Citigroup Inc 424B Filings

Citigroup Global Markets Holdings Inc., fully guaranteed by Citigroup Inc., is offering $1,000 Medium-Term Senior Notes, Series N, structured as callable contingent coupon equity-linked securities maturing on July 24, 2031. The notes pay a quarterly contingent coupon of at least 2.9375% of principal (at least 11.75% per annum) only if, on each valuation date, the worst performing of the EURO STOXX 50® Index, Nasdaq-100 Index® and Russell 2000® Index is at or above its coupon barrier set at 65% of its initial level.

If not called on specified potential redemption dates, at maturity investors receive $1,000 per note only if the worst-performing index is at or above its 65% final barrier; otherwise repayment is reduced one-for-one with that index’s loss, potentially to $0. The issuer may redeem the notes early at par plus any due coupon. The issue price is $1,000, including a $4.50 underwriting fee, for proceeds to the issuer of $995.50 per note. Citigroup estimates the initial value at at least $928 per note, and all payments are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is issuing unsecured Autocallable Contingent Coupon Equity Linked Securities tied to the worst performer of the Dow Jones Industrial Average, Nasdaq‑100 Index® and Russell 2000® Index, maturing July 19, 2029.

The notes pay a 2.28% contingent coupon per quarter (9.12% p.a.) only if, on each valuation date, the worst-performing index is at or above its coupon barrier (65% of its initial value). The notes can be automatically called from January 2027 onward if the worst-performing index is at or above its initial level, returning $1,000 plus coupon. If not called and the worst performer ends below its 65% final barrier, principal is reduced 1:1 with the index loss, potentially to zero. The issue price is $1,000, while the estimated value is $970, and secondary market liquidity and U.S. tax treatment are both described as uncertain. All payments are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc.

Citigroup Global Markets Holdings Inc., fully guaranteed by Citigroup Inc., is offering callable contingent coupon equity-linked securities tied to the worst performing of the Dow Jones Industrial Average, Nasdaq-100 Index® and Russell 2000® Index, maturing on July 19, 2029, at $1,000 per security.

Investors may receive a quarterly contingent coupon of 1.0625% of principal (annualized 12.75%) only if, on each valuation date, the worst performing index is at or above 70% of its initial value. If the notes are not called and, on the final valuation date, the worst performer is below its 70% final barrier, principal is reduced 1% for each 1% decline, down to zero. Citigroup may redeem the notes in whole on specified dates at $1,000 plus any due coupon. All payments are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc., and the notes may have limited or no liquidity. The initial estimated value is $987.80 per $1,000, below issue price.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is issuing callable contingent coupon equity‑linked securities due July 19, 2029 tied to the worst performer of the Dow Jones Industrial Average, Nasdaq‑100 Index® and Russell 2000® Index.

Each $1,000 security pays a 0.96% monthly contingent coupon (11.52% per annum) only if, on the relevant valuation date, the worst performing index closes at or above 70% of its initial value. If it finishes below this coupon barrier on a valuation date, no coupon is paid for that period.

Unless earlier called at $1,000 plus any due coupon, the maturity payment depends on the worst index on the final valuation date: if at or above 70% of initial, investors receive $1,000; if below, they receive $1,000 plus $1,000 times that index’s return, exposing principal one‑for‑one to downside and potentially to a zero recovery.

The notes are unsecured obligations subject to the credit risk of both issuers, may have limited liquidity, and had an initial estimated value of $981.50 per $1,000, below the issue price.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is issuing autocallable contingent coupon equity-linked securities maturing April 20, 2027, linked to the worst performer of the Nasdaq‑100, Russell 2000 and S&P 500 indices. Each security has a $1,000 stated principal amount.

The notes pay a 0.8125% contingent coupon per month (annualized 9.75%, about 7.312% over the term) only if, on the relevant valuation date, the worst-performing index is at or above 80% of its initial level. If it is below that barrier, no coupon is paid for that period. Automatic early redemption can occur on specified dates starting October 15, 2026 if the worst-performing index is at or above its initial level, returning $1,000 plus the coupon, which can cut off future income.

If not called, at maturity investors receive $1,000 per security only if the worst performer is at or above 70% of its initial value; otherwise, principal is reduced one-for-one with the index decline, potentially to zero, and no final coupon is paid. The indices’ starting levels are 29,502.60 for the Nasdaq‑100, 2,976.259 for the Russell 2000 and 7,572.40 for the S&P 500, with 80% coupon barriers and 70% final barriers set from those levels.

The issue price is $1,000 per security, including up to $16 underwriting fees, for total proceeds of $4.44 million to the issuer on a $4.51 million offering. The initial estimated value is $982.40 per security, below the issue price, reflecting structuring, hedging costs and the issuer’s internal funding rate. Key risks include potential loss of all principal, non-receipt of any coupons, sensitivity to the worst-performing index, limited liquidity, and credit risk of both the issuer and guarantor.

Citigroup Global Markets Holdings Inc., fully guaranteed by Citigroup Inc., is issuing Callable Contingent Coupon Equity Linked Securities maturing on July 19, 2029, linked to the worst performing of the Dow Jones Industrial Average, the Nasdaq-100 Index® and the Russell 2000® Index. Each security has a $1,000 stated principal amount and pays a contingent coupon of 0.8208% per month (about 9.85% per year) only if, on the relevant valuation date, the worst performing index is at or above its coupon barrier, set at 70% of its initial level. Citigroup may redeem the notes early on specified dates at par plus any due coupon.

If the notes are not redeemed and, on the final valuation date, the worst performing index is at or above its final barrier (also 70% of its initial level), investors receive $1,000 per note plus any final coupon. If it is below the final barrier, repayment is $1,000 plus the index return of the worst performer, leading to losses of 1% of principal for each 1% decline and possibly a total loss, with no final coupon. Investors receive no dividends on the indices and face full credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc. The issue price is $1,000, including up to $29.50 in underwriting fees per security, while the estimated value on the pricing date is $964.00, reflecting selling, structuring and hedging costs and the issuer’s internal funding rate.

