Company: CFG-PE
Filing Date: 2025-02-24
Form Type: 424B2
Source: 0001193125-25-032848
Chunk: 13

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-02-24
Form: 424B2
Chunk 13
---
 the notes and to any pre-existingsenior S-8

notes or if certain events of bankruptcy, insolvency or reorganization occur with respect to any principal bank subsidiary of CFG, the trustee and the holders of the pre-existing senior notes would have acceleration rights that would not be available to the trustee or the holders of the notes. In addition, if we fail to pay the principal of any
pre-existing senior notes when due and such failure continues for seven days, an event of default would occur with respect to such pre-existing senior notes (and the
exercise of acceleration rights could proceed immediately in accordance with the provisions of the applicable indenture under which such pre-existing senior notes were issued), whereas, if we fail to pay the
principal of the notes when due, the trustee and the holders of the notes must wait for the 30-day cure period to expire before such nonpayment of principal becomes an event of default and any acceleration
rights are triggered with respect to such nonpayment. Any repayment of the principal amount of pre-existing senior notes following the exercise of acceleration rights in circumstances in which such rights are
not available to the holders of the notes could adversely affect our ability to make timely payments on the notes thereafter. These limitations on the rights and remedies of holders of the notes could adversely affect the market value of the notes,
especially during times of financial stress for us or our industry.

The indenture relating to the notes contains no financial covenants and does not contain a provision that would provide protection against a dramatic decline in credit quality.

The indenture relating to the
notes contains no financial covenants and does not restrict us from paying dividends or issuing or repurchasing other securities. In addition, the indenture does not contain any provision that would provide protection to the holders of the notes
against a sudden and dramatic decline in credit quality resulting from a merger, takeover, recapitalization or similar restructuring or any other event involving us or our subsidiaries that may adversely affect our credit quality.

The notes may be redeemed at our option, and you may not be able to reinvest the proceeds in a comparable security.

We may, at our option, redeem the notes at the applicable times and at the applicable redemption price described herein under “Description
of the Notes—Optional Redemption.” We may choose to redeem the notes at times when prevailing interest rates are relatively low and, as a result, you may not be able to reinvest the proceeds you receive from the redemption in a comparable
security at an effective interest rate as high