---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-22-002498"
form_type: "8-K"
ticker: "FCNCA"
cik: "0000798941"
company_name: "FIRST CITIZENS BANCSHARES INC /DE/"
filed_at: "2022-01-24T23:59:59+00:00"
generated_at: "2026-06-27T16:22:18.520865+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# First Citizens Bank to redeem ~$2.9B of senior unsecured notes on Feb 24, 2022

## Summary
- Redeeming all $1.147B 5.000% notes due 2022, $750M 5.000% notes due 2023, $500M 4.750% notes due 2024, and $500M 5.250% notes due 2025.
- Redemption price equals greater of par or discounted present value at Treasury yield plus 50 bps (30 bps for 2024 notes) plus accrued interest.
- Redemption funded from cash on hand; CFO says move optimizes balance sheet and reduces higher debt costs from CIT merger.

## SEC filing metadata
- accession: 0001140361-22-002498
- form_type: 8-K
- ticker: FCNCA
- cik: 0000798941
- company_name: FIRST CITIZENS BANCSHARES INC /DE/
- filed_at: 2022-01-24T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/798941/000114036122002498/0001140361-22-002498-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/798941/000114036122002498/brhc10033023_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-22-002498
- JSON: https://secwatch.observer/filing/0001140361-22-002498.json
- Plain text: https://secwatch.observer/filing/0001140361-22-002498.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.