Company: CFG-PE
Filing Date: 2025-07-23
Form Type: 424B2
Source: 0001193125-25-163534
Chunk: 15

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-07-23
Form: 424B2
Chunk 15
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 you meet certain holding period and other applicable requirements. If you are a                                                
 corporate U.S. holder, dividends received by you will generally be eligible for the dividends-received deduction if you meet certain holding period and other applicable requirements. If you are a non-U.S.                                              
 holder, dividends paid to you will generally be subject to withholding of U.S. federal income tax at a 30% rate or at a lower rate if you are eligible for the benefits of an income tax treaty that provides for a lower rate. For further discussion of 
 the tax consequences relating to the Series I Preferred Stock, see “Material U.S. Federal Income Tax Considerations.”                                                                                                                                     |

| Use of Proceeds: | We intend to use the net proceeds from the sale of the Depositary Shares to redeem some or all outstanding shares of the Series F Preferred Stock. See “Use of Proceeds.” |

| Depositary: | Computershare Inc. and Computershare Trust Company, N.A., acting jointly. |

| Transfer Agent and Registrar: | Computershare Trust Company, N.A. |

| Calculation Agent: | Unless we have validly called all shares of the Series I Preferred Stock for redemption on the first dividend reset date, we will appoint a calculation agent for the Series I Preferred Stock prior to the commencement of the first dividend reset 
 period. We may appoint ourselves or an affiliate of ours as calculation agent.                                                                                                                                                                       |

S-6

| Conflicts of Interest: | Because Citizens JMP Securities, LLC, an underwriter for this offering, is our wholly-owned subsidiary, a conflict of interest under Financial Industry Regulatory Authority, Inc. (“FINRA”) Rule 5121 is deemed to exist.                            
 Accordingly, this offering will be conducted in accordance with this rule. Pursuant to FINRA Rule 5121, Citizens JMP Securities, LLC will not confirm sales to any account over which it exercises discretionary authority without the specific prior 
 written approval of the account holder. See “Underwriting (Conflicts of Interest)—Conflicts of Interest.”                                                                                                                                             |

| Risk Factors: | Investing in the Depositary Shares representing interests in the Series I Preferred Stock involves risks. You should consider carefully all of the information in this prospectus supplement and any applicable final term sheet. In particular, 
 you should consider carefully the risk factors described in “Risk Factors” beginning on page S-8 of this prospectus supplement and on page 21 of our 2024 Form 10-K and incorporated by reference                                                
 herein before purchasing any Depositary