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
corporate.communications@pnc.com
INVESTORS:
William H. Callihan
(412) 762-8257
investor.relations@pnc.com
SOURCE PNC Financial Services Group