Citigroup Global Markets Holdings Inc., a subsidiary of Citigroup Inc., has issued a new series of Medium-Term Senior Notes, Series N, which are unsecured debt securities guaranteed by Citigroup Inc. These securities, linked to the performance of the Nasdaq-100 Index, the Russell 2000 Index, and the Utilities Select Sector SPDR Fund, are designed to offer potential for periodic contingent coupon payments that could yield higher returns than conventional debt securities of the same maturity. However, these payments are contingent upon the performance of the worst-performing underlying index and carry the risk of receiving less than the principal amount at maturity, potentially zero. The securities were priced on July 2, 2024, and are due on July 8, 2026, with the possibility of Citigroup calling...Show More

Citigroup Global Markets Holdings Inc., a subsidiary of Citigroup Inc., has issued a new series of Medium-Term Senior Notes, Series N, which are unsecured debt securities guaranteed by Citigroup Inc. These securities, linked to the performance of the Nasdaq-100 Index, the Russell 2000 Index, and the Utilities Select Sector SPDR Fund, are designed to offer potential for periodic contingent coupon payments that could yield higher returns than conventional debt securities of the same maturity. However, these payments are contingent upon the performance of the worst-performing underlying index and carry the risk of receiving less than the principal amount at maturity, potentially zero. The securities were priced on July 2, 2024, and are due on July 8, 2026, with the possibility of Citigroup calling them for mandatory redemption on specified dates. 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. The initial offering saw an issue price of $1,000 per security, with a total issue size of $1,021,000.00, and an underwriting fee of $7.00 per security. The estimated value of the securities at the time of pricing was $982.70 per security, which is less than the issue price, reflecting costs such as underwriting fees, hedging, and expected profits from hedging activities.