PNC Announces Redemption of 4.758% Fixed Rate/Floating Rate Senior Notes Due Jan. 26, 2027

PNC (NYSE: PNC) announced it will redeem all outstanding 4.758% Fixed Rate/Floating Rate Senior Notes due Jan. 26, 2027 on Jan. 26, 2026.

Rhea-AI Summary

PNC (NYSE: PNC) announced it will redeem all outstanding 4.758% Fixed Rate/Floating Rate Senior Notes due Jan. 26, 2027 on Jan. 26, 2026. The notes were issued in the principal amount of $1,250,000,000 (CUSIP 693475 BL8). The redemption price is 100% of principal plus any accrued and unpaid interest to the redemption date; interest will cease to accrue on the redemption date. Payment will be made through the facilities of The Depository Trust Company.

PNC is described as a large diversified financial services institution offering retail and business banking, corporate and government services, wealth management and asset management.

Positive

• Redeems $1,250,000,000 of senior notes maturing Jan. 26, 2027
• Redemption price set at 100% of principal plus accrued interest

Negative

• Requires cash payment of $1,250,000,000 plus accrued interest on Jan. 26, 2026

Argus Jan 15 session

+1.28% close to close Open Argus

Details

News Market Reaction – PNC

On Jan 15, the day this news came out, PNC closed 1.28% above the previous close.

Data tracked by StockTitan Argus for the Jan 15 session.

Market Context

This announcement details the full redemption of $1.25B of 4.758% Fixed Rate/Floating Rate Senior No...

Analysis

This announcement details the full redemption of $1.25B of 4.758% Fixed Rate/Floating Rate Senior Notes originally due Jan. 26, 2027, now being called on Jan. 26, 2026 at 100% of principal plus accrued interest. It continues a series of liability and capital actions following recent note redemptions, dividends, and the FirstBank acquisition. Investors may track future disclosures on funding mix, net interest margins, and further capital deployment steps to understand the broader balance sheet strategy.

Key Figures

Senior notes amount: $1,250,000,000 Coupon rate: 4.758% Redemption price: 100% of principal +5 more

Senior notes amount

$1,250,000,000

4.758% Fixed/Floating Senior Notes due Jan. 26, 2027

Coupon rate

4.758%

Fixed Rate/Floating Rate Senior Notes being redeemed

Redemption price

100% of principal

Plus accrued and unpaid interest at Jan. 26, 2026 redemption

Redemption date

Jan. 26, 2026

Date interest ceases to accrue on the senior notes

Original maturity date

Jan. 26, 2027

Scheduled maturity for redeemed senior notes

Market cap

$83,314,062,915

Pre-news market capitalization for PNC

52-week high

$220.54

Pre-news 52-week high share price

52-week low

$145.12

Pre-news 52-week low share price

Historical Context

5 past events · Latest: Jan 06

5 events

1. Jan 06

   Debt redemption

   24h Move

   +1.0%

   Redeemed senior bank notes due 2027 at par plus accrued interest.

2. Jan 05

   Acquisition close

   24h Move

   +2.0%

   Closed FirstBank acquisition expanding presence in Colorado and Arizona.

3. Jan 05

   Dividend declaration

   24h Move

   +2.0%

   Declared $1.70 quarterly dividend on common shares and preferreds.

4. Dec 17

   Affordable housing fund

   24h Move

   +0.1%

   Closed LIHTC Fund 100 investing over $175M in affordable housing.

5. Dec 15

   Community initiative

   24h Move

   +0.1%

   Sponsored Taste of the Draft to support school meals and NFL FLAG kits.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

senior notes, fixed rate/floating rate, cusip

3 terms

senior notes financial

"all outstanding 4.758% Fixed Rate/Floating Rate Senior Notes due Jan. 26, 2027"

Senior notes are a type of loan that a company borrows from investors, promising to pay it back with interest. They are called "senior" because in case the company faces financial trouble, these lenders are paid back before others. This makes senior notes safer for investors compared to other types of loans or bonds.

fixed rate/floating rate financial

"4.758% Fixed Rate/Floating Rate Senior Notes due Jan. 26, 2027"

Fixed rate/floating rate describes whether the interest paid on a loan, bond, or deposit stays the same over time or changes with market rates. A fixed rate gives predictable income like a locked rent, while a floating rate moves with benchmark interest so payments rise or fall with market shifts; investors care because this affects cash‑flow certainty, sensitivity to rate changes, and overall investment risk and value.

cusip financial

"in the amount of $1,250,000,000 (CUSIP 693475 BL8)"

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

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AI-generated analysis. How Rhea-AI works. Not financial advice.

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PITTSBURGH, Jan. 15, 2026 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today announced the redemption of, on Jan. 26, 2026, all outstanding 4.758% Fixed Rate/Floating Rate Senior Notes due Jan. 26, 2027, issued by PNC in the amount of $1,250,000,000 (CUSIP 693475 BL8). The securities have an original scheduled maturity date of Jan. 26, 2027. The redemption price will be equal to 100% of the principal amount, plus any accrued and unpaid interest to the redemption date of Jan. 26, 2026. Interest on the 4.758% Fixed Rate/Floating Rate Senior Notes will cease to accrue on the redemption date.

Payment of the redemption price for the 4.758% Fixed Rate/Floating Rate Senior Notes will be made through the facilities of The Depository Trust Company.

The PNC Financial Services Group, Inc. is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.

CONTACTS

MEDIA:  
Kristen Pillitteri
(412) 762-4550
media.relations@pnc.com  

INVESTORS:
Bryan Gill
(412) 768-4143
investor.relations@pnc.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/pnc-announces-redemption-of-4-758-fixed-ratefloating-rate-senior-notes-due-jan-26--2027--302662441.html

SOURCE The PNC Financial Services Group, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is PNC redeeming on Jan. 26, 2026 (NYSE: PNC)?

PNC will redeem all outstanding 4.758% Fixed Rate/Floating Rate Senior Notes due Jan. 26, 2027 in the amount of $1,250,000,000 on Jan. 26, 2026.

What redemption price will PNC (NYSE: PNC) pay for the 4.758% notes?

The redemption price is 100% of principal plus any accrued and unpaid interest to Jan. 26, 2026.

When does interest stop accruing on the PNC 4.758% senior notes (CUSIP 693475 BL8)?

Interest on the notes will cease to accrue on the redemption date, Jan. 26, 2026.

How will PNC (NYSE: PNC) deliver payment for the redeemed notes?

Payment of the redemption price will be made through the facilities of The Depository Trust Company.

Which securities are being redeemed by PNC (NYSE: PNC)?

All outstanding 4.758% Fixed Rate/Floating Rate Senior Notes due Jan. 26, 2027, original CUSIP 693475 BL8.