Summary by Moomoo AI
Citigroup Global Markets Holdings Inc., a subsidiary of Citigroup Inc., has announced the issuance of Medium-Term Senior Notes, Series N, which are unsecured senior debt securities guaranteed by Citigroup Inc. These notes, linked to the iShares iBoxx $ High Yield Corporate Bond ETF, do not pay interest but offer potential automatic early redemption at a premium. The notes are set for pricing on September 24, 2024, with an issue date of September 27, 2024, and a maturity date of September 29, 2027, unless earlier redeemed. The notes are designed for investors willing to forgo interest in exchange for the potential of an early redemption premium or a premium at maturity, based on the ETF's performance. The notes will not be listed on any securities exchange, and Citigroup Global Markets Inc., an affiliate of the issuer, will act as the underwriter. The offering is subject to a registration statement filed with the SEC and is not yet an offer to sell. The notes are not bank deposits and are not insured by any governmental agency.