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Citizens Financial Group Announces Pricing of $450 Million Preferred Stock Depositary Shares Offering

Oct 21, 2019 - Business Wire

Citizens Financial Group, Inc. (NYSE: CFG) today announced the pricing of an offering of 18,000,000 depositary shares each representing a 1/40th interest in a share of its 5.000% fixed-rate non-cumulative perpetual Series E Preferred Stock, liquidation preference $1,000 per share (equivalent to $25 per depositary share) at an aggregate offering price of $450 million.

CFG intends to use the net proceeds of the offering for general corporate purposes. The offering is expected to close on Oct...