Citigroup Inc. has announced the preliminary terms of a new securities offering, with Citigroup Global Markets Holdings Inc. as the issuer and Citigroup Inc. as the guarantor. The offering involves 2 Year Dual Directional Buffer Securities linked to the S&P 500 Index (ticker: “SPX”), with a pricing date set for November 15, 2024, and a maturity date on November 19, 2026. The securities are designed to provide a digital return of 11.50% if the SPX is equal to or above a specified digital barrier value at valuation. However, if the SPX falls below this barrier but remains above a final buffer value, investors will receive an absolute return amount. Should the SPX depreciate more than the buffer percentage, investors will incur a loss of 1% of the...Show More

Citigroup Inc. has announced the preliminary terms of a new securities offering, with Citigroup Global Markets Holdings Inc. as the issuer and Citigroup Inc. as the guarantor. The offering involves 2 Year Dual Directional Buffer Securities linked to the S&P 500 Index (ticker: “SPX”), with a pricing date set for November 15, 2024, and a maturity date on November 19, 2026. The securities are designed to provide a digital return of 11.50% if the SPX is equal to or above a specified digital barrier value at valuation. However, if the SPX falls below this barrier but remains above a final buffer value, investors will receive an absolute return amount. Should the SPX depreciate more than the buffer percentage, investors will incur a loss of 1% of the principal for every 1% of depreciation beyond the buffer. The offering highlights several risks, including the potential loss of a significant portion of the investment if the underlying index depreciates beyond the buffer, limited potential returns, no interest payments, credit risk of the issuer and guarantor, and lack of liquidity as the securities will not be listed on any exchange. The estimated value of the securities at the time of pricing is less than the issue price. Citigroup has filed the necessary registration statements with the SEC, and investors are encouraged to read the accompanying documents for a more complete understanding of the offering's risks.