Citigroup Global Markets Holdings Inc., a subsidiary of Citigroup Inc., has announced the offering of Buffered S&P 500 Index-Linked Notes, which do not pay interest and do not guarantee a fixed principal repayment at maturity. The return on these notes, due on a date to be determined between 13 and 15 months after the trade date, is linked to the performance of the S&P 500 Index. The notes offer a buffer against index declines up to 10%, but investors risk losing their entire investment if the index falls beyond this buffer. The notes are unsecured senior debt, fully guaranteed by Citigroup Inc., and will not be listed on any securities exchange, potentially limiting their liquidity. The offering is detailed in a preliminary...Show More

Citigroup Global Markets Holdings Inc., a subsidiary of Citigroup Inc., has announced the offering of Buffered S&P 500 Index-Linked Notes, which do not pay interest and do not guarantee a fixed principal repayment at maturity. The return on these notes, due on a date to be determined between 13 and 15 months after the trade date, is linked to the performance of the S&P 500 Index. The notes offer a buffer against index declines up to 10%, but investors risk losing their entire investment if the index falls beyond this buffer. The notes are unsecured senior debt, fully guaranteed by Citigroup Inc., and will not be listed on any securities exchange, potentially limiting their liquidity. The offering is detailed in a preliminary pricing supplement subject to completion, with the final terms to be set on the trade date. The notes are part of Citigroup's Medium-Term Senior Notes, Series N, and are expected to be sold initially at $1,000 per note. Citigroup Global Markets Inc. (CGMI), an affiliate of the issuer, is the underwriter and may profit from expected hedging activities related to the offering. The notes are not FDIC insured, and their estimated value will be less than the issue price due to certain costs and the use of an internal funding rate.