Company: CMA
Filing Date: 2025-08-05
Form Type: 424B5
Source: 0001193125-25-173600
Chunk: 29

Company: COMERICA INC
Filing Date: 2025-08-05
Form: 424B5
Chunk 29
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 including us. The credit
rating agencies also evaluate the financial services industry as a whole and may change their credit rating for us and our securities, including the depositary shares and the Series B Preferred Stock, based on their overall view of our industry. A
future downgrade, withdrawal, or the announcement of a possible downgrade or withdrawal in the ratings assigned to the depositary shares, the Series B Preferred Stock, us or our other securities, or any perceived decrease in our creditworthiness
could cause the trading price of the depositary shares to decline significantly.

Our trading activities may create conflicts of interest with you.

We or one or more of our broker-dealer affiliates, including Comerica Securities, Inc., may engage in trading activities that are
not for your account or on your behalf. These trading activities may present a conflict of interest between the interest of holders of the depositary shares and the interests we and our affiliates may have

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in our proprietary accounts, in facilitating transactions, including block trades, for our other customers, and in accounts under our management. These trading activities could influence
secondary trading (if any) in the depositary shares, or otherwise could be adverse to the interests of a beneficial owner of the depositary shares.

Neither the Series B Preferred Stock nor the depositary shares are insured or guaranteed by the FDIC.

Neither the Series B Preferred Stock nor the depositary shares are savings accounts, deposits or other obligations of any of our bank or non-bank subsidiaries, and they are not insured by the FDIC or any other governmental agency or instrumentality.

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USE OF PROCEEDS

The net proceeds from this offering, after deducting the underwriting discount and estimated offering expenses payable by us, are expected to
be approximately $392.2 million.

We intend to use the net proceeds from the sale of the depositary shares for general corporate
purposes.

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CAPITALIZATION The following table sets forth our consolidated capitalization as of June 30, 2025, on an actual basis and as adjusted to give effect to the issuance of the Series B Preferred Stock to be represented by the depositary shares offered hereby, after deducting the underwriting discount and estimated offering expenses payable by us. The table should be read in conjunction with the consolidated financial statements incorporated herein by reference.

|                                                                                          |     | As of June 30, 2025 |        |   |     |             |        |   |
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