# EDGAR Filing Document

**Accession Number:** 0000831001
**File Stem:** 0000950103-26-006273
**Filing Date:** 2026-4
**Character Count:** 63377
**Document Hash:** d927046cda6859e94709278c79969e00
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950103-26-006273.hdr.sgml**: 20260428

**ACCESSION NUMBER**: 0000950103-26-006273

**CONFORMED SUBMISSION TYPE**: 424B2

**PUBLIC DOCUMENT COUNT**: 15

**FILED AS OF DATE**: 20260428

**DATE AS OF CHANGE**: 20260428

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CITIGROUP INC
- **CENTRAL INDEX KEY:** 0000831001
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 521568099
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 424B2
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-293732
- **FILM NUMBER:** 26907097

**BUSINESS ADDRESS:**
- **STREET 1:** 388 GREENWICH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10013
- **BUSINESS PHONE:** 2125591000

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TRAVELERS GROUP INC
- **DATE OF NAME CHANGE:** 19950519

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TRAVELERS INC
- **DATE OF NAME CHANGE:** 19940103

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRIMERICA CORP /NEW/
- **DATE OF NAME CHANGE:** 19920703
**FILER**: 

**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:** 424B2
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-293732-02
- **FILM NUMBER:** 26907098

**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

---

| | |
|:---|:---|
| Citigroup Global Markets Holdings Inc. | **April 24, 2026**<br>**Medium-Term Senior Notes, Series N**<br>**Pricing Supplement No. 2026-USNCH31513**<br>**Filed Pursuant to Rule 424(b)(2)**<br>**Registration Statement Nos. 333-293732 and 333-293732-02**<br>|

---

3,222 Market-Linked Notes Based on a Basket of Two Equity Indices Due April 30, 2030

 **Overview**

&nbsp;&nbsp;&nbsp;&nbsp;▪ The notes offered by this pricing supplement are unsecured debt securities issued by Citigroup Global Markets Holdings Inc. and guaranteed
by Citigroup Inc. Unlike conventional debt securities, the notes do not pay interest. Instead, the notes offer the potential for a positive
return at maturity based on the performance of a basket (the "basket") consisting of the S&P 500<sup>®</sup> Index
and the TOPIX<sup>®</sup> Index (each, a "basket component") from the initial basket level to the final basket level.

&nbsp;&nbsp;&nbsp;&nbsp;▪ The notes provide 1-to-1 exposure to any positive performance of the basket within a limited range of potential appreciation. If the
basket appreciates from the initial basket level to the final basket level, you will receive a positive return at maturity equal to that
appreciation, subject to the maximum return at maturity specified below. However, if the value of the basket remains the same or depreciates
from the initial basket level to the final basket level, you will be repaid the stated principal amount of your notes at maturity but
will not receive any return on your investment. Even if the basket appreciates from the initial basket level to the final basket level,
so that you do receive a positive return at maturity, there is no assurance that your total return at maturity on the notes will compensate
you for the effects of inflation or be as great as the yield you could have achieved on a conventional debt security of ours of comparable
maturity.

&nbsp;&nbsp;&nbsp;&nbsp;▪ Investors in the notes must be willing to forgo (i) any return on the notes in excess of the maximum return at maturity and (ii) any
dividends that may be paid on the stocks included in the basket components during the term of the notes. **If the basket does not appreciate from the pricing date to the valuation date, you will not receive any return on your investment in the notes.** 

&nbsp;&nbsp;&nbsp;&nbsp;▪ In order to obtain the modified exposure to the basket that the notes provide, investors must be willing to accept (i) an investment
that may have limited or no liquidity and (ii) the risk of not receiving any amount due under the notes if we and Citigroup Inc. default
on our obligations. **All payments on the notes are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc.** 

---

| | |
|:---|:---|
| **KEY TERMS** |  |
| **Issuer:** | Citigroup Global Markets Holdings Inc., a wholly owned subsidiary of Citigroup Inc. |
| **Guarantee:** | All payments due on the notes are fully and unconditionally guaranteed by Citigroup Inc. |

---

---

| | | | |
|:---|:---|:---|:---|
| **Basket:** | **Basket Component** | **Weighting** | **Initial Component Level\*** |
|  | &nbsp;&nbsp; S&P 500<sup>®</sup> Index (ticker symbol: "SPX")<br>| 70.00% | 7165.08 |
|  | TOPIX<sup>®</sup> Index (ticker symbol: "TPX")<br>| 30.00% | 3716.59 |

---

---

| | |
|:---|:---|
|  | \* The initial component level for each basket component is the closing level of that basket component on the pricing date. |
| **Aggregate stated principal amount:** | $3222000 |
| **Stated principal amount:** | $1,000 per note |
| **Pricing date:** | April 24, 2026 |
| **Issue date:** | April 30, 2026 |
| **Valuation date:** | April 24, 2030, subject to postponement if such date is not a scheduled trading day or if certain market disruption events occur |
| **Maturity date:** | April 30, 2030 |
| **Payment at maturity:** | For each note you hold at maturity, the $1,000 stated principal amount *plus* the note return amount, which will be either zero or positive |
| **Note return amount:** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;▪ If the final basket level is **greater than** the initial basket level:<br>$1,000 × the basket return, subject to the maximum return at maturity<br>&nbsp;&nbsp;&nbsp;&nbsp;▪ If the final basket level is **less than or equal to** the initial basket level:<br>$0<br>|
| **Basket return:** | (i) The final basket level *minus* the initial basket level, *divided by* (ii) the initial basket level |
| **Maximum return at maturity:** | $298.00 per note (29.80% of the stated principal amount). The payment at maturity per note will not exceed $1.000.00 *plus* the maximum return at maturity. |
| **Initial basket level:** | 100 |
| **Final basket level:** | 100 × (1 + the sum of the weighted component returns of the basket components) |
| **Weighted component return:** | For each basket component, its weighting *multiplied by* its component return |
| **Component return:** | For each basket component: (final component level – initial component level) / initial component level |
| **Final component level:** | For each basket component, its closing level on the valuation date. |
| **Listing:** | The notes will not be listed on any securities exchange |
| **CUSIP / ISIN:** | 17332VSD7 / US17332VSD72 |
| **Paying agent:** | Citibank, N.A. |
| **Underwriter:** | Citigroup Global Markets Inc. ("CGMI"), an affiliate of the issuer, acting as principal |

---

---

| | | | |
|:---|:---|:---|:---|
| **Underwriting fee and issue price:** | **Issue price<sup>(1)(2)</sup>** | **Underwriting fee** | **Proceeds to issuer** |
| **Per note:** | $1000.00 | $25.00**<sup>(2)</sup>** | $970.00 |
|  |  | $5.00**<sup>(3)</sup>** |  |
| **Total:** | $3222000.00 | $96660.00 | $3125340.00 |

---

(1) On the date of this pricing supplement, the estimated value of the notes is $956.30 per note, which is less than the issue price. The estimated value of the notes is based on CGMI's proprietary pricing models and our internal funding rate. It is not an indication of actual profit to CGMI or other of our affiliates, nor is it an indication of the price, if any, at which CGMI or any other person may be willing to buy the notes from you at any time after issuance. See "Valuation of the Notes" in this pricing supplement.

