Obligation Citi Global Markets 0% ( US17324CMD55 ) en USD

Société émettrice Citi Global Markets
Prix sur le marché 100 %  ⇌ 
Pays  Etas-Unis
Code ISIN  US17324CMD55 ( en USD )
Coupon 0%
Echéance 29/09/2022 - Obligation échue



Prospectus brochure de l'obligation Citigroup Global Markets Holdings US17324CMD55 en USD 0%, échue


Montant Minimal 1 000 USD
Montant de l'émission 1 916 000 USD
Cusip 17324CMD5
Notation Standard & Poor's ( S&P ) N/A
Notation Moody's NR
Description détaillée Citigroup Global Markets Holdings est une filiale de Citigroup Inc. qui offre une gamme complète de services de marchés financiers, notamment des services de banque d'investissement, de courtage, de négociation de titres et de gestion des risques.

L'analyse rétrospective d'un instrument de dette spécifique révèle des détails sur une obligation émise par Citigroup Global Markets Holdings, désignée par le code ISIN US17324CMD55 et le code CUSIP 17324CMD5. L'émetteur, Citigroup Global Markets Holdings, est une entité clé au sein du groupe Citigroup Inc., l'une des principales banques d'investissement mondiales et un fournisseur de services financiers diversifiés. Cette filiale est spécifiquement impliquée dans les activités de marchés de capitaux, y compris l'émission de titres de dette et de produits structurés, pour le compte de Citigroup et de ses clients. L'obligation en question, émise aux États-Unis et libellée en dollars américains (USD), présentait la particularité notable d'un taux d'intérêt de 0%, la classant de fait comme une obligation à coupon zéro, où le rendement pour l'investisseur est généré par la différence entre le prix d'achat et le prix de remboursement à l'échéance. La taille totale de l'émission s'élevait à 1 916 000 USD, avec une taille minimale d'acquisition fixée à 1 000 USD par unité. Sa date de maturité était le 29 septembre 2022, et il est confirmé que cet instrument est arrivé à échéance et a été intégralement remboursé à sa valeur nominale, c'est-à-dire à 100% de son prix sur le marché au moment de sa rédemption. Concernant la notation de crédit, cette obligation a reçu une désignation "NR" (Not Rated) par l'agence de notation Moodys, indiquant qu'aucune évaluation formelle de sa solvabilité n'avait été rendue publique par cette agence. La fréquence de paiement des intérêts était indiquée comme 2, bien que, s'agissant d'une obligation à taux zéro, cela se réfère au paiement unique du principal à l'échéance. Cet instrument représente donc un exemple d'obligation de gré à gré ayant complété son cycle de vie financier, fournissant un cas d'étude clair d'un remboursement à terme pour un placement à coupon zéro.







424B2 1 dp81014_424b2-us1735823.htm PRICING SUPPLEMENT
Citigroup Global Markets Holdings Inc.
Se pt e m be r 2 6 , 2 0 1 7
M e dium -T e rm Se nior N ot e s, Se rie s N
Pric ing Supple m e nt N o. 2 0 1 7 -U SN CH 0 7 1 3
File d Pursua nt t o Rule 4 2 4 (b)(2 )
Re gist ra t ion St a t e m e nt N os. 3 3 3 -2 1 6 3 7 2 a nd
3 3 3 -2 1 6 3 7 2 -0 1
Enhanced Barrier Digital Plus Securities Based on the EURO STOXX 50® Index Due September 29, 2022
Ove rvie w
? The securities offered by this pricing supplement are unsecured senior debt securities issued by Citigroup Global Markets Holdings Inc. and guaranteed by
Citigroup Inc. Unlike conventional debt securities, the securities do not pay interest and do not repay a fixed amount of principal at maturity. Instead, the
securities offer a payment at maturity that may be greater than or less than the stated principal amount, depending on the performance of the EURO
STOXX 50® Index (the "underlying index") from the initial index level to the final index level.
? The securities offer modified exposure to the performance of the underlying index, with (i) a minimum positive return at maturity so long as the final index
level is greater than or equal to 80.00% of the initial index level and (ii) 1-to-1 participation in a limited range of appreciation of the underlying index in
excess of the minimum positive return. In exchange, investors in the securities must be willing to forgo any appreciation of the underlying index in excess
of the maximum return at maturity specified below and any dividends that may be paid on the stocks that constitute the underlying index. In addition,
investors in the securities must be willing to accept full downside exposure to the underlying index if the underlying index depreciates by more than
20.00%. I f t he unde rlying inde x de pre c ia t e s by m ore t ha n 2 0 .0 0 % from t he pric ing da t e t o t he va lua t ion da t e , you w ill lose
1 % of t he st a t e d princ ipa l a m ount of your se c urit ie s for e ve ry 1 % by w hic h t he fina l inde x le ve l is le ss t ha n t he init ia l
inde x le ve l. T he re is no m inim um pa ym e nt a t m a t urit y.
? In order to obtain the modified exposure to the underlying index that the securities provide, investors must be willing to accept (i) an investment that may
have limited or no liquidity and (ii) the risk of not receiving any amount due under the securities if we and Citigroup Inc. default on our obligations. All
pa ym e nt s on t he se c urit ie s a re subje c t t o t he c re dit risk of Cit igroup Globa l M a rk e t s H oldings I nc . a nd Cit igroup I nc .
K EY T ERM S

