<SEC-DOCUMENT>0001918704-25-018587.txt : 20251030
<SEC-HEADER>0001918704-25-018587.hdr.sgml : 20251030
<ACCEPTANCE-DATETIME>20251030161753
ACCESSION NUMBER:		0001918704-25-018587
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20251030
DATE AS OF CHANGE:		20251030

SUBJECT COMPANY:	

	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:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-270327
		FILM NUMBER:		251435855

	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

FILED BY:		

	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:		FWP

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>formfwp.htm
<DESCRIPTION>FORM FWP
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                <p style="margin: 0px 0px 0px 1.33px; line-height: 20.2px;"><font style="font-size: 18.67px; color: #FFFFFF; font-family: Calibri;">Citigroup Global Markets Holdings Inc.</font></p>
                <p style="margin: 0px 0px 0px 1.33px; line-height: 16.13px;"><font style="font-size: 13.34px; color: #FFFFFF; font-family: Calibri;">Guaranteed by Citigroup Inc.</font></p>
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                <p style="margin: 4.47px 0px 0px 0px; font-size: 16px; line-height: 114.24%;"><font style="font-size: 16px; font-family: Calibri;">Hypothetical Interim Payment per Security<sup style="line-height: 1; font-size: 75%; vertical-align: top;">**</sup></font></p>
                <p style="margin: 4.47px 0px 0px 0px; font-size: 10px; line-height: 114.24%;"><font style="font-size: 10px; font-family: Calibri;" class="empty">&#160;</font></p>
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                    <td style="box-sizing: border-box; width: 200px; padding: 0px 0px 0px 0px; border-bottom: 0.67px solid #000000; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 12px; line-height: 116.67%;"><font style="font-size: 12px; color: #59AE43; font-family: Calibri;">Valuation Date on which the Closing Value of the Underlying Equals or Exceeds Initial Underlying Value</font></p>
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                    <td style="box-sizing: border-box; width: 200px; padding: 0px 0px 0px 0px; border-bottom: 0.67px solid #000000; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 12px; line-height: 116.67%;"><font style="font-size: 12px; color: #59AE43; font-family: Calibri;">Premium</font></p>
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                    <td style="box-sizing: border-box; width: 200px; padding: 0px 0px 0px 0px; border-bottom: 0.67px solid #000000; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 12px; line-height: 116.67%;"><font style="font-size: 12px; color: #59AE43; font-family: Calibri;">Hypothetical Redemption</font></p>
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                    <td style="box-sizing: border-box; width: 200px; padding: 0px 0px 0px 0px; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">November 27, 2026</font></p>
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                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">28.90%</font></p>
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                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">$1,289.00</font></p>
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                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">November 26, 2027</font></p>
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                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">57.80%</font></p>
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                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">$1,578.00</font></p>
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                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">November 27, 2028</font></p>
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                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">86.70%</font></p>
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                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">$1,867.00</font></p>
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                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">November 26, 2029</font></p>
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                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">115.60%</font></p>
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                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">$2,156.00</font></p>
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                <p style="margin: 0px 0px 0px 0px; font-size: 14.67px; line-height: 0%;"><font style="font-family: Calibri;" class="empty">&#160;</font></p>
                <p style="margin: 4.47px 0px 0px 0px; font-size: 10px; line-height: 114.24%;"><font style="font-size: 10px; font-family: Calibri;">If the closing value of the underlying is not greater than or equal to the initial underlying value on any interim valuation date, then the securities will not be automatically redeemed prior to maturity and you will not receive a premium following that valuation date.</font></p>
                <p style="margin: 4.47px 0px 0px 0px; font-size: 10px; line-height: 114.24%;"><font style="font-size: 8px; font-family: Calibri;"><sup style="line-height: 1; font-size: 75%; vertical-align: top;">**</sup> </font><font style="font-size: 10px; font-family: Calibri;">The hypotheticals assume that the premium applicable to each valuation date will be set at the lowest value indicated in this offering summary.</font></p>
                <p style="margin: 4.47px 0px 0px 0px; font-size: 16px; line-height: 114.24%;"><font style="font-size: 16px; font-family: Calibri;">Hypothetical Payment at Maturity per Security<sup style="line-height: 1; font-size: 75%; vertical-align: top;">***</sup></font></p>
                <p style="margin: 4.47px 0px 0px 0px; font-size: 10px; line-height: 114.24%;"><font style="font-size: 10px; font-family: Calibri;">Assumes the securities have not been automatically redeemed prior to maturity.</font></p>