(2) CGMI, an affiliate of Citigroup Global Markets Holdings Inc. and the underwriter of the sale of the notes, is acting as principal and will receive an underwriting fee of $30.00 for each $1,000 note sold in this offering. Certain selected dealers, including Morgan Stanley Wealth Management, and their financial advisors will collectively receive from CGMI a fixed selling concession of $25.00 for each $1,000 note they sell. Additionally, it is possible that CGMI and its affiliates may profit from hedging activity related to this offering, even if the value of the notes declines. See "Use of Proceeds and Hedging" in the accompanying prospectus. In addition, CGMI will pay to one or more electronic platform providers a fee of $5.00 for each Security sold in this offering where related selected dealers and/or custodians implement or utilize such providers.

(3) Reflects a structuring fee payable to Morgan Stanley Wealth Management by CGMI of $5.00 for each note.

**Investing in the notes involves risks not associated with an investment in conventional debt securities. See "Summary Risk Factors" beginning on page PS-5.**

**Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of the notes or determined that this pricing supplement and the accompanying product supplement, underlying supplement, prospectus supplement and prospectus is truthful or complete. Any representation to the contrary is a criminal offense.**

***You should read this pricing supplement together with the accompanying product supplement, underlying supplement, prospectus supplement and prospectus, each of which can be accessed via the hyperlinks below:***

[**Product Supplement No. EA-03-11 dated February 25, 2026**](https://www.sec.gov/Archives/edgar/data/200245/000095010326002643/dp241932_424b2-pp0311.htm) [**Underlying Supplement No. 13 dated February 25, 2026**](https://www.sec.gov/Archives/edgar/data/200245/000095010326002640/dp241935_424b2-us13.htm)

**<u>[Prospectus Supplement and Prospectus each dated February 25, 2026](https://www.sec.gov/Archives/edgar/data/200245/000119312526071985/d53413d424b2.htm)</u>**

**The notes are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, nor are they obligations of, or guaranteed by, a bank.**

<u>Citigroup Global Markets Holdings Inc.</u> <br> <u>3,222 Market-Linked Notes Based on a Basket of Two Equity Indices Due April 30, 2030</u> <br>

Additional Information

**General.** The terms of the notes are set forth in the accompanying product supplement, prospectus supplement and prospectus, as supplemented by this pricing supplement. The accompanying product supplement, prospectus supplement and prospectus contain important disclosures that are not repeated in this pricing supplement. For example, certain events may occur that could affect your payment at maturity. These events and their consequences are described in the accompanying product supplement in the sections "Description of the Notes—Certain Additional Terms for Notes Linked to an Underlying Index—Consequences of a Market Disruption Event; Postponement of a Valuation Date" and "—Discontinuance or Material Modification of an Underlying Index," and not in this pricing supplement. The accompanying underlying supplement contains important disclosures regarding the basket components that are not repeated in this pricing supplement. It is important that you read the accompanying product supplement, underlying supplement, prospectus supplement and prospectus together with this pricing supplement in connection with your investment in the notes. Certain terms used but not defined in this pricing supplement are defined in the accompanying product supplement.

**Postponement of the valuation date.** If the valuation date is postponed for a reason that affects less than all of the basket components, the final basket level will be calculated based on (i) for each unaffected basket component, its closing level on the originally scheduled valuation date and (ii) for each affected basket component, its closing level on the valuation date as postponed (or, if earlier, the first scheduled trading day for that basket component following the originally scheduled valuation date on which a market disruption event did not occur with respect to that basket component). See "Description of the Notes—Certain Additional Terms for Notes Linked to an Underlying Index—Consequences of a Market Disruption Event; Postponement of a Valuation Date" in the accompanying product supplement.

Investment Summary

The notes offer the potential for 100% participation in any positive performance of the basket, subject to the maximum return at maturity. The notes provide investors:

▪ an opportunity to gain exposure to the basket;

▪ the repayment of principal at maturity;

▪ 100% participation in any appreciation of the basket over the term of the notes, subject to the maximum return at maturity; and

▪ no exposure to any decline of the basket if the notes are held to maturity.

At maturity, if the basket has depreciated or has not appreciated at all, you will receive the stated principal amount of $1,000 per note, without any positive return on your investment. All payments on the notes, including the repayment of principal at maturity, are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc. Investors in the notes will not receive any dividends paid on the stocks that make up the basket components over the term of the notes.

---

| | |
|:---|:---|
| **Maximum return at maturity:** | $298.00 per note (29.80% of the stated principal amount) |
| **Minimum payment at maturity:** | $1000.00 |
| **Interest:** |  |

---

Key Investment Rationale

The notes offer investors exposure to the performance of a basket of unequally-weighted equity indices and provide for the repayment of principal at maturity. They are for investors who are concerned about principal risk but seek an equity basket-based return, and who are willing to forgo dividends and any return in excess of the maximum return at maturity in exchange for the repayment of principal at maturity if the basket depreciates.

---

| | |
|:---|:---|
| **Repayment of Principal:** | The notes offer investors 1-to-1 upside exposure to any appreciation of the basket up to the maximum return at maturity, while providing for the repayment of principal in full at maturity. |
| **Upside Scenario:** | If the final basket level is **greater than** the initial basket level, the payment at maturity for each note will be equal to the $1,000 stated principal amount *plus* the basket return, subject to the maximum return at maturity of $298.00 per note (29.80% of the stated principal amount). |
| **Par Scenario:** | If the final basket level is **less than or equal to** the initial basket level, the notes will pay only the stated principal amount of $1,000 at maturity. |

---

April 2026 PS-2

<u>Citigroup Global Markets Holdings Inc.</u> <br> <u>3,222 Market-Linked Notes Based on a Basket of Two Equity Indices Due April 30, 2030</u> <br>

Hypothetical Examples

The diagram below illustrates your payment at maturity for a range of hypothetical basket returns.

