Summary by Moomoo AI
Citigroup Global Markets Holdings Inc., a subsidiary of Citigroup Inc., has announced the issuance of Contingent Income Auto-Callable Securities due April 2025, linked to the performance of Bank of America Corporation's common stock. These unsecured debt securities offer potential for monthly contingent coupon payments at an annualized rate of approximately 12.50%, which is higher than the yield on Citigroup's conventional debt securities of the same maturity. The securities are subject to completion and are expected to be priced on April 1, 2024, with an issue date of April 4, 2024, and a maturity date of April 7, 2025, unless earlier redeemed. The securities are principal at risk, meaning investors may lose some or all of their investment depending on the performance of Bank of America...Show More