4 CitiFirst Offerings Brochure | December 2019 Market-Linked Notes Based on a Basket of Two Underliers (5.0 Years) Indicative
Terms* Issuer: Citigroup Global Markets Holdings Inc., a wholly owned subsidiary of Citigroup Inc. Basket: Basket Component Weighting Initial Component Multiplier** Value* S&P 500® Index (ticker symbol: SPX) 50% iSTOXX®
Europe Economic Growth Select 50 Index 50% (ticker symbol: SXEEGSP) * The initial component value for each basket component will be the closing level of that basket component on the pricing date ** The multiplier for each basket
component will be determined as follows: (initial basket level x weighting) / initial component value. Stated principal amount: $1,000 per note Pricing date: December 19, 2019 Issue date: December 24, 2019 Valuation dates: March 19,
2020, June 19, 2020, September 18, 2020, December 18, 2020, March 19, 2021, June 18, 2021, September 17, 2021, December 17, 2021, March 18, 2022, June 17, 2022, September 19, 2022, December 19,
2022, March 17, 2023, June 19, 2023, September 19, 2023, December 19, 2023, March 19, 2024, June 19, 2024, September 19, 2024 and December 19, 2024, each subject to postponement if such date is not a scheduled
trading day or if certain market disruption events occur with respect to a basket component Maturity date: December 24, 2024 Payment at maturity: For each note, the $1,000 stated principal amount per note plus the note return amount, which will
be either zero or positive Note return amount: If the average basket return percentage is greater than zero: $1,000 x average basket return percentage x upside participation rate If the average basket return percentage is less than or
equal to zero: $0 Average basket return The arithmetic average of the interim basket return percentages, as measured on each of the valuation percentage: dates Interim basket return On each valuation date: (ending basket levelinitial basket
level) / initial basket level percentage: Initial basket level: 100 Ending basket level: The closing level of the basket on the relevant valuation date. The closing level of the basket on any valuation date is equal to the sum of the products of
each basket components closing level on that date and its multiplier Upside participation rate: At least 100.00%. The actual upside participation rate will be determined on the pricing date. Listing: The notes will not be listed on any
securities exchange CUSIP: 17327T4W3 For questions, please call your Financial Advisor *The information listed above is not intended to be a complete description of all of the terms, risks and benefits of a particular investment. All maturities are
approximate. All terms in brackets are indicative only and will be set on the applicable pricing date. All returns and any principal amount due at maturity are subject to the applicable issuers credit risk, with the exception of the
Market-Linked Certificates of Deposit which have FDIC insurance, subject to applicable limitations. Please refer to the relevant investments offering documents and related material(s) for additional information