[FWP] Citigroup Inc. Free Writing Prospectus
Citigroup Global Markets Holdings is offering 1.5 Year Autocallable Contingent Coupon Securities linked to the worst performance of the Russell 2000® Index (RTY) and S&P 500® Index (SPX), guaranteed by Citigroup. Key features include:
- Contingent Coupon Rate: Minimum 8.50% per annum, paid quarterly if worst-performing index is above 75% of initial value
- Automatic Early Redemption: Quarterly after 6 months if worst performer equals/exceeds initial value
- Principal Protection: Full protection if worst performer stays above 75% of initial value at maturity
- Downside Risk: 1:1 loss exposure if worst performer falls below 75% barrier at maturity
Significant risks include potential loss of principal, no guaranteed coupons, heightened risk due to multiple underlyings, and credit risk of Citigroup. Securities price at $1,000 per unit with pricing date set for July 31, 2025, and maturity on February 4, 2027.
Citigroup Global Markets Holdings offre titoli autocallabili con cedola condizionata a 1,5 anni collegati alla performance peggiore tra l'indice Russell 2000® (RTY) e l'indice S&P 500® (SPX), garantiti da Citigroup. Le caratteristiche principali includono:
- Aliquota di Cedola Condizionata: minimo 8,50% annuo, pagata trimestralmente se l'indice con la performance peggiore è sopra il 75% del valore iniziale
- Rimborso Anticipato Automatico: trimestrale dopo 6 mesi se l'indice peggiore è pari o superiore al valore iniziale
- Protezione del Capitale: protezione totale se l'indice peggiore resta sopra il 75% del valore iniziale alla scadenza
- Rischio di Ribasso: esposizione alla perdita 1:1 se l'indice peggiore scende sotto la barriera del 75% alla scadenza
I rischi significativi comprendono la possibile perdita del capitale, l'assenza di cedole garantite, il rischio aumentato dovuto a più sottostanti e il rischio di credito di Citigroup. Il prezzo dei titoli è di 1.000 $ per unità, con data di prezzo fissata al 31 luglio 2025 e scadenza il 4 febbraio 2027.
Citigroup Global Markets Holdings ofrece Valores Autollamables con Cupón Contingente a 1,5 años vinculados al peor desempeño entre el índice Russell 2000® (RTY) y el índice S&P 500® (SPX), garantizados por Citigroup. Las características clave incluyen:
- Tasa de Cupón Contingente: mínimo 8.50% anual, pagado trimestralmente si el índice con peor desempeño está por encima del 75% del valor inicial
- Redención Anticipada Automática: trimestral después de 6 meses si el peor desempeño es igual o superior al valor inicial
- Protección del Principal: protección total si el peor desempeño se mantiene por encima del 75% del valor inicial al vencimiento
- Riesgo a la Baja: exposición a pérdida 1:1 si el peor desempeño cae por debajo de la barrera del 75% al vencimiento
Los riesgos significativos incluyen posible pérdida de capital, ausencia de cupones garantizados, mayor riesgo debido a múltiples subyacentes y riesgo crediticio de Citigroup. El precio de los valores es de $1,000 por unidad, con fecha de precio establecida para el 31 de julio de 2025 y vencimiento el 4 de febrero de 2027.
Citigroup Global Markets Holdings는 Russell 2000® 지수(RTY)와 S&P 500® 지수(SPX) 중 최저 성과에 연동된 1.5년 자동상환 조건부 쿠폰 증권을 Citigroup 보증으로 제공합니다. 주요 특징은 다음과 같습니다:
- 조건부 쿠폰율: 최저 연 8.50%, 최저 성과 지수가 초기 가치의 75% 이상일 경우 분기별 지급
- 자동 조기 상환: 6개월 후 분기별로 최저 성과 지수가 초기 가치 이상일 경우 상환
- 원금 보호: 만기 시 최저 성과 지수가 초기 가치의 75% 이상이면 원금 전액 보호
- 하락 위험: 만기 시 최저 성과 지수가 75% 장벽 아래로 떨어질 경우 1:1 손실 노출
주요 위험 요소로는 원금 손실 가능성, 쿠폰 미지급 위험, 다중 기초자산으로 인한 높은 위험, Citigroup의 신용 위험이 포함됩니다. 증권 단가는 1,000달러이며, 가격 결정일은 2025년 7월 31일, 만기는 2027년 2월 4일입니다.