---

| |
|:---|
| **Market-Linked Notes Payment at Maturity Diagram** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![](image_001.jpg)<br>■ The Notes ■ The Basket<br>|

---

The examples below do not reflect the actual final basket level. We have used hypothetical values, rather than the actual values, to simplify the calculations and aid understanding of how the notes work. However, you should understand that the actual payment at maturity on the notes will be calculated based on the actual final basket level and not the hypothetical values indicated below. For ease of analysis, figures below may have been rounded.

**Example 1—Upside Scenario A.** The hypothetical final basket level is 113.50 (a 13.50% increase from the initial basket level), which is **greater than** the initial basket level.

---

| | | | |
|:---|:---|:---|:---|
| **Basket Component** | **Hypothetical Component Return** | **Weighting** | **Hypothetical Weighted Component Return (Hypothetical Component Return *times* Weighting)** |
| S&P 500<sup>®</sup> Index | 15.00% | 70.00% | 10.50% |
| TOPIX<sup>®</sup> Index | 10.00% | 30.00% | 3.00% |
| **Sum of hypothetical weighted component returns:** | **Sum of hypothetical weighted component returns:** | **Sum of hypothetical weighted component returns:** | 13.50% |

---

---

| | |
|:---|:---|
| Payment at maturity per note | = $1,000 + the note return amount, subject to the hypothetical maximum return at maturity |
|  | = $1,000 + ($1,000 × the basket return), subject to the hypothetical maximum return at maturity |
|  | = $1,000 + ($1,000 × 13.50%), subject to the hypothetical maximum return at maturity |
|  | = $1,000 + $135.00, subject to the hypothetical maximum return at maturity |
|  | = $1,135.00 |

---

April 2026 PS-3

<u>Citigroup Global Markets Holdings Inc.</u> <br> <u>3,222 Market-Linked Notes Based on a Basket of Two Equity Indices Due April 30, 2030</u> <br>

Because the basket appreciated by 13.50% from the initial basket level to the hypothetical final basket level and the note return amount of $135.00 results in a total return at maturity of 13.50%, which is less than the hypothetical maximum return at maturity of 29.80%, your total return at maturity in this scenario would be 13.50%.

**Example 2—Upside Scenario B.** The hypothetical final basket level is 154.00 (a 54.00% increase from the initial basket level), which is **greater than** the initial basket level.

---

| | | | |
|:---|:---|:---|:---|
| **Basket Component** | **Hypothetical Component Return** | **Weighting** | **Hypothetical Weighted Component Return (Hypothetical Component Return *times* Weighting)** |
| S&P 500<sup>®</sup> Index | 60.00% | 70.00% | 42.00% |
| TOPIX<sup>®</sup> Index | 40.00% | 30.00% | 12.00% |
| **Sum of hypothetical weighted component returns:** | **Sum of hypothetical weighted component returns:** | **Sum of hypothetical weighted component returns:** | 54.00% |

---

---

| | |
|:---|:---|
| Payment at maturity per note | = $1,000 + the note return amount, subject to the hypothetical maximum return at maturity |
|  | = $1,000 + ($1,000× the basket return), subject to the hypothetical maximum return at maturity |
|  | = $1,000 + ($1,000 × 54.00%), subject to the hypothetical maximum return at maturity |
|  | = $1,000 + $540.00, subject to the hypothetical maximum return at maturity |
|  | = $1,298.00 |

---

Because the basket appreciated by 54.00% from the initial basket level to the hypothetical final basket level and the note return amount of $540.00 results in a total return at maturity of 54.00%, which is greater than the hypothetical maximum return at maturity of 29.80%, your total return at maturity in this scenario would equal the hypothetical maximum return at maturity of 29.80%. In this scenario, an investment in the notes would underperform a hypothetical alternative investment providing 1-to-1 exposure to the appreciation of the basket without a maximum return at maturity.

**Example 3—Par Scenario.** The hypothetical final basket level is 73.00 (a 27.00% decrease from the initial basket level), which is **less than** the initial basket level.

---

| | | | |
|:---|:---|:---|:---|
| **Basket Component** | **Hypothetical Component Return** | **Weighting** | **Hypothetical Weighted Component Return (Hypothetical Component Return *times* Weighting)** |
| S&P 500<sup>®</sup> Index | -45.00% | 70.00% | -31.50% |
| TOPIX<sup>®</sup> Index | 15.00% | 30.00% | 4.50% |
| **Sum of hypothetical weighted component returns:** | **Sum of hypothetical weighted component returns:** | **Sum of hypothetical weighted component returns:** | -27.00% |

---

---

| | |
|:---|:---|
| Payment at maturity per note | = $1,000 + the note return amount |
|  | = $1,000 + $0 |
|  | = $1,000 |

---

Because the basket depreciated from the initial basket level to the hypothetical final basket level, the payment at maturity per note would equal the $1,000 stated principal amount per note. In this scenario, even though the TOPIX<sup>®</sup> Index appreciated, the appreciation is more than offset by the depreciation of the S&P 500<sup>®</sup> Index.

April 2026 PS-4

<u>Citigroup Global Markets Holdings Inc.</u> <br> <u>3,222 Market-Linked Notes Based on a Basket of Two Equity Indices Due April 30, 2030</u> <br>

Summary Risk Factors

An investment in the notes is significantly riskier than an investment in conventional debt securities. The notes are subject to all of the risks associated with an investment in our conventional debt securities that are guaranteed by Citigroup Inc., including the risk that we and Citigroup Inc. may default on our obligations under the notes, and are also subject to risks associated with the basket components. Accordingly, the notes are appropriate only for investors who are capable of understanding the complexities and risks of the notes. You should consult your own financial, tax and legal advisors as to the risks of an investment in the notes and the appropriateness of the notes in light of your particular circumstances.

