[FWP] Citigroup Inc. Free Writing Prospectus
Citigroup Global Markets Holdings has announced a 13-month Autocallable Contingent Coupon Securities offering linked to Micron Technology (MU) stock, with Citigroup as guarantor. Key features include:
- Principal amount of $1,000 per security with pricing date July 2, 2025
- Monthly contingent coupon of at least 13.40% per annum, paid only if MU closes above 56% of initial value
- Automatic early redemption if MU closes at or above initial value on monthly valuation dates after 6 months
- At maturity (August 6, 2026), full principal returned if MU is above 56% barrier; below barrier, investors receive MU shares or cash equivalent
Risk Considerations: Investors may lose significant portion or all investment, no minimum payment guaranteed, subject to Citigroup's credit risk, limited liquidity as securities won't be exchange-listed, and potential early redemption limiting upside potential. Securities offer downside exposure but no upside participation in MU's performance.
Citigroup Global Markets Holdings ha annunciato un'offerta di titoli Autocallable Contingent Coupon della durata di 13 mesi, collegati alle azioni di Micron Technology (MU), con Citigroup come garante. Le caratteristiche principali includono:
- Importo nominale di 1.000$ per titolo con data di prezzo al 2 luglio 2025
- Coupon contingente mensile di almeno 13,40% annuo, pagato solo se MU chiude sopra il 56% del valore iniziale
- Rimborso automatico anticipato se MU chiude pari o superiore al valore iniziale nelle date di valutazione mensili dopo 6 mesi
- Alla scadenza (6 agosto 2026), restituzione completa del capitale se MU è sopra la barriera del 56%; sotto la barriera, gli investitori ricevono azioni MU o equivalente in contanti
Considerazioni sul rischio: Gli investitori potrebbero perdere una parte significativa o l'intero investimento, non è garantito alcun pagamento minimo, soggetto al rischio di credito di Citigroup, liquidità limitata poiché i titoli non saranno quotati in borsa, e il rimborso anticipato può limitare il potenziale di rendimento. I titoli offrono esposizione al ribasso ma nessuna partecipazione al rialzo nella performance di MU.
Citigroup Global Markets Holdings ha anunciado una oferta de valores Autocallable Contingent Coupon de 13 meses vinculados a las acciones de Micron Technology (MU), con Citigroup como garante. Las características clave incluyen:
- Monto principal de
- Cupón contingente mensual de al menos 13.40% anual, pagado solo si MU cierra por encima del 56% del valor inicial
- Redención anticipada automática si MU cierra en o por encima del valor inicial en las fechas de valoración mensuales después de 6 meses
- Al vencimiento (6 de agosto de 2026), se devuelve el principal completo si MU está por encima de la barrera del 56%; por debajo de la barrera, los inversores reciben acciones de MU o su equivalente en efectivo
Consideraciones de riesgo: Los inversores pueden perder una parte significativa o la totalidad de la inversión, no hay pago mínimo garantizado, está sujeto al riesgo crediticio de Citigroup, liquidez limitada ya que los valores no estarán listados en bolsa, y la posible redención anticipada limita el potencial alcista. Los valores ofrecen exposición a la baja pero sin participación en la subida del rendimiento de MU.
Citigroup Global Markets Holdings는 Micron Technology(MU) 주식에 연계된 13개월 만기 자동상환형 조건부 쿠폰 증권을 Citigroup이 보증인으로서 발표했습니다. 주요 특징은 다음과 같습니다:
- 증권당 1,000달러의 원금, 가격 결정일은 2025년 7월 2일
- MU가 초기 가치의 56% 이상으로 마감할 경우에만 지급되는 연간 최소 13.40%의 월별 조건부 쿠폰
- 6개월 이후 매월 평가일에 MU가 초기 가치 이상으로 마감하면 자동 조기 상환
- 만기일(2026년 8월 6일)에는 MU가 56% 장벽 이상일 경우 원금 전액 반환; 장벽 이하일 경우 투자자는 MU 주식 또는 현금 상당액을 수령
위험 고려사항: 투자자는 투자금의 상당 부분 또는 전부를 손실할 수 있으며, 최소 지급이 보장되지 않고, Citigroup의 신용 위험에 노출되며, 증권이 거래소에 상장되지 않아 유동성이 제한되고, 조기 상환으로 인해 상승 잠재력이 제한될 수 있습니다. 증권은 MU의 성과에 대한 상승 참여 없이 하락 위험에 노출됩니다.
