Summary by Moomoo AI
Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering 4-Year Autocallable Contingent Coupon Securities linked to the S&P 500 Index (SPX). The securities, set to price on December 20, 2024, and mature on December 26, 2028, offer a contingent coupon of at least 7.00% per annum, paid quarterly if the underlying index meets specific conditions.The securities feature a 70% coupon barrier and final barrier value. They may be automatically called if the underlying's closing value equals or exceeds the initial value on any quarterly autocall date after the first year. If not called early, the payment at maturity depends on the final underlying value, with potential for significant loss if below the final barrier value.Investors face risks including potential loss of principal, limited upside exposure, and credit risk of Citigroup. The securities will not be listed on any exchange, potentially limiting liquidity. The estimated value at pricing will be less than the issue price, and the U.S. federal tax consequences are unclear.