Company: CFG-PE
Filing Date: 2025-07-22
Form Type: 424B2
Source: 0001193125-25-162273
Chunk: 0

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-07-22
Form: 424B2
Chunk 0
---
Filed Pursuant to Rule 424(b)(2)
Registration No.: 333-282511 The information in this preliminary prospectus supplement is not complete and may be changed. This preliminary prospectus supplement and the accompanying prospectus are not an offer to sell nor do they seek an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.

Subject to Completion, dated July 22, 2025 PRELIMINARY PROSPECTUS SUPPLEMENT (To Prospectus dated October 4, 2024) Depositary Shares Each Representing a 1/40 thInterest in a Share of % Fixed-Rate Reset Non-CumulativePerpetual Preferred Stock, Series I Citizens Financial Group, Inc. (“ Citizens”) is offering depositary shares (the “ Depositary Shares”), each of which represents a 1/40 thownership interest in a share of Citizens’ % Fixed-Rate Reset Non-CumulativePerpetual Preferred Stock, Series I, liquidation preference $1,000 per share (“ Series I Preferred Stock”) (equivalent to $25 per Depositary Share), deposited with Computershare Inc. and Computershare Trust Company, N.A., acting jointly as depositary. The Depositary Shares are evidenced by depositary receipts. Each holder of a Depositary Share will be entitled, through the depositary, to all the rights and preferences of the shares of Series I Preferred Stock represented thereby (including dividend, voting, redemption and liquidation rights) in proportion to the applicable fraction of a share of Series I Preferred Stock represented by such Depositary Share. Holders of Series I Preferred Stock will be entitled to receive dividend payments only when, as and if declared by our board of directors (or a duly authorized committee of the board). Any such dividends will be payable quarterly in arrears on January 6, April 6, July 6 and October 6 of each year, beginning on January 6, 2026 (long first dividend period). Dividends will be payable (i) from the date of original issue to, but excluding, October 6, 2030, at a rate of % per annum and (ii) from and including October 6, 2030, for each dividend reset period (as defined herein), at a rate equal to the Five-year U.S. Treasury Rate (as defined herein) as of the most recent reset dividend determination date (as defined herein), plus % per annum. Dividends on the Series I Preferred Stock