The following is a summary of certain key risk factors for investors in the notes. You should read this summary together with the more detailed description of risks relating to an investment in the notes contained in the section "Risk Factors Relating to the Notes" beginning on page EA-6 in the accompanying product supplement. You should also carefully read the risk factors included in the accompanying prospectus supplement and in the documents incorporated by reference in the accompanying prospectus, including Citigroup Inc.'s most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q, which describe risks relating to the business of Citigroup Inc. more generally.

▪ **You may not receive any return on your investment in the notes.** You will receive a positive return on your investment in the
notes only if the basket appreciates from the initial basket level to the final basket level. If the final basket level is equal to or
less than the initial basket level, you will receive only the stated principal amount for each note you hold at maturity. As the notes
do not pay any interest, even if the basket appreciates from the initial basket level to the final basket level, there is no assurance
that your total return at maturity on the notes will be as great as could have been achieved on conventional debt securities of ours of
comparable maturity.

▪ **The notes do not pay interest.** Unlike conventional debt securities, the notes do not pay interest or any other amounts prior
to maturity. You should not invest in the notes if you seek current income during the term of the notes.

▪ **Your potential return on the notes is limited.** Your potential total return on the notes at maturity is limited to the maximum
return at maturity of 29.80%, which is equivalent to a maximum return at maturity of $298.00 per note. Any increase in the final basket
level over the initial basket level by more than 29.80% will not increase your return on 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 if the basket declines or does not appreciate sufficiently from the initial basket level to the final basket level.** This is because inflation may cause the real value of the stated principal amount to be less at maturity than it is
at the time you invest, and because an investment in the notes represents a forgone opportunity to invest in an alternative asset that
does generate a positive real return. This potential loss in real value terms is significant given the term of the notes. You should carefully
consider whether an investment that may not provide for any return on your investment, or may provide a return that is lower than the
return on alternative investments, is appropriate for you.

▪ **Investing in the notes is not equivalent to investing in the basket components.** You will not have voting rights, rights to
receive dividends or other distributions or any other rights with respect to the basket components or the securities included in the basket
components.

▪ **Your payment at maturity depends on the closing levels of the basket components on a single day.** Because your payment at maturity
depends on the closing levels of the basket components solely on the valuation date, you are subject to the risk that the closing levels
on that day may be lower, and possibly significantly lower, than on one or more other dates during the term of the notes. If you had invested
in another instrument linked to the basket components that you could sell for full value at a time selected by you, or if the payment
at maturity were based on an average of closing levels of the basket components, you might have achieved better returns.

▪ **The notes are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc.** If we default on our
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.** The notes will
not be listed on any securities exchange. Therefore, there may be little or no secondary market for the notes. CGMI currently intends
to make a secondary market in relation to the notes and to provide an indicative bid price for the notes on a daily basis. Any indicative
bid price for the notes provided by CGMI will be determined in CGMI's sole discretion, taking into account prevailing market conditions
and other relevant factors, and will not be a representation by CGMI that the notes can be sold at that price, or at all. CGMI may suspend
or terminate making a market and providing indicative bid prices without notice, at any time and for any reason. If CGMI suspends or terminates
making a market, there may be no secondary market at all for the notes because it is likely that CGMI will be the only broker-dealer that
is willing to buy your notes prior to maturity. Accordingly, an investor must be prepared to hold the notes until maturity.

▪ **Sale of the notes prior to maturity may result in a loss of principal.** You will be entitled to receive at least the full stated
principal amount of your notes, subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc., only if you

April 2026 PS-5

<u>Citigroup Global Markets Holdings Inc.</u> <br> <u>3,222 Market-Linked Notes Based on a Basket of Two Equity Indices Due April 30, 2030</u> <br>

hold the notes to maturity. The value of the notes may fluctuate during the term of the notes, and if you are able to sell your notes prior to maturity, you may receive less than the full stated principal amount of your notes.

▪ **The estimated value of the notes on the pricing date, based on CGMI's proprietary pricing models and our internal funding rate, is less than the issue price.** The difference is attributable to certain costs associated with selling, structuring and hedging
the notes that are included in the issue price. These costs include (i) the selling concessions and structuring fees paid in connection
with the offering of the notes, (ii) hedging and other costs incurred by us and our affiliates in connection with the offering of the
notes and (iii) the expected profit (which may be more or less than actual profit) to CGMI or other of our affiliates in connection with
hedging our obligations under the notes. These costs adversely affect the economic terms of the notes because, if they were lower, the
economic terms of the notes would be more favorable to you. The economic terms of the notes are also likely to be adversely affected by
the use of our internal funding rate, rather than our secondary market rate, to price the notes. See "The estimated value of the
notes would be lower if it were calculated based on our secondary market rate" below.

▪ **The estimated value of the notes was determined for us by our affiliate using proprietary pricing models.** CGMI derived the
estimated value disclosed on the cover page of this pricing supplement from its proprietary pricing models. In doing so, it may have made
discretionary judgments about the inputs to its models, such as the volatility of the basket components, the correlation among those basket
components, dividend yields on the stocks included in the basket components and interest rates. CGMI's views on these inputs may
differ from your or others' views, and as an underwriter in this offering, CGMI's interests may conflict with yours. Both
the models and the inputs to the models may prove to be wrong and therefore not an accurate reflection of the value of the notes. Moreover,
the estimated value of the notes set forth on the cover page of this pricing supplement may differ from the value that we or our affiliates
may determine for the notes for other purposes, including for accounting purposes. You should not invest in the notes because of the estimated
value of the notes. Instead, you should be willing to hold the notes to maturity irrespective of the initial estimated value.

▪ **The estimated value of the notes would be lower if it were calculated based on our secondary market rate.** The estimated value
of the notes included in this pricing supplement is calculated based on our internal funding rate, which is the rate at which we are willing
to borrow funds through the issuance of the notes. Our internal funding rate is generally lower than our secondary market rate, which
is the rate that CGMI will use in determining the value of the notes for purposes of any purchases of the notes from you in the secondary
market. If the estimated value included in this pricing supplement were based on our secondary market rate, rather than our internal funding
rate, it would likely be lower. We determine our internal funding rate based on factors such as the costs associated with the notes, which
are generally higher than the costs associated with conventional debt securities, and our liquidity needs and preferences. Our internal
funding rate is not an interest rate that we will pay to investors in the notes, which do not bear interest.