Citigroup Global Markets Holdings a annoncé une émission de titres Autocallable Contingent Coupon d'une durée de 13 mois liée à l'action Micron Technology (MU), avec Citigroup en tant que garant. Les caractéristiques principales sont :
- Montant principal de 1 000 $ par titre avec une date de tarification au 2 juillet 2025
- Coupon conditionnel mensuel d'au moins 13,40 % par an, versé uniquement si MU clôture au-dessus de 56 % de sa valeur initiale
- Remboursement anticipé automatique si MU clôture à ou au-dessus de la valeur initiale lors des dates d'évaluation mensuelles après 6 mois
- À l'échéance (6 août 2026), remboursement intégral du principal si MU est au-dessus de la barrière de 56 % ; en dessous, les investisseurs reçoivent des actions MU ou leur équivalent en espèces
Considérations sur les risques : Les investisseurs peuvent perdre une partie importante ou la totalité de leur investissement, aucun paiement minimum garanti, soumis au risque de crédit de Citigroup, liquidité limitée car les titres ne seront pas cotés en bourse, et un remboursement anticipé potentiel limitant le potentiel de gain. Ces titres exposent à un risque à la baisse sans participation à la hausse de la performance de MU.
Citigroup Global Markets Holdings hat ein 13-monatiges Autocallable Contingent Coupon Securities-Angebot angekündigt, das an die Aktie von Micron Technology (MU) gekoppelt ist, mit Citigroup als Garantiegeber. Die Hauptmerkmale sind:
- Nennbetrag von 1.000 USD pro Wertpapier mit Preisfeststellung am 2. Juli 2025
- Monatlicher bedingter Kupon von mindestens 13,40% p.a., zahlbar nur, wenn MU über 56% des Anfangswerts schließt
- Automatische vorzeitige Rückzahlung, wenn MU an monatlichen Bewertungstagen nach 6 Monaten auf oder über dem Anfangswert schließt
- Bei Fälligkeit (6. August 2026) wird der volle Nennwert zurückgezahlt, wenn MU über der 56%-Schwelle liegt; liegt MU darunter, erhalten Anleger MU-Aktien oder den entsprechenden Barwert
Risikohinweise: Anleger können einen erheblichen Teil oder die gesamte Investition verlieren, es gibt keine Mindestzahlungsgarantie, das Investment unterliegt dem Kreditrisiko von Citigroup, die Liquidität ist begrenzt, da die Wertpapiere nicht börsennotiert sind, und eine mögliche vorzeitige Rückzahlung kann das Aufwärtspotenzial einschränken. Die Wertpapiere bieten Abwärtsrisiko, aber keine Aufwärtsbeteiligung an der Entwicklung von MU.
- Attractive contingent coupon rate of at least 13.40% per annum if underlying stays above barrier
- Monthly autocall opportunity after 6 months if Micron stock trades at or above initial value
- Downside protection with 44% buffer before principal loss occurs (barrier at 56% of initial value)
- Complete loss of principal possible if Micron stock declines more than 56%
- No participation in upside potential of Micron stock beyond fixed coupon payments
- Contingent coupons only paid if Micron stays above 56% barrier - no guaranteed income
- Credit risk exposure to Citigroup could result in total loss if issuer defaults
- Limited secondary market liquidity as securities won't be exchange-listed
Citigroup Global Markets Holdings ha annunciato un'offerta di titoli Autocallable Contingent Coupon della durata di 13 mesi, collegati alle azioni di Micron Technology (MU), con Citigroup come garante. Le caratteristiche principali includono:
- Importo nominale di 1.000$ per titolo con data di prezzo al 2 luglio 2025
- Coupon contingente mensile di almeno 13,40% annuo, pagato solo se MU chiude sopra il 56% del valore iniziale
- Rimborso automatico anticipato se MU chiude pari o superiore al valore iniziale nelle date di valutazione mensili dopo 6 mesi
- Alla scadenza (6 agosto 2026), restituzione completa del capitale se MU è sopra la barriera del 56%; sotto la barriera, gli investitori ricevono azioni MU o equivalente in contanti
Considerazioni sul rischio: Gli investitori potrebbero perdere una parte significativa o l'intero investimento, non è garantito alcun pagamento minimo, soggetto al rischio di credito di Citigroup, liquidità limitata poiché i titoli non saranno quotati in borsa, e il rimborso anticipato può limitare il potenziale di rendimento. I titoli offrono esposizione al ribasso ma nessuna partecipazione al rialzo nella performance di MU.