I ssue r:
Citigroup Global Markets Holdings Inc., a wholly owned subsidiary of Citigroup Inc.
Gua ra nt e e :
All payments due on the securities are fully and unconditionally guaranteed by Citigroup Inc.
U nde rlying inde x :
The EURO STOXX 50® Index (ticker symbol: "SX5E")
Aggre ga t e st a t e d princ ipa l
$1,916,000
a m ount :
St a t e d princ ipa l a m ount :
$1,000 per security
Pric ing da t e :
September 26, 2017
I ssue da t e :
September 29, 2017. See "Supplemental Plan of Distribution" in this pricing supplement.
V a lua t ion da t e :
September 26, 2022, subject to postponement if such date is not a scheduled trading day or if certain market
disruption events occur
M a t urit y da t e :
September 29, 2022
Pa ym e nt a t m a t urit y:
For each $1,000 stated principal amount security you hold at maturity:
? If the final index level is greater than or equal to the barrier level:
$1,000 + the greater of (i) the fixed return amount and (ii) $1,000 × the index percent increase, subject to the
maximum return at maturity
? If the final index level is less than the barrier level:
$1,000 × the index performance factor
I f t he fina l inde x le ve l is le ss t ha n t he ba rrie r le ve l, your pa ym e nt a t m a t urit y w ill be le ss,
a nd possibly signific a nt ly le ss, t ha n $ 8 0 0 .0 0 pe r se c urit y. Y ou should not inve st in t he
se c urit ie s unle ss you a re w illing a nd a ble t o be a r t he risk of losing a signific a nt port ion of
your inve st m e nt .
I nit ia l inde x le ve l:
3,536.38, the closing level of the underlying index on the pricing date
Fina l inde x le ve l:
The closing level of the underlying index on the valuation date
Fix e d re t urn a m ount :
$370.00 per security (37.00% of the stated principal amount). You will receive the fixed return amount only if the final
index level is greater than or equal to the barrier level.
I nde x pe rform a nc e fa c t or:
The final index level divided by the initial index level
I nde x pe rc e nt inc re a se :
The final index level minus the initial index level, divided by the initial index level
Ba rrie r le ve l:
2,829.104, 80.00% of the initial index level
M a x im um re t urn a t m a t urit y:
$700.00 per security (70.00% of the stated principal amount). Because of the maximum return at maturity, the
payment at maturity will not exceed $1,700.00 per security.
List ing:
The securities will not be listed on any securities exchange
CU SI P / I SI N :
17324CMD5 / US17324CMD55
U nde rw rit e r:
Citigroup Global Markets Inc. ("CGMI"), an affiliate of the issuer, acting as principal
U nde rw rit ing fe e a nd issue
I ssue pric e (1)(2)
U nde rw rit ing fe e (3)
Proc e e ds t o issue r
pric e :
Pe r se c urit y:
$1,000.00
$30.00
$970.00
T ot a l:
$1,916,000.00
$57,480.00
$1,858,520.00
(1) On the date of this pricing supplement, the estimated value of the securities is $920.80 per security, which is less than the issue price. The estimated
value of the securities is based on CGMI's proprietary pricing models and our 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 price, if any, at which CGMI or any other person may be willing to buy the securities from you at any time after
issuance. See "Valuation of the Securities" in this pricing supplement.
(2) The issue price for investors purchasing the securities in fee-based advisory accounts will be $970.00 per security, assuming no custodial fee is charged
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by a selected dealer, and up to $975.00 per security, assuming the maximum custodial fee is charged by a selected dealer. See "Supplemental Plan of
Distribution" in this pricing supplement.
(3) For more information on the distribution of the securities, see "Supplemental Plan of Distribution" in this pricing supplement. In addition to the
underwriting fee, CGMI and its affiliates may profit from hedging activity related to this offering, even if the value of the securities declines. See "Use of
Proceeds and Hedging" in the accompanying prospectus.
I nve st ing in t he se c urit ie s involve s risk s not a ssoc ia t e d w it h a n inve st m e nt in c onve nt iona l de bt se c urit ie s.
Se e "Sum m a ry Risk Fa c t ors" be ginning on pa ge PS-3 .
N e it he r t he Se c urit ie s a nd Ex c ha nge Com m ission nor a ny st a t e se c urit ie s c om m ission ha s a pprove d or disa pprove d of t he
se c urit ie s or de t e rm ine d t ha t t his pric ing supple m e nt a nd t he a c c om pa nying produc t supple m e nt , unde rlying supple m e nt ,
prospe c t us supple m e nt a nd prospe c t us is t rut hful or c om ple t e . Any re pre se nt a t ion t o t he c ont ra ry is a c rim ina l offe nse .
You should read this pricing supplement together with the accompanying product supplement, underlying supplement, prospectus supplement
and prospectus, each of which can be accessed via the hyperlinks below:
Produc t Supple m e nt N o. EA -0 2 -0 6 da t e d April 7 , 2 0 1 7 U nde rlying Supple m e nt N o. 6 da t e d April 7 , 2 0 1 7
Prospe c t us Supple m e nt a nd Prospe c t us, e a c h da t e d April 7 , 2 0 1 7
T he se c urit ie s a re not ba nk de posit s a nd a re not insure d or gua ra nt e e d by t he Fe de ra l De posit I nsura nc e Corpora t ion or a ny
ot he r gove rnm e nt a l a ge nc y, nor a re t he y obliga t ions of, or gua ra nt e e d by, a ba nk .


