[{"_1":2,"_3":-5,"_4":-5},"loaderData",{"_5":6,"_7":8},"actionData","errors","root",{"_96":97},"routes/item",{"_9":10},"item",{"_11":12,"_13":14,"_15":16,"_17":18,"_19":20,"_21":-5,"_22":23,"_24":25,"_26":27,"_28":29,"_30":29,"_31":32,"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":-5,"_46":47,"_48":-5,"_49":-5,"_50":51,"_52":53,"_54":55,"_56":57,"_58":57,"_59":60,"_61":40,"_62":63},"id","p3iddsjw5mzg19voofkvq7xy1","revision",2,"title","花旗集团 VanEck Gold Miners ETF 挂钩自动赎回证券定价补充文件","originalTitle","CITIGROUP INC (0000831001) (Filer)","summary","花旗集团发行与 VanEck Gold Miners ETF 挂钩、2029年11月1日到期的自动赎回本金风险证券，每份面值1,000美元，发行价1,000美元，发行日估值为964.20美元。","reason","source",{"_11":86,"_87":88,"_89":90,"_91":57,"_92":93,"_94":95},"links",{"_83":84,"_63":85},"publishedAt","2026-11-02T22:12:48.000Z","discoveredAt","2026-11-02T23:56:18.265Z","timelineAt","category","ai-products","tags",[81,82],"stockSymbols",[80],"score",40,"selected",false,"channel","news","story",{"_72":73,"_15":74},"x","readingMode","full","author","language","body",{"_76":-5,"_63":77,"_78":-5,"_79":40},"outline",[],"relatedStories",[75],"indexable",true,"markdownAvailable","group",{"_64":65,"_43":66,"_67":68,"_69":70,"_71":70},"hasTranslation","bodyLanguage","original","factId","fZ6ZAAJy6iVs",{"_72":73,"_15":74},"reportCount",1,"additionalSourceCount",0,"developmentCount","publicId","24648b0d-1ef4-4338-8c89-74bebdd11b0c","花旗发行挂钩金矿股ETF的自动赎回证券",{"_72":73,"_15":74},"zh","\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

	Filed\n Pursuant to Rule 424(b)(2) \n Registration\n Statement Nos. 333-293732 and 333-293732-02
October 29, 2026 \n \n Medium-Term Senior\n Notes, Series N \n \n Pricing Supplement\n No. 2026-USNCH34396 to Product Supplement No. EA-08-03 \n dated February 25, 2026 and \n Prospectus Supplement and Prospectus each dated February 25, 2026	$\"citi_logo_Blue\"$

\n Citigroup Global Markets Holdings\n Inc. \n \n All Payments Due from Citigroup\n Global Markets Holdings Inc. Fully and Unconditionally Guaranteed by Citigroup Inc. \n
\n Market Linked Securities—Auto-Callable with\n Fixed Percentage Buffered Downside \n \n Principal at Risk Securities Linked to the VanEck^®\n Gold Miners ETF due November 1, 2029 \n

\n n Linked\n to the VanEck^® Gold Miners ETF (the “underlying”) \n \n n Unlike\n ordinary debt securities, the securities do not pay interest or repay a fixed amount of principal at maturity and are subject to potential\n automatic early redemption upon the terms described below. Whether the securities are automatically called for a fixed call premium or,\n if not automatically called, the maturity payment amount, will depend, in each case, on the performance of the underlying. \n \n n Automatic\n Call. If the closing value of the underlying on any call date (including the final calculation day) is greater than or equal to the\n starting value, the securities will be automatically called for redemption for an amount in cash equal to the stated principal amount\n plus the call premium applicable to that call date. The call premium applicable to each call date will be a percentage of the stated principal\n amount that increases for each call date based on a simple (non-compounding) return of 22.00% per annum. \n \n n Maturity\n Payment Amount. If the securities are not automatically called for redemption, you will receive a maturity payment amount that could\n be equal to or less than the stated principal amount, depending on the ending value of the underlying as follows: \n \n n If\n the ending value is less than the starting value but not by more than 10% (the “buffer amount”), you will be repaid the stated\n principal amount. \n \n n If\n the ending value is less than the starting value by more than the buffer amount, you will receive less than the stated principal amount\n and have 1-to-1 downside exposure to the decrease in the value of the underlying in excess of the buffer amount. \n \n n Investors\n may lose up to 90% of the stated principal amount. \n \n n Any\n positive return on the securities will be limited to the applicable call premium, even if the closing value of the underlying on the applicable\n call date significantly exceeds the starting value. You will not participate in any appreciation of the underlying beyond the applicable\n call premium. \n \n n All\n payments on the securities are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc.; if Citigroup Global\n Markets Holdings Inc. and Citigroup Inc. default on their obligations, you could lose some or all of your investment. \n \n n No\n periodic interest payments or dividends. \n \n n The\nsecurities will not be listed on any securities exchange and, accordingly, may have limited or no liquidity. You should not\ninvest in the securities unless you are willing to hold them to maturity.

The securities have complex features and investing\nin the securities involves risks not associated with an investment in conventional debt securities. See “Summary Risk Factors”\nbeginning on page PS-7 and “Risk Factors” beginning on page PS-5 of the accompanying product supplement and beginning on page\nS-1 of the accompanying prospectus supplement.

Neither the Securities and Exchange Commission\n(the “SEC”) nor any state securities commission has approved or disapproved of the securities or determined that this pricing\nsupplement or the accompanying product supplement, prospectus supplement and prospectus are truthful or complete. Any representation to\nthe contrary is a criminal offense.

The securities are unsecured debt obligations\nissued by Citigroup Global Markets Holdings Inc. and guaranteed by Citigroup Inc. All payments due on the securities are subject\nto the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc. None of Wells Fargo Securities, LLC (“Wells\nFargo”) or any of its affiliates will have any liability to the purchasers of the securities in the event Citigroup Global Markets\nHoldings Inc. defaults on its obligations under the securities and Citigroup Inc. defaults on its guarantee obligations. The\nsecurities are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental\nagency, nor are they obligations of, or guaranteed by, a bank.

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

	Per Security	Total
Public Offering Price⁽¹⁾	$1,000.00	$4,501,000.00
Underwriting Discount and Commission⁽²⁾⁽³⁾	$25.75	$115,900.75
Proceeds to Citigroup Global Markets Holdings Inc.⁽²⁾	$974.25	$4,385,099.25

(1) On the date of\nthis pricing supplement, the estimated value of the securities is $964.20 per security, which is less than the public offering price. The\nestimated value of the securities is based on Citigroup Global Markets Inc.’s (“CGMI”) proprietary pricing models and\nour 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\nprice, if any, at which any person may be willing to buy the securities from you at any time after issuance. See “Valuation\nof the Securities” in this pricing supplement.

(2) CGMI, an affiliate\nof Citigroup Global Markets Holdings Inc., as the lead agent for the offering, has agreed to sell the securities to Wells Fargo, as agent.\nWells Fargo will receive an underwriting discount and commission of 2.575% ($25.75) for each security it sells. Wells Fargo may pay selected\ndealers, which may include Wells Fargo Advisors (“WFA”) (the trade name of the retail brokerage business of its affiliates,\nWells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC), a fixed selling commission of 2.00% ($20.00) for\neach security they sell. In addition to the selling commission allowed to WFA, Wells Fargo may pay $0.75 per security of the\nunderwriting discount and commission to WFA as a distribution expense fee for each security sold by WFA. The total underwriting discount\nand commission and proceeds to Citigroup Global Markets Holdings Inc. shown above give effect to the actual underwriting discount and\ncommission provided for the sale of the securities. See “Supplemental Plan of Distribution” below and “Use\nof Proceeds and Hedging” in the accompanying prospectus for further information regarding how we have hedged our obligations under\nthe securities. In addition, CGMI will pay to one or more electronic platform providers a fee of $0.60 for each security sold in this\noffering where related selected dealers and/or custodians implement or utilize such providers.

(3)\nIn respect of certain securities sold in this offering, CGMI may pay a fee of up to $2.00 per security to selected securities dealers\nin consideration for marketing and other services in connection with the distribution of the securities to other securities dealers.

\n \n \n \n

Citigroup Global Markets Inc.

