花旗集团美股招股说明书(2026-03-16版)

The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricing supplement andthe accompanying product supplement, underlying supplement, prospectus supplement and prospectus are not an offer to sell thesesecurities, nor are they soliciting an offer to buy these securities, in any state where the offer or sale is not permitted. March, 2026Medium-Term Senior Notes, Series NPricing Supplement No. 2026-USNCH30989 to Product Supplement No. EA-08-03dated February 25, 2026, Underlying Supplement No. 13 dated February 25, 2026andProspectus Supplement and Prospectus each dated February 25, 2026 Citigroup Global Markets Holdings Inc. All Payments Due from Citigroup Global Markets Holdings Inc. Fully and Unconditionally Guaranteed byCitigroup Inc. Market Linked Securities—Auto-Callable with Contingent Coupon and Principal at Risk Securities Linked to the Lowest Performing of the Nasdaq-100 Index® Index and the S&P 500®Index due March 29, 2029 Linked to thelowest performingof the Nasdaq-100 Index® , the Russell 2000®(each referred to as an “underlying”) Unlike ordinary debt securities, the securities do not provide for fixed payments of interest, do not repay a fixedamount of principal at maturity and are subject to potential automatic redemption prior to maturity upon the termsdescribed below.Whether the securities pay a contingent coupon, whether the securities are automaticallyredeemed prior to maturity and, if they are not automatically redeemed, whether you are repaid the stated principal or automatic redemption if,and only if, the closing value of the lowest performing underlying on the relevantcalculation day is greater than or equal to its coupon threshold value.However, if the closing value of the lowestperforming underlying on a calculation day is less than its coupon threshold value, you will not receive anycontingent coupon on the relevant contingent coupon date.If the closing value of the lowest performing underlyingis less than its coupon threshold value on every calculation day, you will not receive any contingent coupons fromSeptember 2026 to February 2029,inclusive,is greater than or equal to its starting value,we willautomatically redeem the securities for the stated principal amountplusthe related contingent coupon payment stated principal amount at maturity if,and only if, the closing value of the lowest performing underlying on the finalcalculation day is greater than or equal to its downside threshold value.If the closing value of the lowestperforming underlying on the final calculation day is less than its downside threshold value, you will lose asignificant portion, and possibly all, of the stated principal amount of your securities If the securities are not automatically redeemed prior to maturity, you will have full downside exposure to thelowest performing underlying from its starting value if its closing value on the final calculation day is less than itsdownside threshold value, but you will not participate in any appreciation of any underlying and will not receive anydividends on securities included in any underlying underlying on each calculation day.You will not benefit in any way from the performance of any better performingunderlying.Therefore, you will be adversely affected if any underlying performs poorly, even if any otherunderlying performs favorably Inc.; if Citigroup Global Markets Holdings Inc. and Citigroup Inc. default on their obligations, you could lose someor all of your investmentThe securities will not be listed on any securities exchange and, accordingly, may have limited or no liquidity.Youshould not invest in the securities unless you are willing to hold them to maturity The securities have complex features and investing in the securities involves risks not associated withan investment in conventional debt securities. See “Summary Risk Factors” beginning on page PS-9and “Risk Factors” beginning on page PS-5 of the accompanying product supplement and beginning Neither the Securities and Exchange Commission (the “SEC”) nor any state securities commission has approvedor disapproved of the securities or determined that this pricing supplement or the accompanying productsupplement, underlying supplement, prospectus supplement and prospectus are truthful or complete. Any The securities are unsecured debt obligations issued by Citigroup Global Markets Holdings Inc. and guaranteedby Citigroup Inc. All payments due on the securities are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc. None of Wells Fargo Securities, LLC (“Wells Fargo”) or any of its affiliates willhave any liability to the purchasers of the securities in the event Citigroup Global Markets Holdings Inc. defaultson its obligations under the securities and Citigroup Inc. defaults on its guarantee obligations.The securities are (1) Citigroup Global Markets Holdings Inc. currently expects that the est