Citigroup Global Markets Holdings Inc.
Enhanced Barrier Digital Plus Securities Based on the EURO STOXX 50® Index Due September 29, 2022

Additional Information

The terms of the securities are set forth in the accompanying product supplement, prospectus supplement and prospectus, as
supplemented by this pricing supplement. The accompanying product supplement, prospectus supplement and prospectus contain
important disclosures that are not repeated in this pricing supplement. For example, certain events may occur that could affect your
payment at maturity. These events and their consequences are described in the accompanying product supplement in the sections
"Description of the Securities--Certain Additional Terms for Securities Linked to an Underlying Index--Consequences of a Market
Disruption Event; Postponement of a Valuation Date" and "--Discontinuance or Material Modification of an Underlying Index," and
not in this pricing supplement. The accompanying underlying supplement contains important disclosures regarding the underlying
index that are not repeated in this pricing supplement. It is important that you read the accompanying product supplement,
underlying supplement, prospectus supplement and prospectus together with this pricing supplement in connection with your
investment in the securities. Certain terms used but not defined in this pricing supplement are defined in the accompanying product
supplement.

Hypothetical Examples

The diagram below illustrates your payment at maturity for a range of hypothetical percentage changes from the initial index level to
the final index level.

I nve st ors in t he se c urit ie s w ill not re c e ive a ny divide nds on t he st oc k s t ha t c onst it ut e t he unde rlying inde x .
T he dia gra m a nd e x a m ple s be low do not show a ny e ffe c t of lost divide nd yie ld ove r t he t e rm of t he
se c urit ie s. See "Summary Risk Factors--Investing in the securities is not equivalent to investing in the underlying index or the
stocks that constitute the underlying index" below.

Enha nc e d Ba rrie r Digit a l Plus Se c urit ie s
Pa ym e nt a t M a t urit y Dia gra m
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The Securities The Underlying Index

Your actual payment at maturity per security will depend on the actual final index level. The examples below are intended to
illustrate how your payment at maturity will depend on whether the final index level is greater than or less than the initial index
level and by how much.

September 2017
PS-2
Citigroup Global Markets Holdings Inc.
Enhanced Barrier Digital Plus Securities Based on the EURO STOXX 50® Index Due September 29, 2022

Ex a m ple 1 --U pside Sc e na rio A. The hypothetical final index level is 3,713.20 (an approximately 5.00% increase from the
initial index level), which is gre a t e r t ha n the initial index level by le ss t ha n the fixed return of 37.00%.

Payment at maturity per security = $1,000 + the greater of (i) the fixed return amount and (ii) $1,000 × the index percent increase,
subject to the maximum return at maturity of $700.00 per security

= $1,000 + the greater of (i) $370.00 and (ii) $1,000 × 5.00%, subject to the maximum return at maturity of $700.00 per security

= $1,000 + $370.00, subject to the maximum return at maturity of $700.00 per security

= $1,370.00

Because the underlying index appreciated from the initial index level to the hypothetical final index level and the fixed return
amount is greater than the 5.00% return you would have received based on the performance of the underlying index, your total
return on the securities at maturity in this scenario would equal the fixed return of 37.00%.

Ex a m ple 2 --U pside Sc e na rio B. The hypothetical final index level is 6,188.67 (an approximately 75.00% increase from the
initial index level), which is gre a t e r t ha n the initial index level by m ore t ha n the fixed return of 37.00%.

Payment at maturity per security = $1,000 + the greater of (i) the fixed return amount and (ii) $1,000 × the index percent increase,
subject to the maximum return at maturity of $700.00 per security
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= $1,000 + the greater of (i) $370.00 and (ii) $1,000 × 75.00%, subject to the maximum return at maturity of $700.00 per security

= $1,000 + $750.00, subject to the maximum return at maturity of $700.00 per security

= $1,700.00

Because the underlying index appreciated from the initial index level to the hypothetical final index level and the 75.00% return
based on the performance of the underlying index is greater than the maximum return at maturity of 70.00%, your total return on
the securities at maturity in this scenario would equal the maximum payment at maturity of $1,700.00 per security. In this scenario,
an investment in the securities would underperform a hypothetical alternative investment providing 1-to-1 exposure to the positive
performance of the underlying index.

Ex a m ple 3 --U pside Sc e na rio C. The hypothetical final index level is 3,359.56 (an approximately 5.00% decrease from the
initial index level), which is le ss t ha n the initial index level but gre a t e r t ha n the barrier level.

