Citigroup Global Markets Holdings Inc., a subsidiary of Citigroup Inc., has announced the issuance of Medium-Term Senior Notes, Series N, linked to NVIDIA Corporation, with a maturity date of January 14, 2026. The securities are unsecured debt obligations offering potential for periodic contingent coupon payments, which if paid, could yield higher than conventional debt securities of the same maturity. However, these payments are contingent upon the performance of NVIDIA Corporation's stock, and investors may receive significantly less than the principal amount, or nothing, if performance thresholds are not met. The securities, which are not bank deposits, are not insured or guaranteed by any governmental agency, nor are they obligations of, or guaranteed by, a bank. The offering includes a pricing...Show More

Citigroup Global Markets Holdings Inc., a subsidiary of Citigroup Inc., has announced the issuance of Medium-Term Senior Notes, Series N, linked to NVIDIA Corporation, with a maturity date of January 14, 2026. The securities are unsecured debt obligations offering potential for periodic contingent coupon payments, which if paid, could yield higher than conventional debt securities of the same maturity. However, these payments are contingent upon the performance of NVIDIA Corporation's stock, and investors may receive significantly less than the principal amount, or nothing, if performance thresholds are not met. The securities, which are not bank deposits, are not insured or guaranteed by any governmental agency, nor are they obligations of, or guaranteed by, a bank. The offering includes a pricing date of July 9, 2024, an issue date of July 12, 2024, and a series of valuation dates leading up to the final valuation date on January 9, 2026. The securities will not be listed on any securities exchange, and Citigroup Global Markets Inc., an affiliate of the issuer, will act as the underwriter. The announcement also highlights the risks associated with the investment, including the potential loss of principal, credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc., and the lack of liquidity for the securities. Citigroup Inc. is set to release quarterly earnings on July 12, 2024, which coincides with the issue date of the securities.