PNC Financial Services Group to Redeem All Series S Preferred Stock Depositary Shares
On September 29, 2026, the PNC Financial Services Group, a leading provider in the financial services sector, made a significant announcement regarding its Series S Preferred Stock. The company declared that it would initiate the redemption of all outstanding depositary shares representing interests in this stock series. This action is set for November 1, 2026. However, since the date falls on a non-business day, the actual redemption will take place on November 2, 2026, ensuring all procedural aspects are adhered to.
The total amount earmarked for this redemption stands at approximately $525 million, a figure that emphasizes PNC's commitment to managing its capital structure effectively. Each depositary share, equating to a 1/100th interest in a share of the Series S Preferred Stock, will be redeemed at the price of $1,000 per share. It is important to note that this redemption price does not factor in any dividends declared but unpaid at the time of redemption. Therefore, any semiannual dividends that have been declared but not yet disbursed will be paid out on the redemption date to the holders of record who are listed prior to this date.
These depositary shares are held through the Depository Trust Company (DTC), and the redemption process will be executed following the DTC’s established protocols. PNC has designated Computershare Trust Company, N.A. to facilitate the payment associated with the redemption, reflecting the firm's careful planning in ensuring a smooth transaction process for its investors. The contact information for Computershare includes their mailing address at P.O. Box 43078, Providence, RI, and their courier delivery address at 150 Royall Street, Canton, MA.
PNC Financial Services Group, Inc., recognized as one of the largest and most diversified financial institutions in the United States, continues to focus on fostering strong ties with its customers and communities. By offering a comprehensive array of retail and business banking services, including various lending products, corporate and government entity services, as well as wealth and asset management, PNC is well-positioned to meet the evolving needs of its clientele. The company takes pride in its structured approach to banking, effectively supporting its customers through both traditional and innovative financial solutions.
As the financial landscape evolves, PNC remains committed to enhancing its offerings. The redemption of the Series S Preferred Stock represents a strategic move that can lead to potential reinvestment opportunities aimed at bolstering PNC's overall objectives in the financial market. Investors and stakeholders are encouraged to stay informed about further developments regarding their holdings and PNC's future initiatives. For more details about the company and its services, individuals can visit the official PNC website at www.pnc.com.
For media inquiries, Anne Pace is available at (631) 338-3268, while investor-related questions can be directed to Bryan Gill at (412) 768-4143, ensuring that all stakeholders have the resources they need to navigate this substantial announcement effectively.
The total amount earmarked for this redemption stands at approximately $525 million, a figure that emphasizes PNC's commitment to managing its capital structure effectively. Each depositary share, equating to a 1/100th interest in a share of the Series S Preferred Stock, will be redeemed at the price of $1,000 per share. It is important to note that this redemption price does not factor in any dividends declared but unpaid at the time of redemption. Therefore, any semiannual dividends that have been declared but not yet disbursed will be paid out on the redemption date to the holders of record who are listed prior to this date.
These depositary shares are held through the Depository Trust Company (DTC), and the redemption process will be executed following the DTC’s established protocols. PNC has designated Computershare Trust Company, N.A. to facilitate the payment associated with the redemption, reflecting the firm's careful planning in ensuring a smooth transaction process for its investors. The contact information for Computershare includes their mailing address at P.O. Box 43078, Providence, RI, and their courier delivery address at 150 Royall Street, Canton, MA.
PNC Financial Services Group, Inc., recognized as one of the largest and most diversified financial institutions in the United States, continues to focus on fostering strong ties with its customers and communities. By offering a comprehensive array of retail and business banking services, including various lending products, corporate and government entity services, as well as wealth and asset management, PNC is well-positioned to meet the evolving needs of its clientele. The company takes pride in its structured approach to banking, effectively supporting its customers through both traditional and innovative financial solutions.
As the financial landscape evolves, PNC remains committed to enhancing its offerings. The redemption of the Series S Preferred Stock represents a strategic move that can lead to potential reinvestment opportunities aimed at bolstering PNC's overall objectives in the financial market. Investors and stakeholders are encouraged to stay informed about further developments regarding their holdings and PNC's future initiatives. For more details about the company and its services, individuals can visit the official PNC website at www.pnc.com.
For media inquiries, Anne Pace is available at (631) 338-3268, while investor-related questions can be directed to Bryan Gill at (412) 768-4143, ensuring that all stakeholders have the resources they need to navigate this substantial announcement effectively.
Topics Financial Services & Investing）
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