The redemption price is set at 100% of the principal amount, supplemented by any accrued and unpaid interest up to the July 23, 2026, date. According to the company, interest accrual on these notes will officially cease on that day. Payments will be processed through the facilities of The Depository Trust Company.
PNC Financial Services to Redeem $1 Billion in Senior Notes Early
The PNC Financial Services Group has announced the full redemption of its $1 billion in 5.102% fixed-to-floating rate senior notes. Originally slated for maturity in July 2027, the debt securities will be retired on July 23, 2026, as the institution moves to clear the outstanding obligation ahead of schedule.
This move affects the notes identified by CUSIP 693475 BY0. The Pittsburgh-based financial institution, which maintains a broad portfolio ranging from retail and business banking to corporate finance and wealth management, has not disclosed specific reasons for the early repayment beyond the formal announcement of the debt retirement.
Comments (0)
No comments yet. Be the first!