Citizens Financial Group 8-K: Preferred Stock Actions
Ticker: CFG-PI · Form: 8-K · Filed: May 23, 2024 · CIK: 759944
| Field | Detail |
|---|---|
| Company | Citizens Financial Group Inc/Ri (CFG-PI) |
| Form Type | 8-K |
| Filed Date | May 23, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.01, $1,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: preferred-stock, corporate-action, disclosure
Related Tickers: CFG
TL;DR
CFG filed an 8-K detailing preferred stock actions for Series D, E, and H.
AI Summary
Citizens Financial Group, Inc. (CFG) filed an 8-K on May 23, 2024, to report on material modifications to security holder rights and other events. The filing specifically details actions related to their Series D, Series E, and Series H preferred stock depositary shares, effective May 17, 2024.
Why It Matters
This filing indicates changes or actions concerning Citizens Financial Group's preferred stock series, which could impact investors holding these specific securities.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of corporate actions related to preferred stock and does not indicate significant financial distress or operational changes.
Key Players & Entities
- CITIZENS FINANCIAL GROUP INC/RI (company) — Filer
- 0000759944 (company) — Central Index Key
- Series D (security) — Preferred Stock Series
- Series E (security) — Preferred Stock Series
- Series H (security) — Preferred Stock Series
FAQ
What specific material modifications were made to the rights of security holders?
The filing indicates actions related to Depositary Shares for Series D (6.350% Fixed-To-Floating Rate Non-Cumulative Perpetual Preferred Stock), Series E (5.000% Fixed-Rate Non-Cumulative Perpetual Preferred Stock), and Series H (7.375% Fixed-Rate Non-Cumulative Perpetual Preferred Stock), effective May 17, 2024.
What is the CIK for Citizens Financial Group?
The Central Index Key (CIK) for Citizens Financial Group, Inc. is 0000759944.
When was this 8-K filing submitted?
This 8-K filing was submitted on May 23, 2024.
What are the interest rates for the mentioned preferred stock series?
Series D has a 6.350% Fixed-To-Floating Rate, Series E has a 5.000% Fixed-Rate, and Series H has a 7.375% Fixed-Rate.
What is the primary business of Citizens Financial Group?
Citizens Financial Group, Inc. operates in the Commercial Banks sector, with SIC code 6022.
Filing Stats: 1,255 words · 5 min read · ~4 pages · Grade level 10.9 · Accepted 2024-05-23 16:14:03
Key Financial Figures
- $0.01 — nge on which registered Common stock, $0.01 par value per share CFG New York St
- $1,000 — ck, Series H, liquidation preference of $1,000 per share (the "Series H Preferred Stoc
Filing Documents
- d793166d8k.htm (8-K) — 44KB
- d793166dex11.htm (EX-1.1) — 149KB
- d793166dex51.htm (EX-5.1) — 7KB
- 0001193125-24-145975.txt ( ) — 419KB
- cfg-20240517.xsd (EX-101.SCH) — 5KB
- cfg-20240517_def.xml (EX-101.DEF) — 15KB
- cfg-20240517_lab.xml (EX-101.LAB) — 25KB
- cfg-20240517_pre.xml (EX-101.PRE) — 16KB
- d793166d8k_htm.xml (XML) — 10KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 1.1 Underwriting Agreement, dated May 16, 2024, among Citizens Financial Group, Inc. and Morgan Stanley & Co. LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, UBS Securities LLC, Wells Fargo Securities, LLC and Citizens JMP Securities, LLC, as representatives of the several underwriters listed on Schedule I thereto 3.1 Certificate of Designations of the Registrant with respect to the Series H Preferred Stock, dated May 17, 2024, filed with the Secretary of State of the State of Delaware and effective May 17, 2024 (incorporated herein by reference to Exhibit 3.2 of the Registration Statement on Form 8-A, filed May 23, 2024) 4.1 Filed as Exhibit 3.1 4.2 Deposit Agreement, dated May 23, 2024, among Citizens Financial Group, Inc. and Computershare Inc. and Computershare Trust Company, N.A., acting jointly as depositary, and the holders from time to time of the Depositary Receipts described therein (incorporated herein by reference to Exhibit 4.1 of the Registration Statement on Form 8-A, filed May 23, 2024) 4.3 Form of Depositary Receipt (included as Exhibit A to Exhibit 4.2) 5.1 Opinion of Sullivan & Cromwell LLP 23.1 Consent of Sullivan & Cromwell LLP (included in Exhibit 5.1) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Citizens Financial Group, Inc. (Registrant) Date: May 23, 2024 By: /s/ Robin S. Elkowitz Name: Robin S. Elkowitz Title: Executive Vice President, Deputy General Counsel and Secretary