Citigroup Global Markets Holdings Inc. Warrant on Tencent Holdings Ltd.

Citigroup Global Markets Holdings Inc. Warrant on Tencent Holdings Ltd. is a structured financial derivative known as a put warrant. This instrument grants the holder the right, but not the obligation, to sell shares of Tencent Holdings Ltd. at a predetermined strike price on or before a set expiry date. The warrant is designed for investors who anticipate a decline in the price of Tencent Holdings Ltd., one of China's leading technology conglomerates with a strong footprint in digital services, social media, and gaming. As a non-collateralised product, the warrant is issued by Citigroup Global Markets Holdings Inc., a reputable global financial services provider. The product enables market participants to gain leveraged exposure to price movements in Tencent Holdings Ltd., without direct ownership of the underlying shares. Put warrants like this play an important role in the equity derivatives market, offering investors opportunities for hedging, speculation, and portfolio diversification. They are settled in cash and typically have a set lifespan, after which the warrant either delivers value if the underlying price has fallen below the strike, or expires worthless if not.