                <p style="margin: 0px 0px 0px 0px; font-size: 14.67px; line-height: 5.83%;"><font style="font-family: Calibri;" class="empty">&#160;</font></p>
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                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 12px; line-height: 116.67%;"><font style="font-size: 12px; color: #59AE43; font-family: Calibri;">Hypothetical Underlying Return on Final Valuation Date</font></p>
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                    <td style="box-sizing: border-box; width: 300px; padding: 0px 0px 0px 0px; border-bottom: 0.67px solid #000000; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 12px; line-height: 116.67%;"><font style="font-size: 12px; color: #59AE43; font-family: Calibri;">Hypothetical Payment at Maturity</font></p>
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                    <td style="box-sizing: border-box; width: 300px; padding: 0px 0px 0px 0px; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">100.00%</font></p>
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                    <td style="box-sizing: border-box; width: 300px; padding: 0px 0px 0px 0px; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">$2,445.00</font></p>
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                  <tr style="vertical-align: top;">
                    <td style="box-sizing: border-box; width: 300px; padding: 0px 0px 0px 0px; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">50.00%</font></p>
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                    <td style="box-sizing: border-box; width: 300px; padding: 0px 0px 0px 0px; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">$2,445.00</font></p>
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                    <td style="box-sizing: border-box; width: 300px; padding: 0px 0px 0px 0px; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">25.00%</font></p>
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                    <td style="box-sizing: border-box; width: 300px; padding: 0px 0px 0px 0px; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">$2,445.00</font></p>
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                  <tr style="vertical-align: top;">
                    <td style="box-sizing: border-box; width: 300px; padding: 0px 0px 0px 0px; border-bottom: 0.67px solid #000000; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">0.00%</font></p>
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                    <td style="box-sizing: border-box; width: 300px; padding: 0px 0px 0px 0px; border-bottom: 0.67px solid #000000; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">$2,445.00</font></p>
                    </td>
                  </tr>
                  <tr style="vertical-align: top;">
                    <td style="box-sizing: border-box; width: 300px; padding: 0px 0px 0px 0px; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">-0.01%</font></p>
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                    <td style="box-sizing: border-box; width: 300px; padding: 0px 0px 0px 0px; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">$1,000.00</font></p>
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                  <tr style="vertical-align: top;">
                    <td style="box-sizing: border-box; width: 300px; padding: 0px 0px 0px 0px; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">-25.00%</font></p>
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                    <td style="box-sizing: border-box; width: 300px; padding: 0px 0px 0px 0px; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">$1,000.00</font></p>
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                  <tr style="vertical-align: top;">
                    <td style="box-sizing: border-box; width: 300px; padding: 0px 0px 0px 0px; border-bottom: 0.67px solid #000000; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">-50.00%</font></p>
                    </td>
                    <td style="box-sizing: border-box; width: 300px; padding: 0px 0px 0px 0px; border-bottom: 0.67px solid #000000; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">$1,000.00</font></p>
                    </td>
                  </tr>
                  <tr style="vertical-align: top;">
                    <td style="box-sizing: border-box; width: 300px; padding: 0px 0px 0px 0px; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">-50.01%</font></p>
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                    <td style="box-sizing: border-box; width: 300px; padding: 0px 0px 0px 0px; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">$499.90</font></p>
                    </td>
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                  <tr style="vertical-align: top;">
                    <td style="box-sizing: border-box; width: 300px; padding: 0px 0px 0px 0px; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">-75.00%</font></p>
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                    <td style="box-sizing: border-box; width: 300px; padding: 0px 0px 0px 0px; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">$250.00</font></p>
                    </td>
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                  <tr style="vertical-align: top;">
                    <td style="box-sizing: border-box; width: 300px; padding: 0px 0px 0px 0px; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">-100.00%</font></p>
                    </td>
                    <td style="box-sizing: border-box; width: 300px; padding: 0px 0px 0px 0px; vertical-align: middle;">
                      <p style="text-align: center; margin: 0px 0px 0px 0px; font-size: 10.67px; line-height: 175%;"><font style="font-size: 10.67px; font-family: Calibri;">$0.00</font></p>
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                <p style="margin: 0px 0px 0px 0px; font-size: 14.67px; line-height: 5.83%;"><font style="font-family: Calibri;" class="empty">&#160;</font></p>