Wells Fargo Securities

\n \n \n \n

Market Linked Securities—Auto-Callable with\n Fixed Percentage Buffered Downside

\n \n

Principal at Risk Securities Linked to the VanEck^®\nGold Miners ETF due November 1, 2029

$\"citi_logo_Blue\"$

\n \n \n

Terms of the Securities

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

Underlying:	The VanEck^® Gold Miners ETF
Issuer:	Citigroup Global Markets Holdings Inc., a wholly owned subsidiary of Citigroup Inc.
Guarantee:	All payments due on the securities are fully and unconditionally guaranteed by Citigroup Inc.
Stated Principal Amount:	$1,000 per security. References in this pricing supplement to a “security” are to a security with a stated principal amount of $1,000.
Pricing Date:	October 29, 2026
Issue Date:	November 3, 2026
Maturity Date:	November 1, 2029, subject to postponement as described in the accompanying product supplement.
Automatic Call:	\n If the closing value of the underlying\n on any call date (including the final calculation day) is greater than or equal to the starting value, the securities will be automatically\n called for redemption on the related call settlement date for an amount in cash per security equal to $1,000 plus the call premium\n applicable to that call date. \n \n Any positive return on the securities\n will be limited to the applicable call premium, even if the closing value of the underlying on the applicable call date significantly\n exceeds the starting value. You will not participate in any appreciation of the underlying beyond the applicable call premium. \n \n If the securities are automatically\ncalled for redemption, they will cease to be outstanding on the related call settlement date and you will have no further rights under\nthe securities after such call settlement date. You will not receive any notice from us if the securities are automatically\ncalled.

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

	The call premium applicable to each call date is indicated below.
	Call Date	Call Premium
	November 3, 2027	22.00% of the stated principal amount
Call Dates and Call Premiums:	November 3, 2028	44.00% of the stated principal amount
	October 29, 2029 (the “final calculation day”)	66.00% of the stated principal amount
	Each call date is subject to postponement if such date is not a trading day or certain market disruption events occur as described in the accompanying product supplement. For purposes of the accompanying product supplement, each call date is a “calculation day.”

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

Call Settlement Dates:	For any call date, the third business day after such call date, except that the call settlement date for the final calculation day shall be the maturity date. For purposes of the accompanying product supplement, each call settlement date is a “payment date.”
Maturity Payment Amount:	\n If the securities are not automatically\n called for redemption prior to or at maturity, you will receive a maturity payment amount for each $1,000 stated principal amount security\n you hold at maturity: \n \n •\t If\n the ending value is less than the starting value, but greater than or equal to the threshold value: $1,000; or \n \n •\t If\n the ending value is less than the threshold value: \n \n $1,000 + [$1,000\n × (underlying return + buffer amount)] \n \n If the securities are not automatically\ncalled for redemption prior to or at maturity and the ending value is less than the threshold value, you will have 1-to-1 downside exposure\nto the decrease in the value of the underlying in excess of the buffer amount and will lose some, and possibly up to 90%, of the stated\nprincipal amount of your securities at maturity.
Threshold Value:	$73.197, 90% of the starting value
Buffer Amount:	10%
Starting Value:	$81.33, the closing value of the underlying on the pricing date

PS-2

Market Linked Securities—Auto-Callable with Fixed Percentage Buffered Downside

Principal at Risk Securities Linked to the VanEck^® Gold Miners ETF due November 1, 2029

$\"citi_logo_Blue\"$

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

Ending Value:	The closing value of the underlying on the final calculation day
Underlying Return:	(ending value – starting value) / starting value
Calculation Agent:	CGMI
Denominations:	$1,000 and any integral multiple of $1,000
CUSIP / ISIN:	17334DMA7 / US17334DMA71

PS-3

Market Linked Securities—Auto-Callable with Fixed Percentage Buffered Downside

Principal at Risk Securities Linked to the VanEck^® Gold Miners ETF due November 1, 2029

$\"citi_logo_Blue\"$

\n \n \n

Additional\n Information

The terms of the securities are set forth in the\naccompanying product supplement, prospectus supplement and prospectus, as supplemented by this pricing supplement. The accompanying\nproduct supplement, prospectus supplement and prospectus contain important disclosures that are not repeated in this pricing supplement. For\nexample, the accompanying product supplement contains important information about how the closing value of the underlying will be determined\nand other specified events with respect to the underlying. It is important that you read the accompanying product supplement,\nprospectus supplement and prospectus together with this pricing supplement in connection with your investment in the securities. Certain\nterms used but not defined in this pricing supplement are defined in the accompanying product supplement.

When we refer to “we,” “us”\nand “our” in this pricing supplement, we refer only to Citigroup Global Markets Holdings Inc. and not to any of its affiliates,\nincluding Citigroup Inc.

You may access the product supplement, prospectus\nsupplement and prospectus on the SEC website www.sec.gov as follows (or if such address has changed, by reviewing our filings for the\nrelevant date on the SEC website):

Product Supplement No. EA-08-03 dated February 25, 2026:
\nhttps://www.sec.gov/Archives/edgar/data/200245/000095010326002652/dp241934_424b2-wf0803.htm

Prospectus Supplement and Prospectus, each dated February 25, 2026:
\nhttps://www.sec.gov/Archives/edgar/data/200245/000119312526071985/d53413d424b2.htm

PS-4

Market Linked Securities—Auto-Callable with Fixed Percentage Buffered Downside

Principal at Risk Securities Linked to the VanEck^® Gold Miners ETF due November 1, 2029

$\"citi_logo_Blue\"$

\n \n \n

Investor\n Considerations

The securities are not appropriate for all\ninvestors. The securities may be an appropriate investment for investors who:

seek the potential for a fixed return if the underlying has appreciated at all as of any call date in\nlieu of full participation in any potential appreciation of the underlying;

if the securities are not automatically called for redemption prior to or at maturity, desire to limit\nthe downside exposure to the underlying through the buffer amount;

understand that if the closing value of the underlying is less than the starting value on each call date,\nthey will not receive any positive return on their investment in the securities, and that if the ending value is less than the starting\nvalue by more than the buffer amount, they will receive less, and possibly significantly less, than the stated principal amount per security\nat maturity;

understand that the term of the securities may be limited by the automatic call feature of the securities\nand that they will not receive a higher call premium payable with respect to a later call date if the securities are automatically called\nfor redemption on an earlier call date;

are willing to forgo interest payments on the securities and dividends on securities included in the underlying;\nand

are willing to hold the securities to maturity.

The securities may not be an appropriate investment\nfor investors who:

seek a liquid investment or are unable or unwilling to hold the securities to maturity;

seek a security with a fixed term;

are unwilling to accept the risk that, if the closing value of the underlying is less than the starting\nvalue on each call date, they will not receive any positive return on their investment in the securities;

are unwilling to accept the risk that, if the securities are not automatically called for redemption prior\nto or at maturity and the ending value is less than the threshold value, they will receive less, and possibly significantly less, than\nthe stated principal amount at maturity;

are unwilling to accept the risk that the value of the underlying may decrease by more than the buffer\namount from the starting value to the ending value;

seek exposure to the upside performance of the underlying beyond the applicable call premiums;

seek full return of the stated principal amount of the securities at maturity;

seek current income;

are unwilling to purchase securities with the estimated value set forth on the cover page;

are unwilling to accept the risk of exposure to the underlying;

seek exposure to the underlying but are unwilling to accept the risk/return trade-offs inherent in the\nterms of the securities;

are unwilling to accept the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc.;\nor

prefer the lower risk of fixed income investments with comparable maturities issued by companies with\ncomparable credit ratings.

The considerations identified above are not\nexhaustive. Whether or not the securities are an appropriate investment for you will depend on your individual circumstances, and you\nshould reach an investment decision only after you and your investment, legal, tax, accounting and other advisors have carefully considered\nthe appropriateness of an investment in the securities in light of your particular circumstances. You should also review carefully the\n“Summary Risk Factors” herein and the “Risk Factors” in the accompanying product supplement for risks related\nto an investment in the securities. For more information about the underlying, please see the information provided below.