Because there is not an active market for traded instruments referencing our outstanding debt obligations, CGMI determines our secondary market rate based on the market price of traded instruments referencing the debt obligations of Citigroup Inc., our parent company and the guarantor of all payments due on the notes, but subject to adjustments that CGMI makes in its sole discretion. As a result, our secondary market rate is not a market-determined measure of our creditworthiness, but rather reflects the market's perception of our parent company's creditworthiness as adjusted for discretionary factors such as CGMI's preferences with respect to purchasing the notes prior to maturity.

▪ **The estimated value of the notes is not an indication of the price, if any, at which CGMI or any other person may be willing to buy the notes from you in the secondary market.** Any such secondary market price will fluctuate over the term of the notes based on
the market and other factors described in the next risk factor. Moreover, unlike the estimated value included in this pricing supplement,
any value of the notes determined for purposes of a secondary market transaction will be based on our secondary market rate, which will
likely result in a lower value for the notes than if our internal funding rate were used. In addition, any secondary market price for
the notes will be reduced by a bid-ask spread, which may vary depending on the aggregate stated principal amount of the notes to be purchased
in the secondary market transaction, and the expected cost of unwinding related hedging transactions. As a result, it is likely that any
secondary market price for the notes will be less than the issue price.

▪ **The value of the notes prior to maturity will fluctuate based on many unpredictable factors.** The value of your notes prior
to maturity will fluctuate based on the levels of the basket components and a number of other factors, including the volatility of the
basket components, the correlation among the basket components, the dividend yields on the stocks included in the basket components, interest
rates generally, the volatility of the exchange rate between the U.S. dollar and the Japanese yen, the correlation between that exchange
rate and the level of the TOPIX<sup>®</sup> Index, the time remaining to maturity and our and/or Citigroup Inc.'s creditworthiness,
as reflected in our secondary market rate. Changes in the level of the basket may not result in a comparable change in the value of your
notes. You should understand that the value of your notes at any time prior to maturity may be significantly less than the issue price.

▪ **Immediately following issuance, any secondary market bid price provided by CGMI, and the value that will be indicated on any brokerage account statements prepared by CGMI or its affiliates, will reflect a temporary upward adjustment.** The

April 2026 PS-6

<u>Citigroup Global Markets Holdings Inc.</u> <br> <u>3,222 Market-Linked Notes Based on a Basket of Two Equity Indices Due April 30, 2030</u> <br>

amount of this temporary upward adjustment will steadily decline to zero over the temporary adjustment period. See "Valuation of the Notes" in this pricing supplement.

▪ **The basket components may offset each other.** The performance of one basket component may not correlate with the performance
of the other basket component. If one of the basket components appreciates, the other basket component may not appreciate as much or may
even depreciate. In such event, the appreciation of one of the basket components may be moderated, wholly offset or more than offset by
lesser appreciation or by depreciation in the value of one or more of the other basket component.

▪ **The basket components may be highly correlated in decline.** The performances of the basket components may become highly correlated
during periods of declining prices. This may occur because of events that have broad effects on markets generally or on the markets that
the basket components track. If the basket components become correlated in decline, the depreciation of one basket component will not
be offset by the performance of the other basket component and, in fact, each basket component may contribute to an overall decline from
the initial basket level to the final basket level.

▪ **The basket components are not equally weighted.** Accordingly, the performance of a basket component with a higher weighting
will influence the performance of the notes to a greater degree than the performance of a basket component with a lower weighting. If
a basket component with a higher weighting performs poorly, its poor performance could negate or diminish the effect on the basket return
of any positive performance by a lower-weighted basket component.

▪ **The TOPIX<sup>®</sup> Index is subject to risks associated with non-U.S. markets.** Investments in securities linked to the
value of non-U.S. stocks involve risks associated with the securities markets in those countries, including risks of volatility in those
markets, governmental intervention in those markets and cross shareholdings in companies in certain countries. Also, there is generally
less publicly available information about companies in some of these jurisdictions than about U.S. companies that are subject to the reporting
requirements of the SEC. Further, non-U.S. companies are generally subject to accounting, auditing and financial reporting standards and
requirements and securities trading rules that are different from those applicable to U.S. reporting companies. The prices of securities
in foreign markets may be affected by political, economic, financial and social factors in those countries, or global regions, including
changes in government, economic and fiscal policies and currency exchange laws. Moreover, the economies in such countries may differ favorably
or unfavorably from the economy of the United States in such respects as growth of gross national product, rate of inflation, capital
reinvestment, resources and self-sufficiency.

▪ **The performance of the TOPIX<sup>®</sup> Index will not be adjusted for changes in the exchange rate between the Japanese yen and the U.S. dollar.** The TOPIX<sup>®</sup> Index is composed of stocks traded in Japanese yen, the value of which may be subject
to a high degree of fluctuation relative to the U.S. dollar. However, the performance of the TOPIX<sup>®</sup> Index and the value
of your notes will not be adjusted for exchange rate fluctuations. If the Japanese yen appreciates relative to the U.S. dollar over the
term of the notes, your return on the notes will underperform an alternative investment that offers exposure to that appreciation in addition
to the change in the level of the TOPIX<sup>®</sup> Index.

▪ **Changes made by the sponsor of a basket component may affect the basket component.** We are not affiliated with the sponsors
of the S&P 500<sup>®</sup> Index or the TOPIX<sup>®</sup> Index. Changes that affect the basket components may affect the
value of your notes. The sponsor of a basket component may add, delete or substitute the securities that constitute the basket component
or make other methodological changes that could affect the level of the basket component. We are not affiliated with any such sponsor
and, accordingly, we have no control over any changes any such sponsor may make. Such changes could be made at any time and could adversely
affect the performance of the basket components and the value of and your payment at maturity on the notes.

▪ **Governmental regulatory actions, such as sanctions, could adversely affect your investment in the notes.** Governmental regulatory
actions, including, without limitation, sanctions-related actions by the U.S. or a foreign government, could prohibit or otherwise restrict
persons from holding the notes or the basket components, or engaging in transactions in them, and any such action could adversely affect
the value of the basket components. These regulatory actions could result in restrictions on the notes and could result in the loss of
a significant portion or all of your initial investment in the notes, including if you are forced to divest the notes due to the government
mandates, especially if such divestment must be made at a time when the value of the notes has declined.

