AUD Series 2008-01

USD Series 2008-01

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MLI Lookback is an innovative product which offers the benefit of hindsight in your investment making decisions. Your return is linked to the performance of Australia’s five largest financial institutions by market capitalisation with the confidence of Principal Protection at Maturity^

^ Principal Protection only applies at Maturity or in the instance of a Call Event and provided no Early Maturity Event has occurred. If there is an Early Maturity Event or Units are sold prior to Maturity, the investor may receive an amount less than their original investment amount. The Principal Protection is also subject to the credit worthiness of the Issuer. Please refer to the PDS for further details.

MLI Lookback - Australian Financials Basket

Offer Summary
Issuer	Citigroup Global Markets Australia Pty Limited ("Issuer")
Basket	The Basket consists of a portfolio of the following Australian financial shares ANZ: Australia and New Zealand Banking Group Limited CBA: Commonwealth Bank of Australia MQG: Macquarie Group Limited NAB: National Australia Bank Limited WBC: Westpac Banking Corporation
Offer Closes	17 April 2008 at 5:00 pm
Issue Date	24 April 2008
Maturity Date	AUD Series: 24 October 2011 USD Series: 24 April 2012
Term of Investment	AUD Series: 3.5 Years USD Series: 4.0 Years
Denomination	AUD Series: Australian Dollars USD Series: United States Dollars
Investment	The MLI which is an agreement between the Investor and the Issuer governed by the Terms.
Issue Price	AUD Series: AUD1.00 per MLI unit USD Series: USD1.00 per MLI unit
Minimum Investment Amount	AUD Series: AUD10,000 and multiples of AUD1,000 thereafter USD Series: USD10,000 and multiples of USD1,000 thereafter
Capital Protection	The value of each MLI unit on the Maturity Date will be at least equal to the Issue Price (subject to certain restrictions as described on page 14)*
Initial Level	The Official Closing Level of the Basket on the Issue Date
Strike Level	The lowest Official Closing Level of the Basket as observed daily within the Lookback Period
Final Level	The Official Closing Level of the Basket on the Maturity Date
Lookback Period	The six month period following the Issue Date (24 April 2008 to 24 October 2008 inclusive)
Cap Level	AUD Series: Expected to range between 55% and 65% USD Series: Expected to range between 50% and 60% Please refer to the section 'What factors affect the Cap Level?' on page 9 for further details.
Basket Performance (the market linked performance)	The Basket Performance of the MLI is calculated in accordance with the formula below.
Final Value per MLI	The Final Value per MLI on the Maturity Date will be the amount calculated as: Issue Price × (1 + Min [Cap Level, Basket Performance] )
Delivery Asset	Shares in the Commonwealth Bank of Australia (the “Commonwealth Bank”) (an ASX listed share, ASX code: CBA)
Financial Adviser Fees	Upfront fee payable by the Issuer of 3.50% (including GST) of the initial Investment Amount This fee will be paid by Citi at no additional cost to Investors.

*The capital protection only applies to investments held for the full term until the Maturity Date and provided no Early Maturity Events occur. Capital protection is also subject to the credit worthiness of the Issuer. For more details, please refer to Section 2 of this PDS.

Investment Profile

Time Horizon (Years)	1 or Less	2	3	4	5 or more	Open-ended
Risk	Very Low	Low	Moderate	High	Very High	Speculative
Investment Objective	Full Protection	Partial Protection	Conditional Protection	No Protection	Income	Growth

Investment Objectives

Investor Seeks	Investor Can Accept
Exposure to a basket of Australian financial shares	A holding period of 3.5 years (AUD Series) and 4.0 years (USD Series)
100%* capital protection at Maturity	The possibility of losing part of the initial Investment Amount if the MLI is not held to Maturity
Potential for capital growth	The risks associated with investing in a basket of Australian financial shares
A medium-term market-linked investment	The possibility that returns could may be limited by the Cap Level or could be less than the return you could earn on other investments

Offer Summary

To view a summary of the Offer click here

Risk Factors

There are a number of risks associated with the MLI and investments in equity markets generally. Some of the key risks include:

• Market Risk & Economic Factors
  
• Credit worthiness of the Issuer
  
• Early Maturity Risk
  
• Event Risk
  
• Liquidity Risk
  
• Interest Rates
  
• Tax
  
• Potential conflicts of Interest
  

A more detailed explanation of the risks associated with an investment in the MLI are set out in the PDS dated 12 March 2008, investors should consider the Risk Factors before making a decision to invest

Download

• Product Disclosure Statement (pdf 1.48mb)

More Information

For further information on structured financial products contact the Citigroup Structured Products Service Centre.

Phone	:	1300 30 70 70.
Email	:	citifirst.au@citi.com
Mail	:	GPO Box 40, Sydney NSW 1027