STOCK TITAN

[FWP] Inverse VIX Short-Term Futures ETNs due March 22, 2045 Free Writing Prospectus

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Rhea-AI Filing Summary

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is marketing 3-Year Autocallable Contingent Coupon Securities linked to Tesla, Inc. (TSLA). The notes pay a quarterly contingent coupon of at least 15.00% per annum (rate set on the pricing date) only when TSLA’s closing price on a valuation date is at or above the 60% coupon-barrier. Beginning after six months, the securities are subject to quarterly automatic redemption if TSLA closes at or above its initial value; investors then receive the $1,000 principal plus the coupon.

If not autocalled, the notes mature on 2-Aug-2028. At maturity holders receive $1,000 provided TSLA is at or above 60% of its initial level; otherwise payment is reduced one-for-one with TSLA’s decline, potentially to $0. Investors receive no upside participation beyond coupons. Key risks include full downside to TSLA below the 60% final barrier, loss of coupons when TSLA is below the hurdle, structural leverage to volatility, credit exposure to Citi, lack of listing, an issue-price premium over estimated value, and uncertain U.S. tax treatment.

Citigroup Global Markets Holdings Inc., garantita da Citigroup Inc., sta offrendo titoli autocallabili a cedola condizionata di durata triennale collegati a Tesla, Inc. (TSLA). Le obbligazioni pagano una cedola condizionata trimestrale di almeno il 15,00% annuo (tasso fissato alla data di pricing) solo se il prezzo di chiusura di TSLA alla data di valutazione è pari o superiore alla barriera cedolare del 60%. A partire da sei mesi, i titoli sono soggetti a rimborso automatico trimestrale se TSLA chiude pari o superiore al valore iniziale; in tal caso gli investitori ricevono il capitale di 1.000$ più la cedola.

Se non viene effettuato l'autocall, i titoli scadono il 2 agosto 2028. Alla scadenza i detentori ricevono 1.000$ a condizione che TSLA sia pari o superiore al 60% del livello iniziale; in caso contrario il pagamento viene ridotto in modo proporzionale al calo di TSLA, potenzialmente fino a 0$. Gli investitori non partecipano all'eventuale rialzo oltre le cedole. I rischi principali includono la perdita totale in caso di TSLA sotto la barriera finale del 60%, la perdita delle cedole se TSLA è sotto la soglia, la leva strutturale sulla volatilità, l'esposizione creditizia verso Citi, la mancanza di quotazione, un premio sul prezzo di emissione rispetto al valore stimato e un trattamento fiscale statunitense incerto.

Citigroup Global Markets Holdings Inc., garantizado por Citigroup Inc., está comercializando valores autocancelables con cupón contingente a 3 años vinculados a Tesla, Inc. (TSLA). Los bonos pagan un cupón contingente trimestral de al menos 15,00% anual (tasa establecida en la fecha de fijación de precio) solo cuando el precio de cierre de TSLA en la fecha de valoración está en o por encima de la barrera del cupón del 60%. A partir de los seis meses, los valores están sujetos a redención automática trimestral si TSLA cierra en o por encima de su valor inicial; en ese caso, los inversores reciben el principal de $1,000 más el cupón.

Si no se activa el autocall, los valores vencen el 2 de agosto de 2028. En el vencimiento, los tenedores reciben $1,000 siempre que TSLA esté en o por encima del 60% de su nivel inicial; de lo contrario, el pago se reduce de manera proporcional a la caída de TSLA, potencialmente hasta $0. Los inversores no participan en las ganancias más allá de los cupones. Los riesgos clave incluyen la pérdida total si TSLA cae por debajo de la barrera final del 60%, la pérdida de cupones si TSLA está por debajo del umbral, apalancamiento estructural a la volatilidad, la exposición crediticia a Citi, falta de cotización, una prima en el precio de emisión sobre el valor estimado y un tratamiento fiscal estadounidense incierto.

Citigroup Global Markets Holdings Inc.는 Citigroup Inc.가 보증하며, Tesla, Inc. (TSLA)에 연계된 3년 만기 자동상환 조건부 쿠폰 증권을 마케팅하고 있습니다. 이 노트는 TSLA의 평가일 종가가 60% 쿠폰 장벽 이상일 때에만 분기별 최소 연 15.00% (가격 결정일에 확정된 금리)의 조건부 쿠폰을 지급합니다. 6개월 이후부터는 TSLA가 최초 가치 이상으로 마감하면 분기별 자동상환이 이루어지며, 투자자는 원금 $1,000과 쿠폰을 받게 됩니다.

