Citigroup Global Markets Holdings Inc. filed a free writing prospectus on November 10, 2026, disclosing preliminary terms for 3 Year Callable Contingent Coupon Securities linked to the worst of three equity indexes, with a pricing date of November 24, 2026, and a maturity date of November 29, 2029.

Key Highlights

  • Issuer and guarantor: Citigroup Global Markets Holdings Inc. is the issuer; Citigroup Inc. serves as guarantor.
  • Underlying indexes: The securities are linked to the worst performer among the Nasdaq-100 Technology Sector Index (NDXT), the Russell 2000 Index (RTY), and the S&P 500 Index (SPX).
  • Contingent coupon rate: 10.20% per annum, paid quarterly, only if the worst-performing underlying closes at or above 70.00% of its initial value on the relevant valuation date.
  • Barrier level: Both the coupon barrier value and the final barrier value are set at 70.00% of each underlying's initial value.
  • Principal at risk: If the worst performer's final value is below its final barrier value, investors lose 1% of the $1,000 stated principal for every 1% decline from the initial value, with no minimum payment at maturity.
  • Callable feature: The issuer may redeem the securities in whole, but not in part, on any quarterly valuation date beginning after six months, upon not less than three business days' notice.
  • CUSIP / ISIN: 17334HBX0 / US17334HBX08.

Preliminary Terms of the Callable Contingent Coupon Securities

According to the filing, Citigroup Global Markets Holdings Inc. is offering 3 Year Callable Contingent Coupon Securities with a stated principal amount of $1,000 per security. The securities carry a contingent coupon of 10.20% per annum, paid quarterly, but only on valuation dates when the closing value of the worst-performing underlying is greater than or equal to its coupon barrier value, which is set at 70.00% of its initial value. The filing states that investors "are not assured of receiving any contingent coupon."

The payment at maturity depends entirely on the final underlying value of the worst performer. If that value remains at or above 70.00% of the initial underlying value, holders receive $1,000 per security. If it falls below that threshold, the filing discloses that the payment equals $1,000 plus $1,000 multiplied by the underlying return of the worst performer, meaning principal losses are proportional to the decline. The filing notes there is "no minimum payment at maturity" and investors "may lose up to all of your investment."

The filing identifies several risk factors, including that the securities will not be listed on any securities exchange, that the estimated value on the pricing date will be less than the issue price, and that all payments are subject to the credit risk of both Citigroup Global Markets Holdings Inc. and Citigroup Inc. The filing also notes that the issuer's optional call feature "will limit your ability to receive the contingent coupon payments." The preliminary pricing supplement referenced in this filing was dated November 10, 2026, and was filed pursuant to Rule 433 under registration file numbers 333-293732 and 333-293732-02.

What Was Disclosed

Citigroup Global Markets Holdings Inc. disclosed preliminary terms for callable structured securities maturing November 29, 2029, with a 10.20% per annum contingent coupon, a 70.00% barrier on three equity indexes, and full principal at risk if the worst performer breaches that barrier at maturity.