SC 13G/A 1 a2164547zsc13ga.txt SC 13G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 1)* PacifiCorp -------------------------------------------------------------------------------- (Name of Issuer) $7.48 No Par Serial Preferred Stock -------------------------------------------------------------------------------- (Title of Class of Securities) 695114-65-2 -------------------------------------------------------- (CUSIP Number) July 31, 2005 -------------------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: /X/ Rule 13d-1(b) / / Rule 13d-1(c) / / Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Page 1 of 12 Pages SCHEDULE 13G CUSIP NO. 695114-65-2 Page 2 of 12 Pages ------------------------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Citigroup Insurance Holding Corporation* ------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) / / (b) / / ------------------------------------------------------------------------------- (3) SEC USE ONLY ------------------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION Georgia ------------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES ---------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 0** OWNED BY ---------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING ---------------------------------------------------- PERSON (8) SHARED DISPOSITIVE POWER 0** WITH: ------------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0** ------------------------------------------------------------------------------- (10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) / / ------------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.0%** ------------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC ------------------------------------------------------------------------------- * This filing reflects securities beneficially owned by the Asset Management business unit ("CAM") of Citigroup Inc. (together with its subsidiaries and affiliates, "Citigroup") only and does not reflect securities beneficially owned by Citigroup excluding CAM. **Prior to the sale of Travelers Asset Management International Company LLC, Plaza LLC and the Travelers Insurance Company to MetLife, Inc. effective as of July 1, 2005 (the "Sale"), Citigroup Insurance Holding Corporation ("CIHC"), Associated Madison Companies, Inc. ("AMAD") and Citigroup Inc. indirectly beneficially owned the Issuer's securities. Upon completion of the Sale, CIHC and AMAD no longer indirectly beneficially owned any of the Issuer's securities. SCHEDULE 13G CUSIP NO. 695114-65-2 Page 3 of 12 Pages ------------------------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Associated Madison Companies, Inc.* ------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) / / (b) / / ------------------------------------------------------------------------------- (3) SEC USE ONLY ------------------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ------------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES ---------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 0** OWNED BY ---------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING ---------------------------------------------------- PERSON (8) SHARED DISPOSITIVE POWER 0** WITH: ------------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0** ------------------------------------------------------------------------------- (10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) / / ------------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.0%** ------------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC ------------------------------------------------------------------------------- * This filing reflects securities beneficially owned by CAM only and does not reflect securities beneficially owned by Citigroup excluding CAM. **Prior to the Sale, CIHC, AMAD and Citigroup Inc. indirectly beneficially owned the Issuer's securities. Upon completion of the Sale, CIHC and AMAD no longer indirectly beneficially owned any of the Issuer's securities. SCHEDULE 13G CUSIP NO. 695114-65-2 Page 4 of 12 Pages ------------------------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Salomon Brothers Asset Management Inc* ------------------------------------------------------------------------------ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) / / (b) / / ------------------------------------------------------------------------------- (3) SEC USE ONLY ------------------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION New York ------------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES ---------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 38,910 OWNED BY ---------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING ---------------------------------------------------- PERSON (8) SHARED DISPOSITIVE POWER 38,910 WITH: ------------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 38,910 ------------------------------------------------------------------------------- (10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) / / ------------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.6% ------------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IA ------------------------------------------------------------------------------- * This filing reflects securities beneficially owned by CAM only and does not reflect securities beneficially owned by Citigroup excluding CAM. SCHEDULE 13G CUSIP NO. 695114-65-2 Page 5 of 12 Pages ------------------------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Citigroup Financial Products Inc.* ------------------------------------------------------------------------------ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) / / (b) / / ------------------------------------------------------------------------------- (3) SEC USE ONLY ------------------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ------------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES ---------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 38,910 OWNED BY ---------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING ---------------------------------------------------- PERSON (8) SHARED DISPOSITIVE POWER 38,910 WITH: ------------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 38,910 ------------------------------------------------------------------------------- (10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) / / ------------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.6% ------------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC ------------------------------------------------------------------------------- * This filing reflects securities beneficially owned by CAM only and does not reflect securities beneficially owned by Citigroup excluding CAM. SCHEDULE 13G CUSIP NO. 695114-65-2 Page 6 of 12 Pages ------------------------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Citigroup Global Markets Holdings Inc.