Company: CFG-PE
Filing Date: 2025-07-22
Form Type: 424B2
Source: 0001193125-25-162273
Chunk: 11

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-07-22
Form: 424B2
Chunk 11
---
 Shares if the underwriters exercise their over-allotment option in full), each representing a 1/40th                                                                                           
 ownership interest in a share of our  % Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series I, with a liquidation preference $1,000 per share (equivalent to $25 per Depositary Share)                               
 (the “Series I Preferred Stock”). Each holder of a Depositary Share will be entitled, through the depositary, to all the rights and preferences of the shares of Series I Preferred Stock represented thereby (including dividend, 
 voting, redemption and liquidation rights) in proportion to the applicable fraction of a share of Series I Preferred Stock represented by such Depositary Share.                                                                   |

| We may from time to time elect to issue additional shares of the Series I Preferred Stock and related Depositary Shares, and all such additional shares of Series I Preferred Stock and the related Depositary Shares would                              
 be deemed to form a single series with the shares of Series I Preferred Stock and the related Depositary Shares, respectively, offered by this prospectus supplement, provided that such additional shares will only be issued if they are fungible with 
 the original shares for tax purposes.                                                                                                                                                                                                                    |

| Over-Allotment Option: | We have granted the underwriters the option to purchase up to an additional     Depositary Shares from us within the 30 days after the date of this prospectus supplement at the public offering price, less the applicable 
 underwriting discounts and commissions, solely to cover over-allotments, if any.                                                                                                                                            |

| Dividends: | We will pay dividends on the Series I Preferred Stock, only when, as and if declared by our board of directors (or a duly authorized committee of the board). |

| Dividends will accrue on the stated amount of $1,000 per share of the Series I Preferred Stock (the “stated                                                                                        
 amount”) (equivalent to $25 per Depositary Share) (i) from the date of original issue to, but excluding, October 6, 2030 (the “first dividend reset date”), at a rate of   % per annum, and        
 (ii) from and including the first dividend reset date, for each dividend reset period (as defined under “Description of the Series I Preferred Stock—Dividends”), at a rate equal to the Five-year |

S-3

| U.S. Treasury Rate (