The premium applicable to each valuation date will be determined on the pricing date and will be within the ranges indicated below. The premium may be significantly less than the appreciation of any underlying from the pricing date to the applicable valuation date.

·       June 1, 2020:

·       June 1, 2021:

·       May 31, 2022:

·       May 31, 2023:

If the securities are not automatically redeemed prior to maturity, you will receive at maturity, for each security you then hold, an amount in cash equal to:

§   If the final underlying value of the worst performing underlying on the final valuation date is greater than or equal to its initial underlying value:

$1,000 + the premium applicable to the final valuation date

§   If the final underlying value of the worst performing underlying on the final valuation date is less than its initial underlying value but greater than or equal to its trigger value: $1,000

§   If the final underlying value of the worst performing underlying on the final valuation date is less than its trigger value:

$1,000 + ($1,000 × the underlying return of the worst performing underlying on the final valuation date)

If the securities are not automatically redeemed prior to maturity and the final underlying value of the worst performing underlying on the final valuation date is less than its trigger value, you will receive significantly less than the stated principal amount of your securities, and possibly nothing, at maturity. The securities are unsecured debt securities. All payments on the securities are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc.

·    You may lose a significant portion or all of your investment. Unlike conventional debt securities, the securities do not provide for the repayment of the stated principal amount at maturity in all circumstances. If the securities are not automatically redeemed prior to maturity, your payment at maturity will depend on the final underlying value of the worst performing underlying on the final valuation date. If the final underlying value of the worst performing underlying on the final valuation date is less than its trigger value, you will lose 1% of the stated principal amount of the securities for every 1% by which the worst performing underlying has declined from its initial underlying value. There is no minimum payment at maturity on the securities, and you may lose up to all of your investment.

·    Your potential return on the securities is limited to the applicable premium.

·    The securities do not pay interest.

·    The securities are subject to heightened risk because they have multiple underlyings.

·    The securities are subject to the risks of each of the underlyings and will be negatively affected if any one underlying performs poorly.

·    You will not benefit in any way from the performance of any better performing underlying.

·    You will be subject to risks relating to the relationship between the underlyings. The less correlated the underlyings, the more likely that any one underlying will perform poorly.

·    The securities offer downside exposure to the worst performing underlying, but no upside exposure to any underlying.

·    You will not receive dividends or have any other rights with respect to the underlyings.

·    The securities are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc.

·    The securities will not be listed on any securities exchange and you may not be able to sell them prior to maturity.

·    The estimated value of the securities on the pricing date will be less than the issue price. For more information about the estimated value of the securities, see the accompanying preliminary pricing supplement.

·    The value of the securities prior to maturity will fluctuate based on many unpredictable factors.

·    The Russell 2000^® Index is subject to risks associated with small capitalization stocks.

·    The issuer and its affiliates may have economic interests that are adverse to yours as a result of its and their affiliates’ business activities.

·    The U.S. federal tax consequences of an investment in the securities are unclear.

The above summary of selected risks does not describe all of the risks associated with an investment in the securities. You should read the accompanying preliminary pricing supplement and product supplement for a more complete description of risks relating to the securities.

Citigroup Global Markets Holdings Inc. and Citigroup Inc. have filed registration statements (including the accompanying preliminary pricing supplement, product supplement, underlying supplement, prospectus supplement and prospectus) with the Securities and Exchange Commission (“SEC”) for the offering to which this communication relates. Before you invest, you should read the accompanying preliminary pricing supplement, product supplement, underlying supplement, prospectus supplement and prospectus in those registration statements (File Nos. 333-224495 and 333-224495-03) and the other documents Citigroup Global Markets Holdings Inc. and Citigroup Inc. have filed with the SEC for more complete information about Citigroup Global Markets Holdings Inc., Citigroup Inc. and this offering. You may obtain these documents without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, you can request these documents by calling toll-free 1-800-831-9146.

Filed pursuant to Rule 433

Citi Structured Investments

+1-212-723-3136

structured.investments@citi.com