Preferred Stock Channel
Citizens Financial Group Inc (New) | 6.350% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D (CFG.PRD)

Prospectus excerpt:  Citizens Financial Group, Inc. (ÙCitizensˆ) is offering 12,000,000 depositary shares (the ÙDepositary Sharesˆ), each of which represents a 1/40th ownership interest in a share of Citizens? 6.350% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D, liquidation preference $1,000 per share (ÙSeries D Preferred Stockˆ) (equivalent to $25 per Depositary Share), deposited with Computershare Inc. and Computershare Trust Company, N.A., acting jointly as depositary. The Depositary Shares are evidenced by depositary receipts. Each holder of a Depositary Share will be entitled, through the depositary, to all the rights and preferences of the shares of Series D Preferred Stock represented thereby (including dividend, voting, redemption and liquidation rights) in proportion to the applicable fraction of a share of Series D Preferred Stock represented by such Depositary Share. Holders of Series D Preferred Stock will be entitled to receive dividend payments only when, as and if declared by our board of directors (or a duly authorized committee of the board). From the date of original issue to, but excluding, April 6, 2024, dividends will be payable at a rate of 6.350% per annum, payable quarterly, in arrears, on January 6, April 6, July 6 and October 6 of each year, beginning on April 6, 2019 and ending on April 6, 2024. From and including April 6, 2024, dividends will be payable at a floating rate equal to three-month LIBOR plus a spread of 3.642% per annum, payable quarterly, in arrears, on January 6, April 6, July 6 and October 6 of each year, beginning on July 6, 2024.

Full Prospectus PDF », Secondary Prospectus PDF », CFG Page »

Series:D
Alternate symbology:CFG-D, CFG-PD, CFGprD
Redeemable?:Yes
Call Date:4/6/2024
Perpetual?:Yes
Cumulative?:No
Shares Offered:12,000,000
Liquidation Preference:$25.00
Recent Market Price:$25.35
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$0.35 (1.40%)
Annualized Dividend:1.5875
Recent Ex-Date:3/21/2024
Current Yield:6.26%
Original Coupon:6.35%
Pay Period:Quarterly
Pay Dates:6-Jan, 6-Apr, 6-Jul, 6-Oct
CDx3 Compliance Rating: Learn CFG.PRD's Rating
Citizens Financial Group is a bank holding company and a financial holding company. Through its banking subsidiary, Citizens Bank, National Association, Co. manages its business through two business segments: Consumer Banking, which provides deposit products, mortgage and home equity lending, credit cards, business loans, wealth management and investment services; and Commercial Banking, which provides lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as syndicated loans, corporate finance, mergers and acquisitions, and debt and equity capital markets capabilities.

Preferreds: CFG.PRD, CFG.PRE


Open the CFG Information Page »
Name:  Citizens Financial Group Inc (New)
Website:  www.citizensbank.com
Sector:  Banking & Savings
Number of ETFs Holding CFG:  105 (see which ones)
Total Market Value Held by ETFs:  $3,381,595,843.38
Total Market Capitalization:  $16,700,000,000
% of Market Cap. Held by ETFs:  20.25%

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