Citigroup Global Markets Holdings Inc., fully guaranteed by Citigroup Inc., is issuing autocallable contingent coupon equity-linked securities maturing April 18, 2030, linked to the worst performer of the Nasdaq-100 Index, Russell 2000 Index and S&P 500 Index. The notes pay a 2.375% quarterly contingent coupon (9.50% per annum) only if, on each valuation date, the worst-performing index is at or above 70% of its initial value. Beginning January 15, 2027, the notes are automatically called if on a potential autocall date the worst-performing index is at or above its initial level, returning $1,000 plus the coupon.

If not called, at maturity investors receive $1,000 per note only if the worst-performing index is at or above its 70% final barrier; otherwise, they receive $1,000 reduced one-for-one with the index loss, potentially down to zero. Investors forgo dividends, have no upside participation beyond coupons, face full downside to the worst index, limited or no liquidity, and are exposed to the unsecured credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc. The issue price is $1,000 per note versus an estimated value of $965.50, reflecting selling, structuring and hedging costs.

Citigroup Global Markets Holdings Inc., fully guaranteed by Citigroup Inc., is offering callable contingent coupon equity-linked securities due July 19, 2029, at $1,000 per security, linked to the worst performer of the Dow Jones Industrial Average, Nasdaq-100 Index® and Russell 2000® Index.

Investors may receive a 0.8375% monthly contingent coupon (10.05% per annum) only if, on each valuation date, the worst-performing index is at or above 70% of its initial level; missed coupons are “memory” and can be paid later if the barrier is subsequently met. At maturity, if not earlier called and the worst index is at or above 60% of its initial level, investors receive $1,000 per security; otherwise principal is reduced one-for-one with the index loss, down to zero.

Citigroup may redeem the notes early on specified dates at $1,000 plus any due coupon, capping future income. The notes do not pay dividends or participate in index upside and carry credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc., market risk from all three indices, limited liquidity, complex U.S. tax treatment and an initial estimated value of $989 per $1,000, below issue price.

Citigroup Global Markets Holdings Inc., fully guaranteed by Citigroup Inc., is issuing callable contingent coupon equity-linked securities maturing on January 21, 2028. The notes are linked to the worst performing of the Dow Jones Industrial Average, the Russell 2000 Index and the VanEck Semiconductor ETF.

Each $1,000 note pays a 2.1417% contingent coupon per period (about 25.70% per annum) only if, on the relevant valuation date, the worst underlying is at or above 70% of its initial value. Principal is protected only if, on the final valuation date, the worst underlying is at or above 60% of its initial value; otherwise repayment is reduced 1‑for‑1 with that underlying’s loss and can fall to zero. Citigroup may call the notes in whole on specified dates, paying $1,000 plus any due coupon.

The issue price is $1,000 per note with total proceeds of $2,844,000; the initial estimated value is $983.20 per note, reflecting selling, structuring and hedging costs and the issuer’s internal funding rate. Investors face the credit risk of Citigroup, the possibility of no coupons, substantial downside exposure to the weakest underlying, limited liquidity, complex U.S. tax treatment and multiple index- and ETF-specific risks.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is issuing autocallable unsecured notes linked to the S&P 500 Futures 40% Edge Volatility 6% Decrement Index (USD) ER, maturing on July 20, 2034. Each security has a $1,000 stated principal amount and may be automatically redeemed on quarterly valuation dates starting July 15, 2027 if the index closes at or above the initial value of 702.255. Upon such early redemption, investors receive $1,000 plus a fixed premium that starts at 19.75% and steps up over time to 158.00% of principal on the final valuation date.

If not called, at maturity investors receive $1,000 plus the applicable premium if the final index level is at or above the 50% barrier of 351.128. Otherwise, repayment is $1,000 × (1 + index return), giving full downside exposure and allowing a loss of up to the entire investment. The notes pay no interest, provide no participation above the fixed premiums, and do not pass through dividends. The underlying index is described as highly risky, combining up to 500% leveraged exposure to S&P 500 futures with a 6% per annum decrement. Issue price is $1,000, with an estimated value of $887.20 and aggregate offering size of $2.745 million, and all payments are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering autocallable contingent coupon equity-linked securities tied to Take-Two Interactive Software, Inc. with a stated principal of $1,000 per security, maturing on August 27, 2027, unless called earlier.

Investors may receive contingent coupons of at least 1.1958% of principal on each valuation cycle (about 14.35% per annum) only when TTWO’s closing value is at or above the coupon barrier. The notes can be automatically redeemed on specified autocall dates if TTWO is at or above its initial value, paying $1,000 plus the coupon.

If not called and TTWO’s final value is below the final barrier (58% of the initial value), principal is reduced 1% for each 1% decline in the stock, down to possible zero. Investors forgo dividends and upside in TTWO and take on the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc. The estimated value on the pricing date is expected to be at least $931.50 per $1,000, below the issue price, reflecting selling, hedging costs and use of an internal funding rate.

Citigroup Global Markets Holdings Inc., fully guaranteed by Citigroup Inc., is issuing Callable Contingent Coupon Equity Linked Securities maturing July 18, 2031, with a $1,000 stated principal per security. Payments depend on the worst performing of the Nasdaq‑100 Index®, Russell 2000® Index and S&P 500® Index.

On each quarterly valuation date, investors receive a 2.50% coupon (10.00% per annum) only if the worst-performing index is at or above 60% of its initial level. If that index is below the coupon barrier, no coupon is paid. At maturity, if the worst-performing index is at or above 60% of its initial level, investors receive $1,000 plus any final coupon. If it is below 60%, principal is reduced 1:1 with the index loss, potentially to $0.

The issuer may call the notes on specified dates at $1,000 plus any due coupon, capping future income. The issue price is $1,000, with an estimated value of $983.50 and an underwriting fee up to $7.50 per note. Investors face complex risks: equity market risk on three indices, worst‑of and barrier features, issuer and guarantor credit risk, uncertain liquidity, and uncertain U.S. tax treatment.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is issuing Autocallable Contingent Coupon Equity Linked Securities with a stated principal of $1,000 per security, linked to the worst performer of Invesco QQQ, iShares Russell 2000 ETF and SPDR S&P 500 ETF.