                <p style="margin: 4.47px 0px 0px 0px; font-size: 8px; line-height: 114.24%;"><font style="font-size: 8px; font-family: Calibri;"><sup style="line-height: 1; font-size: 75%; vertical-align: top;">***</sup></font><font style="font-size: 10px; font-family: Calibri;"> </font><font style="font-size: 8px; font-family: Calibri;">The hypothetical assumes that the premium on the final valuation date will be set at the lowest value indicated in this offering summary.</font></p>
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              <div style="position: absolute; top: 0px; left: 0px; height: 621.13px; width: 402.93px; background-color: #F6FFF3; border: 0.67px solid #585858; box-sizing: border-box; padding: 4.91px 9.45px 4.91px 9.45px;"></div>
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            <div style="width: 517.33px; height: 604.4px; position: absolute; overflow-x: clip; margin-top: 3.8px; margin-left: 11.13px; z-index: 10;">
              <div style="position: absolute; top: 0px; left: 0px; height: 604.4px; width: 517.33px; box-sizing: border-box; padding: 0px 0px 0px 0px;">
                <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 22.67px; color: #59AE43; font-family: Calibri;">5 Year Autocallable Securities Linked to SPXF4EV6</font></p>
                <p style="margin: 4.47px 0px 0px 0px; font-size: 13.34px; line-height: 114.24%;"><font style="font-size: 13.34px; font-family: Calibri;">Preliminary Terms</font></p>
                <p style="margin: 4.47px 0px 0px 0px; font-size: 10.67px; line-height: 114.24%;"><font style="font-size: 10.67px; font-family: Calibri;">This summary of terms is not complete and should be read with the preliminary pricing supplement below</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; color: #59AE43; font-family: Calibri;">Issuer:</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; font-family: Calibri;">Citigroup Global Markets Holdings Inc.</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; color: #59AE43; font-family: Calibri;">Guarantor:</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; font-family: Calibri;">Citigroup Inc.</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; color: #59AE43; font-family: Calibri;">Underlying:</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; font-family: Calibri;">The S&amp;P 500 Futures 40% Edge Volatility 6% Decrement Index (USD) ER (ticker: &#8220;SPXF4EV6&#8221;) (the &#8220;Index&#8221;)</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; color: #59AE43; font-family: Calibri;">Pricing date:</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; font-family: Calibri;">November 25, 2025</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; color: #59AE43; font-family: Calibri;">Valuation dates:</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; font-family: Calibri;">Annually, beginning approximately one year after issuance</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; color: #59AE43; font-family: Calibri;">Final valuation date:</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; font-family: Calibri;">November 25, 2030</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; color: #59AE43; font-family: Calibri;">Maturity date:</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; font-family: Calibri;">November 29, 2030</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; color: #59AE43; font-family: Calibri;">Final barrier value:</font></p>
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                    <td style="box-sizing: border-box; width: 400px; padding: 0px 0px 0px 0px; border-top: 0.67px solid #000000; border-bottom: 0.67px solid #000000;">
                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; font-family: Calibri;">50.00% of the initial underlying value</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; color: #59AE43; font-family: Calibri;">Automatic early redemption:</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; font-family: Calibri;">If on any valuation date prior to the final valuation date the closing value of the underlying is greater than or equal to the initial underlying value, the securities will be automatically called for an amount equal to the principal plus the applicable premium</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; color: #59AE43; font-family: Calibri;">Premium:</font></p>
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                    <td style="box-sizing: border-box; width: 400px; padding: 0px 0px 0px 0px; border-top: 0.67px solid #000000; border-bottom: 0.67px solid #000000;">
                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; font-family: Calibri;">At least 28.90% per annum*</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; color: #59AE43; font-family: Calibri;">CUSIP / ISIN:</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; font-family: Calibri;">17331BC49 / US17331BC491</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; color: #59AE43; font-family: Calibri;">Initial underlying value:</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; font-family: Calibri;">The closing value on the pricing date</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; color: #59AE43; font-family: Calibri;">Final underlying value:</font></p>
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                    <td style="box-sizing: border-box; width: 400px; padding: 0px 0px 0px 0px; border-top: 0.67px solid #000000; border-bottom: 0.67px solid #000000;">
                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; font-family: Calibri;">The closing value on the final valuation date</font></p>
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                    <td style="box-sizing: border-box; width: 113.33px; padding: 0px 0px 0px 0px; border-top: 0.67px solid #000000; border-bottom: 0.67px solid #000000;">
                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; color: #59AE43; font-family: Calibri;">Underlying return:</font></p>
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                    <td style="box-sizing: border-box; width: 400px; padding: 0px 0px 0px 0px; border-top: 0.67px solid #000000; border-bottom: 0.67px solid #000000;">