자동상환되지 않을 경우, 노트는 2028년 8월 2일에 만기됩니다. 만기 시 TSLA가 최초 수준의 60% 이상일 경우 $1,000를 지급하지만, 그렇지 않으면 TSLA 하락분에 따라 1대1로 지급액이 줄어들어 $0까지 감소할 수 있습니다. 투자자는 쿠폰 외의 추가 상승 참여는 없습니다. 주요 위험요소로는 TSLA가 60% 최종 장벽 아래로 떨어질 경우 전액 손실, TSLA가 허들 이하일 때 쿠폰 손실, 변동성에 대한 구조적 레버리지, Citi에 대한 신용 노출, 상장 부재, 발행가가 추정 가치 대비 프리미엄, 그리고 불확실한 미국 세금 처리 등이 있습니다.

Citigroup Global Markets Holdings Inc., garanti par Citigroup Inc., commercialise des titres autocallables à coupon conditionnel sur 3 ans liés à Tesla, Inc. (TSLA). Les notes versent un coupon conditionnel trimestriel d'au moins 15,00% par an (taux fixé à la date de tarification) uniquement lorsque le cours de clôture de TSLA à la date d'évaluation est égal ou supérieur à la barrière de coupon à 60%. À partir de six mois, les titres sont soumis à un rachat automatique trimestriel si TSLA clôture à son niveau initial ou au-dessus ; les investisseurs reçoivent alors le principal de 1 000 $ plus le coupon.

En l'absence d'autocall, les notes arrivent à échéance le 2 août 2028. À l'échéance, les détenteurs reçoivent 1 000 $ à condition que TSLA soit au moins à 60 % de son niveau initial ; sinon, le paiement est réduit au prorata de la baisse de TSLA, pouvant aller jusqu'à 0 $. Les investisseurs ne bénéficient pas d'une participation à la hausse au-delà des coupons. Les risques clés incluent une perte totale si TSLA descend sous la barrière finale de 60 %, la perte des coupons lorsque TSLA est sous le seuil, un effet de levier structurel sur la volatilité, une exposition au crédit de Citi, l'absence de cotation, une prime sur le prix d'émission par rapport à la valeur estimée, ainsi qu'un traitement fiscal américain incertain.

Citigroup Global Markets Holdings Inc., garantiert von Citigroup Inc., bietet 3-jährige autocallable contingent coupon Wertpapiere, die an Tesla, Inc. (TSLA) gebunden sind, zum Verkauf an. Die Notes zahlen nur dann einen vierteljährlichen bedingten Kupon von mindestens 15,00% p.a. (am Pricing-Tag festgelegter Satz), wenn der Schlusskurs von TSLA an einem Bewertungstag auf oder über der 60%-Kupon-Barriere liegt. Ab sechs Monaten sind die Wertpapiere einer vierteljährlichen automatischen Rückzahlung unterworfen, wenn TSLA auf oder über dem Anfangswert schließt; Anleger erhalten dann den Nennwert von 1.000 $ plus Kupon.

Wird kein Autocall ausgelöst, laufen die Notes am 2. August 2028 aus. Zum Laufzeitende erhalten Inhaber 1.000 $, sofern TSLA mindestens 60 % des Anfangsniveaus erreicht; andernfalls wird die Zahlung eins zu eins mit dem Rückgang von TSLA reduziert und kann bis auf 0 $ fallen. Anleger partizipieren nicht an Kurssteigerungen über die Kupons hinaus. Wesentliche Risiken umfassen den vollständigen Verlust bei TSLA unter der 60%-Endbarriere, den Verlust der Kupons bei TSLA unter der Hürde, strukturelle Hebelwirkung auf die Volatilität, Kreditrisiko gegenüber Citi, fehlende Börsennotierung, einen Emissionspreisaufschlag gegenüber dem geschätzten Wert sowie eine unklare US-Steuerbehandlung.

Positive
  • High contingent coupon of at least 15% per annum provides above-market income when barrier conditions are met.
  • 40% downside buffer (barrier at 60% of initial price) offers partial protection against moderate declines in TSLA.
  • Automatic redemption feature can shorten duration and lock in gains if TSLA is flat or up on a quarterly observation date.
Negative
  • Principal at risk; investors lose 1% of principal for each 1% TSLA falls below the 60% barrier, potentially to zero.
  • No upside participation; returns are capped at coupons, forfeiting gains if TSLA rallies.
  • Credit exposure to Citigroup; payment depends on Citi’s ability to meet obligations.
  • Unlisted security with limited secondary market liquidity.
  • Estimated value below issue price implies an initial mark-to-market loss to investors.
  • Unclear U.S. tax treatment introduces additional uncertainty.

