Company: FCNCB
Filing Date: 2025-03-07
Form Type: 424B5
Source: 0001193125-25-049895
Chunk: 27

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-03-07
Form: 424B5
Chunk 27
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 other markets, such as the derivatives and loan markets, including the manner of adoption or application by BancShares.

You should carefully consider how any mismatch between the adoption of SOFR-based reference rates across these markets may impact any hedging
or other financial arrangements that you may put in place in connection with any acquisition, holding or disposal of the senior notes.

Historical levels of SOFR are not an indication of its future levels.

The NY Federal Reserve (as defined herein) began to publish SOFR in
April 2018 and the SOFR Index in March 2020 and has published modeled, pre-publication estimates of SOFR going back to 2014. Such pre-publication estimates inherently
involve assumptions, estimates and approximations. Hypothetical or historical performance data and trends are not indicative of, and have no bearing on, the potential performance of SOFR and therefore you should not rely on any such data or trends
as an indicator of future performance. Since the initial publication of SOFR, daily changes in the rate have, on occasion, been more volatile than daily changes in comparable benchmark or market rates. As a result, the return on and value of
SOFR-linked debt securities may fluctuate more than floating rate debt securities that are linked to less volatile rates. The future performance of SOFR is impossible to predict, and therefore no future performance of SOFR should be inferred from
any hypothetical or historical data or trends.

Compounded SOFR Index Rate with respect to a particular floating rate interest period will only be capable of being determined near the end of the relevant floating rate interest period.

The level of Compounded SOFR Index Rate
applicable to a particular floating rate interest period and, therefore, the amount of interest payable with respect to such floating rate interest period will be determined on the Interest Determination Date for such floating rate interest period.
Because each such date is near the end of such floating rate interest period, you will not know the amount of interest payable with respect to a particular floating rate interest period until shortly prior to the related senior notes floating rate
interest payment date and it may be difficult for you to reliably estimate the amount of interest that will be payable on each such senior notes floating rate interest payment date. In addition, some investors may be unwilling or unable to trade the
senior notes without changes to their information technology systems, which could adversely impact the liquidity and trading price of the senior notes.

SOFR is not expected to be comparable to U.S. dollar LIBOR.

RFRs