Preliminary Terms
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Underlying index:
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The EURO STOXX 50® Index (ticker symbol: “SX5E”)
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Pricing date:
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Expected to be February 20, 2015
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Final valuation dates:
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Expected to be August 15, 16, 17, 18 and 19, 2016
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Maturity date:
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Expected to be August 24, 2016
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Payment at maturity:
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For each $1,000 stated principal amount security you hold at maturity:
▪ If the final index level is greater than the initial index level: $1,000 + return amount
▪ If the final index level is less than or equal to the initial index level but greater than or equal to the barrier level: $1,000
▪ If the final index level is less than the barrier level: $1,000 × index performance factor
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Initial index level:
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The closing level of the underlying index on the pricing date
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Final index level:
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The arithmetic average of the closing level of the underlying index on each of the final valuation dates
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Index performance factor:
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The final index level divided by the initial index level
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Index percent increase:
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The final index level minus the initial index level, divided by the initial index level
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Return amount:
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$1,000 × the index percent increase × the upside participation rate
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Upside participation rate:
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100.00%
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Barrier level:
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78.10% of the initial index level
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This offering summary does not contain all of the material information an investor should consider before investing in the securities. This offering summary is not for distribution in isolation and must be read together with the accompanying preliminary pricing supplement and the other documents referred to therein, which can be accessed via the following hyperlink:
Preliminary Pricing Supplement dated February 18, 2015
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Selected Risk Considerations
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· You may lose some or all of your investment. If the final index level is less than the barrier level, the contingent buffer against a limited range of potential depreciation of the underlying index offered by the securities will not apply and 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. The securities offer no protection at all if the underlying index depreciates by more than 21.90%.
· The securities do not pay interest.
· Investing in the securities is not equivalent to investing in the underlying index or the stocks that constitute the underlying index. You will not have voting rights, rights to receive dividends or any other rights with respect to the stocks that constitute the underlying index.
· The securities are subject to the credit risk of Citigroup Inc. If Citigroup Inc. defaults on its obligations under the securities, you may not receive anything owed to you under the securities.
· The securities will not be listed on a securities exchange and you may not be able to sell them prior to maturity.
· The estimated value of the securities on the pricing date will be less than the issue price. For more information about the estimated value of the securities, see the accompanying preliminary pricing supplement.
· The value of the securities prior to maturity is likely to be less than the issue price and will fluctuate based on many unpredictable factors.
· The underlying index is subject to risks associated with the Eurozone.
· The underlying index performance will not be adjusted for changes in the exchange rate between the Euro and the U.S. dollar.
· Citigroup Inc. and its affiliates, and the placement agents and their affiliates, may have conflicts of interest with you.
· The U.S. federal tax consequences of an investment in the securities are unclear.
The above summary of selected risks does not describe all of the risks associated with an investment in the securities. You should read the accompanying preliminary pricing supplement and product supplement for a more complete description of risks relating to the securities.
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Hypothetical Payment at Maturity Diagram*
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n The Securities
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n The Underlying Index
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Hypothetical Payment at Maturity Table*
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Hypothetical Final Index Level
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Hypothetical Percentage Change from Initial Index Level to Final Index Level
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Hypothetical Payment at Maturity per Security
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Hypothetical Total Return on Securities at Maturity
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6,800.00
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100.00%
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$2,000.00
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100.00%
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5,780.00
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70.00%
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$1,700.00
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70.00%
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5,440.00
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60.00%
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$1,600.00
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60.00%
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5,100.00
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50.00%
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$1,500.00
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50.00%
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4,760.00
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40.00%
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$1,400.00
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40.00%
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4,420.00
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30.00%
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$1,300.00
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30.00%
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4,080.00
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20.00%
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$1,200.00
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20.00%
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3,740.00
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10.00%
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$1,100.00
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10.00%
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3,400.00
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0.00%
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$1,000.00
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0.00%
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3,060.00
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-10.00%
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$1,000.00
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0.00%
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2,720.00
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-20.00%
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$1,000.00
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0.00%
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2,655.40
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-21.90%
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$1,000.00
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0.00%
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2,655.06
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-21.91%
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$780.90
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-21.91%
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2,380.00
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-30.00%
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$700.00
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-30.00%
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1,700.00
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-50.00%
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$500.00
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-50.00%
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1,020.00
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-70.00%
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$300.00
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-70.00%
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0.00
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–100.00%
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$0.00
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–100.00%
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