Payment at maturity per security = $1,000 + the greater of (i) the fixed return amount and (ii) $1,000 × the index percent increase

= $1,000 + the greater of (i) $370.00 and (ii) $1,000 × -5.00%

= $1,000 + $370.00

= $1,370.00

Because the underlying index did not depreciate from the initial index level to the hypothetical final index level by more than
20.00%, your payment at maturity in this scenario would be equal to the fixed return of 37.00%, even though the hypothetical final
index level is less than the initial index level.

Ex a m ple 4 --Dow nside Sc e na rio. The hypothetical final index level is 1,060.91 (an approximately 70.00% decrease from the
initial index level), which is le ss t ha n the barrier level.

Payment at maturity per security = $1,000 × the index performance factor

= $1,000 × 30.00%

= $300.00

Because the underlying index depreciated from the initial index level to the hypothetical final index level by more than 20.00%, your
payment at maturity in this scenario would reflect 1-to-1 exposure to the negative performance of the underlying index.

Summary Risk Factors

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

The following is a summary of certain key risk factors for investors in the securities. You should read this summary together with
the more detailed description of risks relating to an investment in the securities contained in the section "Risk Factors Relating to
the Securities" beginning on page EA-6 in the accompanying product supplement. You should also carefully read the risk factors
included in the accompanying prospectus supplement and in the documents incorporated by reference in the accompanying
prospectus,

September 2017
PS-3
Citigroup Global Markets Holdings Inc.
Enhanced Barrier Digital Plus Securities Based on the EURO STOXX 50® Index Due September 29, 2022
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including Citigroup Inc.'s most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q, which
describe risks relating to the business of Citigroup Inc. more generally.

?
Y ou m a y lose som e or a ll of your inve st m e nt . Unlike conventional debt securities, the securities do not repay a fixed
amount of principal at maturity. Instead, your payment at maturity will depend on the performance of the underlying index. If the
final index level is less than the barrier level, you will lose 1% of the stated principal amount of the securities for every 1% by
which the final index level is less than the initial index level. There is no minimum payment at maturity on the securities, and
you may lose up to all of your investment.

?
T he ba rrie r fe a t ure of t he se c urit ie s e x pose s you t o pa rt ic ula r risk s. While you will receive a minimum positive
return if the underlying index does not depreciate from the initial index level to the final index level by more than 20.00%, if the
underlying index does depreciate by more than 20.00% and as a result the final index level is less than the barrier level, you
will lose 1% of the stated principal amount of the securities for every 1% depreciation of the underlying index, and you may lose
your entire investment in the securities.

?
T he se c urit ie s do not pa y int e re st . Unlike conventional debt securities, the securities do not pay interest or any other
amounts prior to maturity. You should not invest in the securities if you seek current income during the term of the securities.

?
Y our pot e nt ia l re t urn on t he se c urit ie s is lim it e d. Your potential total return on the securities at maturity is limited to
the maximum return at maturity of 70.00%, which is equivalent to a maximum return at maturity of $700.00 per security. Any
increase in the final index level over the initial index level by more than 70.00% will not increase your return on the securities.

?
I nve st ing in t he se c urit ie s is not e quiva le nt t o inve st ing in t he unde rlying inde x or t he st oc k s t ha t
c onst it ut e t he unde rlying inde x . You will not have voting rights, rights to receive dividends or other distributions or any
other rights with respect to the stocks that constitute the underlying index. As of September 26, 2017, the average dividend
yield of the underlying index was approximately 3.32% per year. While it is impossible to know the future dividend yield of the
underlying index, if this average dividend yield were to remain constant for the term of the securities, you would be forgoing an
aggregate yield of approximately 16.60% (assuming no reinvestment of dividends) by investing in the securities instead of
investing directly in the stocks that constitute the underlying index or in another investment linked to the underlying index that
provides for a pass-through of dividends. The payment scenarios described in this pricing supplement do not show any effect
of lost dividend yield over the term of the securities.

?
Y our pa ym e nt a t m a t urit y de pe nds on t he c losing le ve l of t he unde rlying inde x on a single da y. Because
your payment at maturity depends on the closing level of the underlying index solely on the valuation date, you are subject to
the risk that the closing level of the underlying index on that day may be lower, and possibly significantly lower, than on one or
more other dates during the term of the securities. If you had invested in another instrument linked to the underlying index that
you could sell for full value at a time selected by you, or if the payment at maturity were based on an average of closing levels
of the underlying index, you might have achieved better returns.

?
T he se c urit ie s a re subje c t t o t he c re dit risk of Cit igroup Globa l M a rk e t s H oldings I nc . a nd Cit igroup I nc .
If we default on our obligations under the securities and Citigroup Inc. defaults on its guarantee obligations, you may not
receive anything owed to you under the securities.

?
T he se c urit ie s w ill not be list e d on a ny se c urit ie s e x c ha nge a nd you m a y not be a ble t o se ll t he m prior
t o m a t urit y. The securities will not be listed on any securities exchange. Therefore, there may be little or no secondary
market for the securities. CGMI currently intends to make a secondary market in relation to the securities and to provide an
indicative bid price for the securities on a daily basis. Any indicative bid price for the securities provided by CGMI will be
determined in CGMI's sole discretion, taking into account prevailing market conditions and other relevant factors, and will not
be a representation by CGMI that the securities can be sold at that price, or at all. CGMI may suspend or terminate making a
market and providing indicative bid prices without notice, at any time and for any reason. If CGMI suspends or terminates
making a market, there may be no secondary market at all for the securities because it is likely that CGMI will be the only
broker-dealer that is willing to buy your securities prior to maturity. Accordingly, an investor must be prepared to hold the
securities until maturity.

