Company: CFG-PE
Filing Date: 2025-07-23
Form Type: 424B2
Source: 0001193125-25-163534
Chunk: 48

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-07-23
Form: 424B2
Chunk 48
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 in part at any time within 90 days of certain changes to regulatory capital
requirements, in each case at a redemption price of $1,000 per share, plus any declared and unpaid dividends, without accumulation of any undeclared dividends. The Series H Preferred Stock does not have any voting rights other than with respect to
certain limited matters, including the right (together with all other holders of preferred stock) to elect two directors if we fail to pay for the equivalent of three semi-annual or six full quarterly dividend payments, whether or not for
consecutive periods, the right to vote on certain matters that could adversely affect the holders of the Series H Preferred Stock and on certain other matters to the extent required by law. The Series H Preferred Stock is dividend parity stock,
liquidation preference parity stock, and voting preferred stock, in each case as defined in this prospectus supplement.

S-27

DESCRIPTION OF THE DEPOSITARY SHARES

In this prospectus supplement, references to “holders” of the Depositary Shares mean those who have the Depositary Shares registered in their own names, on the books that we or the depositary maintain for this purpose, and not indirect holders who own beneficial interests in the Depositary Shares registered in the street name of or issued in book-entry form through DTC. Please review the special considerations that apply to indirect holders described in the “Book-Entry, Delivery and Form of Depositary Shares” section of this prospectus supplement.

General

This prospectus
supplement summarizes specific terms and provisions of the depositary shares relating to our Series I Preferred Stock. As described above under “Description of the Series I Preferred Stock”, we are issuing fractional interests in shares of
the Series I Preferred Stock in the form of the Depositary Shares. Each Depositary Share will represent a 1/40 ownership interest in a share of the Series I Preferred Stock, and will be
evidenced by a depositary receipt. We will deposit the underlying shares of the Series I Preferred Stock represented by the Depositary Shares with a depositary pursuant to a deposit agreement among us, Computershare Inc. and its wholly-owned
subsidiary Computershare Trust Company, N.A., jointly acting as depositary, and the holders from time to time of the depositary receipts. Subject to the terms of the deposit agreement, each holder of a Depositary Share will be entitled to all the
rights and preferences of the shares of Series I Preferred Stock (including dividend, voting, redemption and liquidation rights