Citigroup Global Markets Holdings Inc., a subsidiary of Citigroup Inc., has announced the issuance of Autocallable Phoenix Securities based on the common stock of Tesla, Inc., with a maturity date set for November 2025. The securities are unsecured debt obligations of Citigroup Global Markets Holdings Inc. and are guaranteed by Citigroup Inc. They offer potential for contingent coupon payments at an annualized rate that could yield higher than conventional debt securities of the same maturity. However, this comes with the acceptance of risks including the possibility of receiving less than the principal amount, or nothing, at maturity depending on the performance of Tesla's stock. The securities are subject to market conditions and the credit risk of both Citigroup Global Markets...Show More

Citigroup Global Markets Holdings Inc., a subsidiary of Citigroup Inc., has announced the issuance of Autocallable Phoenix Securities based on the common stock of Tesla, Inc., with a maturity date set for November 2025. The securities are unsecured debt obligations of Citigroup Global Markets Holdings Inc. and are guaranteed by Citigroup Inc. They offer potential for contingent coupon payments at an annualized rate that could yield higher than conventional debt securities of the same maturity. However, this comes with the acceptance of risks including the possibility of receiving less than the principal amount, or nothing, at maturity depending on the performance of Tesla's stock. The securities are subject to market conditions and the credit risk of both Citigroup Global Markets Holdings Inc. and Citigroup Inc. The offering includes a strike date of November 8, 2024, with an expected pricing date and issue date of November 11, 2024, and November 14, 2024, respectively. The securities will not be listed on any securities exchange, and investors must be willing to hold them until maturity. The underwriter, Citigroup Global Markets Inc., will receive an underwriting fee for each security sold, and J.P. Morgan Securities LLC and JPMorgan Chase Bank, N.A. will act as placement agents. The estimated value of the securities is based on CGMI's proprietary pricing models and internal funding rate.