?
T he e st im a t e d va lue of t he se c urit ie s on t he pric ing da t e , ba se d on CGM I 's proprie t a ry pric ing m ode ls
a nd our int e rna l funding ra t e , is le ss t ha n t he issue pric e . The difference is attributable to certain costs associated
with selling, structuring and hedging the securities that are included in the issue price. These costs include (i) the selling
concessions paid in connection with the offering of the securities, (ii) hedging and other costs incurred by us and our affiliates
in connection with the offering of the securities and (iii) the expected profit (which may be more or less than actual profit) to
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CGMI or other of our affiliates in connection with hedging our obligations under the securities. These costs adversely affect the
economic terms of the securities because, if they were lower, the economic terms of the securities would be more favorable to
you. The economic terms of the securities are also likely to be adversely affected by the use of our internal funding rate, rather
than our secondary market rate, to price the

September 2017
PS-4
Citigroup Global Markets Holdings Inc.
Enhanced Barrier Digital Plus Securities Based on the EURO STOXX 50® Index Due September 29, 2022

securities. See "The estimated value of the securities would be lower if it were calculated based on our secondary market rate"
below.

?
T he e st im a t e d va lue of t he se c urit ie s w a s de t e rm ine d for us by our a ffilia t e using proprie t a ry pric ing
m ode ls. CGMI derived the estimated value disclosed on the cover page of this pricing supplement from its proprietary pricing
models. In doing so, it may have made discretionary judgments about the inputs to its models, such as the volatility of the
underlying index, dividend yields on the stocks that constitute the underlying index and interest rates. CGMI's views on these
inputs may differ from your or others' views, and as an underwriter in this offering, CGMI's interests may conflict with yours.
Both the models and the inputs to the models may prove to be wrong and therefore not an accurate reflection of the value of
the securities. Moreover, the estimated value of the securities set forth on the cover page of this pricing supplement may differ
from the value that we or our affiliates may determine for the securities for other purposes, including for accounting purposes.
You should not invest in the securities because of the estimated value of the securities. Instead, you should be willing to hold
the securities to maturity irrespective of the initial estimated value.

?
T he e st im a t e d va lue of t he se c urit ie s w ould be low e r if it w e re c a lc ula t e d ba se d on our se c onda ry
m a rk e t ra t e . The estimated value of the securities included in this pricing supplement is calculated based on our internal
funding rate, which is the rate at which we are willing to borrow funds through the issuance of the securities. Our internal
funding rate is generally lower than our secondary market rate, which is the rate that CGMI will use in determining the value of
the securities for purposes of any purchases of the securities from you in the secondary market. If the estimated value included
in this pricing supplement were based on our secondary market rate, rather than our internal funding rate, it would likely be
lower. We determine our internal funding rate based on factors such as the costs associated with the securities, which are
generally higher than the costs associated with conventional debt securities, and our liquidity needs and preferences. Our
internal funding rate is not an interest rate that we will pay to investors in the securities, which do not bear interest.

Because there is not an active market for traded instruments referencing our outstanding debt obligations, CGMI determines
our secondary market rate based on the market price of traded instruments referencing the debt obligations of Citigroup Inc.,
our parent company and the guarantor of all payments due on the securities, but subject to adjustments that CGMI makes in its
sole discretion. As a result, our secondary market rate is not a market-determined measure of our creditworthiness, but rather
reflects the market's perception of our parent company's creditworthiness as adjusted for discretionary factors such as CGMI's
preferences with respect to purchasing the securities prior to maturity.

?
T he e st im a t e d va lue of t he se c urit ie s is not a n indic a t ion of t he pric e , if a ny, a t w hic h CGM I or a ny ot he r
pe rson m a y be w illing t o buy t he se c urit ie s from you in t he se c onda ry m a rk e t . Any such secondary market
price will fluctuate over the term of the securities based on the market and other factors described in the next risk factor.
Moreover, unlike the estimated value included in this pricing supplement, any value of the securities determined for purposes of
a secondary market transaction will be based on our secondary market rate, which will likely result in a lower value for the
securities than if our internal funding rate were used. In addition, any secondary market price for the securities will be reduced
by a bid-ask spread, which may vary depending on the aggregate stated principal amount of the securities to be purchased in
the secondary market transaction, and the expected cost of unwinding related hedging transactions. As a result, it is likely that
any secondary market price for the securities will be less than the issue price.

