Citizens Financial Group, Inc. announced the pricing of $800 million of Citizens Bank, N.A. (“CBNA”) 4.575% fixed/floating rate senior notes due 2028 (the “Notes”).
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CBNA intends to use the net proceeds of the notes offering for general corporate purposes. The notes offering is expected to close on August 9, 2022, subject to customary closing conditions.
Barclays Capital Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Citizens Capital Markets, Inc. are acting as joint book-running managers for the notes offering.
The Notes are being offered under CBNA’s $10.0 billion Global Bank Note Program. The Notes are not deposits and are neither insured nor approved by the Federal Deposit Insurance Corporation or any other government agency and are subject to investment risk, including the possible loss of principal. The Notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”) and are being offered pursuant to an exemption from registration under the Securities Act provided by Section 3(a)(2) thereof. A purchaser of the Notes, in making a purchase, will be deemed to have represented and agreed that it is an institution that is an accredited investor within the meaning of the SEC’s Rule 501(a) under the Securities Act, that it is purchasing the Notes for its own account or the account(s) of one or more other investors that are accredited investors and that it, or each of the other accredited investors, owning a beneficial interest in a Note will hold an undivided beneficial interest in a principal amount of not less than $250,000 at all times.
This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, these securities, nor shall there be any sale of these securities 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.
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