PS-5

Market Linked Securities—Auto-Callable with Fixed Percentage Buffered Downside

Principal at Risk Securities Linked to the VanEck^® Gold Miners ETF due November 1, 2029

$\"citi_logo_Blue\"$

\n \n \n

Determining\n Timing and Amount of Payment on the Securities

Whether the securities are automatically called\nfor redemption on any call date (including the final calculation day) will be determined based on the closing value of the underlying\non the applicable call date as follows:

$\"\"$

If the securities are not automatically called\nfor redemption prior to or at maturity, on the maturity date, you will receive a cash payment per security (the maturity payment amount)\ncalculated as follows:

$\"\"$

PS-6

Market Linked Securities—Auto-Callable with Fixed Percentage Buffered Downside

Principal at Risk Securities Linked to the VanEck^® Gold Miners ETF due November 1, 2029

$\"citi_logo_Blue\"$

\n \n \n

Summary\n Risk Factors

An investment in the securities is significantly\nriskier than an investment in conventional debt securities. The securities are subject to all of the risks associated with\nan investment in our conventional debt securities (guaranteed by Citigroup Inc.), including the risk that we and Citigroup Inc. may default\non our obligations under the securities, and are also subject to risks associated with the underlying. Accordingly, the securities\nare appropriate only for investors who are capable of understanding the complexities and risks of the securities. You should\nconsult your own financial, tax and legal advisors as to the risks of an investment in the securities and the appropriateness of the securities\nin light of your particular circumstances.

The following is a summary of certain key risk\nfactors for investors in the securities. You should read this summary together with the more detailed description of risks\nrelating to an investment in the securities contained in the section “Risk Factors” beginning on page PS-5 in the accompanying\nproduct supplement. You should also carefully read the risk factors included in the accompanying prospectus supplement and\nin the documents incorporated by reference in the accompanying prospectus, including Citigroup Inc.’s most recent Annual Report\non 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 Lose A Significant\nPortion Of Your Investment.

Unlike conventional debt securities,\nthe securities do not repay a fixed amount of principal at maturity. Instead, if the securities are not automatically called for redemption\nprior to or at maturity, your maturity payment amount will depend on the performance of the underlying. If the securities are not automatically\ncalled for redemption prior to or at maturity and the underlying depreciates by more than the buffer amount such that the ending value\nis less than the threshold value, you will lose 1% of the stated principal amount of the securities for every 1% by which that depreciation\nexceeds the buffer amount.

The Securities Do Not Pay\nInterest.

Unlike conventional debt securities, the securities\ndo not pay interest. You should not invest in the securities if you seek current income during the term of the securities.

Your Potential Return On The Securities Is\nLimited.

Your potential return on the securities is limited\nto the applicable call premium payable upon automatic call. If the closing value of the underlying on one of the call dates is greater\nthan or equal to the starting value, you will be repaid the stated principal amount of your securities and will receive the fixed call\npremium applicable to that call date, regardless of how significantly the closing value of the underlying on that call date may exceed\nthe starting value. Accordingly, any call premium may result in a return on the securities that is significantly less than\nthe return you could have achieved on a direct investment in the underlying.

Higher Call Premiums Are Associated With Greater\nRisk.

The securities offer the potential to receive\na call premium that reflects a per annum rate that would produce a yield that is generally higher than the yield on our conventional debt\nsecurities of the same maturity. This higher potential yield is associated with greater levels of expected risk as of the pricing date\nfor the securities, including the risk that the securities will not be automatically called for redemption and the value of what you receive\nat maturity may be significantly less than the stated principal amount of your securities and may be zero. The volatility of the underlying\nis an important factor affecting these risks. Greater expected volatility of the underlying as of the pricing date may result in a higher\ncall premium, but would also represent a greater expected likelihood as of the pricing date that (i) the closing value of the underlying\non one or more call dates will be less than the starting value, such that you will not receive any call premium, and (ii) the securities\nwill not be automatically called for redemption and the ending value will be less than the threshold value, such that you will not be\nrepaid the stated principal amount of your securities at maturity.

The Securities May Be Automatically Called\nFor Redemption Prior To Maturity, Limiting The Term Of The Securities.

If the closing value of the underlying on any\ncall date is greater than or equal to the starting value, the securities will be automatically called for redemption. If the\nsecurities are automatically called for redemption following any call date, they will cease to be outstanding and you will not receive\nthe call premium applicable to any later call date. Moreover, you may not be able to reinvest your funds in another investment that provides\na similar yield with a similar level of risk.

PS-7

Market Linked Securities—Auto-Callable with Fixed Percentage Buffered Downside

Principal at Risk Securities Linked to the VanEck^® Gold Miners ETF due November 1, 2029

$\"citi_logo_Blue\"$

The Securities Offer Downside Exposure To The\nUnderlying, But No Upside Exposure To The Underlying.

You will not participate in any appreciation in\nthe value of the underlying over the term of the securities. Consequently, your return on the securities will be limited to the applicable\ncall premium payable upon an automatic call and may be significantly less than the return on the underlying over the term of the securities.

You Will Not Receive Dividends\nOr Have Any Other Rights With Respect To The Underlying.

You will not receive any dividends\nwith respect to the underlying. This lost dividend yield may be significant over the term of the securities. The\npayment scenarios described in this pricing supplement do not show any effect of lost dividend yield over the term of the securities. In\naddition, you will not have voting rights or any other rights with respect to the underlying.

The Performance Of The Securities Will Depend\nOn The Closing Values Of The Underlying Solely On The Call Dates, Which Makes The Securities Particularly Sensitive To Volatility In The\nClosing Values Of The Underlying On Or Near The Call Dates.

Whether the securities will be automatically called\nfor redemption will depend on the closing values of the underlying solely on the call dates, regardless of the closing value of the underlying\non other days during the term of the securities. If the securities are not automatically called for redemption, what you receive at maturity\nwill depend solely on the ending value, and not the closing value of the underlying on any other day during the term of the securities.\nBecause the performance of the securities depends on the closing values of the underlying on a limited number of dates, the securities\nwill be particularly sensitive to volatility in the closing values of the underlying. You should understand that the closing value of\nthe underlying has historically been highly volatile.

The Securities Are Subject\nTo The Credit Risk Of Citigroup Global Markets Holdings Inc. And Citigroup Inc.

If we default on our obligations\nunder the securities and Citigroup Inc. defaults on its guarantee obligations, you may not receive anything owed to you under the securities.

The Securities Will Not Be Listed On Any Securities\nExchange And You May Not Be Able To Sell Them Prior To Maturity.

The securities will not be listed on any securities\nexchange. Therefore, there may be little or no secondary market for the securities. We have been advised that Wells Fargo currently intends\nto make a secondary market in relation to the securities. However, Wells Fargo may suspend or terminate making a market without notice,\nat any time and for any reason. If Wells Fargo suspends or terminates making a market, there may be no secondary market at all for the\nsecurities because it is likely that Wells Fargo will be the only broker-dealer that is willing to buy your securities prior to maturity.\nAccordingly, an investor must be prepared to hold the securities until maturity.

The Estimated Value Of The Securities On The\nPricing Date, Based On CGMI’s Proprietary Pricing Models And Our Internal Funding Rate, Is Less Than The Public Offering Price.\n

The difference is attributable to certain costs\nassociated with selling, structuring and hedging the securities that are included in the public offering price. These costs include (i)\nany selling concessions or other fees paid in connection with the offering of the securities, (ii) hedging and other costs incurred by\nus and our affiliates in connection with the offering of the securities and (iii) the expected profit (which may be more or less than\nactual profit) to CGMI or other of our affiliates and/or Wells Fargo or its affiliates in connection with hedging our obligations under\nthe securities. These costs adversely affect the economic terms of the securities because, if they were lower, the economic terms of the\nsecurities would be more favorable to you. The economic terms of the securities are also likely to be adversely affected by the use of\nour internal funding rate, rather than our secondary market rate, to price the securities. See “The Estimated Value Of The Securities\nWould Be Lower If It Were Calculated Based On Wells Fargo’s Determination Of The Secondary Market Rate With Respect To Us”\nbelow.

The Estimated Value Of The Securities Was Determined\nFor Us By Our Affiliate Using Proprietary Pricing Models.

