Company: FCNCB
Filing Date: 2025-03-07
Form Type: 424B5
Source: 0001193125-25-049895
Chunk: 65

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-03-07
Form: 424B5
Chunk 65
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 12, 2035 (the
“subordinated notes reset date”) or the date of earlier redemption, the subordinated notes will bear interest at an initial fixed rate of 6.254% per annum. From (and including) the subordinated notes reset date to (but excluding) the
subordinated notes maturity date or the date of earlier redemption, the subordinated notes will bear interest at a fixed rate per annum that will be the Five-year U.S. Treasury Rate as of the day falling two Business Days prior to the subordinated
notes reset date (the “subordinated notes reset determination date”), plus 197 basis points per annum. Interest on the subordinated notes will be payable semi-annually in arrears on March 12 and September 12 of each year and on the
subordinated notes maturity date and any redemption date (each, a “subordinated notes interest payment date”), commencing on September 12, 2025, and ending on the subordinated notes maturity date or date of earlier redemption.

The “Five-year U.S. Treasury Rate” means, as of the subordinated notes reset determination date, the average of the yields on
actively traded United States Treasury securities adjusted to constant maturity, for five-year maturities, for the five Business Days immediately preceding the subordinated notes reset determination date
appearing under the caption “Treasury Constant Maturities” in the most recently published statistical release designated H.15 or any successor publication which is published by the Federal Reserve as of 5:00 p.m. (Eastern Time) as of any
date of determination, as determined by the calculation agent in its sole discretion. If no calculation is provided as described above, then the calculation agent will notify us and we (or our designee), after consulting such sources as we (or our
designee) deem comparable to the foregoing calculations, or any such source as we (or our designee) deem reasonable from which to estimate the five-year treasury rate, shall determine the Five-year U.S. Treasury Rate in our sole discretion, provided
that if we (or our designee) determine there is an industry-accepted successor Five-year U.S. Treasury Rate, then we (or our designee) shall use such successor rate. If we (or our designee), in our sole discretion, determine that there is no
reasonable comparable source, then the Five-year U.S. Treasury Rate on the subordinated notes reset determination date will be 4.284%,