PNC Bank 2012 Annual Report Download - page 211

N OTE 14 C APITAL S ECURITIES OF S UBSIDIARY T RUSTS AND P ERPETUAL T RUST S ECURITIES
At December 31, 2012, PNC had $402 million in principal amount of outstanding junior subordinated debentures associated with
$390 million of trust preferred securities that were issued by various subsidiary statutory trusts. These trust preferred securities
represented non-voting preferred beneficial interests in the assets of the following Trusts:
Table 114: 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, 2012 was
.881%.
On or after June 1, 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, 2012 was 3.163%.
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, 2012 was 3.017%.
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, 2012 was 2.282%.
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,
2012 was 2.198%.
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, 2012 was
2.178%.
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, 2012 was 2.058%.
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, 2012 was 1.708%.
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,
2012 was 1.858%.
On or after December 15, 2010 at par.
Sterling Financial Statutory Trust V March 2007 $20 million due March 15, 2037 at a fixed
rate of 7%. The fixed rate remained in effect
until June 15, 2007 at which time the
securities began paying a floating rate of
3-month LIBOR plus 165 basis points. The
rate in effect at December 31, 2012 was
1.958%.
March 15, 2012 at par.
192 The PNC Financial Services Group, Inc. – Form 10-K