Summary by Futu AI
Citigroup Global Markets Holdings Inc., a subsidiary of Citigroup Inc., has issued a new series of unsecured debt securities, known as Bearish Upturn Securities Linked to the S&P 500 Index, which are due on September 24, 2025. These securities, unlike conventional debt, do not pay interest and the repayment of the principal is contingent on the inverse performance of the S&P 500 from the initial value on the pricing date, September 18, 2024, to the final value on the valuation date, September 18, 2025. The securities offer a potential positive return only if the S&P 500 depreciates, with investors facing the risk of losing up to their entire investment if the index appreciates. The securities are priced at $1,000 each, with a maximum return at maturity capped...Show More