Summary by Futu 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, linked to the performance of the Russell 2000 Index, the S&P 500 Index, and the SPDR S&P Regional Banking ETF, offer potential for periodic contingent coupon payments with an annualized rate higher than conventional debt securities of the same maturity. The securities are subject to market risks, including the possibility of receiving no contingent coupon payments and receiving less than the principal amount at maturity. The offering, detailed in a preliminary pricing supplement dated April 15, 2024, is not yet finalized and is subject to completion. The securities are scheduled for pricing on April 17, 2024, with an issue date of April 22, 2024, and a maturity date of April 22, 2026, unless redeemed earlier. The securities will not be listed on any securities exchange, and all payments are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc.