Company: FCNCB
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-195116
Chunk: 15

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-09-04
Form: 424B5
Chunk 15
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ordinated notes issued by BancShares (the “existing subordinated notes”), $400 million of subordinated notes issued or assumed by
First Citizens Bank, $51 million of senior unsecured notes issued or assumed by First Citizens Bank, $36.53 billion of other borrowings, including the $35.99 billion Purchase Money Note, and $9.20 billion of other liabilities.
Except for the approximately $750 million of existing subordinated notes issued by BancShares (which rank equally in right of payment and upon our liquidation to the Notes), all of these liabilities are contractually, effectively or
structurally senior to the Notes. The Company may incur substantial other indebtedness, including additional Senior Indebtedness and indebtedness ranking on a parity with the Notes, in the future.

The Subordinated Indenture will not contain any limitations on our ability to incur additional indebtedness, grant or incur a lien on our assets, sell or otherwise dispose of assets, pay dividends, or repurchase our capital stock.

Neither BancShares nor any of its
subsidiaries will be restricted from incurring additional indebtedness or other liabilities, including additional senior or subordinated indebtedness, under the Subordinated Indenture. If we incur additional indebtedness or liabilities,
BancShares’ ability to pay its obligations on the Notes could be adversely affected. We expect that we will, from time to time, incur additional indebtedness and other liabilities. In addition, we are not restricted under the Subordinated
Indenture from granting or incurring a lien on any of our assets, selling or otherwise disposing of any of our assets, paying dividends, including our regular quarterly dividend on our common and preferred stock, or issuing or repurchasing our
securities, including pursuant to our previously announced share repurchase programs.

In addition, there are no financial covenants in
the Subordinated Indenture. Except as expressly provided in the Subordinated Indenture, holders of the Notes will not be protected under the Subordinated Indenture in the event of a highly leveraged transaction, reorganization, default under our
existing indebtedness, restructuring, merger, or similar transaction. See “Description of Notes—Consolidation, Merger and Sale of Assets.”

Payments on the Notes will depend on receipt of dividends and distributions from BancShares’ subsidiaries.

BancShares is a financial holding company, and it conducts substantially all of its operations through subsidiaries, including First Citizens
Bank. BancShares depends on dividends, distributions, and other payments