# EDGAR Filing Document

**Accession Number:** 0000200245
**File Stem:** 0000950103-25-012685
**Filing Date:** 2025-10
**Character Count:** 11143
**Document Hash:** 26be65272690ee3a5988445b7f5a0ad2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950103-25-012685.hdr.sgml**: 20251002

**ACCESSION NUMBER**: 0000950103-25-012685

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20251002

**DATE AS OF CHANGE**: 20251001

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Citigroup Global Markets Holdings Inc.
- **CENTRAL INDEX KEY:** 0000200245
- **STANDARD INDUSTRIAL CLASSIFICATION:** SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 112418067
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-270327-01
- **FILM NUMBER:** 251366059

**BUSINESS ADDRESS:**
- **STREET 1:** 388 GREENWICH ST
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10013
- **BUSINESS PHONE:** 212-816-6000

**MAIL ADDRESS:**
- **STREET 1:** 388 GREENWICH ST
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10013

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CITIGROUP GLOBAL MARKETS HOLDINGS INC
- **DATE OF NAME CHANGE:** 20030404

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SALOMON SMITH BARNEY HOLDINGS INC
- **DATE OF NAME CHANGE:** 19971128

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SALOMON INC
- **DATE OF NAME CHANGE:** 19920703
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Citigroup Global Markets Holdings Inc.
- **CENTRAL INDEX KEY:** 0000200245
- **STANDARD INDUSTRIAL CLASSIFICATION:** SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 112418067
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** 388 GREENWICH ST
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10013
- **BUSINESS PHONE:** 212-816-6000

**MAIL ADDRESS:**
- **STREET 1:** 388 GREENWICH ST
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10013

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CITIGROUP GLOBAL MARKETS HOLDINGS INC
- **DATE OF NAME CHANGE:** 20030404

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SALOMON SMITH BARNEY HOLDINGS INC
- **DATE OF NAME CHANGE:** 19971128

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SALOMON INC
- **DATE OF NAME CHANGE:** 19920703

Preliminary Terms This summary of terms is not complete and should be read with the pricing supplement below Citigroup Global Markets Holdings Inc. Issuer: Citigroup Inc. Guarantor: S&P 500/Gold Futures Dual Asset Trend 35% VT TCA 6% Decrement Index (USD) ER (Ticker: SPXGT356)(THE "Index") Underlying: October 31, 2025 Pricing date: November 2, 2026, November 1, 2027, October 31, 2028, October 31, 2029 and October 31, 2030 (the "final valuation date") Valuation dates: November 5, 2030 Maturity date: If, on any valuation date prior to the final valuation date, the closing value of the underlying is greater than or equal to the premium threshold value applicable to that valuation date, the notes will be automatically redeemed for $1,000 plus the premium applicable to that valuation date. Automatic early redemption: 17333MK85 / US17333MK851 CUSIP / ISIN: The closing value of the underlying on the pricing date Initial underlying value: The closing value of the underlying on the final valuation date Final underlying value: 13.00% per annum\* Premium: 125% of the initial underlying value on the first valuation date, decreasing by 5.00% on each subsequent valuation date Premium threshold value: • If the final underlying value is greater than or equal to the premium threshold value applicable to the final valuation date: $1,000 + the premium applicable to the final valuation date • If the final underlying value is less than the premium threshold value applicable to the final valuation date: $1,000 All payments on the notes are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc. Payment at maturity (if not autocalled prior to maturity): $1,000 per note Stated principal amount: Preliminary Pricing Supplement dated October 1, 2025 Pricing supplement: \* The actual premium will be determined on the pricing date. \*\* The hypotheticals assume that the premium will be set at the lowest value indicated in this offering summary. Citigroup Global Markets Holdings Inc. Guaranteed by Citigroup Inc. 5 Year Autocallable Market - Linked Notes Linked to SPXGT356 \*\*\*Percentage of initial underlying value If, on any valuation date prior to the final valuation date, the closing value of the underlying is not greater than or equal to the premium threshold value applicable to that valuation date, then the notes will not be automatically redeemed prior to maturity and you will not receive a premium. Hypothetical Payment at Early Redemption\*\* Hypothetical Payment at Maturity\*\* (if not automatically redeemed) Hypothetical Payment at Early Redemption Premium Premium Threshold value\*\*\* Valuation Date $1,130.00 13.00% 125.00% October 28, 2026 $1,260.00 26.00% 120.00% October 28, 2027 $1,390.00 39.00% 115.00% October 30, 2028 $1,520.00 52.00% 110.00% October 29, 2029

