Citizens Financial Group to redeem 4.3% subordinated notes early

PROVIDENCE, R.I. - Citizens Financial Group, Inc. (NYSE:CFG), currently trading near its 52-week high of $54.50, announced Wednesday it will redeem all outstanding 4.300% Fixed-Rate Subordinated Notes due December 3, 2025, ahead of schedule on November 3, 2025.

The redemption price will equal 100% of the principal amount plus any accrued and unpaid interest up to, but excluding, the redemption date, according to a press release issued by the bank.

Holders of the notes (CUSIP No. 174610AK1) will receive formal notice of the redemption with detailed instructions. Payment will be processed through The Depository Trust Company facilities.

Citizens Financial Group, headquartered in Providence, Rhode Island, is one of the nation’s oldest financial institutions with $218.3 billion in assets as of June 30, 2025. The bank operates approximately 1,000 branches and 3,000 ATMs across 14 states and the District of Columbia.

The early redemption comes as part of the company’s ongoing liability management strategy, though specific reasons for the early redemption were not provided in the announcement. For deeper insights into Citizens Financial Group’s financial health and detailed analysis, investors can access comprehensive research reports available on InvestingPro, which covers over 1,400 US stocks with expert analysis and actionable intelligence.

In other recent news, Citizens Financial Group’s stock rating was upgraded by Morgan Stanley from Equalweight to Overweight, with a new price target of $71.00, citing the company’s potential for profitability improvement and positive catalysts expected over the next year. Additionally, Citizens Bank announced a reduction in its prime lending rate to 7.25 percent from 7.50 percent, which will affect consumer and commercial lending products such as credit cards and home equity lines of credit. The company also revealed a $20 million commitment to workforce development programs from 2026 to 2028, following a previous $10 million initiative for 2024 and 2025, aimed at enhancing educational and career opportunities.

In corporate leadership changes, Citizens Financial Group appointed Aunoy Banerjee as the new Chief Financial Officer, effective October 24, with Banerjee transitioning from his role as CFO at Barclays Bank PLC. Truist Securities raised its price target for Citizens Financial Group to $52.00, maintaining a Hold rating, and highlighted the bank’s second-quarter earnings beat and positive third-quarter guidance as influential factors. These developments mark significant strategic and operational moves by Citizens Financial Group, potentially impacting its market positioning and investor outlook.

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