CGMI derived the estimated value disclosed on\nthe cover page of this pricing supplement from its proprietary pricing models. In doing so, it may have made discretionary judgments about\nthe inputs to its models, such as the volatility of the underlying, the dividend yields on the underlying and interest rates. CGMI’s\nviews on these inputs may differ from your or others’ views, and as an underwriter in this offering, CGMI’s interests may\nconflict with yours. Both the models and the inputs to the models may prove to be wrong and therefore not an accurate reflection of the\nvalue of the securities. Moreover, the estimated value of the securities set forth on the cover page of this pricing supplement may differ\nfrom the value that we or our affiliates may determine for the securities for other purposes, including for accounting purposes. You should\nnot invest in the securities because of the estimated value of the securities. Instead, you should be willing to hold the securities to\nmaturity irrespective of the initial estimated value.

PS-8

Market Linked Securities—Auto-Callable with Fixed Percentage Buffered Downside

Principal at Risk Securities Linked to the VanEck^® Gold Miners ETF due November 1, 2029

$\"citi_logo_Blue\"$

The Estimated Value Of The Securities Would\nBe Lower If It Were Calculated Based On Wells Fargo’s Determination Of The Secondary Market Rate With Respect To Us.

The estimated value of the securities included\nin this pricing supplement is calculated based on our internal funding rate, which is the rate at which we are willing to borrow funds\nthrough the issuance of the securities. We expect that our internal funding rate is generally lower than Wells Fargo’s determination\nof the secondary market rate with respect to us, which is the rate that we expect Wells Fargo will use in determining the value of the\nsecurities for purposes of any purchases of the securities from you in the secondary market. If the estimated value included in this pricing\nsupplement were based on Wells Fargo’s determination of the secondary market rate with respect to us, rather than our internal funding\nrate, it would likely be lower. We determine our internal funding rate based on factors such as the costs associated with the securities,\nwhich are generally higher than the costs associated with conventional debt securities, and our liquidity needs and preferences. Our internal\nfunding rate is not an interest rate that is payable on the securities.

Because there is not an active market for traded\ninstruments referencing our outstanding debt obligations, Wells Fargo may determine the secondary market rate with respect to us for purposes\nof any purchase of the securities from you in the secondary market based on the market price of traded instruments referencing the debt\nobligations of Citigroup Inc., our parent company and the guarantor of all payments due on the securities, but subject to adjustments\nthat Wells Fargo may deem appropriate.

The Estimated Value Of The Securities Is Not\nAn Indication Of The Price, If Any, At Which Any Person May Be Willing To Buy The Securities From You In The Secondary Market.

Any such secondary market price will fluctuate\nover the term of the securities based on the market and other factors described in the next risk factor. Moreover, unlike the estimated\nvalue included in this pricing supplement, we expect that any value of the securities determined for purposes of a secondary market transaction\nwill be based on Wells Fargo’s determination of the secondary market rate with respect to us, which will likely result in a lower\nvalue for the securities than if our internal funding rate were used. In addition, we expect that any secondary market price for the securities\nwill be reduced by a bid-ask spread, which may vary depending on the aggregate stated principal amount of the securities to be purchased\nin the secondary market transaction, and may be reduced by the expected cost of unwinding related hedging transactions. As a result, it\nis likely that any secondary market price for the securities will be less than the public offering price.

The Value Of The Securities Prior To Maturity\nWill Fluctuate Based On Many Unpredictable Factors.

The value of your securities prior to maturity\nwill fluctuate based on the closing value of the underlying, the volatility of the closing value of the underlying, dividend yields on\nthe underlying, interest rates generally, the time remaining to maturity and our and Citigroup Inc.’s creditworthiness, as reflected\nin our secondary market rate, among other factors described under “Risk Factors—General\nRisk Factors Relating To All Securities— The Value Of Your Securities Prior To Maturity Will Fluctuate Based On Many Unpredictable\nFactors” in the accompanying product supplement. Changes in the value of the underlying may not result in a comparable\nchange in the value of your securities. You should understand that the value of your securities at any time prior to maturity may be significantly\nless than the public offering price.

We Have Been Advised That, Immediately Following\nIssuance, Any Secondary Market Bid Price Provided By Wells Fargo, And The Value That Will Be Indicated On Any Brokerage Account Statements\nPrepared By Wells Fargo Or Its Affiliates, Will Reflect A Temporary Upward Adjustment.

The amount of this temporary upward adjustment\nwill steadily decline to zero over the temporary adjustment period. See “Valuation of the Securities” in this pricing supplement.

Fluctuations In Exchange Rates Will Affect The Closing Value Of\nThe VanEck^® Gold Miners ETF.

Because the VanEck^® Gold Miners ETF includes securities\nthat trade outside the United States and the closing value of the VanEck^® Gold Miners ETF is based on the U.S. dollar value\nof those securities, holders of the securities will be exposed to currency exchange rate risk with respect to each of the currencies in\nwhich such securities trade. Exchange rate movements for a particular currency are volatile and are the result of numerous factors specific\nto the relevant country, including the supply of, and the demand for, those currencies, as well as government policy, intervention or\nactions, but are also influenced significantly from time to time by political or economic developments, and by macroeconomic factors and\nspeculative actions related to each applicable region. An investor’s net exposure will depend on the extent to which the currencies\nof the applicable countries strengthen or weaken against the U.S. dollar and the relative weight of each currency. If, taking into account\nsuch weighting, the dollar strengthens against the currencies of the securities held by the VanEck^® Gold Miners ETF, the\nprice of the shares of the VanEck^® Gold Miners ETF will be adversely affected for that reason alone and your return on\nthe securities may be reduced. Of particular importance to potential currency exchange risk

PS-9

Market Linked Securities—Auto-Callable with Fixed Percentage Buffered Downside

Principal at Risk Securities Linked to the VanEck^® Gold Miners ETF due November 1, 2029

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are: existing and expected rates of inflation; existing and expected\ninterest rate levels; the balance of payments; and the extent of governmental surpluses or deficits in the applicable countries and the\nUnited States. All of these factors are in turn sensitive to the monetary, fiscal and trade policies pursued by the governments of the\napplicable countries and the United States. and other countries important to international trade and finance.

The VanEck^®\nGold Miners ETF Is Subject To Risks Associated With The Gold And Silver Mining Industries.

The equity\nsecurities included in the NYSE Arca Gold Miners Index and that are generally tracked by the VanEck^® Gold Miners ETF are\ncommon stocks and American depositary receipts (“ADRs”) of companies primarily engaged in mining for gold and silver. The\nshares of the VanEck^® Gold Miners ETF may be subject to increased price volatility as they are linked to a single industry,\nmarket or sector and may be more susceptible to adverse economic, market, political or regulatory occurrences affecting that industry,\nmarket or sector.

Because\nthe VanEck^® Gold Miners ETF invests primarily in common stocks and ADRs of companies that are involved in the gold mining\nindustries, the shares of the VanEck^® Gold Miners ETF are subject to certain risks associated with such companies. Competitive\npressures may have a significant effect on the financial condition of such companies in the gold mining industry. Also, gold mining companies\nare highly dependent on the price of gold. The price of gold is primarily affected by the global demand for and supply of gold. The market\nfor gold bullion is global, and gold prices are subject to volatile price movements over short periods of time and are affected by numerous\nfactors, including macroeconomic factors, such as the structure of and confidence in the global monetary system, expectations regarding\nthe future rate of inflation, the relative strength of, and confidence in, the U.S. dollar (the currency in which the price of gold is\nusually quoted), interest rates, gold borrowing and lending rates and global or regional economic, financial, political, regulatory, judicial\nor other events. Gold prices may be affected by industry factors, such as industrial and jewelry demand as well as lending, sales and\npurchases of gold by the official sector, including central banks and other governmental agencies and multilateral institutions that hold\ngold. Additionally, gold prices may be affected by levels of gold production, production costs and short-term changes in supply and demand\ndue to trading activities in the gold market. From time to time, above-ground inventories of gold may also influence the market. It is\nnot possible to predict the aggregate effect of all or any combination of these factors. The price of gold has recently been, and may\ncontinue to be, extremely volatile.

