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 debt securities guaranteed by Citigroup Inc. These securities are linked to the performance of Skechers U.S.A., Inc. and are due on October 23, 2025. The securities offer potential for periodic contingent coupon payments that could yield higher than conventional debt securities of the same maturity, but with significant risks including the possibility of receiving no payments if the underlying Skechers stock performs poorly. The securities are subject to credit risk and are not FDIC insured. The pricing date is set for September 18, 2024, with an issue date of September 23, 2024. The securities will not be listed on any securities exchange, and Citigroup Global Markets Inc. will act as the underwriter. The offering is subject to completion and is not yet an offer to sell nor a solicitation of an offer to buy in any state where such offer or sale is not permitted.