Company: CFG-PE
Filing Date: 2025-07-23
Form Type: 424B2
Source: 0001193125-25-163534
Chunk: 31

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-07-23
Form: 424B2
Chunk 31
---
 rate comparable to the then-applicable base rate (which, as of the date of original issuance of the Series I Preferred Stock, is the initial base rate) in each case, in a manner that is consistent with industry-accepted practices for the use of such successor rate (the “ Adjustments”). If Citizens, in its sole discretion, does not designate a Designee or if the Designee determines that there is no industry-accepted successor rate to then-applicable base rate, then the Five-year U.S. Treasury Rate will be the same rate determined for the prior reset dividend determination date or, if this sentence is applicable with respect to the first reset dividend determination date, a rate equal to the initial fixed rate minus the spread. A “ dividend reset date” means the first dividend reset date and each date falling on the fifth anniversary of the preceding dividend reset date. Dividend reset dates, including the first dividend reset date, will not be adjusted for business days. “ H.15” means the daily statistical release designated as such, or any successor publication, published by the FRB or any successor. A “ reset dividend determination date” means, in respect of any dividend reset period, the day falling two business days prior to the beginning of such dividend reset period. A “ dividend reset period” means the period from and including the first dividend reset date to, but excluding, the next following dividend reset date and thereafter each period from and including each dividend reset date to, but excluding, the next following dividend reset date. The applicable dividend rate for each dividend reset period will be determined by the calculation agent, as of the applicable reset dividend determination date. Promptly upon such determination, the calculation agent will notify us and the Depositary of the dividend rate for the dividend reset period. The calculation agent’s determination of any dividend rate and, if applicable, its calculation of the amount of dividends for any dividend period beginning on or after October 6, 2030, and a record maintained by Citizens of any Benchmark Substitution Event and any Adjustments, will be on file at our principal offices, will be made available to any holder of Series I Preferred Stock upon request and will be final and binding in the absence of manifest error. For the avoidance of doubt, any determination by Citizens or a Designee pursuant to the second paragraph of the definition of Five-year Treasury Rate (including, without limitation, with respect to any Benchmark Substitution Event or any Adjustments) will not be subject to the vote or consent of the holders of the Series I Preferred Stock