Citigroup Global Markets Holdings propose des titres autocallables à coupon conditionnel sur 1,5 an liés à la pire performance entre l'indice Russell 2000® (RTY) et l'indice S&P 500® (SPX), garantis par Citigroup. Les principales caractéristiques sont :
- Taux de coupon conditionnel : minimum 8,50 % par an, versé trimestriellement si l'indice le moins performant est au-dessus de 75 % de sa valeur initiale
- Remboursement anticipé automatique : trimestriel après 6 mois si le pire performeur atteint ou dépasse la valeur initiale
- Protection du capital : protection totale si le pire performeur reste au-dessus de 75 % de la valeur initiale à l'échéance
- Risque à la baisse : exposition à une perte au prorata 1:1 si le pire performeur tombe en dessous de la barrière des 75 % à l'échéance
Les risques majeurs incluent la perte potentielle du capital, l'absence de coupons garantis, un risque accru dû à la présence de plusieurs sous-jacents, ainsi que le risque de crédit lié à Citigroup. Le prix des titres est de 1 000 $ par unité, avec une date de tarification fixée au 31 juillet 2025 et une échéance au 4 février 2027.
Citigroup Global Markets Holdings bietet 1,5-jährige Autocallable Contingent Coupon Securities an, die an die schlechteste Performance des Russell 2000® Index (RTY) und des S&P 500® Index (SPX) gekoppelt sind und von Citigroup garantiert werden. Die wichtigsten Merkmale sind:
- Bedingter Kuponzins: Mindestens 8,50 % pro Jahr, vierteljährlich zahlbar, wenn der schlechteste Index über 75 % des Anfangswerts liegt
- Automatische vorzeitige Rückzahlung: Vierteljährlich nach 6 Monaten, wenn der schlechteste Performer den Anfangswert erreicht oder übersteigt
- Kapitalschutz: Voller Schutz, wenn der schlechteste Performer zum Fälligkeitszeitpunkt über 75 % des Anfangswerts bleibt
- Abwärtsrisiko: 1:1 Verlustaussetzung, wenn der schlechteste Performer die 75 %-Barriere bei Fälligkeit unterschreitet
Wesentliche Risiken umfassen potenziellen Kapitalverlust, keine garantierten Kupons, erhöhtes Risiko durch mehrere Basiswerte und das Kreditrisiko von Citigroup. Der Preis der Wertpapiere beträgt 1.000 $ pro Einheit, mit einem Preisfeststellungstermin am 31. Juli 2025 und Fälligkeit am 4. Februar 2027.
- None.
- None.
Citigroup Global Markets Holdings offre titoli autocallabili con cedola condizionata a 1,5 anni collegati alla performance peggiore tra l'indice Russell 2000® (RTY) e l'indice S&P 500® (SPX), garantiti da Citigroup. Le caratteristiche principali includono:
- Aliquota di Cedola Condizionata: minimo 8,50% annuo, pagata trimestralmente se l'indice con la performance peggiore è sopra il 75% del valore iniziale
- Rimborso Anticipato Automatico: trimestrale dopo 6 mesi se l'indice peggiore è pari o superiore al valore iniziale
- Protezione del Capitale: protezione totale se l'indice peggiore resta sopra il 75% del valore iniziale alla scadenza
- Rischio di Ribasso: esposizione alla perdita 1:1 se l'indice peggiore scende sotto la barriera del 75% alla scadenza
I rischi significativi comprendono la possibile perdita del capitale, l'assenza di cedole garantite, il rischio aumentato dovuto a più sottostanti e il rischio di credito di Citigroup. Il prezzo dei titoli è di 1.000 $ per unità, con data di prezzo fissata al 31 luglio 2025 e scadenza il 4 febbraio 2027.