Insights

TL;DR High coupon but full downside exposure; routine Citi issuance, neutral for issuer, product suits yield-seeking risk-tolerant investors.

The note offers an attractive headline yield (≥15% p.a.) and a 40% downside buffer. However, investors sacrifice any upside in TSLA and face the possibility of losing their entire principal if TSLA falls more than 40% by maturity. Automatic call reduces duration if TSLA stays flat/up, limiting income potential. Credit risk is standard for Citi notes, and secondary liquidity is likely thin. Overall this is a typical yield-enhancement structure with asymmetric risk—appealing only to those comfortable with equity downside and issuer credit exposure.

TL;DR Product adds contingent income but limited diversification; risk-adjusted return hinges on Tesla volatility and barrier distance.

Given TSLA’s historical volatility, the 60% barrier provides modest protection; probability analyses suggest material knock-in risk over three years. Coupons are attractive versus investment-grade debt but not compelling when adjusted for the equity-like tail risk, illiquidity and estimated value discount. For diversified portfolios, allocation should be small and funded from high-yield or structured-credit sleeves rather than core fixed income.

Citigroup Global Markets Holdings Inc., garantita da Citigroup Inc., sta offrendo titoli autocallabili a cedola condizionata di durata triennale collegati a Tesla, Inc. (TSLA). Le obbligazioni pagano una cedola condizionata trimestrale di almeno il 15,00% annuo (tasso fissato alla data di pricing) solo se il prezzo di chiusura di TSLA alla data di valutazione è pari o superiore alla barriera cedolare del 60%. A partire da sei mesi, i titoli sono soggetti a rimborso automatico trimestrale se TSLA chiude pari o superiore al valore iniziale; in tal caso gli investitori ricevono il capitale di 1.000$ più la cedola.

Se non viene effettuato l'autocall, i titoli scadono il 2 agosto 2028. Alla scadenza i detentori ricevono 1.000$ a condizione che TSLA sia pari o superiore al 60% del livello iniziale; in caso contrario il pagamento viene ridotto in modo proporzionale al calo di TSLA, potenzialmente fino a 0$. Gli investitori non partecipano all'eventuale rialzo oltre le cedole. I rischi principali includono la perdita totale in caso di TSLA sotto la barriera finale del 60%, la perdita delle cedole se TSLA è sotto la soglia, la leva strutturale sulla volatilità, l'esposizione creditizia verso Citi, la mancanza di quotazione, un premio sul prezzo di emissione rispetto al valore stimato e un trattamento fiscale statunitense incerto.

Citigroup Global Markets Holdings Inc., garantizado por Citigroup Inc., está comercializando valores autocancelables con cupón contingente a 3 años vinculados a Tesla, Inc. (TSLA). Los bonos pagan un cupón contingente trimestral de al menos 15,00% anual (tasa establecida en la fecha de fijación de precio) solo cuando el precio de cierre de TSLA en la fecha de valoración está en o por encima de la barrera del cupón del 60%. A partir de los seis meses, los valores están sujetos a redención automática trimestral si TSLA cierra en o por encima de su valor inicial; en ese caso, los inversores reciben el principal de $1,000 más el cupón.

Si no se activa el autocall, los valores vencen el 2 de agosto de 2028. En el vencimiento, los tenedores reciben $1,000 siempre que TSLA esté en o por encima del 60% de su nivel inicial; de lo contrario, el pago se reduce de manera proporcional a la caída de TSLA, potencialmente hasta $0. Los inversores no participan en las ganancias más allá de los cupones. Los riesgos clave incluyen la pérdida total si TSLA cae por debajo de la barrera final del 60%, la pérdida de cupones si TSLA está por debajo del umbral, apalancamiento estructural a la volatilidad, la exposición crediticia a Citi, falta de cotización, una prima en el precio de emisión sobre el valor estimado y un tratamiento fiscal estadounidense incierto.