▪ **Our offering of the notes is not a recommendation of the basket or the basket components.** The fact that we are offering the
notes does not mean that we believe that investing in an instrument linked to the basket or any of the basket components is likely to
achieve favorable returns. In fact, as we are part of a global financial institution, our affiliates may have positions (including short
positions) in the stocks included in the basket components or in instruments related to the basket components or such stocks, and may
publish research or express opinions, that in each case are inconsistent with an investment linked to the basket components. These and
other activities of our affiliates may affect the levels of the basket components in a way that has a negative impact on your interests
as a holder of the notes.

▪ **The level of a basket component may be adversely affected by our or our affiliates' hedging and other trading activities.** We have hedged our obligations under the notes through CGMI or other of our affiliates, who have taken positions directly in the stocks
included in the basket components and other financial instruments related to the basket components or such stocks and may adjust such
positions during the term of the notes. Our affiliates also trade the stocks included in the basket components and

April 2026 PS-7

<u>Citigroup Global Markets Holdings Inc.</u> <br> <u>3,222 Market-Linked Notes Based on a Basket of Two Equity Indices Due April 30, 2030</u> <br>

other financial instruments related to the basket components or such stocks on a regular basis (taking long or short positions or both), for their accounts, for other accounts under their management or to facilitate transactions on behalf of customers. These activities could affect the levels of the basket components in a way that negatively affects the value of the notes. They could also result in substantial returns for us or our affiliates while the value of the notes declines.

▪ **We and our affiliates may have economic interests that are adverse to yours as a result of our affiliates' business activities.** Our affiliates may currently or from time to time engage in business with the issuers of the stocks included in the basket components,
including extending loans to, making equity investments in or providing advisory services to such issuers. In the course of this business,
we or our affiliates may acquire non-public information about such issuers, which we will not disclose to you. Moreover, if any of our
affiliates is or becomes a creditor of any such issuer, they may exercise any remedies against such issuer that are available to them
without regard to your interests.

▪ **The calculation agent, which is an affiliate of ours, will make important determinations with respect to the notes.** If certain
events occur, such as market disruption events or the discontinuance of a basket component, CGMI, as calculation agent, will be required
to make discretionary judgments that could significantly affect your payment at maturity. In making these judgments, the calculation agent's
interests as an affiliate of ours could be adverse to your interests as a holder of the notes.

April 2026 PS-8

<u>Citigroup Global Markets Holdings Inc.</u> <br> <u>3,222 Market-Linked Notes Based on a Basket of Two Equity Indices Due April 30, 2030</u> <br>

Hypothetical Historical Information About the Basket

Because the basket exists solely for purposes of the notes, historical information on the performance of the basket does not exist for dates prior to the pricing date. The graph below sets forth the hypothetical historical daily closing levels of the basket for the period from January 4, 2016 to April 24, 2026, assuming that the basket was created on January 4, 2016 with the same basket components and corresponding weights and with a level of 100 on that date. The hypothetical performance of the basket is based on the actual closing levels of the basket components on the applicable dates. We obtained these closing levels from Bloomberg L.P., without independent verification. Any historical trend in the level of the basket during the period shown below is not an indication of the performance of the basket during the term of the notes.

---

| |
|:---|
| **Hypothetical Historical Basket Performance<br> January 4, 2016 to April 24, 2026** |
| ![](image_002.jpg) |

---

April 2026 PS-9

<u>Citigroup Global Markets Holdings Inc.</u> <br> <u>3,222 Market-Linked Notes Based on a Basket of Two Equity Indices Due April 30, 2030</u> <br>

Information About the Basket Components

S&P 500<sup>®</sup> Index

The S&P 500<sup>®</sup> Index consists of the common stocks of 500 issuers selected to provide a performance benchmark for the large capitalization segment of the U.S. equity markets. It is calculated and maintained by S&P Dow Jones Indices LLC. The S&P 500<sup>®</sup> Index is reported by Bloomberg L.P. under the ticker symbol "SPX."

"Standard & Poor's," "S&P" and "S&P 500<sup>®</sup>" are trademarks of Standard & Poor's Financial Services LLC and have been licensed for use by Citigroup Inc. and its affiliates. For more information, see "Equity Index Descriptions—The S&P U.S. Indices—License Agreement" in the accompanying underlying supplement.

Please refer to the section "Equity Index Descriptions—The S&P U.S. Indices—The S&P 500<sup>®</sup> Index" in the accompanying underlying supplement for important disclosures regarding the S&P 500<sup>®</sup> Index.

Historical Information

The closing level of the S&P 500<sup>®</sup> Index on April 24, 2026 was 7,165.08.

The graph below shows the closing levels of the S&P 500<sup>®</sup> Index for each day such level was available from January 4, 2016 to April 24, 2026. We obtained the closing levels from Bloomberg L.P., without independent verification. You should not take the historical levels of the S&P 500<sup>®</sup> Index as an indication of future performance.

---

| |
|:---|
| **S&P 500<sup>®</sup> Index – Historical Closing Levels<br> January 4, 2016 to April 24, 2026** |
| ![](image_003.jpg) |

---

April 2026 PS-10

<u>Citigroup Global Markets Holdings Inc.</u> <br> <u>3,222 Market-Linked Notes Based on a Basket of Two Equity Indices Due April 30, 2030</u> <br>

TOPIX<sup>®</sup> Index

The TOPIX<sup>®</sup> Index tracks the Tokyo Stock Exchange and is a commonly used statistical indicator of trends in the Japanese stock market. It comprises all domestic common stocks listed on the TSE First Section. Stocks listed on the TSE First Section are generally large companies with longer established and more actively traded issues. The TOPIX<sup>®</sup> Index is calculated and maintained by the Tokyo Stock Exchange. The TOPIX<sup>®</sup> Index is reported by Bloomberg L.P. under the ticker symbol "TPX."

The TOPIX<sup>®</sup> Trademarks, including "TOPIX<sup>®</sup>" and "TOPIX<sup>®</sup> Index," are subject to the intellectual property rights owned by the Tokyo Stock Exchange, Inc., and have been licensed for use by Citigroup Global Markets Inc. and its affiliates. For more information, see "Equity Index Descriptions—The TOPIX<sup>®</sup> Index—License Agreement" in the accompanying underlying supplement.

Please refer to the section "Equity Index Descriptions—The TOPIX<sup>®</sup> Index" in the accompanying underlying supplement for important disclosures regarding the TOPIX<sup>®</sup> Index.

