Citigroup plans to price capped annual buffer securities on Cboe S&P 500 10% Buffered 25 April

New York, April 20 – Citigroup Global Markets Holdings Inc. plans to price 0% capped annual buffer securities due April 30, 2029 linked to the Cboe S&P 500 10% Buffered 25 April index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

The notes are putable and callable at the redemption amount on any annual redemption date.

The payout at maturity will be the redemption amount.

With respect to the annual roll date on which the redemption amount is determined, the redemption amount will equal $1,000 plus the product of $1,000 multiplied by the cumulative index return determined as of that annual roll date.

As of any annual roll date, the cumulative index return equals the percentage change in the closing level of the index from the pricing date to that annual roll date.

The annual roll dates are the third NYSE trading day immediately preceding the last NYSE trading day of April of each year.

The annual redemption date is the fifth business day following each annual roll date.

For the annual measurement period that begins on the pricing date, the initial SPX participation cap is between 9.75% and 11.75%, with the exact cap to be set at pricing. The cap for each annual measurement period is determined on the annual roll date that begins that annual measurement period.

For the annual measurement period that begins on the pricing date, the initial annual roll charge will be between 0.45% and 1.10% and its exact amount will be determined at pricing. The annual roll charge for each annual measurement period is determined on the annual roll date that begins that annual measurement period and will be deducted from the index level on the day after that annual roll date. The annual roll charge has the effect of causing the SPX participation cap to be lower than otherwise would have been determined in the absence of the annual roll charge.

The index fee is 0.25% per year, accruing daily on the daily index level.

For the annual measurement period that begins on the pricing date, the initial maximum annual return will be comprised between 9.45% and 11.45% (to be determined on the pricing date) assuming that the cumulative effect of the index fee over the first annual measurement period is 0.3% of the level of index on the pricing date. The maximum annual return of the index for any annual measurement period is the SPX participation cap for that annual measurement period minus the cumulative effect of the index fee over that period. The issuer said it is not possible to quantify the cumulative effect of the index fee on any annual measurement period in advance because the amount of the index fee accrues on the level of the index on each day during that period. This initial maximum annual return based on a hypothetical cumulative effect of the index fee of 0.3% may be higher or lower than the actual cumulative effect of the index fee for the first annual measurement period.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on April 26 and settle on April 29.

The Cusip number is 17330FJK8.

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