secwatch.observer — SEC 8-K summary
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Issuer:     FIRST CITIZENS BANCSHARES INC /DE/ (FCNCA)
CIK:        0000798941
Form:       8-K
Filed at:   2025-11-18T23:59:59+00:00
Accession:  0001193125-25-286155
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 3.03, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Citizens BancShares issues 500,000 depositary shares of 7% Series D Preferred Stock
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- 500,000 depositary shares sold, each representing 1/100th interest in Series D Preferred with $100,000 liquidation preference per share.
- Dividends: 7.000% per annum to Dec 15, 2030, then floating at 5-year Treasury + 3.301%, payable quarterly.
- Underwriters: J.P. Morgan, BofA, Citigroup, Morgan Stanley; offering closed Nov 18, 2025.
- No voting rights except for fundamental changes or if dividends unpaid for 18 months (then right to elect two directors).
- No fixed maturity; redeemable at company's option on/after Dec 15, 2030, subject to Federal Reserve approval.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/798941/000119312525286155/0001193125-25-286155-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/798941/000119312525286155/d83204d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-286155

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