PNC Announces Redemption of Senior Floating Rate Bank Notes Due Dec. 2, 2024 and 5.671% Fixed Rate/Floating Rate Senior Notes Due Oct. 28, 2025

News provided by

The PNC Financial Services Group, Inc.

Oct 22, 2024, 08:29 ET

PITTSBURGH, Oct. 22, 2024 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today announced the redemption of, on Nov. 4, 2024, all outstanding Senior Floating Rate Bank Notes due Dec. 2, 2024 issued by PNC Bank, National Association in the amount of $200,000,000 (CUSIP 69353RFV5). The securities have an original scheduled maturity date of Dec. 2, 2024. The redemption price will be equal to 100% of the principal amount, plus any accrued and unpaid interest to the redemption date of Nov. 4, 2024. Interest on the Senior Floating Rate Bank Notes will cease to accrue on the redemption date.

PNC will also redeem, on Oct. 28, 2024, all outstanding 5.671% Fixed Rate/Floating Rate Senior Notes due Oct. 28, 2025 issued by PNC in the amount of $1,000,000,000 (CUSIP 693475BH7). The securities have an original scheduled maturity date of Oct. 28, 2025. The redemption price will be equal to 100% of the principal amount, plus any accrued and unpaid interest to the redemption date of Oct. 28, 2024. Interest on the 5.671% Fixed Rate/Floating Rate Senior Notes will cease to accrue on the redemption date.

Payment of the redemption price for the Senior Floating Rate Bank Notes and the 5.671% Fixed Rate/Floating Rate Senior Notes will be made through the facilities of the Depository Trust Company.

The PNC Financial Services Group, Inc. is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.

CONTACTS

MEDIA:
Kristen Pillitteri
(412) 762-4550
[email protected]

INVESTORS:
Bryan Gill
(412) 768-4143
[email protected]

SOURCE The PNC Financial Services Group, Inc.