PNC Financial will redeem $2.25 billion of notes due 2022 at par

By Mary-Katherine Stinson

Lexington, Ky., Jan. 6 – PNC Financial Services Group, Inc. announced the early redemption of two series of notes in a press release on Thursday.

The bank will redeem all $1.25 billion outstanding senior bank notes due Feb. 17, 2022 (Cusip: 69353RFB9) issued by PNC Bank NA at par plus interest on Jan. 18.

These securities have a distribution rate of 2.625%

The bank will also redeem all $1 billion outstanding senior notes due March 8, 2022 (CUSIP: 693476BN2) issued by PNC as successor-in-interest to PNC Funding Corp. at par plus interest on Feb. 7.

These securities have a distribution rate of 3.3%.

Payment will be made through the facilities of Depository Trust Co.

PNC is a financial services company based in Pittsburgh.

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