This excerpt taken from the C 8-K filed Jan 15, 2008.
DESCRIPTION OF THE DEPOSITARY SHARES
The depositary shares will be issued pursuant to the terms of a deposit agreement between Citigroup and The Bank of New York, as depositary, and the holders from time to time of the depositary receipts. The terms of the depositary shares will include those stated in the deposit agreement. The following summary of the material terms and provisions of the depositary shares is not intended to be complete and is qualified by the deposit agreement, copies of which will be made available to prospective investors. It is important for you to consider the information contained in the deposit agreement before making your decision to invest in the depositary shares and Convertible Preferred Stock. If any specific information regarding the depositary shares in this description is inconsistent with the terms of the depositary shares described in the deposit agreement, you should rely on the information contained in the deposit agreement.