AGÕæÈ˹ٷ½

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering Callable Contingent Coupon Equity-Linked Securities (Series N) maturing 21 Jan 2028. The $1,000-denomination notes are linked to the worst performer of three underlyings: the Nasdaq-100 Index, the SPDR S&P Regional Banking ETF (KRE) and the VanEck Gold Miners ETF (GDX).

Key Economics

• Contingent Coupon: â‰�1.2833% of par per monthly observation (â‰�15.40% p.a.), paid only when the worst performer’s closing value is â‰�70% of its initial level (the coupon barrier).
• Principal at Maturity: â€� 100% of par if the worst performer is â‰�60% of its initial value (the final barrier). â€� Otherwise, par × (1 + worst return), exposing investors to a one-for-one loss below â€�40%; the redemption value can be zero.
• Issuer Call: Citigroup may redeem at par plus accrued coupon on any monthly date from 16 Jan 2026 to 16 Dec 2027 (24 possible calls) with three business-day notice.
• Issue Price: $1,000; estimated value: â‰�$921.50 (8% discount) based on Citi’s models and internal funding rate.
• Liquidity: Not listed; CGMI intends, but is not obliged, to make a secondary market and may suspend quotes at any time.
• Credit: Unsecured senior debt of Citigroup Global Markets Holdings Inc. with full and unconditional guarantee from Citigroup Inc.

Risk/Reward Profile

• High headline yield is contingent; missing a single barrier observation cancels that month’s coupon.
• Downside exposure is concentrated in the worst performer; losses begin if any underlying falls >40% at final valuation.
• Issuer call risk caps upside and may occur when coupons have been attractive to investors.
• Investors face issuer/guarantor credit risk, lack of listing, model-based estimated value below par and potential bid-ask spreads.

Illustrative Outcomes

• If all monthly observations stay â‰�70%, investors earn â‰�15.40% p.a. and may be called early at par.
• If final worst performer is 50% of initial, maturity payment is $500 and no final coupon.
• If worst performer ends â‰�60% but <70%, principal is repaid but the final coupon is forfeited.

Investor Suitability: Complex, high-risk structure appropriate only for investors who (1) can analyze multi-asset correlations, (2) are comfortable with potential loss of principal, (3) seek above-market contingent income, and (4) accept early-call and liquidity risk.

MIRA Pharmaceuticals, Inc. (Nasdaq: MIRA) filed an 8-K (Item 8.01) dated 3 July 2025 announcing a block sale under its at-the-market equity facility.

The company sold 1,550,741 common shares at an average price of $1.2981—a premium to the prior day’s close—raising � $2.0 million in gross proceeds before fees. The transaction was executed for a single institutional investor by Rodman & Renshaw via the StockBlock platform and did not include any warrants or other derivative securities.

Capital from the raise bolsters near-term liquidity without adding warrant overhang, but it does increase the outstanding share count, creating dilution for existing shareholders. Management did not disclose post-issuance shares outstanding, current cash balance, or specific use of proceeds.

No other material events were reported in this filing.

MGIC Investment Corp. (MTG) � Form 4 insider transaction

President & COO Salvatore A. Miosi disclosed the sale of 30,000 shares of common stock on 01-Jul-2025 at a weighted-average price of $28.152 per share, generating roughly $0.84 million in proceeds. The disposition was executed under a Rule 10b5-1 trading plan adopted on 06-Mar-2025, indicating the sale was pre-scheduled and not necessarily driven by near-term information.

After the transaction, Miosi directly owns 279,401.361 shares and indirectly controls 384,844 shares via a family trust, maintaining a sizable equity stake. No derivative security activity was reported, and the filing contains no references to earnings, major corporate events, or strategic changes.

The filing primarily records a routine adjustment to the executive’s equity exposure; in isolation, it is unlikely to materially affect the company’s fundamental outlook.

Form 8-K Item 8.01 � Other Events

On 30 June 2025, MIRA Pharmaceuticals, Inc. (Nasdaq: MIRA) disclosed pre-clinical data for SKNY-1, an oral therapeutic it is under definitive agreement to acquire from SKNY Pharmaceuticals. In a zebrafish model simulating human obesity and craving behaviour, six-day oral dosing produced an approximate 30 % body-weight reduction, leaving treated animals 10 % lighter than healthy controls while preserving muscle density. Metabolic indicators improved, including higher ventilation rate, normalised liver fat, and restoration of both LDL and HDL cholesterol to healthy levels without raising circulating triglycerides.

Behaviourally, SKNY-1 dose-dependently suppressed high-calorie consumption, reduced compulsive food seeking, and eliminated nicotine-seeking even under stress. The compound also normalised leptin and ghrelin and, at lower doses, reduced elevated dopamine linked to reward cravings.

The company states that these results warrant advancement into IND-enabling studies and positions SKNY-1 as a potential cornerstone asset once the acquisition closes, citing a combined obesity and smoking market opportunity exceeding US$200 billion.

The filing does not include human data, transaction financials, development costs, or projected timelines.