Citigroup Global Markets Holdings ofrece Valores Autollamables con Cupón Contingente a 1,5 años vinculados al peor desempeño entre el índice Russell 2000® (RTY) y el índice S&P 500® (SPX), garantizados por Citigroup. Las características clave incluyen:
- Tasa de Cupón Contingente: mínimo 8.50% anual, pagado trimestralmente si el índice con peor desempeño está por encima del 75% del valor inicial
- Redención Anticipada Automática: trimestral después de 6 meses si el peor desempeño es igual o superior al valor inicial
- Protección del Principal: protección total si el peor desempeño se mantiene por encima del 75% del valor inicial al vencimiento
- Riesgo a la Baja: exposición a pérdida 1:1 si el peor desempeño cae por debajo de la barrera del 75% al vencimiento
Los riesgos significativos incluyen posible pérdida de capital, ausencia de cupones garantizados, mayor riesgo debido a múltiples subyacentes y riesgo crediticio de Citigroup. El precio de los valores es de $1,000 por unidad, con fecha de precio establecida para el 31 de julio de 2025 y vencimiento el 4 de febrero de 2027.
Citigroup Global Markets Holdings는 Russell 2000® 지수(RTY)와 S&P 500® 지수(SPX) 중 최저 성과에 연동된 1.5년 자동상환 조건부 쿠폰 증권을 Citigroup 보증으로 제공합니다. 주요 특징은 다음과 같습니다:
- 조건부 쿠폰율: 최저 연 8.50%, 최저 성과 지수가 초기 가치의 75% 이상일 경우 분기별 지급
- 자동 조기 상환: 6개월 후 분기별로 최저 성과 지수가 초기 가치 이상일 경우 상환
- 원금 보호: 만기 시 최저 성과 지수가 초기 가치의 75% 이상이면 원금 전액 보호
- 하락 위험: 만기 시 최저 성과 지수가 75% 장벽 아래로 떨어질 경우 1:1 손실 노출
주요 위험 요소로는 원금 손실 가능성, 쿠폰 미지급 위험, 다중 기초자산으로 인한 높은 위험, Citigroup의 신용 위험이 포함됩니다. 증권 단가는 1,000달러이며, 가격 결정일은 2025년 7월 31일, 만기는 2027년 2월 4일입니다.
Citigroup Global Markets Holdings propose des titres autocallables à coupon conditionnel sur 1,5 an liés à la pire performance entre l'indice Russell 2000® (RTY) et l'indice S&P 500® (SPX), garantis par Citigroup. Les principales caractéristiques sont :
- Taux de coupon conditionnel : minimum 8,50 % par an, versé trimestriellement si l'indice le moins performant est au-dessus de 75 % de sa valeur initiale
- Remboursement anticipé automatique : trimestriel après 6 mois si le pire performeur atteint ou dépasse la valeur initiale
- Protection du capital : protection totale si le pire performeur reste au-dessus de 75 % de la valeur initiale à l'échéance
- Risque à la baisse : exposition à une perte au prorata 1:1 si le pire performeur tombe en dessous de la barrière des 75 % à l'échéance
Les risques majeurs incluent la perte potentielle du capital, l'absence de coupons garantis, un risque accru dû à la présence de plusieurs sous-jacents, ainsi que le risque de crédit lié à Citigroup. Le prix des titres est de 1 000 $ par unité, avec une date de tarification fixée au 31 juillet 2025 et une échéance au 4 février 2027.
Citigroup Global Markets Holdings bietet 1,5-jährige Autocallable Contingent Coupon Securities an, die an die schlechteste Performance des Russell 2000® Index (RTY) und des S&P 500® Index (SPX) gekoppelt sind und von Citigroup garantiert werden. Die wichtigsten Merkmale sind:
- Bedingter Kuponzins: Mindestens 8,50 % pro Jahr, vierteljährlich zahlbar, wenn der schlechteste Index über 75 % des Anfangswerts liegt
- Automatische vorzeitige Rückzahlung: Vierteljährlich nach 6 Monaten, wenn der schlechteste Performer den Anfangswert erreicht oder übersteigt
- Kapitalschutz: Voller Schutz, wenn der schlechteste Performer zum Fälligkeitszeitpunkt über 75 % des Anfangswerts bleibt
- Abwärtsrisiko: 1:1 Verlustaussetzung, wenn der schlechteste Performer die 75 %-Barriere bei Fälligkeit unterschreitet
Wesentliche Risiken umfassen potenziellen Kapitalverlust, keine garantierten Kupons, erhöhtes Risiko durch mehrere Basiswerte und das Kreditrisiko von Citigroup. Der Preis der Wertpapiere beträgt 1.000 $ pro Einheit, mit einem Preisfeststellungstermin am 31. Juli 2025 und Fälligkeit am 4. Februar 2027.
