Holders of the notes will receive the full principal amount, supplemented by accrued and unpaid interest calculated up to the redemption date. Following the transaction, interest accrual on these specific financial instruments will terminate. The bank is coordinating the redemption process through The Depository Trust Company to facilitate payment to all noteholders.
In section Releases
PNC Financial to Redeem $1.25 Billion in Senior Notes Early
The PNC Financial Services Group confirmed plans to retire its 6.615% Fixed Rate/Floating Rate senior notes on October 20, 2026. This move clears the bank’s balance sheet of $1.25 billion in debt exactly one year ahead of the securities' original scheduled maturity date of October 20, 2027.

Based in Pittsburgh, The PNC Financial Services Group remains one of the largest diversified financial institutions in the United States. The organization provides a broad spectrum of retail and commercial banking, alongside specialized asset and wealth management services to corporate and government entities.
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