Monitor PNC's next quarterly filing for any replacement preferred issuance or changes to the capital structure. The redemption is a routine liability management event with no immediate read-through for common stock holders.
Price Chart
Executive Summary
PNC announced the redemption of all 525,000 outstanding Depositary Shares representing its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series S, for $1,000 per share ($525 million total), effective November 2, 2026. This is a routine capital management action that eliminates a preferred equity tranche, reducing the company's cost of capital over time but having no impact on common equity or earnings.
Key Facts
- PNC will redeem all 525,000 outstanding Depositary Shares (Series S Preferred Stock) on November 2, 2026.
- Redemption price is $1,000 per Depositary Share, totaling $525,000,000.
- The redemption eliminates a Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock series.
- No financial impact on common equity, revenue, or earnings is disclosed in the filing.
Financial Impact
$525 million redemption of preferred equity; no impact on common equity or earnings disclosed.
Risk Factors
- No material risks identified; this is a routine preferred stock redemption.
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-063770 |
| Document: seriessredemption-ex991.htm | 0001628280-26-063770 |
| Document: 0001628280-26-063770-index-headers.html | 0001628280-26-063770 |
| Document: 0001628280-26-063770-index.html | 0001628280-26-063770 |
| Document: 0001628280-26-063770.txt | 0001628280-26-063770 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | 8-K | $224.46 | awaiting T+1 | — | $227.24 (+1.24%) |
Oct 20, 2026 7d ago | 424B5 | $220.99 $222.89 | ▲ +0.86% | ▲ +0.33% | $227.24 (+2.83%) |
Oct 15, 2026 11d ago | 8-K | $217.39 $216.21 | ▼ −0.54% | ▼ −0.97% | $227.24 (+4.53%) |
Oct 15, 2026 12d ago | 8-K | $214.94 $217.39 | ▲ +1.14% | ▲ +2.25% | $227.24 (+5.72%) |
Oct 15, 2026 12d ago | Press Release | $214.94 $217.39 | ▲ +1.14% | ▲ +2.25% | $227.24 (+5.72%) |
Oct 2, 2026 25d ago | Press Release | $221.03 $220.28 | ▼ −0.34% | ▼ −1.01% | $227.24 (+2.81%) |
Sep 29, 2026 28d ago | 8-K | $221.65 $222.26 | ▲ +0.28% | ▲ +0.48% | $227.24 (+2.52%) |
Aug 7, 2026 11w ago | 13F-HR | $252.43 $251.51 | ▼ −0.36% | ▼ −0.34% | $227.24 (−9.98%) |
Jul 16, 2026 14w ago | 424B5 | $255.20 $252.86 | ▼ −0.92% | ▲ +0.07% | $227.24 (−10.96%) |
Jul 15, 2026 14w ago | 8-K | $254.15 $255.20 | ▲ +0.41% | ▲ +0.95% | $227.24 (−10.59%) |
US Market Status
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