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Citigroup Global Markets Holdings Inc. Guaranteed by Citigroup Inc. Selected Risk Considerations • You may not receive any return on your investment in the notes . • The notes do not pay interest. • The premium threshold value is greater than the initial underlying value • Your potential return on the notes is limited to the applicable premium payable upon automatic early redemption or at maturity. • The notes may be automatically redeemed prior to maturity, limiting the term of the notes. • Although the notes provide for the repayment of the stated principal amount at maturity, you may nevertheless suffer a loss on your investment in real value terms . • The performance of the notes will depend on the closing values of the underlying solely on the valuation dates, which makes the notes particularly sensitive to volatility in the closing values of the underlying on or near the valuation dates. • The notes 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 notes and Citigroup Inc. defaults on its guarantee obligations, you may not receive anything owed to you under the notes. • The notes will not be listed on any securities exchange and you may not be able to sell them prior to maturity. • Sale of the notes prior to maturity may result in a loss of principal. • The estimated value of the notes on the pricing date is less than the issue price. For more information about the estimated value of the notes, see the accompanying preliminary pricing supplement. • The value of the notes prior to maturity will fluctuate based on many unpredictable factors. • The issuer and its affiliates may have conflicts of interest with you. • The calculation agent, which is an affiliate of ours, will make important determinations with respect to the notes. • If a commodity hedging disruption event occurs during the term of the notes, we may redeem the notes early. • The calculation agent may make discretionary determinations in connection with a commodity hedging disruption event and the early redemption amount that could adversely affect your return upon early redemption. • The Index is highly risky because it may reflect highly leveraged exposure to the Portfolio and may therefore experience a decline that is many multiples of any decline in the Portfolio. • The Index may realize significant losses if it is not consistently successful in increasing exposure to the Portfolio in advance of increases in the value of the Portfolio and reducing exposure in advance of declines, or if it is not consistently successful in allocating greater weight within the Portfolio to the Underlying Futures Index with the higher performance. • The Index may be adversely affected by a time lag in its volatility targeting mechanism. • The Index may be slow to react to changes in volatility because of a 25% maximum daily weight change, which may adversely affect its performance. • The Index's trend - following mechanism may not be effective. • The Index may be adversely affected by a "decay" effect. • Each Underlying Futures Index is expected to underperform its reference asset because of an implicit financing cost. • The performance of the Index will be reduced by notional costs and by a decrement of 6% per annum. • The Index may not fully participate in any appreciation of the Portfolio. • The Index may perform less favorably than it would if its volatility targeting mechanism were based on an alternative volatility measure, such as implied volatility, rather than historical realized volatility. • The Index may significantly underperform the S&P 500® Index, gold or both. • The components of the Portfolio may offset each other, dampening Index performance. • The Index is subject to risks related to the price of gold. • Legal and regulatory changes could adversely affect the performance of the Index. • Holders of the notes will not benefit from regulatory protections of the Commodity Futures Trading Commission. • Distortions or disruptions of market trading in gold futures could adversely affect the value of and return on the notes. • The Index has limited actual performance information. • An affiliate of ours participated in the development of the Index. The above summary of selected risks does not describe all of the risks associated with an investment in the notes. You should read the accompanying preliminary pricing supplement and product supplement for a more complete description of risks relating to the notes. 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 notes. 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.