* Citigroup to issue $27 bln preferred stock, cap dividend
* Government to share in losses, Pandit to stay
* S&P 500 futures rise (Adds CFO comments, details from Citigroup, paragraphs 2-5, 8, 10-16, 19-20)
By Dan Wilchins and Jonathan Stempel
NEW YORK, Nov 24 (Reuters) - The U.S. government has bailed out Citigroup Inc, agreeing to shoulder most of the potential losses on $306 billion of high risk assets and inject $20 billion of new capital, in its biggest rescue of a bank yet.
Citigroup's rescue marks the latest government effort to contain a widening financial meltdown that has caused the disappearance or bankruptcies of companies including Bear Stearns Cos, Lehman Brothers Holdings Inc and Washington Mutual Inc.
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