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Citigroup | 424B2: Prospectus

SEC announcement ·  Apr 26 17:00
Summary by Moomoo AI
Citigroup Inc. has announced the issuance of Medium-Term Senior Notes, Series G, under a pricing supplement filed on April 25, 2024. These Callable Zero Coupon Notes are due on April 30, 2034, with the option for Citigroup to redeem them starting April 30, 2027. The notes, which do not pay any interest, will be offered at a stated principal amount of $1,000 per note and will accrete in value at a yield of 7.75% per annum, resulting in a payment at maturity of $1,775.00 per note, unless redeemed earlier. The notes are unsecured senior debt obligations, subject to Citigroup's credit risk, and will not be listed on any securities exchange. Citigroup Global Markets Inc., an affiliate of the issuer, will act as the underwriter. The issue price...Show More
Citigroup Inc. has announced the issuance of Medium-Term Senior Notes, Series G, under a pricing supplement filed on April 25, 2024. These Callable Zero Coupon Notes are due on April 30, 2034, with the option for Citigroup to redeem them starting April 30, 2027. The notes, which do not pay any interest, will be offered at a stated principal amount of $1,000 per note and will accrete in value at a yield of 7.75% per annum, resulting in a payment at maturity of $1,775.00 per note, unless redeemed earlier. The notes are unsecured senior debt obligations, subject to Citigroup's credit risk, and will not be listed on any securities exchange. Citigroup Global Markets Inc., an affiliate of the issuer, will act as the underwriter. The issue price is set at $1,000 per note, with an underwriting fee of $10.00 per note, leading to net proceeds of $9,900,000 for Citigroup. The notes are intended to qualify as eligible debt securities for the Federal Reserve's total loss-absorbing capacity (TLAC) rule, and in the event of Citigroup's bankruptcy, losses would be imposed first on shareholders and then on unsecured creditors, including note holders. The notes may be assumed by a wholly owned subsidiary of Citigroup, with Citigroup fully guaranteeing all payments under the notes. The offering is subject to various risk factors, including the absence of a secondary market which may limit the ability to sell the notes before maturity, and the credit risk of Citigroup Inc.

This announcement is a separate document:

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