Prospectus excerpt:  Each of the 14,000,000 depositary shares offered hereby (the “depositary shares”) represents a 1/1,000th interest in a share of 4.625% Non-Cumulative Preferred Stock, Series D, $25,000 stated amount (as defined herein) per share (equivalent to $25.00 per depositary share) (the “Series D preferred stock”) of Brighthouse Financial, Inc., deposited with Computershare Inc. and Computershare Trust Company, N.A. (collectively as depositary, the “Depositary”). The depositary shares are evidenced by depositary receipts. As a holder of depositary shares, you are entitled to a proportional fractional interest in all rights and preferences of the Series D preferred stock (including dividend, voting, redemption and liquidation rights). You must exercise these rights through the Depositary. We will pay dividends on the Series D preferred stock only when, as and if declared by our board of directors (or a duly authorized committee thereof) out of funds legally available for the payment of dividends. Any such dividends will be payable at a rate of 4.625% per annum, on a non-cumulative basis from the date of original issue, quarterly in arrears on the 25th day of March, June, September and December of each year, commencing on March 25, 2022. Payment of dividends on the Series D preferred stock is subject to certain restrictions as described elsewhere in this prospectus supplement, or in the documents incorporated by reference herein. Distributions will be made in respect of the depositary shares if and to the extent dividends are paid on the Series D preferred stock. Dividends on the Series D preferred stock will not be cumulative and will not be mandatory. Accordingly, if our board of directors (or a duly authorized committee thereof) has not declared a dividend in respect of any dividend period, we will have no obligation to pay dividends accrued for such dividend period on or after the dividend payment date for that dividend period, whether or not dividends on the Series D preferred stock are declared for any future dividend period.