PNC Announces Redemption of All Depositary Shares of Series R Preferred Stock

Details

announced the redemption of $500 million of Depositary Shares representing interests in its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series R on December 2, 2024, at a price of $1,000 per Depositary Share. Each Depositary Share represents a 1/100th interest in a share of the Series R Preferred Stock. The redemption does not include the regular quarterly dividend, which will be paid separately. The Depositary Shares are held through the Depository Trust Company and will be redeemed in accordance with DTC procedures.

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About PNC Financial Services Group, Inc.

PNC Financial Services Group, Inc. is a diversified financial services institution that delivers comprehensive banking and financial solutions across the United States. Renowned for its broad range of services, PNC offers personal banking, mortgage and loan products, as well as wealth management and institutional banking solutions. It serves individual consumers, small businesses, and corporations, providing tailored services to meet various financial needs. PNC is distinguished by its regional community banking model, fostering strong local connections while offering the capabilities of a large financial organization. The company plays a crucial role in the financial market by facilitating capital flow and supporting economic growth through its lending and financial advisory services. As one of the largest banks in the United States, PNC continues to expand its footprint and enhance customer satisfaction through technology-driven innovations and strategic growth initiatives.