Citigroup Global Markets Holdings ha anunciado una oferta de valores Autocallable Contingent Coupon de 13 meses vinculados a las acciones de Micron Technology (MU), con Citigroup como garante. Las características clave incluyen:
- Monto principal de
- Cupón contingente mensual de al menos 13.40% anual, pagado solo si MU cierra por encima del 56% del valor inicial
- Redención anticipada automática si MU cierra en o por encima del valor inicial en las fechas de valoración mensuales después de 6 meses
- Al vencimiento (6 de agosto de 2026), se devuelve el principal completo si MU está por encima de la barrera del 56%; por debajo de la barrera, los inversores reciben acciones de MU o su equivalente en efectivo
Consideraciones de riesgo: Los inversores pueden perder una parte significativa o la totalidad de la inversión, no hay pago mínimo garantizado, está sujeto al riesgo crediticio de Citigroup, liquidez limitada ya que los valores no estarán listados en bolsa, y la posible redención anticipada limita el potencial alcista. Los valores ofrecen exposición a la baja pero sin participación en la subida del rendimiento de MU.
Citigroup Global Markets Holdings는 Micron Technology(MU) 주식에 연계된 13개월 만기 자동상환형 조건부 쿠폰 증권을 Citigroup이 보증인으로서 발표했습니다. 주요 특징은 다음과 같습니다:
- 증권당 1,000달러의 원금, 가격 결정일은 2025년 7월 2일
- MU가 초기 가치의 56% 이상으로 마감할 경우에만 지급되는 연간 최소 13.40%의 월별 조건부 쿠폰
- 6개월 이후 매월 평가일에 MU가 초기 가치 이상으로 마감하면 자동 조기 상환
- 만기일(2026년 8월 6일)에는 MU가 56% 장벽 이상일 경우 원금 전액 반환; 장벽 이하일 경우 투자자는 MU 주식 또는 현금 상당액을 수령
위험 고려사항: 투자자는 투자금의 상당 부분 또는 전부를 손실할 수 있으며, 최소 지급이 보장되지 않고, Citigroup의 신용 위험에 노출되며, 증권이 거래소에 상장되지 않아 유동성이 제한되고, 조기 상환으로 인해 상승 잠재력이 제한될 수 있습니다. 증권은 MU의 성과에 대한 상승 참여 없이 하락 위험에 노출됩니다.
Citigroup Global Markets Holdings a annoncé une émission de titres Autocallable Contingent Coupon d'une durée de 13 mois liée à l'action Micron Technology (MU), avec Citigroup en tant que garant. Les caractéristiques principales sont :
- Montant principal de 1 000 $ par titre avec une date de tarification au 2 juillet 2025
- Coupon conditionnel mensuel d'au moins 13,40 % par an, versé uniquement si MU clôture au-dessus de 56 % de sa valeur initiale
- Remboursement anticipé automatique si MU clôture à ou au-dessus de la valeur initiale lors des dates d'évaluation mensuelles après 6 mois
- À l'échéance (6 août 2026), remboursement intégral du principal si MU est au-dessus de la barrière de 56 % ; en dessous, les investisseurs reçoivent des actions MU ou leur équivalent en espèces
Considérations sur les risques : Les investisseurs peuvent perdre une partie importante ou la totalité de leur investissement, aucun paiement minimum garanti, soumis au risque de crédit de Citigroup, liquidité limitée car les titres ne seront pas cotés en bourse, et un remboursement anticipé potentiel limitant le potentiel de gain. Ces titres exposent à un risque à la baisse sans participation à la hausse de la performance de MU.
Citigroup Global Markets Holdings hat ein 13-monatiges Autocallable Contingent Coupon Securities-Angebot angekündigt, das an die Aktie von Micron Technology (MU) gekoppelt ist, mit Citigroup als Garantiegeber. Die Hauptmerkmale sind:
- Nennbetrag von 1.000 USD pro Wertpapier mit Preisfeststellung am 2. Juli 2025
- Monatlicher bedingter Kupon von mindestens 13,40% p.a., zahlbar nur, wenn MU über 56% des Anfangswerts schließt
- Automatische vorzeitige Rückzahlung, wenn MU an monatlichen Bewertungstagen nach 6 Monaten auf oder über dem Anfangswert schließt
- Bei Fälligkeit (6. August 2026) wird der volle Nennwert zurückgezahlt, wenn MU über der 56%-Schwelle liegt; liegt MU darunter, erhalten Anleger MU-Aktien oder den entsprechenden Barwert
Risikohinweise: Anleger können einen erheblichen Teil oder die gesamte Investition verlieren, es gibt keine Mindestzahlungsgarantie, das Investment unterliegt dem Kreditrisiko von Citigroup, die Liquidität ist begrenzt, da die Wertpapiere nicht börsennotiert sind, und eine mögliche vorzeitige Rückzahlung kann das Aufwärtspotenzial einschränken. Die Wertpapiere bieten Abwärtsrisiko, aber keine Aufwärtsbeteiligung an der Entwicklung von MU.
