Summary by Moomoo AI
Citigroup Global Markets Holdings Inc., a subsidiary of Citigroup Inc., has issued a new financial product called Callable Contingent Coupon Equity Linked Securities, which are linked to the performance of the Dow Jones Industrial Average, the Nasdaq-100 Index, and the S&P 500 Index. These unsecured debt securities, due on September 10, 2026, offer potential for periodic contingent coupon payments that could yield higher returns than conventional debt securities of the same maturity. However, they carry risks including the possibility of receiving no coupon payments and receiving less than the principal amount at maturity, depending on the performance of the worst-performing index. The securities were priced on September 4, 2024, with an issue date of September 9, 2024. Citigroup Inc. fully and unconditionally guarantees all payments due on the securities. The securities will not be listed on any securities exchange, and Citigroup Global Markets Inc., an affiliate of the issuer, is the underwriter. The estimated value of the securities at the time of pricing is $987.50 per security, which is less than the issue price of $1,000.00 per security.