The notes pay a 2.5625% quarterly contingent coupon (annualized 10.25%) only if, on each valuation date, the worst-performing underlying is at or above 65% of its initial value. Missed coupons can be paid later if the barrier is met, but may be lost entirely. The securities are automatically called at par plus coupon if, on any autocall date, the worst performer is at or above its initial value.

If not called, at maturity investors receive par only if the worst performer is at or above its 65% final barrier; otherwise they receive a fixed number of shares of that ETF (or cash equivalent), exposing them to unlimited downside up to total loss. The notes are unsecured, subject to Citigroup credit risk, may have limited liquidity, and have an estimated value of $986.30 versus the $1,000 issue price.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering Callable Contingent Coupon Equity Linked Securities with an aggregate issue price of $3,181,000, linked to the worst performing of the Dow Jones Industrial Average, Nasdaq-100 Index® and Russell 2000® Index, maturing June 21, 2028.

Investors receive a 0.8417% quarterly contingent coupon (about 10.10% per annum) only if on each valuation date the worst performing index is at or above its coupon barrier, set at 70% of its initial value. At maturity, if not called and the worst index stays at or above its 70% final barrier, principal of $1,000 per security is repaid; otherwise, repayment is reduced 1:1 with the index loss and can fall to zero.

The notes are callable in whole at Citigroup’s option on specified dates starting in 2027 at $1,000 plus any due coupon. They do not pay dividends or provide upside participation, have limited liquidity, are highly sensitive to index volatility, and are subject to the full credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc. The estimated value on the pricing date is $971.70 per $1,000, below the issue price, reflecting selling, structuring and hedging costs.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering unsecured Autocallable Contingent Coupon Equity Linked Securities tied to Take-Two Interactive Software, Inc. (TTWO), maturing on August 27, 2027, with a stated principal of $1,000 per security.

Investors may receive a contingent coupon of at least 1.0042% per period (about 12.05% per annum) only when TTWO’s closing value on each valuation date is at or above a coupon barrier set at 58.00% of the initial value. The notes are autocallable if TTWO is at or above its initial value on specified dates, returning $1,000 plus the coupon. If held to maturity and not called, principal is repaid in full only if the final value is at or above the same 58% barrier; otherwise repayment is reduced one-for-one with TTWO’s decline, potentially to $0. The issue price is $1,000, with an underwriting fee of $21.50, net proceeds of $978.50 per security, and an estimated value of at least $915.00, all subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc. and limited secondary market liquidity.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is issuing autocallable contingent coupon equity-linked securities tied to International Business Machines Corporation (IBM), each with a $1,000 stated principal amount and scheduled to mature on July 19, 2029, unless automatically redeemed earlier.

The notes pay a 3.625% contingent coupon per period (equivalent to 14.50% per annum) only if IBM’s closing value on the relevant valuation date is at or above the coupon barrier of $108.535, which is 50% of the initial underlying value of $217.07. If on any potential autocall date IBM’s value is at or above the initial value, the notes are automatically redeemed for $1,000 plus the coupon, capping future income.

If not called and IBM’s final value is below the final barrier of $108.535, repayment at maturity is $1,000 + ($1,000 × underlying return), producing a loss of 1% of principal for each 1% IBM has fallen, down to a total loss. Investors forgo dividends and upside in IBM, face full credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc., limited liquidity, an estimated value of $961.90 per $1,000 note (below issue price), and complex, uncertain U.S. tax treatment, including potential 30% withholding on coupons for non‑U.S. holders.

Citigroup Global Markets Holdings Inc., fully guaranteed by Citigroup Inc., is offering unsecured Callable Contingent Coupon Equity Linked Securities due January 21, 2028. The notes are linked to the worst performing of the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index.

Each $1,000 security pays a contingent coupon of 1.0083% per monthly period (about 12.10% per annum) only if, on the relevant valuation date, the worst-performing index is at or above its coupon barrier, set at 70.00% of its initial level. Principal repayment is similarly protected only if, on the final valuation date, the worst-performing index is at or above its final barrier (also 70% of initial); otherwise, maturity payment is reduced one-for-one with that index’s loss, down to zero.

The issuer may call the notes in whole on specified dates, paying $1,000 plus any due coupon, which would end future coupons. The estimated value is $985.30 per $1,000 issue price, reflecting internal funding and hedging costs. Investors face equity market, correlation, credit, liquidity and complex U.S. tax risks, and do not receive dividends or upside beyond contingent coupons.

Citigroup Global Markets Holdings Inc., fully guaranteed by Citigroup Inc., is issuing callable contingent coupon equity-linked securities tied to the worst performer of the EURO STOXX® Banks Index and the SPDR® S&P® Regional Banking ETF (KRE), maturing July 18, 2031. The notes have a $1,000 stated principal amount, initial index values of 299.68 for the EURO STOXX® Banks Index and $75.78 for KRE, with coupon barriers at 75% and final barriers at 60% of those levels. They pay a 2.90% quarterly contingent coupon (11.60% per annum) only when, on each valuation date, the worst-performing underlying is at or above its coupon barrier, with unpaid coupons potentially paid later if the barrier is again met. Citigroup may call the notes in whole on specified dates at $1,000 plus any coupon. At maturity, if not called, investors receive $1,000 per note if the worst performer is at or above its final barrier; otherwise, repayment is reduced 1:1 with the underlying’s loss, potentially to zero, with no coupon. The issue price is $1,000 per note, including up to $37.50 in underwriting fees, versus an estimated value of $930.90, and the notes carry full credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering autocallable contingent coupon equity-linked securities due July 18, 2031, linked to the worst performing of the Nasdaq‑100 Index, the S&P 500 Index and the VanEck Semiconductor ETF, with a $1,000 stated principal amount per security.

The notes pay a contingent coupon of 1.6333% of principal per valuation period (about 19.60% per annum) only if the worst performing underlying on the prior valuation date is at or above 70% of its initial value; otherwise no coupon is paid. Starting October 15, 2026, the notes are automatically redeemed if, on a potential autocall date, the worst performer is at or above its initial value, returning $1,000 plus the applicable coupon.

