Fifth Third Prices $1.7B Offering at $14 per Share

Fifth Third Bancorp FITB today announced that it has priced a public offering of 121,428,572 shares of its common stock at a price to the public of $14.00 per share, or $1.7 billion in aggregate gross proceeds. Fifth Third intends to use the proceeds, together with the net proceeds of a planned senior debt offering and other available funds, to repurchase in full all 136,320 shares of its Series F Preferred Stock issued to the U.S. Treasury under its Troubled Asset Relief Program ("TARP") Capital Purchase Program, after notification to and approval by the U.S. Treasury.