Citizens Financial Group Announces Pricing of $300 Million Preferred Stock Offering
May 21 2018 - 3:39PM
Business Wire
Citizens Financial Group, Inc. (NYSE: CFG) today announced the
pricing of an offering of 300,000 shares of its 6.000%
fixed-to-floating rate non-cumulative perpetual Series B Preferred
Stock, liquidation preference $1,000 per share (the “Preferred
Stock”) at an aggregate offering price of $300 million.
CFG intends to use the net proceeds of the Preferred Stock
offering for general corporate purposes. The Preferred Stock
offering is expected to close on May 24, 2018, subject to customary
closing conditions.
Citigroup Global Markets Inc., Credit Suisse Securities (USA)
LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC,
Barclays Capital Inc., Citizens Capital Markets, Inc., Deutsche
Bank Securities Inc. and Mizuho Securities USA LLC are acting as
underwriters for the Preferred Stock offering.
The Preferred Stock offering is being made pursuant to an
effective shelf registration statement, including a prospectus,
filed by CFG with the U.S. Securities and Exchange Commission
(“SEC”). Before investing, investors should read the prospectus in
that registration statement, the related prospectus supplement and
other documents CFG has filed with the SEC for more complete
information about CFG and the Preferred Stock offering. These
documents may be obtained for free by visiting the SEC website at
www.sec.gov. Alternatively, the Issuer, any underwriter or any
dealer participating in the Preferred Stock offering will arrange
to send you the prospectus contained in the registration statement,
together with the related prospectus supplement, if you request it
by contacting Citigroup Global Markets Inc. toll-free at
1-800-831-9146, Credit Suisse Securities (USA) LLC toll-free at
1-800-221-1037, J.P. Morgan Securities LLC collect at
1-212-834-4533, Morgan Stanley & Co. LLC toll-free at
1-866-718-1649, Barclays Capital Inc. toll-free at 1-888-603-5847,
or Citizens Capital Markets, Inc. at 1-203-900-6763.
This press release is for informational purposes only and does
not constitute an offer to sell, or a solicitation of an offer to
buy, the Preferred Stock, nor shall there be any sale of the
Preferred Stock in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and
largest financial institutions, with $153.5 billion in assets as of
March 31, 2018. Headquartered in Providence, Rhode Island, Citizens
offers a broad range of retail and commercial banking products and
services to individuals, small businesses, middle-market companies,
large corporations and institutions. Citizens helps its customers
reach their potential by listening to them and by understanding
their needs in order to offer tailored advice, ideas and solutions.
In Consumer Banking, Citizens provides an integrated experience
that includes mobile and online banking, a 24/7 customer contact
center and the convenience of approximately 3,300 ATMs and
approximately 1,150 branches in 11 states in the New England,
Mid-Atlantic and Midwest regions. Consumer Banking products and
services include a full range of banking, lending, savings, wealth
management and small business offerings. In Commercial Banking,
Citizens offers corporate, institutional and not-for-profit clients
a full range of wholesale banking products and services, including
lending and deposits, capital markets, treasury services, foreign
exchange and interest rate products, and asset finance. More
information is available at www.citizensbank.com or visit us on Twitter,
LinkedIn or Facebook.
Forward-Looking Statements
“Safe Harbor” Statement under the Private Securities Litigation
Reform Act of 1995: This communication contains “forward-looking
statements” —that is, statements related to future, not past,
events. In this context, forward-looking statements often address
our expected future business and financial performance and
financial condition, and often contain words such as “expect,”
“anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,”
“would,” or “target.” Forward-looking statements by their nature
address matters that are, to different degrees, uncertain.
Uncertainties that could cause our actual results to be materially
different than those expressed in our forward-looking statements
include the failure to consummate this transaction or to make or
take any filing or other action required to consummate any such
transaction on a timely matter or at all. These or other
uncertainties may cause our actual future results to be materially
different from those expressed in our forward-looking
statements.
CFG-IR
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version on businesswire.com: https://www.businesswire.com/news/home/20180521006049/en/
Citizens Financial Group, Inc.Media:Peter Lucht,
781-655-2289orInvestors:Ellen A. Taylor,
203-900-6854
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