Citigroup Announces the Early Redemption of Three Series of C-Tracks ETNs - Seite 2

The last day of trading for the C-Tracks ETNs is expected to be October 30, 2020.

Currently, holders of any series of C-Tracks ETNs who wish to exercise their early redemption right are generally required to redeem a minimum number of C-Tracks ETNs of the same series and may be subject to an early redemption charge. After the close of trading on October 19, 2020, Citigroup and CGMHI will irrevocably waive the required minimum redemption amount and the early redemption charge for the respective C-Tracks ETNs.

As described in the pricing supplements for DIVC and MLPC, Citigroup discontinued further issuances of DIVC and MLPC in 2015. Following that discontinuance, Citigroup’s affiliate, Citigroup Global Markets Inc. (“CGMI”), continued to sell previously issued units of DIVC and MLPC that it held in inventory from time to time. As of the date of this press release, CGMI does not hold any units of DIVC in inventory and, as a result, does not expect to sell any additional units of DIVC. It is possible that the discontinuance of additional sales of DIVC may influence the market value of DIVC. If any premium develops above the closing or intraday indicative value of DIVC, any such premium may subsequently decrease at any time and for any reason, resulting in financial loss to sellers who paid this premium. The amount paid upon redemption will be based on the closing indicative value of the ETNs and will not reflect any premium. Investors should always consult their financial advisors before purchasing or selling the ETNs, especially ETNs with premium characteristics.

None of the other ETNs offered by Citigroup or CGMHI are affected by this announcement.

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