Company: CFG-PE
Filing Date: 2025-07-22
Form Type: 424B2
Source: 0001193125-25-162273
Chunk: 14

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-07-22
Form: 424B2
Chunk 14
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emptive and Conversion Rights: | None. |

| Listing: | Application will be made to list the Depositary Shares on the New York Stock Exchange under the symbol “CFG PfI.” If approved for listing, trading of the Depositary Shares on the New York Stock Exchange is expected to commence within a 
 30-day period after the initial delivery of the Depositary Shares.                                                                                                                                                                          |

| Tax Consequences: | If you are a non-corporate U.S. holder, dividends paid to you will generally qualify for taxation at preferential rates if 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. |

S-6

| 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.                                                                                                                                                                       |

| 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