If not called, maturity repayment depends on the worst performer on the final valuation date. Full principal is repaid only if its final value is at least 70% of its initial value; below that “buffer percentage” of 30%, principal is reduced 1% for each additional 1% decline, potentially resulting in a substantial loss. Investors face the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc., limited or no secondary market liquidity, complex U.S. tax treatment and heightened market risk from exposure to three correlated equity underlyings.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering autocallable unsecured notes linked to the worst performing of the Nasdaq‑100 Index®, the S&P 500® Index and the State Street® Utilities Select Sector SPDR® ETF, maturing July 19, 2029, at $1,000 per security.

The notes pay no interest and may be automatically redeemed on scheduled valuation dates if the worst performing underlying is at or above its initial value, returning $1,000 plus a fixed premium of up to 36.60% at final maturity. If held to maturity and not called, investors receive $1,000 plus the final premium if the worst performer is at or above its 80% trigger, par back if it is between the 80% trigger and the 60% final barrier, and a 1‑for‑1 loss with index declines below the barrier, potentially losing all principal. The initial estimated value is $970.80 per security, below the issue price, and liquidity is expected to be limited to an indicative secondary market made at CGMI’s discretion.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering principal-at-risk “Trigger Jump Securities” linked to Alphabet Inc. Class A common stock. Each security has a $1,000 stated principal amount and matures in approximately 2 years, with no periodic interest.

At maturity, if Alphabet’s final share price is at or above the initial share price, holders receive $1,000 plus a fixed return of at least $458.00 (≥45.80%). If the final price is below the initial but at or above the trigger price (80% of the initial price), investors receive only the $1,000 principal. If the final price is below the trigger, repayment falls 1-for-1 with the share decline and can be as low as $0, so investors may lose their entire investment.

The issue price is $1,000 per security; CGMI expects the estimated value on the pricing date to be at least $917.50, reflecting structuring and distribution costs. CGMI receives an underwriting fee of $25 per $1,000, including a $20 selling concession and a $5 structuring fee to Morgan Stanley Wealth Management. The notes are treated as prepaid forward contracts for U.S. tax purposes, with complex and potentially changing tax and withholding rules, including Section 871(m) considerations for non-U.S. holders.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering Single Observation Equity Linked Securities linked to Constellation Energy Corporation with a stated principal amount of $1,000 per security, maturing on October 22, 2026.

The securities pay monthly coupons at an annualized rate of at least 17.60% (about 1.4667% per month), but repayment of principal is conditional. If on the October 19, 2026 valuation date Constellation’s share price is at or above the final barrier value of $188.828 (75% of the initial value of $251.77), investors receive $1,000 plus the final coupon. If it is below the barrier, investors receive a fixed number of shares (equity ratio 3.97188) or, at the issuer’s option, equivalent cash, which may be worth substantially less than $1,000 and could be zero, aside from the final coupon.

The issue price is $1,000 with an underwriting fee of up to $5.00 per security and minimum issuer proceeds of $995.00. Citigroup estimates the initial value at at least $937.50 per security, below the issue price, reflecting structuring, hedging costs and internal funding rates. The notes are unsecured and subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc., may have limited or no secondary market, and involve complex risks and uncertain U.S. tax treatment, including potential issues under Section 871(m) for non-U.S. holders.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., offers bearish autocallable notes linked to the S&P 500® Index with a stated principal of $1,000 per note, pricing on July 21, 2026 and maturing on January 26, 2028 unless redeemed earlier.

The notes automatically redeem during specified autocall periods if the index closing value is less than or equal to 80.00% of the initial level, paying $1,000 plus a time-based premium that can reach $180 (total $1,180) on the last potential autocall date. If not redeemed and the final index level is below the initial, payment at maturity equals $1,000 plus $1,000 × the absolute value of the index return; if the index ends at or above its initial level, only the $1,000 principal is returned.

The notes pay no dividends, are not listed on any exchange, and their return is likely capped near 20.00% at maturity because of the autocall feature. They are unsecured debt subject to issuer and guarantor credit risk and are expected to be treated as contingent payment debt instruments for U.S. federal income tax purposes, requiring accrual of interest income based on a comparable yield.

Citigroup Global Markets Holdings Inc., fully guaranteed by Citigroup Inc., is issuing Autocallable Securities due July 22, 2036, linked to the S&P 500 Futures 35% Edge Volatility 6% Decrement Index (USD) ER. Each security has a $1,000 stated principal amount, no interest and no principal guarantee.

The notes may be automatically redeemed on any of 39 valuation dates from July 14, 2027 through July 17, 2036 if the index closing value is at or above the initial value of 555.3365, paying $1,000 plus a fixed premium that steps up to 237.50% of principal on the final valuation date. If not called, at maturity holders receive (i) $1,000 plus the final premium if the index is at or above the initial value, (ii) $1,000 if the index is below the initial value but at or above the 50% barrier of 277.668, or (iii) $1,000 plus 1-to-1 downside exposure to the index return if the final value is below the barrier, with losses up to 100% of principal.

The underlying index is described as highly risky, using volatility targeting with leverage up to 500% and a 6% per annum decrement, and is expected to underperform the S&P 500 Index. The issue price is $1,000 per note, including a $50 underwriting fee; the estimated value on the pricing date is $908.80, reflecting sales, structuring and hedging costs. Payments are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc., and the issuer warns of limited or no secondary market and complex, uncertain U.S. tax treatment.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering $1,000-denomination autocallable contingent coupon equity-linked securities tied to the Nasdaq-100 Futures 35% Edge Volatility 6% Decrement™ Index ER, maturing July 22, 2036. The notes pay a contingent coupon of 1.2042% of face value per month (about 14.45% per year) only if, on the relevant valuation date, the index closes at or above the coupon barrier of 1,089.307, which is 60% of the initial level of 1,815.511.