Citigroup Global Markets Holdings Inc.는 Citigroup Inc.가 보증하며, Tesla, Inc. (TSLA)에 연계된 3년 만기 자동상환 조건부 쿠폰 증권을 마케팅하고 있습니다. 이 노트는 TSLA의 평가일 종가가 60% 쿠폰 장벽 이상일 때에만 분기별 최소 연 15.00% (가격 결정일에 확정된 금리)의 조건부 쿠폰을 지급합니다. 6개월 이후부터는 TSLA가 최초 가치 이상으로 마감하면 분기별 자동상환이 이루어지며, 투자자는 원금 $1,000과 쿠폰을 받게 됩니다.

자동상환되지 않을 경우, 노트는 2028년 8월 2일에 만기됩니다. 만기 시 TSLA가 최초 수준의 60% 이상일 경우 $1,000를 지급하지만, 그렇지 않으면 TSLA 하락분에 따라 1대1로 지급액이 줄어들어 $0까지 감소할 수 있습니다. 투자자는 쿠폰 외의 추가 상승 참여는 없습니다. 주요 위험요소로는 TSLA가 60% 최종 장벽 아래로 떨어질 경우 전액 손실, TSLA가 허들 이하일 때 쿠폰 손실, 변동성에 대한 구조적 레버리지, Citi에 대한 신용 노출, 상장 부재, 발행가가 추정 가치 대비 프리미엄, 그리고 불확실한 미국 세금 처리 등이 있습니다.

Citigroup Global Markets Holdings Inc., garanti par Citigroup Inc., commercialise des titres autocallables à coupon conditionnel sur 3 ans liés à Tesla, Inc. (TSLA). Les notes versent un coupon conditionnel trimestriel d'au moins 15,00% par an (taux fixé à la date de tarification) uniquement lorsque le cours de clôture de TSLA à la date d'évaluation est égal ou supérieur à la barrière de coupon à 60%. À partir de six mois, les titres sont soumis à un rachat automatique trimestriel si TSLA clôture à son niveau initial ou au-dessus ; les investisseurs reçoivent alors le principal de 1 000 $ plus le coupon.

En l'absence d'autocall, les notes arrivent à échéance le 2 août 2028. À l'échéance, les détenteurs reçoivent 1 000 $ à condition que TSLA soit au moins à 60 % de son niveau initial ; sinon, le paiement est réduit au prorata de la baisse de TSLA, pouvant aller jusqu'à 0 $. Les investisseurs ne bénéficient pas d'une participation à la hausse au-delà des coupons. Les risques clés incluent une perte totale si TSLA descend sous la barrière finale de 60 %, la perte des coupons lorsque TSLA est sous le seuil, un effet de levier structurel sur la volatilité, une exposition au crédit de Citi, l'absence de cotation, une prime sur le prix d'émission par rapport à la valeur estimée, ainsi qu'un traitement fiscal américain incertain.

Citigroup Global Markets Holdings Inc., garantiert von Citigroup Inc., bietet 3-jährige autocallable contingent coupon Wertpapiere, die an Tesla, Inc. (TSLA) gebunden sind, zum Verkauf an. Die Notes zahlen nur dann einen vierteljährlichen bedingten Kupon von mindestens 15,00% p.a. (am Pricing-Tag festgelegter Satz), wenn der Schlusskurs von TSLA an einem Bewertungstag auf oder über der 60%-Kupon-Barriere liegt. Ab sechs Monaten sind die Wertpapiere einer vierteljährlichen automatischen Rückzahlung unterworfen, wenn TSLA auf oder über dem Anfangswert schließt; Anleger erhalten dann den Nennwert von 1.000 $ plus Kupon.

Wird kein Autocall ausgelöst, laufen die Notes am 2. August 2028 aus. Zum Laufzeitende erhalten Inhaber 1.000 $, sofern TSLA mindestens 60 % des Anfangsniveaus erreicht; andernfalls wird die Zahlung eins zu eins mit dem Rückgang von TSLA reduziert und kann bis auf 0 $ fallen. Anleger partizipieren nicht an Kurssteigerungen über die Kupons hinaus. Wesentliche Risiken umfassen den vollständigen Verlust bei TSLA unter der 60%-Endbarriere, den Verlust der Kupons bei TSLA unter der Hürde, strukturelle Hebelwirkung auf die Volatilität, Kreditrisiko gegenüber Citi, fehlende Börsennotierung, einen Emissionspreisaufschlag gegenüber dem geschätzten Wert sowie eine unklare US-Steuerbehandlung.

