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Prospect News home > News index > List of issuers P > Headlines for PNC Financial Services Group Inc. > News item
Published on 4/25/2012 in the Prospect News Investment Grade Daily, Prospect News Liability Management Daily and Prospect News Preferred Stock Daily.

National City to redeem all $500 million of 6.625% trust preferreds

By Tali David

Minneapolis, April 25 - PNC Financial Services Group, Inc.'s National City Capital Trust III called all $500 million of its 6.625% trust preferred securities, according to a redemption notice.

The trust preferreds, which are due May 25, 2047, will be redeemed at par plus the applicable premium on May 25.

Bank of New York Mellon is the agent.

The trust was originally established by National City Corp., which was acquired by PNC in 2008. PNC is a financial services company based in Pittsburgh.


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