Citizens Financial Group Announces Pricing of $1.5 Billion of Citizens Bank, N.A. Senior Notes

PROVIDENCE, R.I.--()--Citizens Financial Group, Inc. (NYSE: CFG) today announced the pricing of an offering of $1.5 billion aggregate principal amount of senior notes (collectively, the “securities”), to be issued by Citizens Bank, N.A. (the “Bank”), consisting of:

  • $750 million 1.600% senior unsecured notes due 2017 at an issue price of 99.947%
  • $750 million 2.450% senior unsecured notes due 2019 at an issue price of 99.906%

The securities are being offered under the Bank’s Global Bank Note Program dated December 1, 2014. The offering is expected to close on December 4, 2014, subject to customary closing conditions. The Bank intends to use the proceeds for general corporate purposes.

Morgan Stanley & Co. LLC and RBS Securities Inc. are acting as bookrunners for the offering.

The securities 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 securities 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.

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. (NYSE: CFG) is one of the nation’s oldest and largest financial institutions, with $131.3 billion in assets as of September 30, 2014. Headquartered in Providence, Rhode Island, the company offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Consumer Banking helps its retail customers “bank better” with mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 Citizens Bank and Charter One branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Citizens also provides mortgage lending, auto lending, student lending and commercial banking services in selective markets nationwide. In Commercial Banking, Citizens offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services including lending and deposits, capital markets, treasury services, foreign exchange and interest rate hedging, leasing and asset finance, specialty finance and trade finance. Citizens operates via subsidiaries Citizens Bank, N.A., and Citizens Bank of Pennsylvania. Additional information about Citizens and its full line of products and services can be found at www.citizensbank.com.

Contacts

Citizens Financial Group, Inc.
Media:
Jim Hughes, 781-751-5404
or
Investors:
Ellen A. Taylor, 203-897-4240

Release Summary

Citizens Financial Group Announces Pricing of $1.5 Billion of Citizens Bank, N.A. Senior Notes

Contacts

Citizens Financial Group, Inc.
Media:
Jim Hughes, 781-751-5404
or
Investors:
Ellen A. Taylor, 203-897-4240