If on any trading day from July 19, 2027 to just before the final valuation date the index closes at or above its initial level, the notes are automatically redeemed for $1,000 per security (plus any due coupon if that day is also a valuation date), limiting upside by ending future coupon periods. If held to maturity and not earlier called, investors receive $1,000 per note if the final index level is at or above the final barrier of 907.756 (50% of the initial level); if it is below that barrier, repayment is reduced linearly with the index return and can fall to zero, with no final coupon.

The underlying index is a Citigroup-affiliated, volatility-targeted, leveraged futures-based strategy with a 35% volatility target and a 6% per annum decrement, features that can cause it to underperform the Nasdaq-100 Index®. The estimated value at pricing is $881.80 per note versus the $1,000 issue price, reflecting structuring and hedging costs. The notes involve complex index methodology, issuer and guarantor credit risk, potential early redemption at fair value upon certain Cboe volatility index methodology changes, and significant U.S. tax and withholding uncertainty, including possible 30% withholding on coupons for some non-U.S. investors.

Citigroup Global Markets Holdings Inc., fully guaranteed by Citigroup Inc., is issuing Autocallable Contingent Coupon Equity Linked Securities maturing July 24, 2031. These unsecured senior notes have a $1,000 stated principal and are linked to the worst performing of the Nasdaq‑100 Index®, the Russell 2000® Index and the S&P 500® Index.

Investors may receive contingent coupons of 0.6667% per period (about 8.00% per annum), but only if on each valuation date the worst performing index is at or above 70.00% of its initial value. Beginning July 20, 2027, on specified potential autocall dates the notes are automatically redeemed at $1,000 plus coupon if the worst performer is at or above its initial level, which can cut off future coupons.

If the notes are not called and on the final valuation date the worst performer is at or above 70.00% of its initial value, investors receive full principal back (plus any final coupon). If it is below 70.00%, repayment is $1,000 plus the index return of the worst performer, exposing holders to a loss of up to 100% of principal with no minimum repayment. The estimated value on the pricing date is expected to be at least $901.00 per note, below the $1,000 issue price, reflecting dealer costs, hedging and internal funding. The notes carry the credit risk of both Citigroup Global Markets Holdings Inc. and Citigroup Inc. and may have limited or no secondary market liquidity.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering medium-term senior Callable Contingent Coupon Equity Linked Securities due July 26, 2029, linked to the worst performing of the Nasdaq-100 Index®, the Russell 2000® Index and the State Street® SPDR® S&P® Regional Banking ETF.

Each $1,000 security may pay a 0.825% contingent coupon per period (equivalent to 9.90% per annum) only if, on the relevant valuation date, the worst performing underlying is at or above its coupon barrier, set at 60.00% of its initial value. If the securities are not called and, on the final valuation date, the worst performing underlying is below its 60.00% final barrier, principal is reduced 1:1 with that underlying’s loss, potentially to zero.

The issuer may redeem the notes early on specified dates at $1,000 plus any due coupon. The issue price is $1,000, including up to a $28.00 underwriting fee, with at least $972.00 per security to the issuer and an estimated value of at least $903.00, reflecting selling, structuring and hedging costs. The securities are unsecured, subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc., and may have limited or no secondary market liquidity.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering autocallable barrier securities, issued as Medium-Term Senior Notes, Series N, each with a $1,000 stated principal amount and maturing on July 26, 2029 unless redeemed earlier. The notes are linked to the worst performer of the Dow Jones Industrial Average, the Nasdaq-100 Index® and the Russell 2000® Index.

The notes pay no interest and do not guarantee return of principal. On July 21, 2027, if the worst-performing index is at or above its initial value, the notes are automatically redeemed for $1,150 per $1,000 security (15% premium). If not redeemed, at maturity investors receive: (i) $1,000 plus upside if the worst-performing index is above its initial value, with an 189.00% upside participation rate; (ii) $1,000 if the worst-performing index is at or below its initial value but at or above 60.00% of that value; or (iii) 1-for-1 downside loss if it finishes below 60.00%, down to a possible zero repayment.

The issue price is $1,000, including up to $29.50 in underwriting fees, for minimum issuer proceeds of $970.50 per note. Citigroup expects the estimated value on the pricing date to be at least $912.50, below the issue price, reflecting selling, structuring and hedging costs. All payments are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc., and secondary market liquidity may be limited.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering medium-term senior notes in the form of callable contingent coupon equity-linked securities tied to the worst performing of the Nasdaq-100 Index, Russell 2000 Index and S&P 500 Index, maturing January 27, 2028.

Each security has a $1,000 stated principal amount and pays a contingent coupon of 1.0333% per period (about 12.40% per annum) only if, on the relevant valuation date, the worst performing index is at or above 70.00% of its initial value. Principal is fully repaid at maturity only if the worst performing index on the final valuation date is at or above its 70.00% final barrier; otherwise repayment is reduced one-for-one with the index decline and can fall to zero.

The issuer may call the notes in whole on specified dates, paying $1,000 plus any due coupon. The estimated value on the pricing date is expected to be at least $936.50 per security, below the issue price, reflecting structuring, hedging costs and internal funding. Investors face Citigroup Global Markets Holdings Inc. and Citigroup Inc. credit risk, limited liquidity, complex tax treatment and potential 30% withholding on coupons for non-U.S. holders.

Citigroup Global Markets Holdings Inc., fully guaranteed by Citigroup Inc., is issuing floating rate notes due July 20, 2066 with a stated principal amount of $1,000 per note. The notes pay quarterly interest at daily compounded SOFR plus 0.10%, subject to a minimum interest rate of 0.00% per annum, using an Actual/360 day-count convention.

Interest is payable on the 20th of January, April, July and October, starting October 20, 2026, and full principal is due at maturity. Investors may request annual early repurchase on or after July 20, 2029 for at least $10,000 in principal, receiving per $1,000 note $970 from 2029–2030, $980 from 2031–2033, $990 from 2034–2036 and $1,000 from 2037 to 2037–2065 repurchase dates, plus accrued interest.

