0000713676false00007136762024-10-302024-10-30

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
October 30, 2024
Date of Report (Date of earliest event reported)
THE PNC FINANCIAL SERVICES GROUP, INC.
(Exact name of registrant as specified in its charter)
Commission File Number 001-09718
Pennsylvania25-1435979
(State or other jurisdiction of(I.R.S. Employer
incorporation)Identification No.)
The Tower at PNC Plaza
300 Fifth Avenue
Pittsburgh, Pennsylvania 15222-2401
(Address of principal executive offices, including zip code)
(888) 762-2265
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to 12(b) of the Act:
Title of Each ClassTrading Symbol(s)
 Name of Each Exchange
    on Which Registered    
Common Stock, par value $5.00PNCNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange




Item 8.01 Other Events.

On October 30, 2024, The PNC Financial Services Group, Inc. (“PNC”) issued a press release announcing the redemption on December 2, 2024 of $500,000,000 of Depositary Shares (CUSIP: 693475AM7) (the “Depositary Shares”) representing interests in PNC’s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series R (the “Series R Preferred Stock”). Each Depositary Share represents a 1/100th interest in a share of the Series R Preferred Stock. All 500,000 Depositary Shares currently outstanding will be redeemed. The Depositary Shares will be redeemed at a redemption price of $1,000 per Depositary Share. Such redemption price does not include the regular quarterly dividend on the Depositary Shares that was separately declared and will be paid separately on December 2, 2024 to holders of record on the record date for such dividend payment in the customary manner.

The Depositary Shares are held through the Depository Trust Company (“DTC”) and will be redeemed in accordance with the procedures of DTC. Payment to DTC will be made by Computershare Trust Company, N.A., the Depositary, in accordance with the Deposit Agreement governing the Depositary Shares.

A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.

(d)    Exhibits.
NumberDescriptionMethod of Filing
99.1Filed herewith
104The cover page of this Current Report on Form 8-K, formatted as an inline XBRL.







































SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
THE PNC FINANCIAL SERVICES GROUP, INC.
(Registrant)
Date:October 30, 2024By:/s/ Gregory H. Kozich
Gregory H. Kozich
Senior Vice President and Controller
 
- 3-

News Release CONTACTS MEDIA: Kristen Pillitteri (412) 762-4550 media.relations@pnc.com INVESTORS: Bryan Gill (412) 768-4143 investor.relations@pnc.com PNC Announces Redemption Of All Depositary Shares Representing Interests In Series R Preferred Stock PITTSBURGH, Oct. 30, 2024 – The PNC Financial Services Group, Inc. (NYSE: PNC) today announced the redemption on Dec. 2, 2024, of $500,000,000 of Depositary Shares (CUSIP: 693475AM7) (the “Depositary Shares”) representing interests in PNC’s Fixed-To-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series R (the “Series R Preferred Stock”). Each Depositary Share represents a 1/100th interest in a share of the Series R Preferred Stock. All 500,000 Depositary Shares currently outstanding will be redeemed. The Depositary Shares will be redeemed at a redemption price of $1,000 per Depositary Share. Such redemption price does not include the regular quarterly dividend on the Depositary Shares that was separately declared and will be paid separately on Dec. 2, 2024, to holders of record on the record date for dividend payment in the customary manner. The Depositary Shares are held through the Depository Trust Company (“DTC”) and will be redeemed in accordance with the procedures of DTC. Payment to DTC will be made by Computershare Trust Company, N.A., the Depositary, in accordance with the Deposit Agreement governing the Depositary Shares. The address for Computershare Trust Company, N.A. is P.O. Box 43078, Providence, RI, 02940 or, for courier delivery, 150 Royall Street, Canton, MA 02021. The PNC Financial Services Group, Inc. is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com. # # # Exhibit 99.1

 
v3.24.3
Cover Page
Oct. 30, 2024
Cover [Abstract]  
Title of 12(b) Security Common Stock, par value $5.00
Written Communications false
Entity Incorporation, State or Country Code PA
Document Type 8-K
Entity Central Index Key 0000713676
Amendment Flag false
Entity Registrant Name PNC FINANCIAL SERVICES GROUP, INC.
Entity File Number 001-09718
Entity Tax Identification Number 25-1435979
Entity Address, Address Line One 300 Fifth Avenue
Entity Address, City or Town Pittsburgh
Entity Address, State or Province PA
Entity Address, Postal Zip Code 15222-2401
City Area Code 888
Local Phone Number 762-2265
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Trading Symbol PNC
Security Exchange Name NYSE
Document Period End Date Oct. 30, 2024
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