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PNC Capital Trust E, 7 3/4% Trust Preferred Securities
Ticker Symbol: PNH*     CUSIP: 69350S208     Exchange: NYSE
Security Type:   Trust Preferred Security
* NOTE: This security is no longer trading as of 8/07/12

Security has been Called for:  Monday, July 30, 2012

June 28, 2012 -- The PNC Financial Services Group, Inc. today announced that it has submitted redemption notices to the property trustees for redemption on July 30, 2012, of all of the outstanding of the following trust preferred securities: a) $450,000,000 of trust preferred securities issued by PNC Capital Trust E (PNH) (CUSIP 69350S 208) and b) $517,500,000 of enhanced trust preferred securities issued by National City Capital Trust IV (NYSE:NCCPRC) (CUSIP 63540U207). The PNC E TPS have a current distribution rate of 7.750 percent and a scheduled redemption date of March 15, 2038. The NCCT IV TPS have a current distribution rate of 8.000 percent and a scheduled maturity date of Sept. 15, 2047. In each case, the redemption price will be $25 per security, which reflects 100 percent of the liquidation amount, plus accrued and unpaid distributions to the redemption date. The redemptions will be funded with available cash. Pursuant to the terms of the Trust Preferred Securities, PNC may redeem these Trust Preferred Securities within 90 days of a "Capital Treatment Event" or "Regulatory Capital Event" (as defined in the documents governing those securities), as the case may be. PNC has determined that a Capital Treatment Event or Regulatory Capital Event, as the case may be, occurred upon approval by the Board of Governors of the Federal Reserve System on June 7, 2012 of a joint notice of proposed rulemaking with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency addressing, among other matters, Section 171 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, and providing detailed information regarding the cessation of Tier 1 capital treatment for outstanding trust preferred securities. ____________ This security is possibly subject to an early call as a result of the occurrence of a capital treatment event (see prospectus for further information) stemming from the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  PNC Capital Trust E, 7 3/4% Trust Preferred Securities, liquidation amount $25 per share, guaranteed by The PNC Financial Services Group Inc. (NYSE: PNC) (See our definition of Guaranteed in our Glossary of Income Investing Terms for the technicalities of the guarantee), redeemable at the issuer's option on or after 3/15/2013 at $25 per share plus accrued and unpaid dividends, and maturing 3/15/2038 which may be extended to 3/15/2068. Distributions of 7.75% ($1.9375) per annum are paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the record date which will be the last day of the month prior to the payment date (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Dividends paid by trust preferred securities are derived from interest paid to the underlying debt securities and therefore are NOT eligible for the 15% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. The company has the right, at any time, to defer dividend payments for up to 40 consecutive quarters without giving rise to an event of default (but not beyond the maturity date) and up to 20 consecutive quarters before the alternative payment mechanism takes effect. The trust's assets consist of the 7 3/4% Junior Subordinated Deferrable Interest Notes due 3/15/2068 which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.
Stock
Exchange
Cpn Rate
Ann Amt
LiqPref
CallPrice
Call Date
Matur Date
Moodys/S&P
Dated
Distribution Dates 15%
Tax Rate
NYSE
Chart
7.75%
$1.9375
$25.00
$25.00
Called for
7/30/12

3/15/2068
Baa2 / BBB
6/20/12
3/15, 6/15, 9/15 & 12/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
No

Goto Parent Company's Record (PNC)

IPO - 2/8/2008 - 18.00 Million Shares @ $25.00/share.    Link to IPO Prospectus
Previous Ticker Symbol: PNCEP    Changed: 2/19/08
Market Value $ 450 Million

Company's Online Information Links
HOME PAGE:     http://www.pnc.com/
Company's Investor Relations Information Goto Investor Relations Information
Company's Online News Releases Goto News Releases
Online Company Profile Goto Online Profile

Company's Online SEC EDGAR Filings
Company's SEC EDGAR Filings Goto SEC Filings

Company's Email Address Links
Email Address investor.relations@pnc.com
Printed Material Request Form on Website Goto Email Form

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 412-762-8257
Toll Free Phone Number 800-843-2206
CEO - James E. Rohr CFO - Richard J. Johnson

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