# EDGAR Filing Document

**Accession Number:** 0000049196
**File Stem:** 0001193125-23-050786
**Filing Date:** 2023-2
**Character Count:** 8234
**Document Hash:** 62a166245f271b9c1c96f903a4e8fa7e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-050786.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001193125-23-050786

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HUNTINGTON BANCSHARES INC /MD/
- **CENTRAL INDEX KEY:** 0000049196
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **IRS NUMBER:** 310724920
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-263546
- **FILM NUMBER:** 23675073

**BUSINESS ADDRESS:**
- **STREET 1:** HUNTINGTON CTR
- **STREET 2:** 41 S HIGH ST HC0917
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43287
- **BUSINESS PHONE:** 6144802265

**MAIL ADDRESS:**
- **STREET 1:** HUNTINGTON CENTER
- **STREET 2:** 41 S HIGH ST HC0917
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43287

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HUNTINGTON BANCSHARES INC/MD
- **DATE OF NAME CHANGE:** 19920703
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HUNTINGTON BANCSHARES INC /MD/
- **CENTRAL INDEX KEY:** 0000049196
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **IRS NUMBER:** 310724920
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** HUNTINGTON CTR
- **STREET 2:** 41 S HIGH ST HC0917
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43287
- **BUSINESS PHONE:** 6144802265

**MAIL ADDRESS:**
- **STREET 1:** HUNTINGTON CENTER
- **STREET 2:** 41 S HIGH ST HC0917
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43287

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HUNTINGTON BANCSHARES INC/MD
- **DATE OF NAME CHANGE:** 19920703

**Issuer Free Writing Prospectus** 

**Filed Pursuant to Rule 433**

**Registration Statement No. 333-263546** 

**February 27, 2023** 

**Final Term Sheet** 

**Huntington Bancshares Incorporated** 

**Depositary Shares, Each Representing a 1/40th Interest** 

**in a Share of 6.875% Series J Non-Cumulative Perpetual Preferred Stock** 

**SUMMARY OF TERMS DATED FEBRUARY 27, 2023** 

---

| | |
|:---|:---|
| Issuer | Huntington Bancshares Incorporated |
| Security | Depositary Shares, each representing a 1/40th interest in a share of 6.875% Series J Non-Cumulative Perpetual Preferred Stock |
| Size | $325,000,000 (13,000,000 depositary shares) |
| Over-Allotment Option |  |
| Maturity | The Series J Non-Cumulative Perpetual Preferred Stock does not have a maturity date, and the Issuer is not required to redeem the Preferred Stock. Accordingly, the Series J Non-Cumulative Perpetual Preferred Stock and the related depositary shares will remain outstanding indefinitely, unless and until the Issuer decides to redeem it. |
| Expected Ratings\* | Baa3 (stable) (Moody's) / BB+ (stable) (S&P) / BB+ (stable) (Fitch) |
| Liquidation Preference | $1,000 per share (equivalent to $25.00 per depositary share) |
| First Reset Date | April 15, 2028 |
| Reset Date | The First Reset Date and each date falling on the fifth anniversary of the preceding Reset Date |
| Reset Period | The period from and including the First Reset Date to, but excluding, the next following Reset Date and thereafter each period from and including each Reset Date to, but excluding, the next following Reset Date |
| Reset Dividend Determination Date | In respect of any Reset Period, the day falling three business days prior to the beginning of such Reset Period |
| Dividend Rate (Non-Cumulative) | At a rate per annum equal to (i) 6.875% from the original issue date to, but excluding, April 15, 2028; and (ii) for each Reset Period from, and including, April 15, 2028, the "five-year treasury rate" (as defined in the preliminary prospectus supplement) as of the most recent Reset Dividend Determination Date plus 2.704% |
| Dividend Payment Dates | Beginning July 15, 2023, and each January 15, April 15, July 15 and October 15 thereafter |
| Day Count | 30/360 |

---

------

---

| | |
|:---|:---|
| Optional Redemption | The Issuer may redeem the Preferred Stock at its option, (i) in whole or in part, from time to time, on any dividend payment date on or after the First Reset Date or (ii) in whole but not in part, within 90 days following a regulatory capital treatment event, at a redemption price equal to $1,000 per share (equivalent to $25.00 per depositary share), plus any declared and unpaid dividends and, in the case of a redemption following a regulatory capital treatment event, the pro-rated portion of dividends, whether or not declared, for the dividend period in which such redemption occurs. |
| Trade Date | February 27, 2023 |
| Settlement Date | March 6, 2023 (T + 5) |
| Public Offering Price | $25.00 per depositary share |
| Underwriting Discount | $0.7875 per depositary share (for Retail Orders)<br> $0.2500 per depositary share (for Institutional Orders) |
| Net Proceeds (before expenses) to Issuer | $318456737.50 |
| Joint Book-Running Managers | BofA Securities, Inc.<br> J.P. Morgan Securities LLC<br> Morgan Stanley & Co. LLC<br> RBC Capital Markets LLC<br> UBS Securities LLC<br> Wells Fargo Securities LLC<br> Huntington Securities, Inc. |
| Co-Managers | Keefe, Bruyette & Woods, *A Stifel Company* |
| CUSIP / ISIN | 446150773 / US4461507737 |
| Expected Listing / Symbol | NASDAQ Global Select Market / HBANJ |

---

\* A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

The underwriters expect to deliver the depositary shares to purchasers on or about March 6, 2023, which will be the fifth business day following the pricing of the depositary shares (such settlement cycle being herein referred to as "T + 5"). Under Rule 15c6-1 under the Exchange Act, trades in the secondary market generally are required to settle in two business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the depositary shares on the date of pricing or the next two succeeding business days will be required, by virtue of the fact that the depositary shares initially will settle T + 5, to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of the depositary shares who wish to trade the depositary shares on the date of pricing of the depositary shares or the next two succeeding business days should consult their own adviser.

This communication is intended for the sole use of the person to whom it is provided by us. The Issuer has filed a registration statement (File Number 333-263546) (including a prospectus and a preliminary prospectus supplement) with the Securities and Exchange Commission for the offering to which this communication relates. Before you invest, you should read the prospectus and the preliminary prospectus supplement related to that registration statement and other documents that the Issuer has filed with the Securities and Exchange Commission for more complete information about the Issuer and this offering. You may get these documents for free by visiting EDGAR on the website of the Securities and Exchange Commission at www.sec.gov. Copies of the prospectus, preliminary prospectus supplement and any subsequently filed prospectus supplement relating to the offering may be obtained from BofA Securities, Inc. toll-free at 1-800-294-1322; J.P. Morgan Securities LLC collect at 1-212-834-4533; Morgan Stanley & Co. LLC at 1-866-718-1649 or Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; RBC Capital Markets, LLC toll-free at 1-866-375-6829; UBS Securities LLC toll-free at 1- 888-827-7275; Wells Fargo Securities, LLC at 1-800-645-3751 and Huntington Securities, Inc. toll-free at 1-800-824-5652.

------

Any disclaimer or other notice that may appear below is not applicable to this communication and should be disregarded. Such disclaimer or notice was automatically generated as a result of this communication being sent by Bloomberg or another email system.