Citizens Financial Fixed-to-Floating Now Trading

We notice the new Citizens Financial Group (NYSE:CFG) are now trading on the OTC Grey market under the ticker CFGLL. Shares are pricing in the $25.15-$25.25 area right now.

The final term sheet seems to have not hit the SEC website–we know the issue has an initial fixed portion at 6.35%, but we do not know what the ‘spread’ will be when the issue begins to float in 2024.

Maybe the SEC is slowed by the partial government shutdown–not certain if they need to ‘bless’ the final term sheet on these issues or not.

I guess we continue to wait.

Leave a Reply

Your email address will not be published. Required fields are marked *