Citigroup Global Markets Holdings Inc.
Guaranteed by Citigroup Inc.
Hypothetical Interim Payment per Security**
|
Hypothetical Worst Underlying Return on Interim Valuation Date |
Hypothetical Payment for Interim Valuation Date |
Hypothetical Redemption*** |
|
100.00% |
$1,021.25 |
Redeemed |
|
50.00% |
$1,021.25 |
Redeemed |
|
25.00% |
$1,021.25 |
Redeemed |
|
0.00% |
$1,021.25 |
Redeemed |
|
-0.01% |
$21.25 |
Securities not redeemed |
|
-25.00% |
$21.25 |
Securities not redeemed |
|
-25.01% |
$0.00 |
Securities not redeemed |
|
-50.00% |
$0.00 |
Securities not redeemed |
|
-75.00% |
$0.00 |
Securities not redeemed |
|
-100.00% |
$0.00 |
Securities not redeemed |
Hypothetical Payment at Maturity per Security
Assumes the securities have not been automatically redeemed prior to maturity and does not include the final contingent coupon payment, if any.
|
Hypothetical Worst Underlying Return on Final Valuation Date |
Hypothetical Payment at Maturity |
|
100.00% |
$1,000.00 |
|
50.00% |
$1,000.00 |
|
25.00% |
$1,000.00 |
|
0.00% |
$1,000.00 |
|
-25.00% |
$1,000.00 |
|
-25.01% |
$749.90 |
|
-50.00% |
$500.00 |
|
-75.00% |
$250.00 |
|
-100.00% |
$0.00 |
1.5 Year Autocallable Contingent Coupon Securities Linked to the Worst of RTY and SPX
Preliminary Terms
This summary of terms is not complete and should be read with the preliminary pricing supplement below
|
Issuer: |
Citigroup Global Markets Holdings Inc. |
|
Guarantor: |
Citigroup Inc. |
|
Underlyings: |
The Russell 2000® Index (ticker: “RTY”) and the S&P 500® Index (ticker: “SPX”) |
|
Pricing date: |
July 31, 2025 |
|
Valuation dates: |
Quarterly |
|
Maturity date: |
February 4, 2027 |
|
Contingent coupon: |
At least 8.50% per annum*, paid quarterly only if the closing value of the worst performer is greater than or equal to its coupon barrier value on the related valuation date. You are not assured of receiving any contingent coupon. |
|
Coupon barrier value: |
For each underlying, 75.00% of its initial underlying value |
|
Final barrier value: |
For each underlying, 75.00% of its initial underlying value |
|
Automatic early redemption: |
If on any autocall date the closing value of the worst performer is greater than or equal to its initial underlying value, the securities will be automatically called for an amount equal to the principal plus the related contingent coupon |
|
Autocall dates: |
Quarterly on valuation dates beginning after six months |
|
CUSIP / ISIN: |
17333LDV4 / US17333LDV45 |
|
Initial underlying value: |
For each underlying, its closing value on the pricing date |
|
Final underlying value: |
For each underlying, its closing value on the final valuation date |
|
Underlying return: |
For each underlying on any valuation date, (i) its current closing value minus initial underlying value, divided by (ii) its initial underlying value |
|
Worst performer: |
On any valuation date, the underlying with the lowest underlying return |
|
Payment at maturity (if not autocalled): |
•If the final underlying value of the worst performer is greater than or equal to its final barrier value: $1,000 •If the final underlying value of the worst performer is less than its final barrier value: $1,000 + ($1,000 × the underlying return of the worst performer on the final valuation date) If the securities are not automatically redeemed prior to maturity and the final underlying value of the worst performer on the final valuation date is less than its final barrier value, you will receive significantly less than the stated principal amount of your securities, and possibly nothing, at maturity, and you will not receive any contingent coupon payment at maturity. All payments on the securities are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc. |
|
Stated principal amount: |
$1,000 per security |
|
Preliminary pricing supplement: |
Preliminary Pricing Supplement dated June 27, 2025 |
* The actual contingent coupon rate will be determined on the pricing date.