The notes will not be listed on any securities exchange and may have limited liquidity. CGMI acts as underwriter, earning an underwriting fee of up to $10 per note; net proceeds are for general corporate purposes and hedging activities. The notes are treated as variable rate debt instruments for U.S. federal income tax purposes and are intended to qualify as “qualified replacement property,” although that status is not assured.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is issuing $16,419,170 of Trigger Autocallable GEARS linked to the MSCI Emerging Markets Index, maturing July 18, 2029. Each unsecured note has a $10 stated principal amount and offers an automatic call on July 22, 2027 if the index is at or above the autocall barrier of 100% of the initial level of 1,688.23. If called, investors receive $10 plus an 18.00% call return ($11.80 total) and no further payments.

If not called, maturity payoff depends on index performance. For a positive index return, investors receive $10 plus leveraged upside at a gearing of 2.11. If the index return is zero or negative but the final level is at or above the downside threshold of 75% of the initial level (1,266.17), principal is repaid. If the final level falls below the threshold, investors are fully exposed to losses on a 1-to-1 basis and can lose up to 100% of principal. Investors forgo dividends on the index constituents, face limited or no secondary liquidity, and are exposed to the credit risk of both the issuer and Citigroup Inc.; any default could result in loss of the entire investment.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering unsecured structured notes linked to the Nasdaq-100, Russell 2000 and S&P 500 indices. Each security has a $1,000 stated principal amount, for a total public offering of $10,948,000.

The notes pay a 9.20% per annum contingent coupon, due monthly only if the lowest performing index on the prior calculation day is at or above its coupon threshold (70% of its starting value). The notes are automatically redeemed at par plus coupon if, on any potential autocall date from January 2027 to June 2029, the lowest performing index is at or above its starting value.

If not called, at maturity in July 2029 investors receive par only if the lowest performing index is at or above its downside threshold (60% of starting value); otherwise repayment is reduced in proportion to that index’s decline, potentially to zero. The estimated value is $972.10 per note, below the public price, and investors face issuer and guarantor credit risk, limited or no secondary liquidity, and uncertain U.S. tax treatment, including possible 30% withholding on coupons for some non-U.S. holders.

Citigroup Global Markets Holdings Inc., fully guaranteed by Citigroup Inc., is offering autocallable equity-linked securities with a stated principal amount of $1,000 per security, linked to the worst performing of Alphabet Inc., NVIDIA Corporation and the VanEck Semiconductor ETF. Initial underlying values are Alphabet $370.92, NVIDIA $212.50 and VanEck Semiconductor ETF $590.77, each with a 50.00% final barrier set at $185.460, $106.250 and $295.385, respectively.

The notes pay a fixed coupon of 0.975% per month (11.70% per annum) until redeemed or matured, and may be automatically called on scheduled dates from July 2027 through June 2028 if the worst performing underlying is at or above a step-down autocall barrier (from 100.00% to 78.00% of its initial value). If held to maturity and not called, investors receive $1,000 per note plus the final coupon if the worst performer finishes at or above its barrier; otherwise they receive $1,000 plus the underlying return of the worst performer, which can reduce repayment to zero. The issue price is $1,000, including a $26.00 underwriting fee and $974.00 in proceeds to the issuer, and the estimated value is expected to be at least $895.00 per security. The securities are unsecured obligations, not bank deposits, and are not insured by the FDIC.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering Autocallable Phoenix Securities linked to the Invesco QQQ Trust with an aggregate stated principal amount of $12,000,000 ($1,000 per security), maturing July 19, 2027.

Investors may receive a monthly contingent coupon of 1.4167% of principal if QQQ’s closing price on the relevant valuation date is at or above the coupon barrier of $652.959 (90% of the $725.51 initial share price). Missed coupons have a “memory” feature and are paid if the barrier is met on a later date, but are forfeited if it is never met, including on the final valuation date.

The notes auto-call at $1,000 plus any due coupons (including unpaid past coupons) if QQQ closes at or above the initial share price on any interim valuation date. If held to maturity and not called, investors receive par plus coupons if the final price is at or above the final barrier of $652.959; otherwise repayment follows a buffered loss formula with a 10% buffer, and principal can be reduced substantially, down to zero. The estimated value is $996.10 per $1,000 security, below the issue price, and the notes carry issuer and guarantor credit risk, complex U.S. tax treatment and potential 30% withholding on coupons for many non-U.S. holders.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering unsecured autocallable equity-linked notes tied to the worst performer of the Nasdaq-100, Russell 2000 and S&P 500. Each note has a $1,000 principal amount, prices on July 24, 2026 and matures July 29, 2031, unless called earlier.

Holders may receive quarterly contingent coupons of at least 2.7625% of principal (equivalent to at least 11.05% per annum) only when the worst index on the prior valuation date is at or above 70.00% of its initial level. The notes are automatically redeemed at $1,000 plus the coupon if, on specified potential autocall dates, the worst index is at or above its initial level.

If not called, maturity repayment depends on the worst index on the final valuation date: return of principal if it is at or above 60.00% of its initial level, or principal reduced one-for-one with its loss below that barrier, down to zero. Investors forgo dividends and upside in the indices, face limited liquidity, complex tax treatment and full credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc. The estimated value on the pricing date is expected to be at least $945.50 per $1,000 note, below the issue price.

Citigroup Global Markets Holdings Inc., fully guaranteed by Citigroup Inc., is offering $10,021,000 of Autocallable Buffered Notes linked to the MSCI Emerging Markets Index (MXEF), each with a stated principal amount of $1,000 and scheduled to mature on July 19, 2028.

If on the July 23, 2027 valuation date the index closes at or above the initial level of 1,690.70, the notes are automatically redeemed for $1,218 per $1,000 note (a 21.80% premium) and terminate. If not called, at maturity investors receive $1,000 plus 125% of any positive index return.

If the final index value is below the initial level but at or above 85.00% of it (1,437.095), principal is repaid in full. Below that buffer, principal is reduced, with losses increasing at approximately 117.647% of the index decline beyond the 15.00% buffer. The estimated value is $973.40 per note versus the $1,000 issue price, based on CGMI’s proprietary pricing models and internal funding rate, and investors bear both Citigroup credit risk and the product’s structural and tax complexity.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is issuing $9,575,000 of unsecured structured notes in $1,000 denominations linked to the iShares Expanded Tech-Software ETF, the Russell 2000 Index and the S&P 500 Index. The notes pay a 10.50% per annum contingent monthly coupon only if, on each calculation day, the lowest performing underlying is at or above 60% of its starting value, and the notes may be automatically redeemed from January 2027 through June 2029 if that lowest underlying is at or above its starting value.

