PNC Bank 2012 Annual Report Download - page 254

N OTE 27 S UBSEQUENT E VENTS
On January 28, 2013, PNC Bank, N.A. issued:
• $750 million of fixed rate senior notes with a maturity date of January 28, 2016. Interest is payable semi-annually, at a
fixed rate of .80%, on January 28 and July 28 of each year, beginning on July 28, 2013.
• $250 million of floating rate senior notes with a maturity date of January 28, 2016. Interest is payable at the 3-month
LIBOR rate, reset quarterly, plus a spread of .31% on January 28, April 28, July 28, and October 28 of each year,
beginning on April 28, 2013.
• $750 million of subordinated notes with a maturity date of January 30, 2023. Interest is payable semi-annually, at a fixed
rate of 2.950%, on January 30 and July 30 of each year, beginning on July 30, 2013.
On January 31, 2013, we transferred 205,350 shares of BlackRock Series C Preferred Stock to BlackRock in connection with our
LTIP obligation. After this transfer, we hold approximately 1.3 million shares of BlackRock Series C Preferred Stock which are
available to fund a portion of awards under the BlackRock LTIP programs.
On February 7, 2013, we announced that on March 15, 2013 we will redeem all $375 million of Fixed-To-Floating Rate Non-
cumulative Exchangeable Perpetual Trust Securities issued by PNC Preferred Funding Trust III (REIT Preferred Securities) with a
current distribution rate of 8.7%. The redemption price will be $100,000 per security. The previously declared regular first quarter
distribution on the securities is payable on March 15, 2013 to holders of record on March 1, 2013.
The PNC Financial Services Group, Inc. – Form 10-K 235