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PNC Capital Trust D, 6.125% Capital Securities
Ticker Symbol: PNU* CUSIP: 69350H202 Exchange: NYSE
* NOTE: This security is no longer trading as of 4/25/2012
Security has been Called for: Wednesday, April 25, 2012
March 22, 2012 -- The PNC Financial Services Group, Inc. 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 (NYSE: PNU) (CUSIP 69350H202) and b) $6,000,000 of 10.18% MMCapS capital securities issued by Yardville Capital Trust III. 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.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: PNC Capital Trust D, 6.125% Capital 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 12/18/2008 at $25 per share plus accrued and unpaid dividends, maturing 12/15/2033, distributions of 6.125% ($1.53125) per annum are paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the 15th calendar day prior to the payment date. The company has the right, at any time, to defer dividend payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 6.125% Subordinated Deferrable Interest Debentures due 12/15/2033 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.
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Go to Parent Company's Record (PNC)
IPO - 12/12/2003 - 12.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $300.0 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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