If not called and at maturity in July 2029 the lowest underlying is at or above its 60% downside threshold, investors receive the $1,000 principal per note; if it is below, repayment is reduced in proportion to that decline, potentially to zero, and no final coupon is paid. The notes carry the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc., have limited expected secondary liquidity, and feature an estimated value of $971.40 per note on the pricing date, below the $1,000 public offering price due to selling, structuring and hedging costs and the issuer’s internal funding rate. Complex U.S. tax treatment and potential 30% withholding on coupons for certain non-U.S. holders are highlighted.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering unsecured Medium-Term Senior Notes linked to the worst performing of the EURO STOXX 50, Nasdaq-100 and Russell 2000 indices. Each $1,000 security may pay a monthly contingent coupon of at least 0.50% (6.00% per year) when the worst index is at or above 80.00% of its initial level. Coupons are not guaranteed; if the worst index closes below its barrier on a valuation date, no coupon is paid for the following month.

The notes may be automatically redeemed on scheduled dates from January 2027 through June 2029 if the worst index is at or above its initial level, paying $1,000 plus any due coupon. If not called, investors receive the $1,000 principal at maturity on July 23, 2029, plus any final coupon, subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc. The issue price is $1,000 per security, including a $5.00 underwriting fee, with net proceeds of $995.00; the issuer expects an estimated value of at least $951.00 per security based on proprietary models, and secondary market liquidity may be limited.

Citigroup Global Markets Holdings Inc., fully guaranteed by Citigroup Inc., is offering $2,000,000 of Autocallable Buffered Notes linked to an equally weighted basket of Bank of America, Capital One Financial, Morgan Stanley and Wells Fargo stocks. Each note has a $1,000 stated principal amount, a strike date of July 13, 2026, a pricing date of July 14, 2026 and will mature on July 19, 2028, unless automatically redeemed.

The notes may be called early on July 26, 2027 if the basket is at or above its initial level, paying $1,191 per note (a 19.10% premium). If held to maturity, investors receive par plus 125% of any basket gain, par if the basket is down up to 10%, and suffer increasing losses below the 10% buffer, potentially losing their entire investment. The initial basket level is 100, the final buffer level is 90 and the buffer rate is about 111.11%. The issue price is $1,000 per note (or $985 in fiduciary accounts), including a $15 underwriting fee, while Citigroup’s estimated value is $974.50 per note. Investors do not receive dividends on the stocks and bear issuer and guarantor credit risk, product complexity and uncertain tax treatment, with counsel viewing the notes as prepaid forward contracts subject to possible future tax changes.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering Medium-Term Senior Notes, Series N as callable contingent coupon equity-linked securities tied to the worst performing of the Dow Jones Industrial Average, the Nasdaq-100 Index® and the S&P 500® Index, maturing on January 2, 2029. Each security has a stated principal amount of $1,000. On each monthly valuation date, a contingent coupon of at least 1.00% of principal (at least 12.00% per annum) is paid only if the worst-performing index is at or above 70% of its initial value.

If the notes are not earlier called, and on the final valuation date the worst-performing index is at or above 70% of its initial value, investors receive $1,000 plus any final coupon; if it is below 70%, repayment is reduced one-for-one with the index loss, potentially to $0. Citigroup may redeem the notes at par plus coupon on many coupon dates, capping future income when conditions are favorable. The notes are unsecured obligations subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc., may have limited liquidity, and are expected to have an initial estimated value of at least $945 per $1,000, below the issue price.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering unsecured medium-term senior notes called Callable Contingent Coupon Equity Linked Securities tied to the worst performing of the Dow Jones Industrial Average™, Nasdaq-100 Index® and S&P 500® Index.

Each $1,000 security may pay a contingent coupon of at least 1.00% per period (at least 12.00% per annum) when the worst performing index on a valuation date is at or above 70.00% of its initial level; otherwise no coupon is paid. If not redeemed early and the worst performer is at or above 70.00% of its initial value at maturity on November 30, 2028, investors receive $1,000 plus any final coupon; below that barrier, repayment is reduced one-for-one with the index loss, potentially to zero. The issuer may call the notes on specified dates at $1,000 plus coupon, limiting income duration. The notes are not principal protected, pay no dividends, may have limited liquidity, and all payments depend on the credit of Citigroup Global Markets Holdings Inc. and Citigroup Inc.; the estimated value on the pricing date is expected to be at least $930.00 per security, below the $1,000 issue price.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering Callable Contingent Coupon Equity Linked Securities linked to the worst of the Dow Jones Industrial Average, Nasdaq‑100 Index® and S&P 500® Index, maturing October 2, 2028.

Each note has a $1,000 principal amount and may pay a contingent coupon of at least 1.00% per period (at least 12.00% per annum) whenever the worst performing index on a valuation date is at or above 70.00% of its initial level. If the worst index closes below this coupon barrier on a valuation date, no coupon is paid for that period.

At maturity, if not previously called and the worst index is at or above 70.00% of its initial level, investors receive $1,000 plus any final coupon; otherwise they receive $1,000 plus $1,000 times that index’s return, which can reduce repayment to zero. Citigroup may redeem the notes on specified dates at $1,000 plus any due coupon. Investors have downside exposure to the worst index, receive no dividends or upside above par, bear the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc., and may face limited secondary market liquidity. The estimated value on the pricing date is expected to be at least $939 per note, below the $1,000 issue price.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering medium‑term senior callable contingent coupon equity‑linked securities tied to the worst of the Dow Jones Industrial Average, the Nasdaq‑100 Index and the S&P 500 Index, maturing on May 22, 2028.

