The PNC Financial Services Group, Inc. (NYSE: PNC) has announced a redemption of its preferred stock on September 29, 2026. The company will redeem all 525,000 Depositary Shares representing interests in its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series S.
The redemption is scheduled for November 1, 2026. Due to the occurrence of a non-business day, the actual payment date will be November 2, 2026. The Depositary Shares have a CUSIP of 693475 AQ8.
Each Depositary Share represents a 1/100th interest in a share of the Series S Preferred Stock. The redemption price is set at $1,000 per Depositary Share. This price does not include any declared but unpaid dividends.
Any semiannual dividends declared but not paid prior to the redemption date will be paid on the redemption date to holders of record on a date prior to the redemption, as set by the board of directors.
The Depositary Shares are held through the Depository Trust Company (DTC). Payment to DTC will be made by Computershare Trust Company, N.A., the Depositary, in accordance with the Deposit Agreement governing the shares.