* ------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) / / (b) / / ------------------------------------------------------------------------------- (3) SEC USE ONLY ------------------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION New York ------------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES ---------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 38,910 OWNED BY ---------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING ---------------------------------------------------- PERSON (8) SHARED DISPOSITIVE POWER 38,910 WITH: ------------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 38,910 ------------------------------------------------------------------------------- (10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) / / ------------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.6% ------------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC ------------------------------------------------------------------------------- * This filing reflects securities beneficially owned by CAM only and does not reflect securities beneficially owned by Citigroup excluding CAM. SCHEDULE 13G CUSIP NO. 695114-65-2 Page 7 of 12 Pages ------------------------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Citigroup Inc.* ------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) / / (b) / / ------------------------------------------------------------------------------- (3) SEC USE ONLY ------------------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ------------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES ---------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 38,910** OWNED BY ---------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING ---------------------------------------------------- PERSON (8) SHARED DISPOSITIVE POWER 38,910** WITH: ------------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 38,910** ------------------------------------------------------------------------------- (10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) / / ------------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.6%** ------------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC ------------------------------------------------------------------------------- * This filing reflects securities beneficially owned by CAM only and does not reflect securities beneficially owned by Citigroup excluding CAM. **Includes shares held by other reporting persons. Item 1(a). Name of Issuer: PacifiCorp Item 1(b). Address of Issuer's Principal Executive Offices: 825 N.E. Multnomah Portland, OR 97232-4116 Item 2(a).* Name of Person Filing: Citigroup Insurance Holding Corporation ("CIHC") Associated Madison Companies, Inc. ("AMAD") Salomon Brothers Asset Management Inc ("SBAM") Citigroup Financial Products Inc. ("CFP") Citigroup Global Markets Holdings Inc. ("CGM Holdings") Citigroup Inc. * In accordance with Securities and Exchange Commission Release No. 34-39538 (January 12, 1998), this filing reflects securities beneficially owned by CAM. Citigroup, its executive officers and directors and its direct and indirect subsidiaries, excluding CAM, may beneficially own securities of the issuer, and such securities are not reported in this filing. CAM disclaims beneficial ownership of securities beneficially owned by Citigroup, excluding CAM, and Citigroup disclaims beneficial ownership of the securities reported herein. Item 2(b). Address of Principal Office or, if none, Residence: The address of the principal office of CIHC is: 3120 Breckinridge Blvd. Duluth, Georgia 30199-0001 The address of the principal office of CFP and CGM Holdings is: 388 Greenwich Street New York, NY 10013 The address of the principal office of SBAM, AMAD and Citigroup Inc. is: 399 Park Avenue New York, NY 10043 Item 2(c). Citizenship or Place of Organization: CIHC is a Georgia corporation. CGM Holdings is a New York corporation. AMAD, SBAM, CFP and Citigroup Inc. are Delaware corporations. Item 2(d). Title of Class of Securities: $7.48 No Par Serial Preferred Stock Item 2(e). Cusip Number: 695114-65-2 Page 8 of 12 Pages Item 3. If this Statement is Filed Pursuant to Sections 240.13d-1(b) or 240.13d-2(b) or (c), Check Whether the Person Filing is a(n): (a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d) [ ] Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) [X] Investment adviser in accordance with Section 240.13d-1(b)(1)(ii)(E); (f) [ ] Employee benefit plan or endowment fund in accordance with Section 240.13d-1(b)(1)(ii)(F); (g) [X] Parent holding company or control person in accordance with Section 240.13d-1(b)(1)(ii)(G); (h) [ ] Savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] Church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3) (j) [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(J). Item 4. Ownership. (As of July 31, 2005) (a) Amount beneficially owned: See item 9 of cover pages (b) Percent of class: See item 11 of cover pages (c) Number of shares as to which the person has: (i) sole power to vote or to direct the vote: (ii) shared power to vote or to direct the vote: (iii) sole power to dispose or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: See Item 5 to 8 of cover pages Page 9 of 12 Pages Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ]. Item 6. Ownership of More Than Five Percent on Behalf of Another Person. Not Applicable. Item 7. Identification and Classification of the Subsidiary which Acquired the Security being Reported on by the Parent Holding Company. AMAD is the sole stockholder of CIHC. CFP is the sole stockholder of SBAM. CGM Holdings is the sole stockholder of CFP. Citigroup Inc. is the sole stockholder of AMAD and CGM Holdings. Item 8. Identification and Classification of Members of the Group. Not Applicable. Item 9. Notice of Dissolution of Group. Not Applicable. Page 10 of 12 Pages Item 10. Certification. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. SIGNATURE. After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: October 31, 2005 CITIGROUP INSURANCE HOLDING CORPORATION By: /s/ Ali L. Karshan -------------------------------------------- Name: Ali L. Karshan Title: Assistant Secretary ASSOCIATED MADISON COMPANIES, INC. By: /s/ Ali L. Karshan -------------------------------------------- Name: Ali L. Karshan Title: Assistant Secretary SALOMON BROTHERS ASSET MANAGEMENT INC By: /s/ Ali L. Karshan -------------------------------------------- Name: Ali L. Karshan Title: Assistant Secretary CITIGROUP FINANCIAL PRODUCTS INC. By: /s/ Ali L. Karshan -------------------------------------------- Name: Ali L. Karshan Title: Assistant Secretary CITIGROUP GLOBAL MARKETS HOLDINGS INC. By: /s/ Ali L. Karshan -------------------------------------------- Name: Ali L. Karshan Title: Assistant Secretary CITIGROUP INC. By: /s/ Ali L. Karshan -------------------------------------------- Name: Ali L. Karshan Title: Assistant Secretary Page 11 of 12 Pages EXHIBIT INDEX TO SCHEDULE 13G ----------------------------- EXHIBIT 1 --------- Agreement among CIHC, AMAD, SBAM, CFP, CGM Holdings and Citigroup as to joint filing of Schedule 13G.