Summary by Moomoo AI
Citigroup Global Markets Holdings Inc., a subsidiary of Citigroup Inc., has issued Medium-Term Senior Notes, Series N, which are unsecured debt securities guaranteed by Citigroup Inc. These securities, linked to the worst performing of three specific ETFs (Invesco QQQ Trust, iShares Russell 2000 ETF, and SPDR S&P 500 ETF Trust), are designed to offer potential for periodic contingent coupon payments that could yield higher returns than conventional debt securities of the same maturity. However, they carry significant risks, including the possibility of receiving no contingent coupon payments, a substantial loss of principal at maturity, and automatic redemption prior to maturity. The securities were priced on August 29, 2024, with an issue date of September 6, 2024, and are due on September 8, 2026. They will not be listed on any securities exchange, and their liquidity may be limited. The securities are subject to the credit risk of both Citigroup Global Markets Holdings Inc. and Citigroup Inc. Investors must be willing to accept the risks of limited liquidity and the potential loss of principal and coupon payments.