Summary by Futu AI
Citigroup Global Markets Holdings Inc. has announced the offering of Autocallable Securities linked to the Nasdaq-100 Index, Russell 2000 Index, and Utilities Select Sector SPDR Fund, due December 21, 2029. The securities, guaranteed by Citigroup Inc., do not pay interest but offer potential automatic early redemption with a premium.The securities provide downside exposure to the worst-performing underlying index, with investors potentially losing 1% of principal for every 1% decline below the final barrier value. The estimated value of $913.80 per $1,000 security is less than the issue price, reflecting costs and expected profit for Citigroup and its affiliates.Investors face risks including potential loss of principal, limited liquidity, and exposure to the worst-performing underlying. The tax treatment is uncertain, with the securities likely treated as prepaid forward contracts. CGMI will receive an underwriting fee of up to $41.25 per security sold.