The VanEck^®\nGold Miners ETF invests to a lesser extent in common stocks and ADRs of companies involved in the silver mining industry. Silver mining\ncompanies are highly dependent on the price of silver. The price of silver is primarily affected by global demand for and supply of silver.\nSilver prices can fluctuate widely and may be affected by numerous factors. These include general economic trends, technical developments,\nsubstitution issues and regulation, as well as specific factors including industrial and jewelry demand, expectations with respect to\nthe rate of inflation, the relative strength of the U.S. dollar (the currency in which the price of silver is generally quoted) and other\ncurrencies, interest rates, central bank sales, forward sales by producers, global or regional political or economic events and production\ncosts and disruptions in major silver-producing countries, such as Mexico, China and Peru. The demand for and supply of silver affect\nsilver prices, but not necessarily in the same manner as supply and demand affect the prices of other commodities. The supply of silver\nconsists of a combination of new mine production and existing stocks of bullion and fabricated silver held by governments, public and\nprivate financial institutions, industrial organizations and private individuals. In addition, the price of silver has on occasion been\nsubject to very rapid short-term changes due to speculative activities. From time to time, above-ground inventories of silver may also\ninfluence the market. The major end uses for silver include industrial applications, jewelry and silverware.

In addition,\nthe VanEck^® Gold Miners ETF is classified as “non-diversified.” A non-diversified fund generally may invest\na larger percentage of its assets in the securities of a smaller number of issuers. As a result, the VanEck^® Gold Miners\nETF may be more susceptible to the risks associated with these particular companies, or to a single economic, political or regulatory\noccurrence affecting these companies.

The VanEck^®\nGold Miners ETF Changed The Underlying Index That It Tracks In September 2025.

Prior to\nmarket close on September 19, 2025, the VanEck^® Gold Miners ETF tracked the NYSE Arca Gold Miners Index. After market close\non September 19, 2025, the VanEck^® Gold Miners ETF began tracking the MarketVector Global Gold Miners Index instead. The\nMarketVector Global Gold Miners Index differs from the NYSE Arca Gold Miners Index, including in the use of different market capitalization\ncriteria for inclusion in the index and different weighting schemes. Accordingly, the composition of the VanEck^® Gold Miners\nETF changed as a result of this transition. In connection with this change, the VanEck^® Gold Miners ETF may have experienced,\nand may continue to experience, additional portfolio turnover, and the VanEck^® Gold Miners ETF may have incurred, and may\ncontinue to incur, higher tracking error than had been typical for the VanEck^® Gold Miners ETF. This change could have\nadversely affected, and may continue to adversely affect, the performance of the VanEck^® Gold Miners ETF and, in turn,\nyour return on the securities. In addition, when evaluating the historical performance of the VanEck^® Gold Miners ETF included\nbelow, you should bear in mind that

PS-10

Market Linked Securities—Auto-Callable with Fixed Percentage Buffered Downside

Principal at Risk Securities Linked to the VanEck^® Gold Miners ETF due November 1, 2029

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the historical\nperformance of the VanEck^® Gold Miners ETF might have been meaningfully different had the VanEck^® Gold Miners\nETF tracked the MarketVector Global Gold Miners Index prior to September 19, 2025.

An Investment\nIn The Securities Is Subject To Risks Associated With Foreign Securities Markets.

Some of\nthe securities held by the VanEck^® Gold Miners ETF are issued by foreign companies and you should be aware that investments\nin securities linked to the value of foreign equity securities involve particular risks. Foreign securities markets may have less liquidity\nand may be more volatile than the U.S. securities markets, and market developments may affect foreign markets differently than U.S. securities\nmarkets. Direct or indirect government intervention to stabilize a foreign securities market, as well as cross-shareholdings in foreign\ncompanies, may affect trading prices and volumes in those markets. Also, there is generally less publicly available information about\nnon-U.S. companies that are not subject to the reporting requirements of the Securities and Exchange Commission, and non-U.S. companies\nare subject to accounting, auditing and financial reporting standards and requirements that differ from those applicable to U.S. reporting\ncompanies.

The prices\nand performance of securities of non-U.S. companies are subject to political, economic, financial, military and social factors which could\nnegatively affect foreign securities markets, including the possibility of recent or future changes in a foreign government’s economic,\nmonetary and fiscal policies, the possible imposition of, or changes in, currency exchange laws or other laws or restrictions applicable\nto foreign companies or investments in foreign equity securities, the possibility of imposition of withholding taxes on dividend income,\nthe possibility of fluctuations in the rate of exchange between currencies, the possibility of outbreaks of hostility or political instability\nand the possibility of natural disaster or adverse public health developments. Moreover, the relevant non-U.S. economies may differ favorably\nor unfavorably from the U.S. economy in important respects, such as growth of gross national product, rate of inflation, trade surpluses\nor deficits, capital reinvestment, resources and self-sufficiency.

In addition,\nthe VanEck^® Gold Miners ETF may include companies in countries with emerging markets. Countries with emerging markets may\nhave relatively unstable governments, may present the risks of nationalization of businesses, restrictions on foreign ownership and prohibitions\non the repatriation of assets, and may have less protection of property rights than more developed countries. The economies of countries\nwith emerging markets may be based on only a few industries, may be highly vulnerable to changes in local or global trade conditions (due\nto economic dependence upon commodity prices and international trade), and may suffer from extreme and volatile debt burdens, currency\ndevaluations or inflation rates. Local securities markets may trade a small number of securities and may be unable to respond effectively\nto increases in trading volume, potentially making prompt liquidation of holdings difficult or impossible at times.

The securities\nincluded in the VanEck^® Gold Miners ETF may be listed on a foreign stock exchange. A foreign stock exchange may impose\ntrading limitations intended to prevent extreme fluctuations in individual security prices and may suspend trading in certain circumstances.\nThese actions could limit variations in the closing value of the VanEck^® Gold Miners ETF which could, in turn, adversely\naffect the value of the securities.

Our Offering Of The Securities Is Not A Recommendation\nOf The Underlying.

The fact that we are offering the securities does\nnot mean that we or Wells Fargo or its affiliates believe that investing in an instrument linked to the underlying is likely to achieve\nfavorable returns. In fact, as we and Wells Fargo and its affiliates are each part of respective global financial institutions, our affiliates\nand affiliates of Wells Fargo may have positions (including short positions) in the underlying or in instruments related to the underlying,\nand may publish research or express opinions, that in each case are inconsistent with an investment linked to the underlying. These and\nother activities of our affiliates or of Wells Fargo or its affiliates may affect the closing value of the underlying in a way that negatively\naffects the value of and your return on the securities.

The Closing Value Of The Underlying May Be\nAdversely Affected By Our Or Our Affiliates’, Or By Wells Fargo And Its Affiliates’, Hedging And Other Trading Activities.\n

We have hedged our obligations under the securities\nthrough CGMI or other of our affiliates and/or Wells Fargo or its affiliates, who have taken positions in the underlying or in financial\ninstruments related to the underlying and may adjust such positions during the term of the securities. Our affiliates and Wells Fargo\nand its affiliates may also take positions in the underlying or in financial instruments related to the underlying on a regular basis\n(taking long or short positions or both), for their accounts, for other accounts under their management or to facilitate transactions\non behalf of customers. These activities could affect the closing value of the underlying in a way that negatively affects the value of\nand your return on the securities. They could also result in substantial returns for us or our affiliates or Wells Fargo and its affiliates\nwhile the value of the securities declines.

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Market Linked Securities—Auto-Callable with Fixed Percentage Buffered Downside

Principal at Risk Securities Linked to the VanEck^® Gold Miners ETF due November 1, 2029

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We And Our Affiliates And Wells Fargo And Its\nAffiliates May Have Economic Interests That Are Adverse To Yours As A Result Of Our And Their Respective Business Activities.

Our affiliates and Wells Fargo and its affiliates\nengage in business activities with a wide range of companies. These activities include extending loans, making and facilitating\ninvestments, underwriting securities offerings and providing advisory services. These activities could involve or affect the\nunderlying in a way that negatively affects the value of and your return on the securities. They could also result in substantial returns\nfor us or our affiliates or Wells Fargo or its affiliates while the value of the securities declines. In addition, in the course\nof this business, we or our affiliates or Wells Fargo or its affiliates may acquire non-public information, which will not be disclosed\nto you.

The Calculation Agent, Which Is An Affiliate\nOf Ours, Will Make Important Determinations With Respect To The Securities.

If certain events occur during the term of the\nsecurities, such as market disruption events and other events with respect to the underlying, CGMI, as calculation agent, will be required\nto make discretionary judgments that could significantly affect your return on the securities. In making these judgments, the\ncalculation agent’s interests as an affiliate of ours could be adverse to your interests as a holder of the securities. See\n“Risk Factors—General Risk Factors Relating To All Securities—The Calculation Agent, Which Is An Affiliate Of\nOurs, Will Make Important Determinations With Respect To The Securities” in the accompanying product supplement.

