PITTSBURGH, March 22, 2012 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today announced that it has submitted redemption notices to the property trustees for redemption on April 25, 2012 of the following trust preferred securities: a) $300,000,000 of capital securities issued by the PNC Capital Trust D (the "PNC Capital Securities") (NYSE: PNU) (CUSIP 69350H202) and b) $6,000,000 of 10.18% MMCapS(sm) capital securities issued by Yardville Capital Trust III (the "Yardville Capital Securities").
The PNC Capital Securities have a current distribution rate of 6.125 percent and a maturity date of Dec. 15, 2033. The redemption price will be $25 per PNC Capital Security plus any accrued and unpaid distributions to the redemption date. The Yardville Capital Securities have a current distribution rate of 10.18% and a maturity date of June 8, 2031. The redemption price will be $1,050.90 per $1,000.00 in liquidation amount plus any accrued and unpaid distributions to the redemption date. The redemption is consistent with the capital plan submitted to the Board of Governors of the Federal Reserve and will be funded with available cash.
The paying agent for the PNC Capital Securities is Deutsche Bank Trust Company Americas, 60 Wall Street, MS NYC 60–2710, New York, New York 10005. The paying agent for the Yardville Capital Securities is Wilmington Trust Company, 1100 North Market Street, Rodney Square North, Wilmington, DE 19890.
The PNC Financial Services Group, Inc. ( www.pnc.com) is one of the nation's largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.CONTACTS: MEDIA : Fred Solomon (412) 762-4550 firstname.lastname@example.org INVESTORS: William H. Callihan (412) 762-8257 email@example.com SOURCE PNC Financial Services Group
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV