Company: CMA
Filing Date: 2025-08-05
Form Type: 424B5
Source: 0001193125-25-173600
Chunk: 26

Company: COMERICA INC
Filing Date: 2025-08-05
Form: 424B5
Chunk 26
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 under “Description of the Series B Preferred Stock—Dividends.”
These determinations will be binding on the holders of the Series B Preferred Stock and will not be subject to any vote or consent of the holders of the Series B Preferred Stock.

Holders of the depositary shares representing interests in the Series B Preferred Stock may be unable to use the dividends received deduction.

Dividends paid to corporate U.S. holders of the depositary shares representing interests in the Series B Preferred Stock may be
eligible for the dividends received deduction if we have current or accumulated earnings

S-15

and profits, as determined for U.S. federal income tax purposes. Although we presently have accumulated earnings and profits, we may not have sufficient current or accumulated earnings and profits during future fiscal years for the dividends on the Series B Preferred Stock to qualify as dividends for federal income tax purposes. See “Certain U.S. Federal Income Tax Considerations.” If any dividends on the Series B Preferred Stock with respect to any fiscal year are not eligible for the dividends received deduction because of insufficient current or accumulated earnings and profits, the market value of the depositary shares may decline. The holders of the Series B Preferred Stock, and therefore the holders of the depositary shares representing the Series B Preferred Stock, will have limited voting rights. The holders of the Series B Preferred Stock, and therefore holders of the depositary shares, have no voting rights with respect to matters that generally require the approval of voting stockholders. The holders of the Series B Preferred Stock will have limited voting rights in the event of non-paymentsof dividends under certain circumstances and with respect to certain fundamental changes in the terms of the Series B Preferred Stock, certain other matters and as required by law, as described under “Description of the Series B Preferred Stock—Voting Rights.” Holders of depositary shares must act through the depositary to exercise any voting rights in respect of the Series B Preferred Stock. Although each depositary share is entitled to 1/40th of a vote, the depositary can only vote whole shares of Series B Preferred Stock. To the extent possible, the depositary will vote the amount of the Series B Preferred Stock represented by depositary shares in accordance with the instructions it receives, provided that the depositary receives such instructions sufficiently in advance of such voting to enable it to so vote or cause such Series B Preferred Stock to be voted. If the depositary does not receive specific instructions from the holders of any depositary shares representing the Series B Preferred Stock, it will not vote