PNC Financial Services Group 6.125% Fixed to Floating Non Cumulative, Perpetual Preferred Stock
By: Tim McPartland,
S&P Rating BBB Moodys Rating Baa3
Security Ticker Symbol PNC-P
----ADVERTISEMENT----
Market Traded ON NYSE
Dividend Payment Paid on the 1st of February, May, August and November beginning on 06/01/2013
Quarterly Dividend .383 Annual Dividend 1.531
Dividends will be fixed at 6.125% until 5/1/2022 and then dividend will float at 3 month libor plus 4.0675%
Securities may be redeemed, at the issuers option, as early as 05/01/2022 for a redemption price of $25/share plus accrued dividends
----ADVERTISEMENT----
Dividend Payment Will Likely be a Qualified Distributions
Maturity Date None
Company Investor Relations Page for PNC Financial
Below you can find the offering Prospectus and Final Pricing Document
Tim McPartland
Connect with Tim McPartland
Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
