Corporate ActionJul 31, 2026, 06:06 AM
Citizens Financial Group Issues Series J Preferred Stock
AI Summary
Citizens Financial Group, Inc. announced the issuance of 400,000 shares of its 6.750% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series J, with a liquidation preference of $1,000 per share. The company filed a Certificate of Designations on July 27, 2026, outlining the preferences and rights of this new stock. An underwriting agreement for the public offering was signed on July 21, 2026, which includes certain restrictions on dividend payments for common stock if Series J dividends are not met.
Key Highlights
- Issued 400,000 shares of 6.750% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series J.
- Series J Preferred Stock has a liquidation preference of $1,000 per share.
- Restrictions on common stock dividends if Series J dividends are not declared or paid.
- Certificate of Designations filed on July 27, 2026, establishing the stock's terms.
- Underwriting agreement for the public offering entered into on July 21, 2026.
Price Impact
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