Historical Information

The closing level of the TOPIX<sup>®</sup> Index on April 24, 2026 was 3,716.59.

The graph below shows the closing levels of the TOPIX<sup>®</sup> Index for each day such level was available from January 4, 2016 to April 24, 2026. We obtained the closing levels from Bloomberg L.P., without independent verification. You should not take the historical levels of the TOPIX<sup>®</sup> Index as an indication of future performance.

---

| |
|:---|
| **TOPIX<sup>®</sup> Index – Historical Closing Levels**<br> **January 4, 2016 to April 24, 2026** |
| ![](image_004.jpg) |

---

April 2026 PS-11

<u>Citigroup Global Markets Holdings Inc.</u> <br> <u>3,222 Market-Linked Notes Based on a Basket of Two Equity Indices Due April 30, 2030</u> <br>

United States Federal Tax Considerations

In the opinion of our counsel, Davis Polk & Wardwell LLP, which is based on current market conditions, the notes should be treated as "contingent payment debt instruments" for U.S. federal income tax purposes, as described in the section of the accompanying product supplement called "United States Federal Tax Considerations—Tax Consequences to U.S. Holders—Notes Treated as Contingent Payment Debt Instruments," and the remaining discussion is based on this treatment.

If you are a U.S. Holder (as defined in the accompanying product supplement), you will be required to recognize interest income during the term of the notes at the "comparable yield," which generally is the yield at which we could issue a fixed-rate debt instrument with terms similar to those of the notes, including the level of subordination, term, timing of payments and general market conditions, but excluding any adjustments for the riskiness of the contingencies or the liquidity of the notes. We are required to construct a "projected payment schedule" in respect of the notes representing a payment the amount and timing of which would produce a yield to maturity on the notes equal to the comparable yield. Assuming you hold the notes until their maturity, the amount of interest you include in income based on the comparable yield in the taxable year in which the notes mature will be adjusted upward or downward to reflect the difference, if any, between the actual and projected payment on the notes at maturity as determined under the projected payment schedule.

Upon the sale, exchange or retirement of the notes prior to maturity, you generally will recognize gain or loss equal to the difference between the proceeds received and your adjusted tax basis in the notes. Your adjusted tax basis will equal your purchase price for the notes, increased by interest previously included in income on the notes. Any gain generally will be treated as ordinary income, and any loss generally will be treated as ordinary loss to the extent of prior interest inclusions on the note and as capital loss thereafter.

We have determined that the comparable yield for a note is a rate of 4.450%, compounded semi-annually, and that the projected payment schedule with respect to a note consists of a single payment of $1,192.624 at maturity.

**Neither the comparable yield nor the projected payment schedule constitutes a representation by us regarding the actual amount that we will pay on the notes.**

**Non-U.S. Holders.** Subject to the discussions below regarding Section 871(m) and in "United States Federal Tax Considerations—Tax Consequences to Non-U.S. Holders" and "—FATCA" in the accompanying product supplement, if you are a Non-U.S. Holder (as defined in the accompanying product supplement) of the notes, under current law you generally will not be subject to U.S. federal withholding or income tax in respect of any payment on or any amount received on the sale, exchange or retirement of the notes, provided that (i) income in respect of the notes is not effectively connected with your conduct of a trade or business in the United States, and (ii) you comply with the applicable certification requirements. See "United States Federal Tax Considerations—Tax Consequences to Non-U.S. Holders" in the accompanying product supplement for a more detailed discussion of the rules applicable to Non-U.S. Holders of the notes.

As discussed under "United States Federal Tax Considerations—Tax Consequences to Non-U.S. Holders—Dividend Equivalents Under Section 871(m) of the Code" in the accompanying product supplement, Section 871(m) of the Internal Revenue Code of 1986, as amended, and Treasury regulations promulgated thereunder ("Section 871(m)") generally impose a 30% withholding tax on dividend equivalents paid or deemed paid to Non-U.S. Holders with respect to certain financial instruments linked to U.S. equities ("Underlying Securities") or indices that include Underlying Securities. Section 871(m) generally applies to instruments that substantially replicate the economic performance of one or more Underlying Securities, as determined based on tests set forth in the applicable Treasury regulations. However, the regulations, as modified by an Internal Revenue Service ("IRS") notice, exempt financial instruments issued prior to January 1, 2027 that do not have a "delta" of one. Based on the terms of the notes and representations provided by us, our counsel is of the opinion that the notes should not be treated as transactions that have a "delta" of one within the meaning of the regulations with respect to any Underlying Security and, therefore, should not be subject to withholding tax under Section 871(m).

A determination that the notes are not subject to Section 871(m) is not binding on the IRS, and the IRS may disagree with this treatment. Moreover, Section 871(m) is complex and its application may depend on your particular circumstances, including your other transactions. You should consult your tax adviser regarding the potential application of Section 871(m) to the notes.

If withholding tax applies to the notes, we will not be required to pay any additional amounts with respect to amounts withheld.

**You should read the section entitled "United States Federal Tax Considerations" in the accompanying product supplement. The preceding discussion, when read in combination with that section, constitutes the full opinion of Davis Polk & Wardwell LLP regarding the material U.S. federal tax consequences of owning and disposing of the notes.** 

**You should also consult your tax adviser regarding all aspects of the U.S. federal tax consequences of an investment in the notes and any tax consequences arising under the laws of any state, local or non-U.S. taxing jurisdiction.**

April 2026 PS-12

<u>Citigroup Global Markets Holdings Inc.</u> <br> <u>3,222 Market-Linked Notes Based on a Basket of Two Equity Indices Due April 30, 2030</u> <br>

Supplemental Plan of Distribution

CGMI, an affiliate of Citigroup Global Markets Holdings Inc. and the underwriter of the sale of the notes, is acting as principal and will receive an underwriting fee of $30.00 for each $1,000 note sold in this offering. From this underwriting fee, CGMI will pay selected dealers not affiliated with CGMI, including Morgan Stanley Wealth Management and their financial advisors collectively, a fixed selling concession of $25.00 for each $1,000 note they sell. In addition, Morgan Stanley Wealth Management will receive a structuring fee of $5.00 for each note they sell.

The costs included in the original issue price of the securities will include a fee paid by CGMI to LFT Securities, LLC, an entity in which an affiliate of Morgan Stanley Wealth Management has an ownership interest, for providing certain electronic platform services with respect to this offering.

