Summary by Moomoo AI
Citigroup Global Markets Holdings Inc., a subsidiary of Citigroup Inc., has announced the offering of a new financial product, the Dual Directional Buffer Securities, linked to the performance of the Nasdaq-100 Index and the S&P 500 Index. These unsecured debt securities do not pay interest and offer a variable payment at maturity based on the performance of the worst performing index. The securities provide modified exposure with the potential for limited appreciation and a buffer against depreciation, but also carry the risk of loss if the index depreciates beyond a certain percentage. The offering is scheduled for September 6, 2024, with a maturity date of October 9, 2025. The securities are not insured by any governmental agency and will not be listed on any securities exchange. Investors are warned of the risks, including the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc., and the potential for loss of principal.