The following is a summary of the terms of the notes offered by the preliminary pricing supplement hyperlinked below. Summary of Terms Issuer: JPMorgan Chase Financial Company LLC Guarantor: JPMorgan Chase & Co. Minimum Denomination: $1,000 Index: Russell 2000 ® Index Upside Leverage Factor: 1.50 Barrier Amount: 80.00% of the Initial Value Pricing Date: July 18, 2025 Review Date: July 27, 2026 Observation Date: July 18, 2029 Maturity Date: July 23, 2029 CUSIP: 48136FVD1 Preliminary Pricing Supplement: http://sp.jpmorgan.com/document/cusip/48136FVD1/doctype/Product_Termsheet/document.pdf Estimated Value: The estimated value of the notes, when the terms of the notes are set, will not be less than $950.00 per $1,000 principal amount note. For information about the estimated value of the notes, which likely will be lower than the price you paid for the notes, please see the hyperlink above. You may lose a significant portion or all of your principal at maturity. Any payment on the notes is subject to the credit risk of JPMorgan Chase Financial Company LLC, as issuer of the notes, and the credit risk of JPMorgan Chase & Co., as guarantor of the notes. Automatic Call If the closing level of the Index on the Review Date is greater than or equal to the Call Value, the notes will be automatica lly called for a cash payment, for each $1,000 principal amount note, equal to (a) $1,000 plus (b) the Call Premium Amount, payable on the Call Settlement Date. No further payments will be made on the notes. If the notes are automatically called, you will not benefit from the Upside Leverage Factor that applies to the payment at ma tur ity if the Final Value is greater than the Initial Value. Because the Upside Leverage Factor does not apply to the payment upon an auto mat ic call, the payment upon an automatic call may be significantly less than the payment at maturity for the same level of appreciation in the Index. Payment At Maturity If the notes have not been automatically called and the Final Value is greater than the Initial Value, your payment at maturi ty per $1,000 principal amount note will be calculated as follows: $1,000 + ($1,000 î Index Return î Upside Leverage Factor) If the notes have not been automatically called and the Final Value is equal to the Initial Value or is less than the Initial Va lue but greater than or equal to the Barrier Amount, you will receive the principal amount of your notes at maturity. If the notes have not been automatically called and the Final Value is less than the Barrier Amount, your payment at maturity pe r $1,000 principal amount note will be calculated as follows: $1,000 + ($1,000 î Index Return) If the notes have not been automatically called and the Final Value is less than the Barrier Amount, you will lose more than 20. 00% of your principal amount at maturity and could lose all of your principal amount at maturity. J.P. Morgan Structured Investments | 1 800 576 3529 | jpm_structured_investments@jpmorgan.com 4yNC1y RTY Auto Callable Accelerated Barrier Notes North America Structured Investments Call Premium* Call Value At least 13.15% 100.00% of the Initial Value Hypothetical Examples of Amounts Payable Upon Automatic Call or at Maturity** Total Return at Maturity if not Automatically Called Total Return at Review Date* Index Return at Review Date / Observation Date 97.50% 13.15% 65.00% 75.00% 13.15% 50.00% 60.00% 13.15% 40.00% 45.00% 13.15% 30.00% 30.00% 13.15% 20.00% 15.00% 13.15% 10.00% 7.50% 13.15% 5.00% 0.00% 13.15% 0.00% 0.00% N/A - 5.00% 0.00% N/A - 10.00% 0.00% N/A - 20.00% - 20.01% N/A - 20.01% - 30.00% N/A - 30.00% - 40.00% N/A - 40.00% - 60.00% N/A - 60.00% - 80.00% N/A - 80.00% - 100.00% N/A - 100.00% N/A – indicates that the notes would not be called and no payment would be made. * Reflects a call premium of 13.15% per annum. The call premium will be determined on the Pricing Date and will not be less than 13.15% per annum. ** The hypothetical returns on the notes shown above apply only if you hold the notes for their entire term or until automatically called. These hypotheticals do not reflect fees or expenses that would be associated with any sale in the secondary market. If these fees and expenses were included, the hypothetical returns would likely be lower.

