD 1.05 |
| 4 April 2007 |
AUD 1.10 |
| 4 October 2007 |
AUD 1.15 |
| 4 April 2008 |
AUD 1.20 |
| 3 October 2008 |
AUD 1.25 |
| 3 April 2009 |
AUD 1.30 |
| 5 October 2009 |
AUD 1.35 |
| 5 April 2010 |
AUD 1.40 |
| 4 October 2010 |
AUD 1.45 |
| 4 April 2011 |
AUD 1.50 |
|
| Early Maturity Condition |
If on any Auto-Call Date all of the six Reference Shares close above their threshold Price then the Early Maturity Condition will be satisfied and the Issuer must nominate the current Auto-Call Date as the Early Maturity Date |
| Final Value per Unit on the Maturity Date |
If the Auto-Call feature has not been triggered prior to the Maturity Date, the Final Value per Unit on the Maturity Date will be:
(a) if on the Maturity Date, any one of the Reference Shares has closed below its Threshold Price, AUD 1.00 per Unit (even if any of the other Reference Shares close at or above their Threshold Price); or
(b) if on the Maturity Date, all the Reference Shares have closed above their Threshold Price, AUD 1.50 per Unit (assuming the minimum Capital Growth Rate of 10.0% pa applies)
|
| Delivery Asset |
Units in the StreetTRACKS® S&P/ASX 200® Fund |
| Distributor Fees |
3.00% (including GST) of the initial Investment Amount |
| Financial Adviser Fees |
Financial Advisers appointed by the Distributor may receive a placement fee and/or annual fee (including GST) based on the initial Investment Amount. These fees will be paid by the Distributor at no additional cost to Investors |