Changes That Affect The Underlying May Affect\nThe Value Of Your Securities.

The sponsor of the underlying may at any time\nmake methodological changes or other changes in the manner in which it operates that could affect the value of the underlying. We\nare not affiliated with the underlying sponsor and, accordingly, we have no control over any changes such sponsor may make. Such\nchanges could adversely affect the performance of the underlying and the value of and your return on the securities.

The Securities Will Not Be Adjusted For All\nEvents That Could Affect The Value Of The Shares Of The Underlying.

Certain events may occur during the term of the\nsecurities that have a dilutive effect on the value of the shares of the underlying or otherwise adversely affect the market price of\nsuch shares. The calculation agent will make certain adjustments for some of these events, as described under “General Terms of\nthe Securities” in the accompanying product supplement. However, an adjustment will not be made for all events that could have a\ndilutive or adverse effect on such shares or their market price, such as ordinary dividends, partial tender offers or additional public\nofferings of shares, and the adjustments that are made may not fully offset the dilutive or adverse effect of the particular event. Accordingly,\nthe occurrence of any event that has a dilutive or adverse effect on the shares of the underlying may adversely affect what you receive\nat maturity or, if applicable, any other payment owed to you under the securities. Unlike an investor in the securities, a direct holder\nof such shares may receive an offsetting benefit from any such event that may not be reflected in an adjustment to the terms of the securities;\ntherefore, you may experience dilution or adverse consequences in a circumstance in which a direct holder would not.

If A Reorganization Event Occurs With Respect\nTo The Underlying, The Calculation Agent May Make Adjustments To The Terms Of The Securities That Adversely Affect Your Return On The\nSecurities.

If a reorganization event occurs with respect\nto the underlying, the calculation agent will have discretion to make such adjustments to the terms of the securities as the calculation\nagent determines appropriate to account for the economic effect on the securities of such event. In such an event, the calculation agent\nmay, but is not required to, select a successor fund to which the securities may become linked thereafter. In any case, the adjustments\nmade by the calculation agent to the terms of the securities may adversely affect the value of and your return on the securities.

The Value And Performance Of The Shares Of\nThe Underlying May Not Completely Track The Performance Of The Underlying Index That The Underlying Seeks To Track Or The Net Asset Value\nPer Share Of The Underlying.

The underlying does not fully replicate the underlying\nindex that it seeks to track and may hold securities different from those included in its underlying index. In addition, the\nperformance of the underlying will reflect additional transaction costs and fees that are not included in the calculation of its underlying\nindex. All of these factors may lead to a lack of correlation between the performance of the underlying and its underlying\nindex. In addition, corporate actions with respect to the equity securities held by the underlying (such as mergers and spin-offs) may\nimpact the variance between the performance of the underlying and its underlying index. Finally, because the shares of the\nunderlying are traded on an exchange and are subject to market supply and investor demand, the closing value of the underlying may differ\nfrom the net asset value per share of the underlying.

During periods of market volatility, securities\nincluded in the underlying’s underlying index may be unavailable in the secondary market, market participants may be unable to calculate\naccurately the net asset value per share of the underlying and the liquidity of the

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Market Linked Securities—Auto-Callable with Fixed Percentage Buffered Downside

Principal at Risk Securities Linked to the VanEck^® Gold Miners ETF due November 1, 2029

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underlying may be adversely affected. This kind\nof market volatility may also disrupt the ability of market participants to create and redeem shares of the underlying. Further, market\nvolatility may adversely affect, sometimes materially, the price at which market participants are willing to buy and sell the shares of\nthe underlying. As a result, under these circumstances, the closing value of the underlying may vary substantially from the net asset\nvalue per share of the underlying. For all of the foregoing reasons, the performance of the underlying may not correlate with\nthe performance of its underlying index and/or its net asset value per share, which could materially and adversely affect the value of\nthe securities and/or reduce your return on the securities.

A Call Settlement Date Or The Stated Maturity\nDate May Be Postponed If A Calculation Day Is Postponed.

A call date (including the final calculation day)\nwill be postponed for non-trading days and certain market disruption events. If such a postponement occurs, the related call settlement\ndate or maturity date, as applicable, will be postponed. For more information regarding adjustments to the calculation days and payment\ndates and the circumstances that may result in a market disruption event, see the relevant sections of the accompanying product supplement.

The U.S. Federal Tax Consequences Of An Investment\nIn The Securities Are Unclear.

There is no direct legal authority regarding the\nproper U.S. federal tax treatment of the securities, and we do not plan to request a ruling from the Internal Revenue Service (the “IRS”). Consequently,\nsignificant aspects of the tax treatment of the securities are uncertain, and the IRS or a court might not agree with the treatment of\nthe securities as prepaid forward contracts. If the IRS were successful in asserting an alternative treatment of the securities,\nthe tax consequences of the ownership and disposition of the securities might be materially and adversely affected. Even if the treatment\nof the securities as prepaid forward contracts is respected, a security may be treated as a “constructive ownership transaction,”\nwith potentially adverse consequences described below under “United States Federal Tax Considerations.” Moreover, future legislation,\nTreasury regulations or IRS guidance could adversely affect the U.S. federal tax treatment of the securities, possibly retroactively.

If you are a non-U.S. investor, you should review\nthe discussion of withholding tax issues in “United States Federal Tax Considerations—Non-U.S. Holders” below.

You should read carefully the discussion under\n“United States Federal Tax Considerations” and “General Risk Factors Relating to All Securities” in the accompanying\nproduct supplement and “United States Federal Tax Considerations” in this pricing supplement. You should also consult\nyour tax adviser regarding the U.S. federal tax consequences of an investment in the securities, as well as tax consequences arising under\nthe laws of any state, local or non-U.S. taxing jurisdiction.

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Market Linked Securities—Auto-Callable with Fixed Percentage Buffered Downside

Principal at Risk Securities Linked to the VanEck^® Gold Miners ETF due November 1, 2029

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\n \n \n

Hypothetical\n Examples and Returns

The payout profile, return table and examples\nbelow illustrate how to determine the payment on the securities, assuming the various hypothetical closing values indicated below. The\nexamples are solely for illustrative purposes, do not show all possible outcomes and are not a prediction of what the actual payment on\nthe securities will be. The actual payment on the securities will depend on the actual closing values of the underlying on\nthe calculation days.

The examples below are based on a hypothetical\nstarting value of $100, rather than the actual starting value. For the actual starting value, see “Terms of the Securities”\nabove. We have used this hypothetical value, rather than the actual value, to simplify the calculations and aid understanding\nof how the securities work. However, you should understand that the actual payment on the securities will be calculated based\non the actual starting value, and not the hypothetical value indicated below.

Hypothetical Payout Profile

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Market Linked Securities—Auto-Callable with Fixed Percentage Buffered Downside

Principal at Risk Securities Linked to the VanEck^® Gold Miners ETF due November 1, 2029

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Hypothetical Returns

If the securities are automatically called:

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

Hypothetical call date on which securities are automatically called	Hypothetical payment per security on related call settlement date	Hypothetical total pre-tax rate of return
1^st call date	$1,220.00	22.00%
2^nd call date	$1,440.00	44.00%
3^rd call date	$1,660.00	66.00%

If the securities are not automatically called:

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n


\n Hypothetical ending value	Hypothetical underlying return	Hypothetical maturity payment amount per security	Hypothetical total pre-tax rate of return
$99.00	-1.00%	$1,000.00	0.00%
$95.00	-5.00%	$1,000.00	0.00%
$90.00	-10.00%	$1,000.00	0.00%
$89.00	-11.00%	$990.00	-1.00%
$80.00	-20.00%	$900.00	-10.00%
$70.00	-30.00%	$800.00	-20.00%
$60.00	-40.00%	$700.00	-30.00%
$50.00	-50.00%	$600.00	-40.00%
$25.00	-75.00%	$350.00	-65.00%
$0.00	-100.00%	$100.00	-90.00%

Hypothetical Examples

If the securities are automatically called:

Example 1—Automatic Call Prior to Maturity. The hypothetical\nclosing value of the underlying on the first call date is $120, which is greater than the starting\nvalue.

