Company: CMA
Filing Date: 2025-08-05
Form Type: 424B5
Source: 0001193125-25-173600
Chunk: 32

Company: COMERICA INC
Filing Date: 2025-08-05
Form: 424B5
Chunk 32
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 Depositary Shares

We may in the future from time to time, without notice to or consent of the holders of Series B Preferred Stock or the holders of the
depositary shares, issue additional shares of the Series B Preferred Stock and related depositary shares; provided, that any such additional shares of Series B Preferred Stock and related depositary shares may only be issued on a dividend
payment date, will accrue dividends from the date they are issued, are not treated as “disqualified preferred stock” within the meaning of Section 1059(f)(2) of the Code and are otherwise treated as fungible with the Series B
Preferred Stock offered hereby for U.S. federal income tax purposes. The additional shares of Series B Preferred Stock would form a single series with the Series B Preferred Stock offered hereby. In the event we issue additional shares of Series B
Preferred Stock, we will issue a corresponding number of additional depositary shares.

S-21

Ranking With respect to the payment of dividends and distributions of assets upon any liquidation, dissolution or winding up of Comerica, shares of the Series B Preferred Stock will rank:

| • |     | senior to our junior stock; |

| • |     | equally with any series of parity stock we may issue in the future; |

| • |     | junior to any series of stock we may issue in the future that ranks senior to the Series B Preferred Stock in the 
 payment of dividends; and                                                                                         |

| • |     | with respect to distributions of assets upon any liquidation, dissolution or winding up of Comerica, junior to 
 all existing and future indebtedness and other non-equity claims.                                              |

As used in this prospectus supplement, “junior stock” means our common stock and any other class or series of stock of Comerica hereafter authorized over which the Series B Preferred Stock has preference or priority in the payment of dividends or in the distribution of assets on any liquidation, dissolution or winding up of Comerica. As used in this prospectus supplement, “parity stock” means any other class or series of stock of Comerica that ranks on parity with the Series B Preferred Stock in the payment of dividends and in the distribution of assets on any liquidation, dissolution or winding up of Comerica. As of the date of this prospectus supplement, there is no existing parity stock. Dividends Dividends on the Series B Preferred Stock will not be cumulative and will not be mandatory. If our board of