?
T he va lue of t he se c urit ie s prior t o m a t urit y w ill fluc t ua t e ba se d on m a ny unpre dic t a ble fa c t ors. The value
of your securities prior to maturity will fluctuate based on the level and volatility of the underlying index and a number of other
factors, including the price and volatility of the stocks that constitute the underlying index, the dividend yields on the stocks that
constitute the underlying index, interest rates generally, the volatility of the exchange rate between the U.S. dollar and the euro,
the correlation between that exchange rate and the level of the underlying index, the time remaining to maturity and our and
Citigroup Inc.'s creditworthiness, as reflected in our secondary market rate. Changes in the level of the underlying index may
not result in a comparable change in the value of your securities. You should understand that the value of your securities at
any time prior to maturity may be significantly less than the issue price.
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?
I m m e dia t e ly follow ing issua nc e , a ny se c onda ry m a rk e t bid pric e provide d by CGM I , a nd t he va lue t ha t
w ill be indic a t e d on a ny brok e ra ge a c c ount st a t e m e nt s pre pa re d by CGM I or it s a ffilia t e s, w ill re fle c t a
t e m pora ry upw a rd a djust m e nt . The amount of this temporary upward adjustment will steadily decline to zero over the
temporary adjustment period. See "Valuation of the Securities" in this pricing supplement.

?
T he unde rlying inde x is subje c t t o risk s a ssoc ia t e d w it h non -U .S. m a rk e t s. Investments in securities linked to
the value of non-U.S. stocks involve risks associated with the securities markets in those countries, including risks of volatility
in those markets, governmental intervention in those markets and cross shareholdings in companies in certain countries. Also,
there is generally less publicly available information about companies in some of these jurisdictions than about U.S. companies
that are subject to the reporting requirements of the SEC. Further, non-U.S. companies are generally subject to accounting,
auditing and financial reporting standards and requirements and securities trading rules that are different from those applicable
to U.S. reporting companies. The prices of securities in foreign markets may be affected by political, economic, financial and
social factors in those

September 2017
PS-5
Citigroup Global Markets Holdings Inc.
Enhanced Barrier Digital Plus Securities Based on the EURO STOXX 50® Index Due September 29, 2022

countries, or global regions, including changes in government, economic and fiscal policies and currency exchange laws.
Moreover, the economies in such countries may differ favorably or unfavorably from the economy of the United States in such
respects as growth of gross national product, rate of inflation, capital reinvestment, resources and self-sufficiency.

?
T he unde rlying inde x pe rform a nc e w ill not be a djust e d for c ha nge s in t he e x c ha nge ra t e be t w e e n t he
e uro a nd t he U .S. dolla r. The underlying index is composed of stocks traded in euro, the value of which may be subject to
a high degree of fluctuation relative to the U.S. dollar. However, the performance of the underlying index and the value of your
securities will not be adjusted for exchange rate fluctuations. If the euro appreciates relative to the U.S. dollar over the term of
the securities, your return on the securities will underperform an alternative investment that offers exposure to that appreciation
in addition to the change in the level of the underlying index.

?
Our offe ring of t he se c urit ie s doe s not c onst it ut e a re c om m e nda t ion of t he unde rlying inde x . The fact that
we are offering the securities does not mean that we believe that investing in an instrument linked to the underlying index is
likely to achieve favorable returns. In fact, as we are part of a global financial institution, our affiliates may have positions
(including short positions) in the stocks that constitute the underlying index or in instruments related to the underlying index or
such stocks over the term of the securities and may publish research or express opinions, that in each case are inconsistent
with an investment linked to the underlying index. These and other activities of our affiliates may affect the level of the
underlying index in a way that has a negative impact on your interests as a holder of the securities.

?
T he le ve l of t he unde rlying inde x m a y be a dve rse ly a ffe c t e d by our or our a ffilia t e s' he dging a nd ot he r
t ra ding a c t ivit ie s. We have hedged our obligations under the securities through CGMI or other of our affiliates, who have
taken positions directly in the stocks that constitute the underlying index and other financial instruments related to the
underlying index or such stocks and may adjust such positions during the term of the securities. Our affiliates also trade the
stocks that constitute the underlying index and other financial instruments related to the underlying index or such stocks on a
regular basis (taking long or short positions or both), for their accounts, for other accounts under their management or to
facilitate transactions on behalf of customers. These activities could affect the level of the underlying index in a way that
negatively affects the value of the securities. They could also result in substantial returns for us or our affiliates while the value
of the securities declines.

?
We a nd our a ffilia t e s m a y ha ve e c onom ic int e re st s t ha t a re a dve rse t o yours a s a re sult of our a ffilia t e s'
busine ss a c t ivit ie s. Our affiliates may currently or from time to time engage in business with the issuers of the stocks that
constitute the underlying index, including extending loans to, making equity investments in or providing advisory services to
such issuers. In the course of this business, we or our affiliates may acquire non-public information about such issuers, which
we will not disclose to you. Moreover, if any of our affiliates is or becomes a creditor of any such issuer, they may exercise any
remedies against such issuer that are available to them without regard to your interests.

?
T he c a lc ula t ion a ge nt , w hic h is a n a ffilia t e of ours, w ill m a k e im port a nt de t e rm ina t ions w it h re spe c t t o
t he se c urit ie s. If certain events occur, such as market disruption events or the discontinuance of the underlying index,
CGMI, as calculation agent, will be required to make discretionary judgments that could significantly affect your payment at
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maturity. In making these judgments, the calculation agent's interests as an affiliate of ours could be adverse to your interests
as a holder of the securities.