Citigroup Global Markets Holdings Inc.
Guaranteed by Citigroup Inc.
Hypothetical Interim Payment per Security**
|
Hypothetical Underlying Return on Interim Valuation Date |
Hypothetical Payment for Interim Valuation Date |
Hypothetical Redemption*** |
|
100.00% |
$1,011.167 |
Redeemed |
|
50.00% |
$1,011.167 |
Redeemed |
|
25.00% |
$1,011.167 |
Redeemed |
|
0.00% |
$1,011.167 |
Redeemed |
|
-0.01% |
$11.167 |
Securities not redeemed |
|
-25.00% |
$11.167 |
Securities not redeemed |
|
-44.00% |
$11.167 |
Securities not redeemed |
|
-44.01% |
$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 Underlying Return on Final Valuation Date |
Hypothetical Payment at Maturity or Cash Value of Underlying Shares Received 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 |
|
-44.00% |
$1,000.00 |
|
-44.01% |
$559.90 |
|
-50.00% |
$500.00 |
|
-75.00% |
$250.00 |
|
-100.00% |
$0.00 |
13 Month Autocallable Contingent Coupon Securities Linked to MU
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. |
|
Underlying: |
Micron Technology, Inc. (ticker: “MU”) |
|
Pricing date: |
July 2, 2025 |
|
Valuation dates: |
Monthly |
|
Maturity date: |
August 6, 2026 |
|
Contingent coupon: |
At least 13.40% per annum*, paid monthly only if the closing value of the underlying is greater than or equal to the coupon barrier value on the related valuation date. You are not assured of receiving any contingent coupon. |
|
Coupon barrier value: |
56.00% of the initial underlying value |
|
Final barrier value: |
56.00% of the initial underlying value |
|
Automatic early redemption: |
If on any autocall date the closing value of the underlying is greater than or equal to the initial underlying value, the securities will be automatically called for an amount equal to the principal plus the related contingent coupon |
|
Autocall dates: |
Monthly on valuation dates beginning after six months |
|
Equity ratio: |
The stated principal amount divided by the initial underlying value |
|
CUSIP / ISIN: |
17333H5G5 / US17333H5G58 |
|
Initial underlying value: |
The closing value on the pricing date |
|
Final underlying value: |
The closing value on the final valuation date |
|
Underlying return: |
(Current closing value - initial underlying value) / initial underlying value |
|
Payment at maturity (if not autocalled): |
•If the final underlying value is greater than or equal to the final barrier value: $1,000 •If the final underlying value is less than the final barrier value: a fixed number of underlying shares of the underlying equal to the equity ratio (or, if we elect, the cash value of those shares based on the final underlying value) If the securities are not automatically redeemed prior to maturity and the final underlying value is less than the final barrier value, you will receive underlying shares (or, in our sole discretion, cash) that will be worth 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 23, 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.
**** Assumes that the closing value of the underlying on the final valuation date is the same as the closing value of the underlying on the maturity 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, 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, 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. |
|
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 and the final underlying value is less than the final barrier value, you will not receive the stated principal amount of your securities at maturity and, instead, will receive underlying shares of the underlying (or, in our sole discretion, cash based on the value thereof) that will be worth significantly less than the stated principal amount and possibly nothing. 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 underlying on that valuation date is less than the coupon barrier value. •The securities may be automatically redeemed prior to maturity, limiting your opportunity to receive contingent coupons if the underlying performs in a way that would otherwise be favorable. •The securities offer downside exposure, but no upside exposure, to the underlying. •The securities are particularly sensitive to the volatility of the closing value of the underlying 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 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. |
|
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 terms of Citigroup's (C) 13-month Autocallable Contingent Coupon Securities linked to MU?
What is the maximum potential loss on Citigroup's (C) Autocallable Securities linked to Micron (MU)?
How does the contingent coupon payment work for Citigroup's (C) MU-linked securities?
What happens at maturity for Citigroup's (C) Autocallable Securities if not called early?
What are the main risk factors of Citigroup's (C) Autocallable Securities linked to MU?
