Company: HBAN
Filing Date: 2025-09-11
Form Type: 424B2
Source: 0001193125-25-200581
Chunk: 13

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-09-11
Form: 424B2
Chunk 13
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Underwriting            
 (Conflicts of Interest)—Conflicts of Interest.”                                                                                                                                                                                                       |

S-5

RISK FACTORS

An investment in our depositary shares involves certain risks. You should carefully consider the risks described below and the risk factors included in our Annual Report on Form 10-Kfor the year ended December 31, 2024, as well as the other information included or incorporated by reference in this prospectus supplement and the accompanying prospectus, before making an investment decision. Our business, financial condition or results of operations could be materially adversely affected by any of these risks. This prospectus supplement also contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in any forward-looking statements as a result of certain factors, including the risks faced by us described below and elsewhere in this prospectus supplement and the accompanying prospectus.

Risks Related to the Preferred Stock and the Related Depositary Shares

You are making an investment decision about the depositary shares as well as our Preferred Stock.

As described in this prospectus supplement, we are issuing depositary shares representing proportional interests in shares of our Preferred
Stock. The depositary will rely solely on the dividend payments on the Preferred Stock it receives from us to fund all dividend payments on the depositary shares. You should carefully review the information in this prospectus supplement regarding
our depositary shares and the Preferred Stock.

The Preferred Stock is an equity security and is subordinate to our existing and future indebtedness.

The shares of the Preferred Stock are our equity interests and do not constitute indebtedness. This means that the
Preferred Stock will rank junior to all of our indebtedness and to other non-equity claims on us and our assets available to satisfy claims on us, including claims in our liquidation. Our existing and future
indebtedness may restrict payment of dividends on the Preferred Stock. As of June 30, 2025, we had $17.5 billion of long-term debt outstanding. Additionally, unlike indebtedness, where principal and interest customarily are payable on
specified due dates, in the case of preferred stock like the Preferred Stock, (1) dividends are payable only if authorized by our board of directors or a duly authorized committee of the board of directors and declared by us and (2) as a
corporation, we are subject to restrictions on dividend payments and redemption payments out of lawfully available assets as more fully set forth in the Maryland General Corporation Law (the “MGCL”). Upon liquidation, holders