The notes pay periodic contingent coupons of at least 1.00% of principal (at least 12.00% per annum) only if the worst‑performing index on each valuation date is at or above 70.00% of its initial value. If at final valuation the worst index is below 70.00%, repayment of the $1,000 principal is reduced one‑for‑one with the index loss, potentially to zero. Citigroup may redeem the notes early on specified dates at $1,000 plus any due coupon. Per note economics include a $1,000 issue price, up to $4.50 underwriting fee, $995.50 proceeds to the issuer and an estimated value of at least $941.50, with payments subject to Citigroup Global Markets Holdings Inc. and Citigroup Inc. credit risk and limited secondary market liquidity.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering callable contingent coupon equity‑linked senior notes tied to the worst performing of the Dow Jones Industrial, Nasdaq‑100 Index® and S&P 500® Index, each with a $1,000 stated principal amount.

The notes may pay contingent coupons of at least 1.00% of principal per period (equivalent to at least 12.00% per annum) only when the worst performing index on the prior valuation date is at or above 70% of its initial level. If not, no coupon is paid for that period. Citigroup may redeem the notes on specified dates at $1,000 plus any applicable coupon.

If held to maturity and the worst performing index is at or above 70% of its initial level, investors receive principal back plus any final coupon. If it is below 70%, repayment is reduced one‑for‑one with the index loss, potentially to zero. All payments depend on the credit of Citigroup Global Markets Holdings Inc. and Citigroup Inc.; the estimated value on the pricing date is expected to be at least $932.50 per note, below the $1,000 issue price, and liquidity in any secondary market may be limited.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., plans to issue callable contingent coupon equity-linked securities maturing June 23, 2028, tied to the worst performer among the Dow Jones Industrial, Nasdaq-100 Index and S&P 500 Index.

Each $1,000 security may pay a quarterly contingent coupon of at least 1.00% (at least 12.00% per year) only when the worst-performing index on the valuation date is at or above 70.00% of its initial level; otherwise no coupon is paid. If not called, principal is fully repaid at maturity only if the worst index finishes at or above the 70.00% final barrier. Below that barrier, repayment is reduced one-for-one with the index loss, down to zero. The notes can be redeemed early at the issuer’s option at $1,000 plus any due coupon, are unsecured obligations subject to the credit risk of Citigroup entities, have limited expected liquidity, an estimated value on the pricing date of at least $947.50 per security, and involve complex market and tax risks including possible 30% withholding on coupons for some non-U.S. investors.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is issuing unsecured Autocallable Contingent Coupon Equity Linked Securities linked to NVIDIA Corporation, maturing on July 20, 2029 unless called earlier. Each security has a $1,000 stated principal amount and may pay contingent coupons of 2.725% per quarter (10.90% per annum) when NVIDIA’s closing value on the relevant valuation date is at or above the coupon barrier of $127.50, which is 60.00% of the $212.50 initial value.

If the notes are not automatically redeemed and the final NVIDIA value is at or above the same 60.00% final barrier, investors receive $1,000 plus the final coupon. If the final value is below the barrier, repayment equals $1,000 plus $1,000 times the underlying return, exposing investors to full downside, including total loss. Investors do not participate in any upside of NVIDIA and receive no dividends. The notes are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc., may have little or no secondary market, and price initially below issue, with an estimated value of $940 per $1,000 security due to fees, hedging costs and internal funding rates. U.S. tax treatment is uncertain, with potential 30% withholding on coupons for non‑U.S. holders.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering $1,234,000 of autocallable contingent coupon equity‑linked securities tied to the S&P 500 Futures 35% Edge Volatility 6% Decrement Index (USD) ER, maturing July 22, 2036.

The notes pay a 12.55% annualized contingent coupon (3.1375% of principal per quarter) only if the index is at or above 50% of its initial level on each valuation date; otherwise no coupon is paid. On specified autocall dates, if the index is at or above its initial level, the notes are redeemed early at $1,000 plus the coupon. If not called, principal is fully repaid at maturity only if the final index level is at or above 50% of the initial 555.3365 value; below that level, repayment falls in line with index losses and can be zero. The underlying index can use up to 500% leverage on S&P 500 futures, applies a 35% volatility target and a 6% annual decrement, and may significantly underperform the S&P 500. The estimated value is $883.40 per $1,000 note, and investors face Citigroup credit and liquidity risk.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is issuing Autocallable Contingent Coupon Equity Linked Securities linked to Advanced Micro Devices, Inc. in an aggregate principal amount of $110,000, at $1,000 per security, maturing July 20, 2029 unless called earlier.

The notes pay a 21.50% annualized contingent coupon (5.375% per period) only if AMD’s closing value on each valuation date is at or above the coupon barrier of $264.57 (50% of the $529.14 initial value. If on any potential autocall date AMD is at or above the initial value, the notes are automatically redeemed for $1,000 plus coupon, capping further income. If not called and AMD’s final value is below the final barrier of $264.57, principal is reduced one-for-one with AMD’s decline, down to zero.

Investors bear the full credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc., face potentially little or no secondary market liquidity, and the estimated value of $925.70 per security is below the $1,000 issue price due to fees, hedging costs and funding rates. U.S. tax treatment is uncertain, and non-U.S. holders may face 30% withholding on coupons.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering Trigger Autocallable Contingent Yield Notes linked to the least performing of the Nasdaq-100 Index and the S&P MidCap 400 Index. Each note has a $10.00 principal amount, a term of approximately five years and pays a quarterly contingent coupon at 10.40% per annum (or $0.26 per $10) only when the least performing index closes at or above its coupon barrier of 70% of its initial level.

Beginning with the January 19, 2027 valuation date, the notes are automatically called if the least performing index is at or above its initial level, returning principal plus the relevant coupon. If not called and, at maturity, the least performing index is at or above its downside threshold of 60% of its initial level, investors receive principal plus the final coupon; otherwise, repayment is reduced one-for-one with the index loss and may fall to zero. Payments depend on the credit of Citigroup Global Markets Holdings Inc. and Citigroup Inc., the notes are not FDIC-insured, may be illiquid, can pay no coupons, and involve complex U.S. tax treatment, including potential 30% withholding for some non-U.S. holders.