PITTSBURGH, Nov. 1, 2012 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today announced that it has successfully remarketed $500,100,000 aggregate principal amount of its Remarketable 8.729% Junior Subordinated Notes due 2043 (the "Notes"), as required by the Fourth Supplemental Indenture between PNC (successor to National City Corporation) ("PNC") and The Bank of New York Mellon, successor to The Bank of New York Mellon Trust Company, N.A. (formerly known as the Bank of New York Trust Company, N.A. ), as Trustee (the Bank of New York Mellon"), dated as of Jan. 30, 2008, to the Junior Subordinated Indenture between PNC and The Bank of New York Mellon, dated as of Nov. 3, 2006. As a result of the remarketing, the interest rate on the Notes was reset to a rate of 2.866% per annum, commencing on Nov. 9, 2012 and the maturity of the Notes was adjusted to Nov. 9, 2019.
The PNC Financial Services Group, Inc. 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.
William H. Callihan
SOURCE PNC Financial Services Group, Inc.