PNC Financial redeems $525 million of depositary shares on Nov. 2
PNC•PNC Financial will redeem all 525,000 depositary shares tied to its Series S preferred stock on Nov. 2, 2026, paying holders $1,000 per share, or $525 million total.
1. Redemption details
PNC Financial will redeem all 525,000 depositary shares tied to its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series S. The redemption is set for Nov. 2, 2026, shifted from Nov. 1 because that date is a non-business day. The $1,000-per-share redemption price excludes declared but unpaid dividends; any declared semiannual dividend will be paid on the redemption date.
