PNC Announces Redemption of all Depositary Shares Representing Interests in Series S Preferred Stock
Key Highlights
- ➤PNC (PNC) will redeem all 525,000 Series S depositary shares Nov. 2, 2026
- ➤Redemption covers $525,000,000 of Series S preferred-stock depositary shares
- ➤Redemption price is $1,000 per depositary share, excluding unpaid dividends
PNC Announces Redemption of all Depositary Shares Representing Interests in Series S Preferred Stock PR Newswire
PITTSBURGH, Sept. 29, 2026 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today announced the redemption on Nov. 1, 2026 (which, due to the occurrence of a non-business day, will shift to Nov. 2, 2026), of $525,000,000 of Depositary Shares (CUSIP: 693475 AQ8) (the "Depositary Shares") representing interests in PNC's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series S (the "Series S Preferred Stock"). Each Depositary Share represents a 1/100th interest in a share of the Series S Preferred Stock. All 525,000 Depositary Shares currently outstanding will be redeemed.
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