Form FWP CITIGROUP INC Filed by: CITIGROUP INC

4.140% per annum, payable semiannually in arrears on each May 24 and November 24, beginning on November 24, 2022, from, and including, the Settlement Date to, but excluding, May 24, 2024 (the “fixed rate period”).

Following business day convention during the fixed rate period. Business days during fixed rate period New York.

From, and including, May 24, 2024 (the “floating rate period”), an annual floating rate equal to SOFR (as defined in the Issuer’s base prospectus dated May 11, 2021 (the “Prospectus”) and compounding daily over each interest period as described in the Prospectus) plus 1.372%, payable quarterly in arrears, on the second business day following each interest period end date, beginning on August 27, 2024 and ending at Maturity or any earlier redemption date. An “interest period end date” means the 24^th of each February, May, August and November, beginning on August 24, 2024 and ending at Maturity or any earlier redemption date.

Modified following business day convention during the floating rate period. Business days during floating rate period New York and U.S. Government Securities Business (as defined in the Prospectus).

We may redeem the notes, at our option, in whole at any time or in part from time to time, on or after November 24, 2022 (or if additional notes are issued after May 24, 2022, beginning six months after the issue date of such additional notes) and prior to May 24, 2024 at a redemption price equal to the sum of (i) 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest thereon to, but excluding, the date of redemption; and (ii) the Make-Whole Amount (as defined in the Prospectus), if any, with respect to such notes. The Reinvestment Rate (as defined in the Prospectus) will equal the Treasury Yield defined therein calculated to May 24, 2024, plus 0.220%.

We may redeem the notes, at our option, (i) in whole, but not in part, on May 24, 2024, or (ii) in whole at any time or in part from time to time, on or after April 24, 2025 at a redemption price equal to the sum of 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest thereon to, but excluding, the date of redemption.

SOFR for each calendar day from, and including, the Rate Cut-Off Date to, but excluding, the redemption date will equal SOFR in respect of the Rate Cut-Off Date

We may redeem the notes, at our option, in whole at any time, but not in part at a redemption price equal to 100% of the principal amount of the notes plus accrued and unpaid interest thereon to, but excluding, the date of redemption, if, as a result of changes in U.S. tax law, withholding tax or information reporting requirements are imposed on payments on the notes to non-U.S. persons.

SOFR for each calendar day from, and including, the Rate Cut-Off Date to, but excluding, the redemption date will equal SOFR in respect of the Rate Cut-Off Date.

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Note: A securities rating is not a recommendation to buy, sell, or hold securities and may be subject to revision or withdrawal at any time.