Company: FCNCB
Filing Date: 2025-03-07
Form Type: 424B5
Source: 0001193125-25-049895
Chunk: 34

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-03-07
Form: 424B5
Chunk 34
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            22,228 |   |     |   |            22,228 |   |
| Total liabilities and stockholders’ equity                                          |                                                 | $ |           223,720 |   |     | $ |           224,962 |   |

S-21

USE OF PROCEEDS

We expect to receive net proceeds from this offering of approximately $1,242,000,000 after the deduction of the underwriting discounts and
estimated expenses payable by us. We intend to use the net proceeds of the offering for general corporate purposes, which may include, among other uses, the partial or full redemption of certain outstanding long-term debt. The precise amounts and
timing of the application of proceeds will depend on the requirements of BancShares and its subsidiaries and affiliates.

S-22

DESCRIPTION OF NOTES

Senior Notes

General

The senior notes will be unsecured and unsubordinated obligations of First Citizens BancShares, Inc. (“BancShares”) and will be
issued as a series of debt securities under the Senior Indenture in an initial aggregate principal amount of $500,000,000. The senior notes are solely obligations of BancShares and are neither obligations of, nor guaranteed by, First Citizens Bank
or any of our other subsidiaries. The senior notes are not savings accounts, deposits or other obligations of First Citizens Bank or any of our other subsidiaries and are not insured or guaranteed by the FDIC or any other governmental agency or
public or private insurer. We may issue additional series of notes under the Senior Indenture. See “—Further Issues.” The following description of the senior notes may not be complete and is subject to and qualified in its entirety by
reference to the Senior Indenture.

The senior notes will mature on March 12, 2031 (the “senior notes maturity date”), unless
previously redeemed or otherwise accelerated. Payment of principal on the senior notes may be accelerated only upon the occurrence of specified events. See “—Events of Default; Notices of Default.”

The senior notes are not convertible into, or exchangeable for, equity securities, other securities, or assets of BancShares or its
subsidiaries. There is no sinking fund for the senior notes. Except as described under “—Clearance and Settlement,” the senior notes will be represented by one or more global certificates deposited with or on behalf of DTC and
registered in the name of Cede & Co. or another nominee of DTC. The senior notes will be issued and may be transferred