Citigroup Global Markets Holdings Inc., a subsidiary of Citigroup Inc., has announced the offering of a new financial product, the Bearish Upturn Securities Linked to the S&P 500 Index, with a maturity date of April 24, 2025. These unsecured debt securities do not pay interest and offer a payment at maturity that varies based on the inverse performance of the S&P 500 from the initial to the final underlying value. The securities are designed to provide a positive return only if the index depreciates, with a maximum return and maximum loss at maturity specified. The pricing date is set for April 16, 2024, with an issue date of April 19, 2024. The securities are not insured or guaranteed by any governmental agency, and investing in them...Show More

Citigroup Global Markets Holdings Inc., a subsidiary of Citigroup Inc., has announced the offering of a new financial product, the Bearish Upturn Securities Linked to the S&P 500 Index, with a maturity date of April 24, 2025. These unsecured debt securities do not pay interest and offer a payment at maturity that varies based on the inverse performance of the S&P 500 from the initial to the final underlying value. The securities are designed to provide a positive return only if the index depreciates, with a maximum return and maximum loss at maturity specified. The pricing date is set for April 16, 2024, with an issue date of April 19, 2024. The securities are not insured or guaranteed by any governmental agency, and investing in them involves risks, including the potential loss of the entire investment. Citigroup Global Markets Inc., an affiliate of the issuer, will act as the underwriter and may profit from expected hedging activities related to the offering. The securities will not be listed on any securities exchange, and their estimated value is based on proprietary pricing models and Citigroup's internal funding rate. The offering is subject to a registration statement filed with the SEC and is not yet approved for sale in any state.