See "Plan of Distribution; Conflicts of Interest" in the accompanying product supplement and "Plan of Distribution" in each of the accompanying prospectus supplement and prospectus for additional information.

Valuation of the Notes

CGMI calculated the estimated value of the notes set forth on the cover page of this pricing supplement based on proprietary pricing models. CGMI's proprietary pricing models generated an estimated value for the notes by estimating the value of a hypothetical package of financial instruments that would replicate the payout on the notes, which consists of a fixed-income bond (the "bond component") and one or more derivative instruments underlying the economic terms of the notes (the "derivative component"). CGMI calculated the estimated value of the bond component using a discount rate based on our internal funding rate. CGMI calculated the estimated value of the derivative component based on a proprietary derivative-pricing model, which generated a theoretical price for the instruments that constitute the derivative component based on various inputs, including the factors described under "Summary Risk Factors—The value of the notes prior to maturity will fluctuate based on many unpredictable factors" in this pricing supplement, but not including our or Citigroup Inc.'s creditworthiness. These inputs may be market-observable or may be based on assumptions made by CGMI in its discretionary judgment.

For a period of approximately three months following issuance of the notes, the price, if any, at which CGMI would be willing to buy the notes from investors, and the value that will be indicated for the notes on any brokerage account statements prepared by CGMI or its affiliates (which value CGMI may also publish through one or more financial information vendors), will reflect a temporary upward adjustment from the price or value that would otherwise be determined. This temporary upward adjustment represents a portion of the hedging profit expected to be realized by CGMI or its affiliates over the term of the notes. The amount of this temporary upward adjustment will decline to zero on a straight-line basis over the three-month temporary adjustment period. However, CGMI is not obligated to buy the notes from investors at any time. See "Summary Risk Factors—The notes will not be listed on any securities exchange and you may not be able to sell them prior to maturity."

Validity of the Notes

In the opinion of Davis Polk & Wardwell LLP, as special products counsel to Citigroup Global Markets Holdings Inc., when the notes offered by this pricing supplement have been executed and issued by Citigroup Global Markets Holdings Inc. and authenticated by the trustee pursuant to the indenture, and delivered against payment therefor, such notes and the related guarantee of Citigroup Inc. will be valid and binding obligations of Citigroup Global Markets Holdings Inc. and Citigroup Inc., respectively, enforceable in accordance with their respective terms, subject to applicable bankruptcy, insolvency and similar laws affecting creditors' rights generally, concepts of reasonableness and equitable principles of general applicability (including, without limitation, concepts of good faith, fair dealing and the lack of bad faith), provided that such counsel expresses no opinion as to (x) the effect of fraudulent conveyance, fraudulent transfer or similar provision of applicable law on the conclusions expressed above or (y) the validity, legally binding effect or enforceability of any provision that permits holders to collect any portion of the stated principal amount upon acceleration of the notes to the extent determined to constitute unearned interest. This opinion is given as of the date of this pricing supplement and is limited to the laws of the State of New York and the General Corporation Law of the State of Delaware, except that such counsel expresses no opinion as to (i) any law, rule or regulation that is applicable to Citigroup Global Markets Holdings Inc. or Citigroup Inc., the indenture, the notes, the related guarantee (together with the indenture and the notes, the "Documents") or such transactions solely because such law, rule or regulation is part of a regulatory regime applicable to any party to any of the Documents or any of its affiliates due to the specific assets or business of such party or such affiliate or (ii) any law, rule or regulation relating to national security.

In addition, this opinion is subject to the assumptions set forth in the letter of Davis Polk & Wardwell LLP dated February 25, 2026, which has been filed as an exhibit to the Registration Statement on Form S-3 by Citigroup Global Markets Holdings Inc. and Citigroup Inc. on February 25, 2026, that the Documents have been duly authorized, executed, authenticated (if applicable) and delivered by, and are each a valid, binding and enforceable agreement of, each party thereto (other than as expressly covered above in respect of Citigroup Global Markets Holdings Inc. and Citigroup Inc.) and that the terms of the notes and the issuance, execution, delivery and performance by Citigroup Global Markets Holdings Inc. and Citigroup Inc. of the notes and the related guarantee do not contravene, or constitute a default under, any judgment, injunction, order or decree or any agreement or other instrument binding upon Citigroup Global Markets Holdings Inc. or Citigroup Inc.© 2026 Citigroup Global Markets Inc. All rights reserved. Citi and Citi and Arc Design are trademarks and service marks of Citigroup Inc. or its affiliates and are used and registered throughout the world.

April 2026 PS-13

## Ex-Filing

?xml version='1.0' encoding='ASCII'? Filing Fee Exhibit

**Ex-Filing Fees**

**CALCULATION OF FILING FEE TABLES**

**S-3**

**Citigroup Global Markets Holdings Inc.**

**Citigroup Inc., as Guarantor**

**Table 1: Newly Registered and Carry Forward Securities**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Line Item Type** | **Security Type** | **Security Class Title** | **Notes** | **Fee Calculation<br> Rule** | **Amount Registered** | **Proposed Maximum Offering<br> Price Per Unit** | **Maximum Aggregate Offering Price** | **Fee Rate** | **Amount of Registration Fee** |
| *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* |
| Fees to be Paid | Debt | Citigroup Global Markets Holdings Inc. Medium-Term Senior Notes, Series N | (1) | 457(r) | 3222 | $1000 | $3222000 | 0.0001381 | $444.96 |
| Fees to be Paid | Other | Citigroup Inc. Guarantee of Medium-Term Senior Notes, Series N | (2) | Other | 0 | $0.00 | $0.00 | 0.0001381 | $0.00 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | $3222000 |  | 444.96 |
| Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: |  |  | 0.00 |
| Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: |  |  | 0.00 |
| Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: |  |  | $444.96 |

---

**__________________________________________ Offering Note(s)**

&nbsp;&nbsp;&nbsp;&nbsp;(1) The filing fee paid with this filing pursuant to Rule 457(r) under the Securities Act of 1933, as amended (the "Securities Act"), was originally deferred in accordance with Rule 456(b) under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;(2) No separate consideration will be received for the guarantee, and pursuant to Rule 457(n) under the Securities Act, no separate registration fee is payable.

**Narrative Disclosure**

The maximum aggregate offering price of the securities to which the prospectus relates is $3,222,000. The prospectus is a final prospectus for the related offering.