Citizens Financial issues 16M depositary shares of 6.5% Series I Preferred Stock

CITIZENS FINANCIAL GROUP INC/RI

Offering of 16,000,000 depositary shares (each 1/40th interest in a share of 6.500% Series I Preferred Stock, liquidation preference $1,000/share).
Underwriters: Morgan Stanley, BofA, JPMorgan, UBS, Wells Fargo, Citizens JMP.
Certificate of Designations filed; dividend restrictions on common and junior stock if Series I dividends not paid.
Offering closed July 31, 2025; aggregate liquidation preference approximately $400 million.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

CITIZENS FINANCIAL GROUP INC/RI: Filed a Certificate of Designations to establish the preferences, limitations and relative rights of Series I Preferred Stock (effective 2025-07-25).

Change: charter amendment
Effective: 2025-07-25

Exact text from the filing

On July 25, 2025, the Registrant filed a Certificate of Designations (the “Certificate of Designations”) with the Secretary of State of the State of Delaware to establish the preferences, limitations and relative rights of the Series I Preferred Stock.

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CITIZENS FINANCIAL GROUP INC/RI filing history →

Source: SEC EDGAR

accession 0001193125-25-170524

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