Company: CFG-PE
Filing Date: 2025-02-25
Form Type: 424B2
Source: 0001193125-25-035197
Chunk: 60

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-02-25
Form: 424B2
Chunk 60
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 business, we, and
our current and future affiliates, may be Parties in Interest with respect to many Plans. Where we, an underwriter or any other party involved with this offering (or their respective affiliates) is or becomes a Party in Interest with respect to a
Plan, the purchase, holding and subsequent disposition of the notes by or on behalf of the Plan could give rise to a “prohibited transaction” under Section 406 of ERISA and Section 4975 of the Code, unless exemptive relief were
available under an applicable exemption (as described below).

Certain prohibited transaction class exemptions (“PTCEs”) issued
by the U.S. Department of Labor may provide exemptive relief for direct or indirect “prohibited transactions” resulting from the purchase, holding and subsequent disposition of the notes. Those class exemptions include PTCE 96-23 (for certain transactions determined by in-house asset managers), PTCE 95-60 (for certain transactions involving insurance
company general accounts), PTCE 91-38 (for certain transactions involving bank collective investment funds), PTCE 90-1 (for certain transactions involving insurance
company pooled separate accounts) and PTCE 84-14 (for certain transactions determined by independent qualified asset managers). In addition, ERISA Section 408(b)(17) and Section 4975(d)(20) of the
Code provide relief from the prohibited transaction provisions of ERISA and Section 4975 of the Code for certain transactions, provided that neither the issuer of the securities nor any of its affiliates (directly or indirectly) have or
exercise any discretionary authority or control or render any investment advice with respect to the assets of any Plan involved in the transaction, and provided further that the Plan receives no less, nor pays no more, than adequate consideration in
connection with the transaction. There can be no assurance that any of these statutory or class exemptions will be available with respect to transactions involving the notes.

Each purchaser or holder of the notes or any interest therein will be deemed to have represented by its purchase or holding of the notes that
(a) it is not a Plan or Non-ERISA Arrangement and its purchase and holding of the notes is not on behalf of or with the assets of any Plan or Non-ERISA Arrangement
or (b) its purchase, holding and subsequent disposition of the notes will not result in a non-exempt “prohibited transaction” under Section 406 of ERISA or Section 4975 of the Code or
a similar violation under