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PNC Financial Services Group, $1.60 Cumul Convertible Preferred Stock, Series C
Ticker Symbol: PNC-C* CUSIP: 693475402 Exchange: NYSE
* NOTE: This security is no longer trading as of 10/01/2010
Security has been Called for: Friday, October 1, 2010
Aug. 9, 2010 -- The PNC Financial Services Group, Inc. today announced the redemption of all its $1.60 Cumulative Convertible Preferred Stock, Series C and $1.80 Cumulative Convertible Preferred Stock, Series D on the following terms:
* Series C - The redemption date will be Oct. 1, 2010 with a redemption price of $20.00 per share. The previously announced dividend payment of 40 cents per share is payable Oct. 1, 2010 to shareholders of record at the close of business Sept. 3, 2010.
* Series D - The redemption date will be Oct. 1, 2010 with a redemption price of $20.00 per share. The previously announced dividend payment of 45 cents per share is payable Oct. 1, 2010 to shareholders of record at the close of business Sept. 3, 2010.
Shareholders of the Series C and Series D Preferred Stock will receive official notice of the redemption in accordance with the provisions of The PNC Financial Services Group, Inc. Amended and Restated Articles of Incorporation. Shareholders of the Series C and Series D Preferred Stock who do not want to have their shares redeemed may exercise their right to convert their shares into shares of PNC's common stock, par value $5.00 per share, prior to 5:00 p.m. New York City time on the redemption date of Oct. 1, 2010. Computershare Trust Company, N.A. is the conversion agent and redemption agent. For more information, registered shareholders of the securities may contact Computershare at (800) 546-5141 or write to Computershare at P.O. Box 43011, Providence, RI 02940-3011. Shareholders owning shares through a broker, bank or other nominee should contact that party for information. Funds for the redemption will be deposited with Computershare on or before the redemption date.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: PNC Financial Services Group, Inc., $1.60 Cumulative Convertible Preferred Stock, Series C, liquidation preference $20 per share, redeemable on or after 5 years from the date of issue at $20 plus accrued and unpaid dividends, distributions of $1.60 per annum are paid quarterly on 1/1, 4/1, 7/1 & 10/1. The preferred shares are convertible any time at the holder's option with 2.4 Series C shares converting into 4.00 common shares of PNC Financial Services Group (NYSE: PNC), a current conversion price of $33.333 (calculated) per common share.
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Stock
Exchange |
Cpn Rate
Ann Amt |
LiqPref
CallPrice |
Call Date
Matur Date |
Moodys/S&P
Dated |
Conv Shrs
Conv Price |
Distribution Dates |
15%
Tax Rate |
NYSE
Chart
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8.00%
$1.60
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$20.00
$20.00
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Called for
10/01/2010
None
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Baa2
BBB
10/04/2009
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1.6667
$33.3333
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1/1, 4/1, 7/1 & 10/1
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
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YES
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Go to Parent Company's Record (PNC)
IPO - 10/21/1987 -
Market Value $14.5 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: One PNC Plaza, 249 Fifth Avenue, Pittsburgh, PA 15222 |
| Main Phone Number |
412-762-2000 |
| Fax Number |
412-762-7829 |
| Investor Relations
William H. Callihan
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412-762-8257
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| Toll Free Phone Number |
800-843-2206 |
| CEO - James E. Rohr |
CFO - Richard J. Johnson |
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