Citigroup Global Markets Holdings Inc.
Guaranteed by Citigroup Inc.
Hypothetical Payment at Maturity per Security
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Filed Pursuant to Rule 424(b)(2)
Registration No. 333-277211
August 26, 2026
PRICING SUPPLEMENT
(To Prospectus dated February 21, 2024,
Prospectus Supplement dated February 21, 2024 and
Stock-Linked Underlying Supplement dated February 21, 2024)
HSBC USA Inc.
$75,000
Autocallable Contingent Income Barrier Notes with Memory Coupon
Linked to the Least Performing of the Equity Securities of Tesla, Inc. and NVIDIA Corporation (the "Reference Asset")
The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricing supplement is not an offer to sell nor does it seek an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.Subject to completion dated August 26, 2026
September , 2026
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