 
 

J.P. Morgan Structured Investments | 1 800 576 3529 | jpm_structured_investments@jpmorgan.com Selected Risks • Your investment in the notes may result in a loss. The notes do not guarantee any return of principal. • Any payment on the notes is subject to the credit risks of JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. Therefore the value of the notes prior to maturity will be subject to changes in the market’s view of the creditworthiness of JPMorgan Chase Financial Company LLC or JPMorgan Chase & Co. • If the notes are automatically called, the appreciation potential of the notes is limited to the Call Premium Amount paid on the notes. • The benefit provided by the Barrier Amount may terminate on the Observation Date. • The automatic call feature may force a potential early exit. • No interest payments, dividend payments or voting rights. • The notes are subject to the risks associated with small capitalization stocks. • The notes are subject to the risks associated with non - U.S. securities. • As a finance subsidiary, JPMorgan Chase Financial Company LLC has no independent operations and has limited assets. Selected Risks (continued) • The estimated value of the notes will be lower than the original issue price (price to public) of the notes. • The estimated value of the notes is determined by reference to an internal funding rate. • The estimated value of the notes does not represent future values and may differ from others’ estimates. • The value of the notes, which may be reflected in customer account statements, may be higher than the then current estimated value of the notes for a limited time period. • Lack of liquidity: J.P. Morgan Securities LLC (who we refer to as JPMS) intends to offer to purchase the notes in the secondary market but is not required to do so. The price, if any, at which JPMS will be willing to purchase notes from you in the secondary market, if at all, may result in a significant loss of your principal. • Potential conflicts: We and our affiliates play a variety of roles in connection with the issuance of notes, including acting as calculation agent and hedging our obligations under the notes, and making the assumptions used to determine the pricing of the notes and the estimated value of the notes when the terms of the notes are set. It is possible that such hedging or other trading activities of J.P. Morgan or its affiliates could result in substantial returns for J.P. Morgan and its affiliates while the value of the notes declines. • The tax consequences of the notes may be uncertain. You should consult your tax adviser regarding the U.S. federal income tax consequences of an investment in the notes. Additional Information SEC Legend: JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. have filed a registration statement (including a pr osp ectus) with the SEC for any offerings to which these materials relate. Before you invest, you should read the prospectus in that registration statement and the other documents relating to this offering that JPM organ Chase Financial Company LLC and JPMorgan Chase & Co. has filed with the SEC for more complete information about JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. and this offering. You may get the se documents without cost by visiting EDGAR on the SEC web site at www.sec.gov. Alternatively, JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co., any agent or any dealer participating in the th is offering will arrange to send you the prospectus and each prospectus supplement, as well as any product supplement, underlying supplement and preliminary pricing supplement if you so request by calling toll - free 1 - 866 - 535 - 9248. IRS Circular 230 Disclosure: JPMorgan Chase & Co. and its affiliates do not provide tax advice. Accordingly, any discussion o f U .S. tax matters contained herein (including any attachments) is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with JPMorgan Cha se & Co. of any of the matters addressed herein or for the purpose of avoiding U.S. tax - related penalties. Investment suitability must be determined individually for each investor, and the financial instruments described herein may not be suitable for all investors. This information is not intended to provide and should not be relied upon as providing accounting, legal, regulatory or tax advice. Investors should consult with their own advisers as to these m att ers. This material is not a product of J.P. Morgan Research Departments. Free Writing Prospectus Filed Pursuant to Rule 433, Registration Statement Nos. 333 - 270004 and 333 - 270004 - 01 North America Structured Investments 4yNC1y RTY Auto Callable Accelerated Barrier Notes The risks identified above are not exhaustive. Please see “Risk Factors” in the prospectus supplement and the applicable prod uct supplement, Annex A to the prospectus addendum and “Selected Risk Considerations” in the applicable preliminary pricing supplement for additional information.

 

FAQ

What is the coupon rate on Citigroup's TSLA-linked autocallable notes?

The quarterly contingent coupon will be set on the pricing date at no less than 15.00% per annum.

When can the TSLA-linked notes be automatically redeemed?

Starting six months after issuance, the notes will be autocalled quarterly if TSLA closes at or above its initial value on a valuation date.

How much principal protection do these notes provide?

There is a 40% downside buffer; if TSLA is below 60% of its initial value at maturity, principal is reduced in line with TSLA’s decline.

Do investors participate in TSLA upside?

No. Returns are limited to the contingent coupons; any appreciation in TSLA above the initial level accrues solely to the issuer.

Are the notes exposed to Citigroup credit risk?

Yes. All payments depend on the creditworthiness of Citigroup Global Markets Holdings Inc. and its guarantor, Citigroup Inc..

Will the securities be listed on an exchange?

No, the notes will not be listed, so secondary market liquidity may be limited.
Inverse VIX S/T Futs ETNs due Mar22,2045

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4.00M
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NEW YORK