Company: FCNCB
Filing Date: 2025-03-07
Form Type: 424B5
Source: 0001193125-25-049895
Chunk: 50

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-03-07
Form: 424B5
Chunk 50
---
 notes will not recognize income, gain, or loss for federal income tax purposes as a result of such defeasance and will be subject to federal income tax on the same amount, in the same manner and at the same times, as would have been the case if such deposit and defeasance had not occurred. In the case of legal defeasance only, this opinion must be based on either a ruling received from or published by the Internal Revenue Service or a change in the applicable federal income tax law. We may not have a default under the Senior Indenture or the senior notes on the date of deposit. The discharge may not cause the Trustee to have a conflicting interest for purposes of the Trust Indenture Act and may not result in BancShares becoming an investment company under the Investment Company Act. The discharge may not violate any of our agreements to which we are a party or by which we are bound. Satisfaction and Discharge We may discharge our obligations under the Senior Indenture with respect to the senior notes (except for certain surviving rights of the Trustee and our obligations in connection therewith) if: (i) all outstanding senior S-32

notes and all other outstanding debt securities issued under the Senior Indenture (a) have been delivered for cancellation, or (b) (1) have become due and payable, (2) will become due and payable at their stated maturity within one year, or (3) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice and redemption by the Trustee (and in each case, we have irrevocably deposited with the Trustee an amount sufficient to pay and discharge the principal of and interest on all outstanding senior notes and any other sums due on the stated maturity date or redemption date, as the case may be); (ii) we have paid all other sums payable by us with respect to the senior notes; and (iii) we have delivered an officer’s certificate and opinion of counsel confirming that all conditions precedent with respect to the satisfaction and discharge of the Senior Indenture have been satisfied. Consolidation, Merger and Sale of Assets The Senior Indenture provides that we may not, in a single transaction or a series of related transactions, consolidate with or merge into any other person or sell, convey, transfer, lease, or otherwise dispose of all or substantially all of our and our subsidiaries’ assets, taken as a whole, to any person unless:

| • |     | the person formed by