Because\nthe closing value of the underlying on the first call date is greater than the starting value, the securities would be automatically called\nfor redemption on the related call settlement date for an amount in cash per security equal to $1,000 plus the call premium of\n22.00% of the stated principal amount. In this example, the total payment upon automatic call would be $1,220.00 per security.

Even\nthough the underlying appreciated by a percentage greater than the call premium from the starting value to the closing value on the first\ncall date in this example, your return is limited to the applicable call premium. In this scenario, an investment in the securities would\nunderperform a hypothetical alternative investment providing 1-to-1 exposure to the appreciation of the underlying. If the securities\nare automatically called for redemption prior to maturity, they will cease to be outstanding on the related call settlement date, you\nwill have no further rights under the securities after the related call settlement date and you will not receive the call premium applicable\nto any later call date.

Example 2—Automatic Call at Maturity.\nThe securities are not automatically called prior to maturity. The hypothetical closing value of the underlying on the final calculation\nday is $110, which is greater than the starting value.

Because\nthe closing value of the underlying on each call date prior to the last call date (which is the final calculation day) is less than the\nstarting value, the securities are not automatically called prior to maturity. Because the closing value of the underlying on the final\ncalculation day is greater than the starting value, the securities would be automatically called for redemption\non the related call settlement date (which is the maturity date) for an amount in cash per security equal to $1,000 plus the call\npremium of 66.00% of the stated principal amount. In this example, the total payment upon automatic call would be $1,660.00 per security.

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Market Linked Securities—Auto-Callable with Fixed Percentage Buffered Downside

Principal at Risk Securities Linked to the VanEck^® Gold Miners ETF due November 1, 2029

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If the securities\nare not automatically called:

Example 3—Par Scenario. The hypothetical\nending value is $95 (a 5% decrease from the starting value), which is less than the starting value but greater than the\nthreshold value.

Maturity payment amount per security = $1,000

Because the hypothetical ending value is less\nthan the starting value but greater than the threshold value, you would be repaid the stated principal amount of your securities at maturity\nbut would not receive any positive return on your investment.

Example 4—Downside Scenario. The\nhypothetical ending value is $50 (a 50% decrease from the starting value), which is less than the threshold value.

Maturity payment amount per security = $1,000\n+ [$1,000 × (underlying return + buffer amount)]

= $1,000 + [$1,000 × (-50% + 10%)]

= $1,000 + ($1,000 × -40%)

= $1,000 + -$400

= $600

Because the underlying depreciated from the starting\nvalue to the hypothetical ending value by more than the buffer amount, such that the hypothetical ending value is less than the threshold\nvalue, your maturity payment amount in this scenario would reflect 1-to-1 exposure to the negative performance of the underlying beyond\nthe buffer amount.

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Market Linked Securities—Auto-Callable with Fixed Percentage Buffered Downside

Principal at Risk Securities Linked to the VanEck^® Gold Miners ETF due November 1, 2029

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\n \n \n

Information\nAbout the VanEck^® Gold Miners ETF

The VanEck^® Gold Miners ETF is\nan exchange-traded fund that seeks to track as closely as possible, before fees and expenses, the price and yield performance of the MarketVector\nGlobal Gold Miners Index. The MarketVector Global Gold Miners Index is a float-adjusted modified market capitalization-weighted index\nthat tracks the performance of companies involved primarily in the gold and silver mining industry. The VanEck^® Gold Miners\nETF is an investment portfolio of VanEck^® ETF Trust. Prior to market close on September 19, 2025, the VanEck^®\nGold Miners ETF’s benchmark index was the NYSE Arca Gold Miners Index.

The VanEck^® Gold Miners ETF is\nan investment portfolio of VanEck^® ETF Trust. Information provided to or filed with the SEC by VanEck^® ETF\nTrust pursuant to the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, can be located by reference\nto SEC file numbers 333-123257 and 811-10325, respectively, through the SEC’s website at http://www.sec.gov. In addition, information\nmay be obtained from other sources including, but not limited to, press releases, newspaper articles and other publicly disseminated documents.\nThe shares of the VanEck^® Gold Miners ETF trade on the NYSE Arca under the ticker symbol “GDX.”

We have derived all information regarding the\nVanEck^® Gold Miners ETF from publicly available information and have not independently verified any information regarding\nthe VanEck^® Gold Miners ETF. This pricing supplement relates only to the securities and not to the VanEck^®\nGold Miners ETF. We make no representation as to the performance of the VanEck^® Gold Miners ETF over the term\nof the securities.

The securities represent obligations of Citigroup\nGlobal Markets Holdings Inc. (guaranteed by Citigroup Inc.) only. The sponsor of the VanEck^® Gold Miners ETF\nis not involved in any way in this offering and has no obligation relating to the securities or to holders of the securities.

Historical Information

The closing value of the VanEck^®\nGold Miners ETF on October 29, 2026 was $81.33.

The graph below shows the closing value of the\nVanEck^® Gold Miners ETF for each day such value was available from January 4, 2021 to October 29, 2026. We obtained the\nclosing values from Bloomberg L.P., without independent verification. You should not take historical closing values as an indication of\nfuture performance.

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Market Linked Securities—Auto-Callable with Fixed Percentage Buffered Downside

Principal at Risk Securities Linked to the VanEck^® Gold Miners ETF due November 1, 2029

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\n \n \n

United\n States Federal Tax Considerations

In the opinion of our counsel, Davis Polk &\nWardwell LLP, which is based on current market conditions, a security should be treated as a prepaid forward contract for U.S. federal\nincome tax purposes. By purchasing a security, you agree (in the absence of an administrative determination or judicial ruling\nto the contrary) to this treatment. There is uncertainty regarding this treatment, and the IRS or a court might not agree with it.

Assuming this treatment of the securities is respected\nand subject to the discussion in “United States Federal Tax Considerations” in the accompanying product supplement, the following\nU.S. federal income tax consequences should result under current law:

You should not recognize taxable income over\nthe term of the securities prior to maturity, other than pursuant to a sale or exchange.

Upon a sale or exchange of a security (including\nretirement at maturity), you should recognize gain or loss equal to the difference between the amount realized and your tax basis in the\nsecurity. Subject to the discussion below concerning the potential application of the “constructive ownership”\nrules under Section 1260 of the Code, any gain or loss recognized upon a sale, exchange or retirement of a security should be long-term\ncapital gain or loss if you held the security for more than one year.

Even if the treatment of the securities as prepaid\nforward contracts is respected, your purchase of a security may be treated as entry into a “constructive ownership transaction,”\nwithin the meaning of Section 1260 of the Code. In that case, all or a portion of any long-term capital gain you would otherwise recognize\nin respect of your securities would be recharacterized as ordinary income to the extent such gain exceeded the “net underlying long-term\ncapital gain.” Any long-term capital gain recharacterized as ordinary income under Section 1260 would be treated as accruing at\na constant rate over the period you held your securities, and you would be subject to an interest charge in respect of the deemed tax\nliability on the income treated as accruing in prior tax years. Due to the lack of governing authority under Section 1260, our counsel\nis not able to opine as to whether or how Section 1260 applies to the securities. You should read the section entitled “United States\nFederal Tax Considerations—Tax Consequences to U.S. Holders—Securities Treated as Prepaid Forward Contracts—Possible\nApplication of Section 1260 of the Code” in the accompanying product supplement for additional information and consult your tax\nadviser regarding the potential application of the “constructive ownership” rule.

We do not plan to request a ruling from the IRS\nregarding the treatment of the securities. An alternative characterization of the securities could materially and adversely affect the\ntax consequences of ownership and disposition of the securities, including the timing and character of income recognized. In addition,\nthe U.S. Treasury Department and the IRS have requested comments on various issues regarding the U.S. federal income tax treatment of\n“prepaid forward contracts” and similar financial instruments and have indicated that such transactions may be the subject\nof future regulations or other guidance. Furthermore, members of Congress have proposed legislative changes to the tax treatment of derivative\ncontracts. Any legislation, Treasury regulations or other guidance promulgated after consideration of these issues could materially and\nadversely affect the tax consequences of an investment in the securities, possibly with retroactive effect. You should consult your tax\nadviser regarding possible alternative tax treatments of the securities and potential changes in applicable law.

