Company: CFG-PE
Filing Date: 2025-07-23
Form Type: 424B2
Source: 0001193125-25-163534
Chunk: 11

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-07-23
Form: 424B2
Chunk 11
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 Fixed-Rate Reset Non-Cumulative Perpetual Preferred                                                                                          
 Stock, Series I, with a liquidation preference $1,000 per share (equivalent to $25 per Depositary Share) (the “Series I Preferred Stock”). Each holder of a Depositary Share will be entitled, through the depositary, to all the rights          
 and preferences of the shares of Series I Preferred Stock represented thereby (including dividend, voting, redemption and liquidation rights) in proportion to the applicable fraction of a share of Series I Preferred Stock represented by such 
 Depositary Share.                                                                                                                                                                                                                                 |

| We may from time to time elect to issue additional shares of the Series I Preferred Stock and related Depositary Shares, and all such additional shares of Series I Preferred Stock and the related Depositary Shares would                              
 be deemed to form a single series with the shares of Series I Preferred Stock and the related Depositary Shares, respectively, offered by this prospectus supplement, provided that such additional shares will only be issued if they are fungible with 
 the original shares for tax purposes.                                                                                                                                                                                                                    |

| Dividends: | We will pay dividends on the Series I Preferred Stock, only when, as and if declared by our board of directors (or a duly authorized committee of the board). |

| Dividends will accrue on the stated amount of $1,000 per share of the Series I Preferred Stock (the “stated amount”) (equivalent to $25 per Depositary Share) (i) from the date of original issue to,                          
 but excluding, October 6, 2030 (the “first dividend reset date”), at a rate of 6.500% per annum, and (ii) from and including the first dividend reset date, for each dividend reset period (as defined under “Description      
 of the Series I Preferred Stock—Dividends”), at a rate equal to the Five-year U.S. Treasury Rate (as defined under “Description of the Series I Preferred Stock—Dividends”) as of the most recent reset dividend determination 
 date (as defined under “Description of the Series I Preferred Stock—Dividends”) plus 2.629% per annum.                                                                                                                         |

| Dividends will be payable in arrears on each dividend payment date. |

S-3

| Dividends on shares of the Series I Preferred Stock will not be cumulative and will not be mandatory. If for any reason our board of directors (or a duly authorized committee of the board) does not