Company: CMA
Filing Date: 2025-08-05
Form Type: 424B5
Source: 0001193125-25-173600
Chunk: 57

Company: COMERICA INC
Filing Date: 2025-08-05
Form: 424B5
Chunk 57
---
 be entitled to take the dividends-received deduction in all circumstances and, even if they are so entitled, may be subject to special rules in respect of their ownership of the depositary shares. Prospective corporate investors in depositary shares should consult their tax advisors regarding the holding period and other requirements that must be satisfied in order to qualify for the dividends-received deduction and with respect to the possible application of the extraordinary dividend provisions of the U.S. federal income tax law to their ownership or disposition of the depositary shares in their particular circumstances. Sale, Exchange or Certain other Taxable Dispositions You generally will recognize capital gain or loss on a sale or exchange of the depositary shares equal to the difference between the amount realized upon the sale or exchange and your adjusted tax basis in the shares sold or exchanged (other than certain redemptions described under “U.S. Holders—Redemptions”). A U.S. holder’s tax basis in a depository share generally will be equal to the cost of the depository share to such U.S. holder, which may be adjusted for certain subsequent events (for example, if the U.S. holder receives a non-dividenddistribution, as described above). Capital gain of a non-corporateU.S. holder is generally taxed at preferential rates where the holder has a holding period greater than one year. The deductibility of capital losses is subject to significant limitations. S-39

Redemptions If we redeem your depositary shares, you would be treated as if you had sold your depositary shares if the redemption:

| • |     | results in a complete termination of your stock interest in us; |

| • |     | is “substantially disproportionate” with respect to you; |

| • |     | is “not essentially equivalent to a dividend” with respect to you; or |

| • |     | is a redemption of stock held by a shareholder who is not a corporation and results in a partial liquidation of 
 us.                                                                                                             |

In determining whether any of these tests has been met, depositary shares and shares of other classes and series of our capital stock and any options (including stock purchase rights) to acquire any of the foregoing owned by you must be taken into account, as well as stock considered to be owned by you by reason of certain constructive ownership rules set forth in Section 318 of the Code. Because the determination as to whether any of these tests will be met with respect to any particular U.S. holder will depend upon the facts and circumstances at