Company: FCNCB
Filing Date: 2025-03-06
Form Type: 424B5
Source: 0001193125-25-047965
Chunk: 56

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-03-06
Form: 424B5
Chunk 56
---
ee for the purposes of determining
the Benchmark Replacement, the Benchmark Replacement Adjustment and any Benchmark Replacement Conforming Changes will be conclusive and binding on the holders of the senior notes, us, the calculation agent, the Trustee and the paying agent, absent
manifest error. If made by our designee, such determinations, decisions, elections and calculations will be made after consulting with us, and our designees will

S-34

not make any such determination, decision, election or calculation to which we object. Notwithstanding anything to the contrary in the Senior Indenture or the senior notes, any determinations,
decisions, calculations or elections made in accordance with this provision will become effective without consent from the holders of the senior notes or any other party.

Any determination, decision or election relating to the Benchmark will be made by us on the basis described above. The calculation agent shall
have no liability for not making any such determination, decision or election. In addition, we may designate an entity (which may be our affiliate) to make any determination, decision or election that we have the right to make in connection with the
determination of the Benchmark.

Notwithstanding any other provision of “Benchmark Transition Provisions” set forth above, no
Benchmark Replacement will be adopted, nor will the applicable Benchmark Replacement Adjustment be applied, nor will any Benchmark Replacement Conforming Changes be made, if in our determination, the same could reasonably be expected to prejudice
the qualification of the senior notes as eligible liabilities or loss absorbing capacity instruments for the purposes of the Relevant Rules.

By its acquisition of senior notes, each holder of the senior notes (including each holder of a beneficial interest in the senior
notes) (i) will consent to and agree to be bound by our or our designee’s determination of a Benchmark Transition Event, a Benchmark Replacement Date, the Benchmark Replacement, the Benchmark Replacement Adjustment and any Benchmark
Replacement Conforming Changes, including as may occur without any prior notice from us and without the need for us to obtain any further consent from such holder of the senior notes, (ii) will waive any and all claims, in law and/or in equity,
against the Trustee, the paying agent and the calculation agent or our designee for, agree not to initiate a suit against the Trustee, the paying agent and the calculation agent or our designee in respect of, and agree that none of the Trustee, the
paying agent or the calculation agent or our designee will be liable for, the determination of or our