WASHINGTON (MarketWatch) - The Treasury Department said Tuesday that it has sold the last of its holdings of Citigroup. In a statement, Treasury said it has priced an offering of Citigroup C, +2.70% subordinated debt. The expected proceeds from the offering will be $894 million. The subordinated notes were issued to Treasury in exchange for Citigroup securities previously held by the Federal Deposit Insurance Corporation. The federal government invested in Citigroup in 2009 to keep the bank holding company from collapsing. Under the TARP program, the government put $45 billion into the firm, and it's received $58.4 billion in repayments and other income.