** The hypotheticals assume that the contingent coupon will be set at the lowest value indicated in this offering summary.
*** Assumes the interim valuation date is also an autocall date.
Citigroup Global Markets Holdings Inc.
Guaranteed by Citigroup Inc.
|
Additional Information |
|
Citigroup Global Markets Holdings Inc. and Citigroup Inc. have filed registration statements (including the accompanying preliminary pricing supplement, product supplement, underlying supplement, prospectus supplement and prospectus) with the Securities and Exchange Commission (“SEC”) for the offering to which this communication relates. Before you invest, you should read the accompanying preliminary pricing supplement, product supplement, underlying supplement, prospectus supplement and prospectus in those registration statements (File Nos. 333-270327 and 333-270327-01) and the other documents Citigroup Global Markets Holdings Inc. and Citigroup Inc. have filed with the SEC for more complete information about Citigroup Global Markets Holdings Inc., Citigroup Inc. and this offering. You may obtain these documents without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, you can request these documents by calling toll-free 1-800-831-9146.
Filed pursuant to Rule 433 |
|
This offering summary does not contain all of the material information an investor should consider before investing in the securities. This offering summary is not for distribution in isolation and must be read together with the accompanying preliminary pricing supplement and the other documents referred to therein, which can be accessed via the link on the first page. |
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Selected Risk Considerations |
|
•You may lose a significant portion or all of your investment. Unlike conventional debt securities, the securities do not provide for the repayment of the stated principal amount at maturity in all circumstances. If the securities are not automatically redeemed prior to maturity, your payment at maturity will depend on the final underlying value of the worst performer on the final valuation date. If the final underlying value of the worst performer on the final valuation date is less than its final barrier value, you will lose 1% of the stated principal amount of your securities for every 1% by which the worst performer on the final valuation date has declined from its initial underlying value. There is no minimum payment at maturity on the securities, and you may lose up to all of your investment. •You will not receive any contingent coupon following any valuation date on which the closing value of the worst performer on that valuation date is less than its coupon barrier value. •The securities are subject to heightened risk because they have multiple underlyings. •The return on the securities depends solely on the performance of the worst performer. As a result, the securities are subject to the risks of each of the underlyings and will be negatively affected if any one underlying performs poorly. •You will be subject to risks relating to the relationship between the underlyings. The less correlated the underlyings, the more likely it is that any one of the underlyings will perform poorly over the term of the securities. All that is necessary for the securities to perform poorly is for one of the underlyings to perform poorly. •The securities may be automatically redeemed prior to maturity, limiting your opportunity to receive contingent coupons if the worst performer performs in a way that would otherwise be favorable. •The securities offer downside exposure, but no upside exposure, to the underlyings. •The securities are particularly sensitive to the volatility of the closing values of the underlyings on or near the valuation dates. •The securities are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc. If Citigroup Global Markets Holdings Inc. defaults on its obligations under the securities and Citigroup Inc. defaults on its guarantee obligations, you may not receive anything owed to you under the securities. •The securities will not be listed on any securities exchange and you may not be able to sell them prior to maturity. •The estimated value of the securities on the pricing date will be less than the issue price. For more information about the estimated value of the securities, see the accompanying preliminary pricing supplement. •The value of the securities prior to maturity will fluctuate based on many unpredictable factors. •The Russell 2000® Index is subject to risks associated with small capitalization stocks. •The issuer and its affiliates may have conflicts of interest with you. •The U.S. federal tax consequences of an investment in the securities are unclear. |
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The above summary of selected risks does not describe all of the risks associated with an investment in the securities. You should read the accompanying preliminary pricing supplement and product supplement for a more complete description of risks relating to the securities. |
FAQ
What are the key features of Citigroup's (C) new Autocallable Contingent Coupon Securities linked to RTY and SPX?
When will Citigroup's (C) new structured notes mature and what is the CUSIP?
What are the principal loss risks for Citigroup's (C) new Autocallable Securities?
How does the automatic redemption feature work for Citigroup's (C) new structured notes?
What is the maximum potential payment at maturity for Citigroup's (C) new securities?