?
Adjust m e nt s t o t he unde rlying inde x m a y a ffe c t t he va lue of your se c urit ie s. STOXX Limited (the "underlying
index publisher") may add, delete or substitute the stocks that constitute the underlying index or make other methodological
changes that could affect the level of the underlying index. The underlying index publisher may discontinue or suspend
calculation or publication of the underlying index at any time without regard to your interests as holders of the securities.

?
T he U .S. fe de ra l t a x c onse que nc e s of a n inve st m e nt in t he se c urit ie s a re unc le a r. There is no direct legal
authority regarding the proper 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, significant aspects of the tax treatment of the securities are uncertain, and
the IRS or a court might not agree with the treatment of the securities as prepaid forward contracts. If the IRS were successful
in asserting an alternative treatment of the securities, the tax consequences of the ownership and disposition of the securities
might be materially and adversely affected. As described below under "United States Federal Tax Considerations," in 2007, the
U.S. Treasury Department and the IRS released a notice requesting comments on various issues regarding the U.S. federal
income tax treatment of "prepaid forward contracts" and similar instruments. Any Treasury regulations or other guidance
promulgated after consideration of these issues could materially and adversely affect the tax consequences of an investment in
the securities, including the character and timing of income or loss and the degree, if any, to which income realized by non-
U.S. persons should be subject to withholding tax, possibly with retroactive effect.

In addition, Section 871(m) of the Internal Revenue Code of 1986, as amended (the "Code"), imposes a withholding tax of up
to 30% on "dividend equivalents" paid or deemed paid to non-U.S. investors in respect of certain financial instruments linked to
U.S. equities. In light of IRS regulations providing a general exemption for financial instruments issued in 2017 that do not have
a "delta" of one, the securities should not be subject to withholding under Section 871(m). However, the IRS could challenge
this

September 2017
PS-6
Citigroup Global Markets Holdings Inc.
Enhanced Barrier Digital Plus Securities Based on the EURO STOXX 50® Index Due September 29, 2022

conclusion. If withholding applies to the securities, we will not be required to pay any additional amounts with respect to
amounts withheld.

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

Information About the Underlying Index

The EURO STOXX 50® Index is composed of 50 component stocks of market sector leaders from within the 19 EURO STOXX®
Supersector indices, which represent the Eurozone portion of the STOXX Europe 600® Supersector indices. The STOXX Europe
600® Supersector indices contain the 600 largest stocks traded on the major exchanges of 18 European countries. The EURO
STOXX 50® Index is reported by Bloomberg L.P. under the ticker symbol "SX5E."

STOXX Limited ("STOXX") and its licensors and CGMI have entered into a non-exclusive license agreement providing for the
license to CGMI and its affiliates, in exchange for a fee, of the right to use the EURO STOXX 50® Index, which is owned and
published by STOXX, in connection with certain financial instruments, including the securities. For more information, see "Equity
Index Descriptions--The EURO STOXX 50® Index--License Agreement" in the accompanying underlying supplement.

Please refer to the section "Equity Index Descriptions--The EURO STOXX 50 ® Index" in the accompanying underlying supplement
for important disclosures regarding the underlying index.

Historical Information

The closing level of the underlying index on September 26, 2017 was 3,536.38.
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The graph below shows the closing levels of the underlying index for each day such level was available from January 2, 2012 to
September 26, 2017. We obtained the closing levels from Bloomberg L.P., without independent verification. Y ou should not
t a k e t he hist oric a l le ve ls of t he unde rlying inde x a s a n indic a t ion of fut ure pe rform a nc e .

EU RO ST OX X 5 0 ® I nde x ­ H ist oric a l Closing Le ve ls
J a nua ry 2 , 2 0 1 2 t o Se pt e m be r 2 6 , 2 0 1 7
* The red line indicates the barrier level of 2,829.104, equal to 80.00% of the closing level on September 26, 2017.

September 2017
PS-7
Citigroup Global Markets Holdings Inc.
Enhanced Barrier Digital Plus Securities Based on the EURO STOXX 50® Index Due September 29, 2022

United States Federal Tax Considerations

You should read carefully the discussion under "United States Federal Tax Considerations" and "Risk Factors Relating to the
Securities" in the accompanying product supplement and "Summary Risk Factors" in this pricing supplement.

In the opinion of our counsel, Davis Polk & Wardwell LLP, which is based on current market conditions, a security should be
treated as a prepaid forward contract for U.S. federal income tax purposes. By purchasing a security, you agree (in the absence of
an administrative determination or judicial ruling to 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 and subject to the discussion in "United States Federal Tax Considerations"
in the accompanying product supplement, the following U.S. federal income tax consequences should result under current law:

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

·
Upon a sale or exchange of a security (including retirement at maturity), you should recognize capital gain or loss equal to
the difference between the amount realized and your tax basis in the security. Such gain or loss should be long-term
capital gain or loss if you held the security for more than one year.

