Citigroup Global Markets Holdings Inc., a subsidiary of Citigroup Inc., has announced the issuance of Medium-Term Senior Notes, Series N, which are fixed to floating rate notes linked to SOFR and due on October 6, 2025. The notes, which are unsecured debt securities, will initially bear interest at a fixed rate of 5.50% per annum for the first four months post-issuance, and subsequently at a floating rate based on SOFR plus a 0.15% spread, with a minimum interest rate of 0.00%. The notes are guaranteed by Citigroup Inc. and are designed for investors seeking fixed interest payments initially, followed by floating interest payments tied to SOFR. The pricing date for the notes is set for September 4, 2024, with an original issue date of September...Show More

Citigroup Global Markets Holdings Inc., a subsidiary of Citigroup Inc., has announced the issuance of Medium-Term Senior Notes, Series N, which are fixed to floating rate notes linked to SOFR and due on October 6, 2025. The notes, which are unsecured debt securities, will initially bear interest at a fixed rate of 5.50% per annum for the first four months post-issuance, and subsequently at a floating rate based on SOFR plus a 0.15% spread, with a minimum interest rate of 0.00%. The notes are guaranteed by Citigroup Inc. and are designed for investors seeking fixed interest payments initially, followed by floating interest payments tied to SOFR. The pricing date for the notes is set for September 4, 2024, with an original issue date of September 6, 2024. The notes will not be listed on any securities exchange, indicating potential limited liquidity for investors. Citigroup Global Markets Inc., an affiliate of the issuer, is acting as the underwriter and will receive an underwriting fee of $0.30 per note. The total issue size is $40 million, with proceeds intended for general corporate purposes and hedging related to the notes. Investors are advised to consider the risks detailed in the accompanying prospectus supplement and prospectus, including credit risk, market liquidity, and interest rate variability.