Company: CMA
Filing Date: 2025-08-05
Form Type: 424B5
Source: 0001193125-25-173600
Chunk: 27

Company: COMERICA INC
Filing Date: 2025-08-05
Form: 424B5
Chunk 27
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 (but, at its discretion, may appear at any meeting with respect to the Series B Preferred Stock unless directed to the contrary by the holders of all of the depositary shares) to the extent of the Series B Preferred Stock represented by the depositary shares. General market conditions and unpredictable factors could adversely affect market prices for the depositary shares representing interests in the Series B Preferred Stock. Several factors, many of which are beyond our control, could influence the market prices of the depositary shares representing the Series B Preferred Stock, including, but not limited to:

| • |     | whether we declare or fail to declare dividends on the Series B Preferred Stock from time to time; |

| • |     | our operating performance, financial condition and prospects, or the operating performance, financial condition 
 and prospects of our competitors;                                                                               |

| • |     | our creditworthiness; |

| • |     | the ratings given to our securities by credit rating agencies, including the ratings given to the Series B 
 Preferred Stock or the depositary shares;                                                                  |

| • |     | prevailing interest rates; |

| • |     | the market for similar securities; and |

| • |     | economic, corporate, securities market, geopolitical or regulatory events that affect us or the financial markets 
 generally.                                                                                                        |

Accordingly, the depositary shares that an investor purchases, whether in this offering or in the secondary market, may trade at a discount to the price the investor paid for such depositary shares. An active trading market for the Series B Preferred Stock and the related depositary shares does not exist and may not develop. The Series B Preferred Stock and the related depositary shares are new issues of securities with no established trading market. Although we intend to apply to have the depositary shares listed on the NYSE, there S-16

is no guarantee that we will be able to list the depositary shares. Even if the depositary shares are listed, there is no guarantee that a trading market for the depositary shares will develop
or, if a trading market for the depositary shares does develop, the depth or liquidity of that market or the ability of the holders to sell their depositary shares. We do not expect that there will be any separate public trading market for the
shares of the Series B Preferred Stock except as represented by the depositary shares. Because the Series B Preferred Stock does not have a stated maturity date, investors seeking liquidity in the depositary shares will be limited to selling their
depositary shares in the