PNC Bank 2011 Annual Report Download - page 172

The $2.4 billion of junior subordinated debt included in the above table represents debt redeemable prior to maturity. The call price
and related premiums are discussed in Note 13 Capital Securities of Subsidiary Trusts and Perpetual Trust Securities.
N OTE 13 C APITAL S ECURITIES OF S UBSIDIARY T RUSTS AND P ERPETUAL T RUST S ECURITIES
At December 31, 2011, capital securities totaling $2.7 billion represented non-voting preferred beneficial interests in the assets of
the following Trusts:
Capital Securities of Subsidiary Trusts
Trust Date Formed Description of Capital Securities Redeemable
PNC Capital Trust C June 1998 $200 million due June 1, 2028, bearing
interest at a floating rate per annum equal to
3-month LIBOR plus 57 basis points. The
rate in effect at December 31, 2011 was
1.097%.
On or after June 1, 2008 at par.
PNC Capital Trust D December 2003 $300 million of 6.125% capital securities
due December 15, 2033.
On or after December 18, 2008 at par.
Fidelity Capital Trust II December 2003 $22 million due January 23, 2034 bearing an
interest rate of 3-month LIBOR plus 285
basis points. The rate in effect at
December 31, 2011 was 3.278%.
On or after January 23, 2009 at par.
Yardville Capital Trust VI June 2004 $15 million due July 23, 2034, bearing an
interest rate equal to 3-month LIBOR plus
270 basis points. The rate in effect at
December 31, 2011 was 3.116%.
On or after July 23, 2009 at par.
Fidelity Capital Trust III October 2004 $30 million due November 23, 2034 bearing
an interest rate of 3-month LIBOR plus 197
basis points. The rate in effect at
December 31, 2011 was 2.465%.
On or after November 23, 2009 at par.
Sterling Financial Statutory Trust III December 2004 $15 million due December 15, 2034 at a
fixed rate of 6%. The fixed rate remained in
effect until December 15, 2009 at which
time the securities began paying a floating
rate of 3-month LIBOR plus 189 basis
points. The rate in effect at December 31,
2011 was 2.436%.
On or after December 15, 2009 at par.
Sterling Financial Statutory Trust IV February 2005 $15 million due March 15, 2035 at a fixed
rate of 6.19%. The fixed rate remained in
effect until March 15, 2010 at which time
the securities began paying a floating rate of
3-month LIBOR plus 187 basis points. The
rate in effect at December 31, 2011 was
2.416%.
On or after March 15, 2010 at par.
MAF Bancorp Capital Trust I April 2005 $30 million due June 15, 2035 bearing an
interest rate of 3-month LIBOR plus 175
basis points. The rate in effect at
December 31, 2011 was 2.296%.
On or after June 15, 2010 at par.
MAF Bancorp Capital Trust II August 2005 $35 million due September 15, 2035 bearing
an interest rate of 3-month LIBOR plus 140
basis points. The rate in effect at
December 31, 2011 was 1.946%.
On or after September 15, 2010 at par.
James Monroe Statutory Trust III September 2005 $8 million due December 15, 2035 at a
fixed rate of 6.253%. The fixed rate
remained in effect until September 15, 2010
at which time the securities began paying a
floating rate of LIBOR plus 155 basis
points. The rate in effect at December 31,
2011 was 2.096%.
On or after December 15, 2010 at par.
Yardville Capital Trust III March 2001 $6 million of 10.18% capital securities due
June 8, 2031.
On or after June 8, 2011 at par plus a
premium of up to 5.09%.
The PNC Financial Services Group, Inc. – Form 10-K 163