diff --git a/CHANGELOG.md b/CHANGELOG.md
index cf0aacbe897..1084e865c77 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,13 +2,25 @@
 
 ## [Unreleased]
 
-## [1.4.33] 2021-??-??
+## [1.4.33] 2021-01-27
+
+### Changed
+- `merge_imports` configuration has been deprecated in favor of the new `imports_granularity` option. Any existing usage of `merge_imports` will be automatically mapped to the corresponding value on `imports_granularity` with a warning message printed to encourage users to update their config files.
+
+### Added
+- New `imports_granularity` option has been added which succeeds `merge_imports`. This new option supports several additional variants which allow users to merge imports at different levels (crate or module), and even flatten imports to have a single use statement per item. ([PR #4634](https://github.com/rust-lang/rustfmt/pull/4634), [PR #4639](https://github.com/rust-lang/rustfmt/pull/4639))
+
+See the section on the configuration site for more information
+https://rust-lang.github.io/rustfmt/?version=v1.4.33&search=#imports_granularity
 
 ### Fixed
 - Fix erroneous removal of `const` keyword on const trait impl ([#4084](https://github.com/rust-lang/rustfmt/issues/4084))
 - Fix incorrect span usage wit const generics in supertraits ([#4204](https://github.com/rust-lang/rustfmt/issues/4204))
 - Use correct span for const generic params ([#4263](https://github.com/rust-lang/rustfmt/issues/4263))
 - Correct span on const generics to include type bounds ([#4310](https://github.com/rust-lang/rustfmt/issues/4310))
+- Idempotence issue on blocks containing only empty statements ([#4627](https://github.com/rust-lang/rustfmt/issues/4627) and [#3868](https://github.com/rust-lang/rustfmt/issues/3868))
+- Fix issue with semicolon placement on required functions that have a trailing comment that ends in a line-style comment before the semicolon ([#4646](https://github.com/rust-lang/rustfmt/issues/4646))
+- Avoid shared interned cfg_if symbol since rustfmt can re-initialize the rustc_ast globals on multiple inputs ([#4656](https://github.com/rust-lang/rustfmt/issues/4656))
 
 ### Install/Download Options
 - **crates.io package** - *pending*
diff --git a/Cargo.lock b/Cargo.lock
index 527018e19f2..81c19807430 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1243,7 +1243,7 @@ dependencies = [
 
 [[package]]
 name = "rustfmt-nightly"
-version = "1.4.32"
+version = "1.4.33"
 dependencies = [
  "annotate-snippets 0.6.1",
  "anyhow",
diff --git a/Cargo.toml b/Cargo.toml
index d85fb19fdd5..9e546386b55 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -1,7 +1,7 @@
 [package]
 
 name = "rustfmt-nightly"
-version = "1.4.32"
+version = "1.4.33"
 authors = ["Nicholas Cameron <ncameron@mozilla.com>", "The Rustfmt developers"]
 description = "Tool to find and fix Rust formatting issues"
 repository = "https://github.com/rust-lang/rustfmt"