Company: CMA
Filing Date: 2025-08-05
Form Type: 424B5
Source: 0001193125-25-173600
Chunk: 23

Company: COMERICA INC
Filing Date: 2025-08-05
Form: 424B5
Chunk 23
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 subsidiary’s liquidation or otherwise,
is subject to the prior claims of creditors of that subsidiary, except to the extent that we are recognized as a creditor of that subsidiary. As a result, the Series B Preferred Stock will be effectively subordinated to all existing and future
liabilities of our subsidiaries.

Additional issuances of preferred stock or securities convertible into preferred stock may dilute the ownership of existing holders of the Series B Preferred Stock.

We may, in the future, determine that it is advisable, or we may encounter
circumstances where we determine it is necessary, to issue additional shares of preferred stock, securities convertible into, exchangeable for or that represent an interest in preferred stock, or preferred stock-equivalent securities. Our board of
directors is authorized to cause us to issue one or more classes or series of preferred stock from time to time without any action on the part of our stockholders, including issuing additional shares of Series B Preferred Stock and related
depositary shares. Our board of directors also has the power, without stockholder approval, to set the terms of any such classes or series of preferred stock that may be issued. Though the approval of holders of the depositary shares representing
interests in the Series B Preferred Stock will be needed to authorize, create, or increase the authorized amount of, any equity security ranking senior to the Series B Preferred Stock, if we issue preferred stock in the future that has preference
over the Series B Preferred Stock with respect to the payment of dividends or upon liquidation, or if we issue preferred stock with voting rights that dilute the voting power of the Series B Preferred Stock and therefore the related depositary
shares, the rights of holders of the depositary shares representing interests in the Series B Preferred Stock or the market price of the depositary shares could be adversely affected. The market price of the depositary shares could decline as a
result of these other offerings, as well as other sales of a large block of depositary shares or similar securities in the market thereafter, or the perception that such sales could occur. Holders of the Series B Preferred Stock or depositary shares
are not entitled to preemptive rights or other protections against dilution.

Investors should not expect us to redeem the Series B Preferred Stock on the first date it becomes redeemable or thereafter.

The Series B Preferred Stock is a perpetual equity security. This means
that the Series B Preferred Stock has no maturity or mandatory redemption date and is not redeemable at the option of the holders. The Series B Preferred