Citizens Financial Group, the US banking arm of RBS with 1,230 branches across the Northeast and Midwest, raised $3 billion by offering 140 million shares (all secondary) at $21.50, below the range of $23 to $25. Citizens Financial Group plans to list on the NYSE under the symbol CFG. Morgan Stanley, Goldman Sachs, J.P. Morgan, Barclays, Citi, Deutsche Bank, RBS and Wells Fargo Securities acted as lead managers on the deal.