                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; font-family: Calibri;">(Final underlying value - initial underlying value) / initial underlying value</font></p>
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                    <td style="box-sizing: border-box; width: 113.33px; padding: 0px 0px 0px 0px; border-top: 0.67px solid #000000; border-bottom: 0.67px solid #000000;">
                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; color: #59AE43; font-family: Calibri;">Payment at maturity (if not autocalled):</font></p>
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                    <td style="box-sizing: border-box; width: 400px; padding: 0px 0px 0px 0px; border-top: 0.67px solid #000000; border-bottom: 0.67px solid #000000;">
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">If the final underlying value is <b>greater than or equal to</b> the initial underlying value: </font></p>
                      <p style="margin: 2.67px 0px 2.67px 35.13px;"><font style="font-size: 9.34px; font-family: Calibri;">$1,000 + the premium applicable to the final valuation date</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">If the final underlying value is <b>less than</b> the initial underlying value but <b>greater than or equal to</b> the final barrier value: </font></p>
                      <p style="margin: 2.67px 0px 2.67px 35.13px;"><font style="font-size: 9.34px; font-family: Calibri;">$1,000</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">If the final underlying value is <b>less than</b> the final barrier value: </font></p>
                      <p style="margin: 2.67px 0px 2.67px 35.13px;"><font style="font-size: 9.34px; font-family: Calibri;">$1,000 + ($1,000 &#215; the underlying return)</font></p>
                      <p style="margin: 4.47px 0px 0px 0px; font-size: 9.34px; line-height: 114.24%;"><font style="font-size: 9.34px; font-family: Calibri;">If the securities are not automatically redeemed prior to maturity and the final underlying value is less than the final barrier value, you will receive significantly less than the stated principal amount of your securities, and possibly nothing, at maturity.</font></p>
                      <p style="margin: 4.47px 0px 0px 0px; font-size: 9.34px; line-height: 114.24%;"><font style="font-size: 9.34px; font-family: Calibri;">All payments on the securities are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc.</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; color: #59AE43; font-family: Calibri;">Stated principal amount:</font></p>
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                    <td style="box-sizing: border-box; width: 400px; padding: 0px 0px 0px 0px; border-top: 0.67px solid #000000; border-bottom: 0.67px solid #000000;">
                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; font-family: Calibri;">$1,000 per security</font></p>
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                      <p style="margin: 0px 0px 0px 0px;"><font style="font-size: 9.34px; color: #59AE43; font-family: Calibri;">Preliminary pricing supplement:</font></p>
                    </td>
                    <td style="box-sizing: border-box; width: 400px; padding: 0px 0px 0px 0px; border-top: 0.67px solid #000000;">
                      <p style="margin: 0px 0px 0px 0px;"><a href="https://www.sec.gov/Archives/edgar/data/200245/000191870425018576/form424b2.htm"><font style="font-size: 9.34px; color: #59AE43; font-family: Calibri;"><u>Preliminary Pricing Supplement dated October 30, 2025</u></font></a></p>
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                <p style="margin: 0px 0px 0px 0px; font-size: 14.67px; line-height: 0%;"><font style="font-family: Calibri;" class="empty">&#160;</font></p>
                <p style="margin: 4.47px 0px 0px 0px; font-size: 8.66px; line-height: 114.24%;"><font style="font-size: 8.66px; font-family: Calibri;"><sup style="line-height: 1; font-size: 75%; vertical-align: top;">*</sup> </font><font style="font-size: 8px; font-family: Calibri;">The actual premium will be determined on the pricing date.</font></p>
                <p style="margin: 4.47px 0px 0px 0px; font-size: 8px; line-height: 114.24%;"><font style="font-size: 8px; font-family: Calibri;" class="empty">&#160;</font></p>
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                <p style="margin: 0px 0px 0px 1.33px; line-height: 20.2px;"><font style="font-size: 18.67px; color: #FFFFFF; font-family: Calibri;">Citigroup Global Markets Holdings Inc.</font></p>
                <p style="margin: 0px 0px 0px 1.33px; line-height: 16.13px;"><font style="font-size: 13.34px; color: #FFFFFF; font-family: Calibri;">Guaranteed by Citigroup Inc.</font></p>
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                      <p style="margin: 0px 0px 0px 0px; line-height: 14.93px;"><font style="color: #585858; font-family: Calibri;">Additional Information</font></p>
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                      <p style="margin: 4.47px 0px 0px 0px; font-size: 10px; line-height: 114.24%;"><font style="font-size: 10px; font-family: Calibri;">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 (&#8220;SEC&#8221;) for the offering to which this communication relates. Before you invest, you should read the accompanying preliminary pricing supplement, product supplement, underlying supplement, prospectus supplement and prospectus in those registration statements (File Nos. 333-270327 and 333-270327-01) and the other documents Citigroup Global Markets Holdings Inc. and Citigroup Inc. have filed with the SEC for more complete information about Citigroup Global Markets Holdings Inc., Citigroup Inc. and this offering. You may obtain these documents without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, you can request these documents by calling toll-free 1-800-831-9146.</font></p>
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                      <p style="margin: 4.47px 0px 0px 0px; font-size: 10px; line-height: 114.24%;"><font style="font-size: 10px; font-family: Calibri;">Filed pursuant to Rule 433</font></p>