Non-U.S. Holders. Subject to the discussions\nbelow and in “United States Federal Tax Considerations” in the accompanying product supplement, if you are a Non-U.S. Holder\n(as defined in the accompanying product supplement) of the securities, you generally should not be subject to U.S. federal withholding\nor income tax in respect of any amount paid to you with respect to the securities, provided that (i) income in respect of the securities\nis not effectively connected with your conduct of a trade or business in the United States, and (ii) you comply with the applicable certification\nrequirements.

As discussed under “United States Federal\nTax Considerations—Tax Consequences to Non-U.S. Holders” in the accompanying product supplement, Section 871(m) of the Code\nand Treasury regulations promulgated thereunder (“Section 871(m)”) generally impose a 30% withholding tax on dividend equivalents\npaid or deemed paid to Non-U.S. Holders with respect to certain financial instruments linked to U.S. equities (“U.S. Underlying\nEquities”) or indices that include U.S. Underlying Equities. Section 871(m) generally applies to instruments that substantially\nreplicate the economic performance of one or more U.S. Underlying Equities, as determined based on tests set forth in the applicable Treasury\nregulations. However, the regulations, as modified by an IRS notice, exempt financial instruments issued prior to January 1,\n2029 that do not have a “delta” of one. Based on the terms of the securities and representations provided by us,\nour counsel is of the opinion that the securities should not be treated as transactions that have a “delta” of one within\nthe meaning of the regulations with respect to any U.S. Underlying Equity and, therefore, should not be subject to withholding tax under\nSection 871(m).

PS-18

Market Linked Securities—Auto-Callable with Fixed Percentage Buffered Downside

Principal at Risk Securities Linked to the VanEck^® Gold Miners ETF due November 1, 2029

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

If withholding tax applies to the securities,\nwe will not be required to pay any additional amounts with respect to amounts withheld.

You should read the section entitled “United\nStates Federal Tax Considerations” in the accompanying product supplement. The preceding discussion, when read in combination\nwith that section, constitutes the full opinion of Davis Polk & Wardwell LLP regarding the material U.S. federal tax consequences\nof owning and disposing of the securities.

You should also consult your tax adviser regarding\nall aspects of the U.S. federal income and estate tax consequences of an investment in the securities and any tax consequences arising\nunder the laws of any state, local or non-U.S. taxing jurisdiction.

\n \n \n

Supplemental\n Plan of Distribution

Pursuant to the terms of the Amended and Restated\nGlobal Selling Agency Agreement, dated April 7, 2017, CGMI, acting as principal, will purchase the securities from Citigroup Global Markets\nHoldings Inc. CGMI, as the lead agent for the offering, has agreed to sell the securities to Wells Fargo, as agent. Wells Fargo\nwill receive an underwriting discount and commission of 2.575% ($25.75) for each security it sells. Wells Fargo may pay selected\ndealers, which may include WFA, a fixed selling commission of 2.00% ($20.00) for each security they sell. In addition to the selling commission\nallowed to WFA, Wells Fargo may pay $0.75 per security of the underwriting discount and commission to WFA as a distribution expense fee\nfor each security sold by WFA.

In addition,\nin respect of certain securities sold in this offering, CGMI may pay a fee of up to $2.00 per security to selected securities dealers\nin consideration for marketing and other services in connection with the distribution of the securities to other securities dealers.

For the avoidance of doubt, the fees and selling\nconcessions described in this pricing supplement will not be rebated if the securities are automatically called for redemption.

\n \n \n

Valuation\n of the Securities

CGMI calculated the estimated value of the securities\nset forth on the cover page of this pricing supplement based on proprietary pricing models. CGMI’s proprietary pricing models generated\nan estimated value for the securities by estimating the value of a hypothetical package of financial instruments that would replicate\nthe payout on the securities, which consists of a fixed-income bond (the “bond component”) and one or more derivative instruments\nunderlying the economic terms of the securities (the “derivative component”). CGMI calculated the estimated value of the bond\ncomponent using a discount rate based on our internal funding rate. CGMI calculated the estimated value of the derivative component based\non a proprietary derivative-pricing model, which generated a theoretical price for the instruments that constitute the derivative component\nbased on various inputs, including the factors described under “Summary Risk Factors—The Value Of The Securities Prior To\nMaturity Will Fluctuate Based On Many Unpredictable Factors” in this pricing supplement, but not including our or Citigroup Inc.’s\ncreditworthiness. These inputs may be market-observable or may be based on assumptions made by CGMI in its discretionary judgment.

We have been advised that, for a period of approximately\nthree months following issuance of the securities, the price, if any, at which Wells Fargo would be willing to buy the securities from\ninvestors, and the value that will be indicated for the securities on any brokerage account statements prepared by Wells Fargo or its\naffiliates, will reflect a temporary upward adjustment from the price or value that would otherwise be determined. This temporary\nupward adjustment represents a portion of the costs associated with selling, structuring and hedging the securities that are included\nin the public offering price of the securities. The amount of this temporary upward adjustment will decline to zero on a straight-line\nbasis over the three-month temporary adjustment period. However, Wells Fargo is not obligated to buy the securities from investors\nat any time. See “Summary Risk Factors—The Securities Will Not Be Listed On Any Securities Exchange And You May\nNot Be Able To Sell Them Prior To Maturity.”

\n \n \n

Validity\n of the Securities

In the opinion of Davis Polk & Wardwell LLP,\nas special products counsel to Citigroup Global Markets Holdings Inc., when the securities offered by this pricing supplement have been\nissued by Citigroup Global Markets Holdings Inc. pursuant to the indenture, the trustee and/or paying agent has made, in accordance with\ninstructions from Citigroup Global Markets Holdings Inc., appropriate entries or notations in its records relating to the master global\nnote that represents such securities and such securities have been delivered against payment therefor, such securities and the related\nguarantee of Citigroup Inc. will be valid and binding obligations of Citigroup Global Markets Holdings Inc. and Citigroup Inc., respectively,\nenforceable in accordance with their respective terms, subject to applicable bankruptcy, insolvency and similar laws affecting creditors’\nrights generally, concepts of reasonableness and equitable principles of general applicability (including, without limitation, concepts\nof good faith, fair dealing and the lack of bad faith), provided that such counsel expresses no opinion as to (x) the effect of fraudulent\nconveyance, fraudulent transfer or similar provision of applicable law on

PS-19

Market Linked Securities—Auto-Callable with Fixed Percentage Buffered Downside

Principal at Risk Securities Linked to the VanEck^® Gold Miners ETF due November 1, 2029

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the conclusions expressed above or (y) the validity,\nlegally binding effect or enforceability of any provision that permits holders to collect any portion of the stated principal amount upon\nacceleration of the securities to the extent determined to constitute unearned interest. This opinion is given as of the date of this\npricing supplement and is limited to the laws of the State of New York and the General Corporation Law of the State of Delaware, except\nthat such counsel expresses no opinion as to (i) any law, rule or regulation that is applicable to Citigroup Global Markets Holdings Inc.\nor Citigroup Inc., the indenture, the securities, the related guarantee (together with the indenture and the securities, the “Documents”)\nor such transactions solely because such law, rule or regulation is part of a regulatory regime applicable to any party to any of the\nDocuments 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\nrelating to national security.

In addition, this opinion is subject to the assumptions set forth in\nthe letter of Davis Polk & Wardwell LLP dated February 25, 2026, which has been filed as an exhibit to the Registration Statement\non Form S-3 by Citigroup Global Markets Holdings Inc. and Citigroup Inc. on February 25, 2026, that the Documents have been duly authorized,\nexecuted, authenticated (if applicable) and delivered by, and are each a valid, binding and enforceable agreement of, each party thereto\n(other than as expressly covered above in respect of Citigroup Global Markets Holdings Inc. and Citigroup Inc.) and that the terms of\nthe securities and the issuance, execution, delivery and performance by Citigroup Global Markets Holdings Inc. and Citigroup Inc. of the\nsecurities and the related guarantee do not contravene, or constitute a default under, any judgment, injunction, order or decree or any\nagreement or other instrument binding upon Citigroup Global Markets Holdings Inc. or Citigroup Inc.

© 2026 Citigroup Global Markets Inc. All\nrights reserved. Citi and Citi and Arc Design are trademarks and service marks of Citigroup Inc. or its affiliates and are used and registered\nthroughout the world.

PS-20

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