PNC to redeem $1.25 billion in senior notes ahead of maturity

The PNC Financial Services Group, Inc. (NYSE: PNC) announced the early redemption of $1.25 billion in outstanding 6.615% Fixed Rate/Floating Rate Senior Notes, originally due Oct. 20, 2027.

The redemption is scheduled for Oct. 20, 2026, one year before the notes' original maturity date. The redemption price will equal 100% of the principal amount, plus any accrued and unpaid interest up to the redemption date. Interest on the notes will cease to accrue on that date.

The notes, identified by CUSIP 693475 BT1, were issued by PNC in the amount of $1,250,000,000. Payment will be processed through the facilities of The Depository Trust Company.

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