PNC Financial Services to Redeem $1 Billion in Senior Notes Early

The redemption price is set at 100% of the principal amount, supplemented by any accrued and unpaid interest up to the July 23, 2026, date. According to the company, interest accrual on these notes will officially cease on that day. Payments will be processed through the facilities of The Depository Trust Company.

This move affects the notes identified by CUSIP 693475 BY0. The Pittsburgh-based financial institution, which maintains a broad portfolio ranging from retail and business banking to corporate finance and wealth management, has not disclosed specific reasons for the early repayment beyond the formal announcement of the debt retirement.