Subject to the discussions below under "Possible Withholding Under Section 871(m) of the Code" and in "United States Federal
Tax Considerations" in the accompanying product supplement, if you are a Non-U.S. Holder (as defined in the accompanying
product supplement) of the securities, you generally should not be subject to U.S. federal withholding or income tax in respect of
any amount paid to you with respect to the securities, provided that (i) income in respect of the securities is not effectively
connected with your conduct of a trade or business in the United States, and (ii) you comply with the applicable certification
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requirements.

In 2007, the U.S. Treasury Department and the IRS released a notice requesting comments on the U.S. federal income tax
treatment of "prepaid forward contracts" and similar instruments. The notice focuses in particular on whether to require holders of
these instruments to accrue income over the term of their investment. It also asks for comments on a number of related topics,
including the character of income or loss with respect to these instruments; whether short-term instruments should be subject to
any such accrual regime; the relevance of factors such as the exchange-traded status of the instruments and the nature of the
underlying property to which the instruments are linked; the degree, if any, to which income (including any mandated accruals)
realized by non-U.S. investors should be subject to withholding tax; and whether these instruments are or should be subject to the
"constructive ownership" regime, which very generally can operate to recharacterize certain long-term capital gain as ordinary
income and impose an interest charge. While the notice requests comments on appropriate transition rules and effective dates, any
Treasury regulations or other guidance promulgated after consideration of these issues could materially and adversely affect the tax
consequences of an investment in the securities, including the character and timing of income or loss and the degree, if any, to
which income realized by non-U.S. persons should be subject to withholding tax, possibly with retroactive effect.

Possible Wit hholding U nde r Se c t ion 8 7 1 (m ) of t he Code . As discussed under "United States Federal Tax Considerations
--Tax Consequences to Non-U.S. Holders" in the accompanying product supplement, Section 871(m) of the Code and Treasury
regulations promulgated thereunder ("Section 871(m)") generally impose a 30% withholding tax on dividend equivalents paid or
deemed paid to Non-U.S. Holders with respect to certain financial instruments linked to U.S. equities ("U.S. Underlying Equities") or
indices that include U.S. Underlying Equities. Section 871(m) generally applies to instruments that substantially replicate the
economic performance of one or more U.S. Underlying Equities, as determined based on tests set forth in the applicable Treasury
regulations (a "Specified Security"). However, the regulations exempt financial instruments issued in 2017 that do not have a "delta"
of one. Based on the terms of the securities and representations provided by us, our counsel is of the opinion that the securities
should not be treated as transactions that have a "delta" of one within the meaning of the regulations with respect to any U.S.
Underlying Equity and, therefore, should not be Specified Securities subject to withholding tax under Section 871(m).

A determination that the securities are not subject to Section 871(m) is not binding on the IRS, and the IRS may disagree with this
treatment. Moreover, Section 871(m) is complex and its application may depend on your particular circumstances. For example, if
you enter into other transactions relating to a U.S. Underlying Equity, you could be subject to withholding tax or income tax liability
under Section 871(m) even if the securities are not Specified Securities subject to Section 871(m) as a general matter. You should
consult your tax adviser regarding the potential application of Section 871(m) to the securities.

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

Y ou should re a d t he se c t ion e nt it le d "U nit e d St a t e s Fe de ra l T a x Conside ra t ions" in t he a c c om pa nying
produc t supple m e nt . T he pre c e ding disc ussion, w he n re a d in c om bina t ion w it h t ha t se c t ion, c onst it ut e s t he
full opinion of Da vis Polk & Wa rdw e ll LLP re ga rding t he m a t e ria l U .S. fe de ra l t a x c onse que nc e s of ow ning
a nd disposing of t he se c urit ie s.

Y ou should a lso c onsult your t a x a dvise r re ga rding a ll a spe c t s of t he U .S. fe de ra l inc om e a nd e st a t e t a x
c onse que nc e s of a n inve st m e nt in t he se c urit ie s a nd a ny t a x c onse que nc e s a rising unde r t he la w s of a ny
st a t e , loc a l or non -U .S. t a x ing jurisdic t ion.

September 2017
PS-8
Citigroup Global Markets Holdings Inc.
Enhanced Barrier Digital Plus Securities Based on the EURO STOXX 50® Index Due September 29, 2022

Supplemental Plan of Distribution

CGMI, an affiliate of Citigroup Global Markets Holdings Inc. and the underwriter of the sale of the securities, is acting as principal
and will receive an underwriting fee of $30.00 for each $1,000 security sold in this offering (or up to $5.00 per security in the case
of sales to fee-based advisory accounts). From this underwriting fee, CGMI will pay selected dealers not affiliated with CGMI a
fixed selling concession of $30.00 for each $1,000 security they sell to accounts other than fee-based advisory accounts. CGMI will
pay selected dealers not affiliated with CGMI, which may include dealers acting as custodians, a variable selling concession of up
to $5.00 for each $1,000 security they sell to fee-based advisory accounts. Broker-dealers affiliated with CGMI, including Citi
International Financial Services, Citigroup Global Markets Singapore Pte. Ltd. and Citigroup Global Markets Asia Limited, will
receive a fixed selling concession, and financial advisers employed by such affiliated broker-dealers will receive a fixed selling
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Document Outline