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                      <p style="margin: 4.47px 14.13px 0px 0px; font-size: 10px; line-height: 114.24%;"><font style="font-size: 10px; font-family: Calibri;"><b>This offering summary does not contain all of the material information an investor should consider before investing in the securities. This offering summary is not for distribution in isolation and must be read together with the accompanying preliminary pricing supplement and the other documents referred to therein, which can be accessed via the link on the first page.</b></font></p>
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                      <p style="margin: 0px 0px 0px 0px; line-height: 14.93px;"><font style="color: #585858; font-family: Calibri;">Selected Risk Considerations</font></p>
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                    <td style="box-sizing: border-box; width: 463.13px; padding: 0px 0px 0px 0px; border-top: 0.67px solid #7E7E7E; border-bottom: 0.67px solid #7E7E7E; height: 549.87px;">
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">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. If the final underlying value is less than the final barrier value, you will lose 1% of the stated principal amount of your securities for every 1% by which the underlying has declined from the initial underlying value. There is no minimum payment at maturity on the securities, and you may lose up to all of your investment.</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">Your potential return on the securities is limited.</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">The securities do not pay interest.</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">You will not receive dividends or have any other rights with respect to the underlying.</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">The securities may be automatically redeemed prior to maturity.</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">The securities offer downside exposure, but no upside exposure, to the underlying.</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">The securities are particularly sensitive to the volatility of the closing value of the underlying on or near the valuation dates.</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">The securities are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc. If Citigroup Global Markets Holdings Inc. defaults on its obligations under the securities and Citigroup Inc. defaults on its guarantee obligations, you may not receive anything owed to you under the securities.</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">The securities will not be listed on any securities exchange and you may not be able to sell them prior to maturity.</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">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.</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">The value of the securities prior to maturity will fluctuate based on many unpredictable factors.</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">The issuer and its affiliates may have conflicts of interest with you.</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">The U.S. federal tax consequences of an investment in the securities are unclear.</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">The Index is highly risky because it may reflect highly leveraged exposure to the Underlying Futures Index and may therefore experience a decline that is many multiples of any decline in the Underlying Futures Index.</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">The Index may realize significant losses if it is not consistently successful in increasing exposure to the Underlying Futures Index in advance of increases in the Underlying Futures Index and reducing exposure to the Underlying Futures Index in advance of declines in the Underlying Futures Index.</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">The Index may be adversely affected by a time lag in its volatility targeting mechanism.</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">The Index may be adversely affected by a &#8220;decay&#8221; effect.</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">The Underlying Futures Index is expected to underperform the S&amp;P 500<sup style="line-height: 1; font-size: 75%; vertical-align: top;">&#174;</sup> Index because of an implicit financing cost.</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">The performance of the Index will be reduced by a decrement of 6% per annum.</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">The Index may not fully participate in any appreciation of the Underlying Futures Index.</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">The Index may perform less favorably than it would if its volatility targeting mechanism were based on an alternative volatility measure, such as actual realized volatility, rather than implied volatility.</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">The Index may significantly underperform the S&amp;P 500<sup style="line-height: 1; font-size: 75%; vertical-align: top;">&#174;</sup> Index.</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">The Index has limited actual performance information.</font></p>
                      <p style="margin: 4.27px 26.07px 0px 27.6px; font-size: 9.34px; line-height: 114.24%; text-indent: -18.13px;"><font style="display: inline-block; min-width: 18.13px; font-size: 10px; color: #585858; font-family: Arial; text-indent: 0px;" class="bullet">&#8226;</font><font style="font-size: 9.34px; font-family: Calibri; text-indent: 0px;">An affiliate of ours participated in the development of the Index.</font></p>
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                      <p style="margin: 4.47px 14.13px 0px 0px; font-size: 10px; line-height: 114.24%;"><font style="font-size: 10px; font-family: Calibri;"><b>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.</b></font></p>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
