Citizens Financial Group completed a $400 million underwritten public offering of its 6.750% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock.
BofA Securities, J.P. Morgan Securities, Morgan Stanley & Co., Wells Fargo Securities and Citizens JMP Securities acted as joint book-running managers. Goldman Sachs & Co. and RBC Capital Markets acted as co-managers.
Citizens Financial Group is a financial holding company headquartered in Providence, Rhode Island with $233.8 billion in assets as of June 30, 2026.
The S&C team representing Citizens Financial Group on the offering included Ben Weiner, Ben Rump and Ryan Lessing. Jeff Hochberg, Saul Brander and Julia Fleurantin advised on tax matters. Kseniia Samokhina, Emily Thomson and trainee solicitor Urvita Roy advised on UK and EU matters.