Citigroup Global Markets Holdings Inc., a subsidiary of Citigroup Inc., has announced the issuance of Contingent Income Auto-Callable Securities due September 2026, linked to the performance of Upstart Holdings, Inc.'s common stock. These unsecured debt securities offer potential for quarterly contingent coupon payments at an annualized rate of 30.00%, which is higher than conventional debt securities of the same maturity. However, the actual yield could be lower or even negative, depending on the performance of Upstart Holdings, Inc.'s stock. The securities are subject to market risks, including the possibility of receiving fewer or no coupon payments, and the risk of losing the entire principal. The securities, which are not bank deposits, are not insured or guaranteed by any governmental...Show More

Citigroup Global Markets Holdings Inc., a subsidiary of Citigroup Inc., has announced the issuance of Contingent Income Auto-Callable Securities due September 2026, linked to the performance of Upstart Holdings, Inc.'s common stock. These unsecured debt securities offer potential for quarterly contingent coupon payments at an annualized rate of 30.00%, which is higher than conventional debt securities of the same maturity. However, the actual yield could be lower or even negative, depending on the performance of Upstart Holdings, Inc.'s stock. The securities are subject to market risks, including the possibility of receiving fewer or no coupon payments, and the risk of losing the entire principal. The securities, which are not bank deposits, are not insured or guaranteed by any governmental agency. The offering is expected to be priced on September 20, 2024, with an issue date of September 25, 2024, and a maturity date of September 24, 2026, unless earlier redeemed. 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 estimated value of the securities on the pricing date will be at least $904.00 per security, which is less than the issue price, reflecting costs such as underwriting fees and hedging costs.