PROVIDENCE, R.I.--(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 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.
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.
