PNC Financial to redeem series O perpetual preferred stock on Nov. 1

By Wendy Van Sickle

Columbus, Ohio, Oct. 2 – PNC Financial Services Group, Inc. announced the redemption of all $1 billion outstanding fixed-to-floating rate non-cumulative perpetual preferred stock, series O, (Cusip: 693475AK1) on Nov. 1, according to an 8-K filing with the Securities and Exchange Commission.

All 1 million currently outstanding depository shares representing a 1/100th interest in a share of the preferreds will be redeemed at $1,000 apiece. The regular quarterly dividend will be paid separately on Nov. 1.

PNC is a financial services company based in Pittsburgh.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.