Citizens Financial launches proposed public offering of Series H preferred stock to redeem Series D preferred

CITIZENS FINANCIAL GROUP INC/RI

Announced offering of new Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series H, subject to market conditions.
Intends to use net proceeds to redeem all outstanding 6.350% Series D Preferred Stock ($1,000 liquidation preference per share) on July 8, 2024.
Corresponding Series D Depositary Shares (CFG PrD) would also be redeemed if offering closes.
No assurance that the offering will price or that redemption will occur; company will announce decision via press release.

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