Initial Statement of Trust Indenture (305b2)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM T-1

STATEMENT OF ELIGIBILITY

UNDER THE TRUST INDENTURE ACT OF 1939

OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE

☒	CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b)(2)

Citibank, N.A.


A National Banking Association		13-5266470
		(I.R.S. employer identification no.)

388 Greenwich Street, New York, New York		10013
(Address of principal executive office)		(Zip code)

Agilent Technologies, Inc.

(Exact name of Registrant as specified in its charter)


Delaware
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification Number)

5301 Stevens Creek Boulevard

Santa Clara, California 95051

(Address, including zip code and telephone number, including area code, of registrant’s principal executive offices)

Debt Securities

Item 1.

General information. Furnish the following information as to the Trustee:

(a) Name and address of each examining or supervising authority to which it is subject.


Name		Address
Comptroller of the Currency		Washington, D.C.


Federal Reserve Bank of New York		33 Liberty Street, New York, NY
Federal Deposit Insurance Corporation		Washington, D.C.

(b)

Whether it is authorized to exercise corporate trust powers.

Yes.

Item 2.

Affiliations with Obligor.

If the obligor is an affiliate of the trustee, describe each such affiliation.

None.

Items 3-15.

Items 3-15 are not applicable because to the best of the Trustee’s knowledge, the obligor is not in default under any Indenture for which the Trustee acts as Trustee.

Item 16.

List of Exhibits.

List below all exhibits filed as a part of this Statement of Eligibility.

Exhibits identified in parentheses below, on file with the Commission, are incorporated herein by reference as exhibits hereto.

Exhibit 1 - Copy of Articles of Association of the Trustee, as now in effect. (Exhibit 1 to T-1 to Registration Statement No. 2-79983).

Exhibit 2 - Copy of certificate of authority of the Trustee to commence business. (Exhibit 2 to T-1 to Registration Statement No. 2-29577).

Exhibit 3 - Copy of authorization of the Trustee to exercise corporate trust powers. (Exhibit 3 to T-1 to Registration Statement No. 2-55519).

Exhibit 4 - Copy of existing By-Laws of the Trustee. (Exhibit 4 to T-1 to Registration Statement No. 33-34988).

Exhibit 5 - Not applicable.

Exhibit 6 - The consent of the Trustee required by Section 321(b) of the Trust Indenture Act of 1939 (Exhibit 6 to T-1 to Registration Statement No. 33-19227).

Exhibit 7 - Report of Condition of Citibank, N.A. as of December 31, 2020 published pursuant to the law or the requirements of its supervising or examining authority, attached as Exhibit 7.

Exhibit 8 - Not applicable.

Exhibit 9 - Not applicable.

SIGNATURE

Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, Citibank, N.A., a national banking association organized and existing under the laws of the United States of America, has duly caused this Statement of Eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of New York and State of New York, on the 3^rd day of March, 2021.

CITIBANK, N.A.

By: /s/ Danny Lee

Name: Danny Lee

Title: Senior Trust Officer

Exhibit 7

CITIGROUP CONSOLIDATED BALANCE SHEET

(In millions of dollars)


																4Q20 Increase/ (Decrease) from
	December 31, 2019			March 31, 2020⁽¹⁾			June 30, 2020⁽¹⁾			September 30, 2020			December 31, 2020⁽²⁾			3Q20			4Q19
Assets
Cash and due from banks (including segregated cash and other deposits)	$	23,967		$	23,755		$	22,889		$	25,308		$	26,349			4	%		10	%
Deposits with banks, net of allowance		169,952			262,165			286,884			298,387			283,266			(5	%)		67	%
Securities borrowed and purchased under agreements to resell, net of allowance		251,322			262,536			282,917			289,358			294,712			2	%		17	%
Brokerage receivables, net of allowance		39,857			68,555			51,633			51,610			44,806			(13	%)		12	%
Trading account assets		276,140			365,000			362,311			348,209			375,079			8	%		36	%
Investments
Available-for-sale debt securities, net of allowance		280,265			308,219			342,256			343,690			335,084			(3	%)		20	%
Held-to-maturity debt securities, net of allowance		80,775			82,315			83,332			96,065			104,943			9	%		30	%
Equity securities		7,523			8,349			7,665			7,769			7,332			(6	%)		(3	%)

Total investments		368,563			398,883			433,253			447,524			447,359			—			21	%
Loans, net of unearned income
Consumer		309,548			288,430			281,113			280,025			288,839			3	%		(7	%)
Corporate		389,935			432,590			404,179			386,886			387,044			—			(1	%)

Loans, net of unearned income		699,483			721,020			685,292			666,911			675,883			1	%		(3	%)
Allowance for credit losses on loans (ACLL)		(12,783	)		(20,380	)		(26,298	)		(26,426	)		(24,956	)		6	%		(95	%)

Total loans, net		686,700			700,640			658,994			640,485			650,927			2	%		(5	%)
Goodwill		22,126			21,264			21,399			21,624			22,162			2	%		—
Intangible assets (including MSRs)		4,822			4,560			4,451			4,804			4,747			(1	%)		(2	%)
Other assets, net of allowance		107,709			112,756			108,068			107,150			110,683			3	%		3	%

Total assets	$	1,951,158		$	2,220,114		$	2,232,799		$	2,234,459		$	2,260,090			1	%		16	%

Liabilities
Non-interest-bearing deposits in U.S. offices	$	98,811		$	113,371		$	115,386		$	121,183		$	126,942			5	%		28	%
Interest-bearing deposits in U.S. offices		401,418			462,327			490,823			497,487			503,213			1	%		25	%

Total U.S. deposits		500,229			575,698			606,209			618,670			630,155			2	%		26	%

Non-interest-bearing deposits in offices outside the U.S.		85,692			85,439			87,479			94,208			100,543			7	%		17	%
Interest-bearing deposits in offices outside the U.S.		484,669			523,774			539,972			549,745			549,973			—			13	%

Total international deposits		570,361			609,213			627,451			643,953			650,516			1	%		14	%

Total deposits		1,070,590			1,184,911			1,233,660			1,262,623			1,280,671			1	%		20	%
Securities loaned and sold under agreements to resell		166,339			222,324			215,722			207,227			199,525			(4	%)		20	%
Brokerage payables		48,601			74,368			60,567			54,328			50,484			(7	%)		4	%
Trading account liabilities		119,894			163,995			149,264			146,990			168,027			14	%		40	%
Short-term borrowings		45,049			54,951			40,156			37,439			29,514			(21	%)		(34	%)
Long-term debt		248,760			266,098			279,775			273,254			271,686			(1	%)		9	%
Other liabilities⁽³⁾		57,979			60,141			61,269			58,003			59,983			3	%		3	%

Total liabilities	$	1,757,212		$	2,026,788		$	2,040,413		$	2,039,864		$	2,059,890			1	%		17	%

Equity
Stockholders’ equity
Preferred stock	$	17,980		$	17,980		$	17,980		$	17,980		$	19,480			8	%		8	%

Common stock		31			31			31			31			31			—			—
Additional paid-in capital		107,840			107,550			107,668			107,764			107,846			—			—
Retained earnings		165,369			163,782			163,515			165,303			168,272			2	%		2	%
Treasury stock, at cost		(61,660	)		(64,147	)		(64,143	)		(64,137	)		(64,129	)		—			(4	%)
Accumulated other comprehensive income (loss) (AOCI)		(36,318	)		(32,521	)		(33,345	)		(33,065	)		(32,058	)		3	%		12	%

Total common equity	$	175,262		$	174,695		$	173,726		$	175,896		$	179,962			2	%		3	%

Total Citigroup stockholders’ equity	$	193,242		$	192,675		$	191,706		$	193,876		$	199,442			3	%		3	%

Noncontrolling interests		704			651			680			719			758			5	%		8	%

Total equity		193,946			193,326			192,386			194,595			200,200			3	%		3	%

Total liabilities and equity	$	1,951,158		$	2,220,114		$	2,232,799		$	2,234,459		$	2,260,090			1	%		16	%