PNC Financial to Redeem $525 Million in Series S Preferred Stock

Key Facts

The PNC Financial Services Group announced the redemption of $525 million in depositary shares representing Series S Preferred Stock. PR Newswire reported that the company will redeem all outstanding depositary shares, each representing a 1/100th interest in a share of its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock.

The redemption is a routine corporate action intended to manage the company's capital structure and optimize its balance sheet. PNC closed at $223.67 on September 28, 2026, with the stock trading between a low of $223 and a high of $225.85 during that session.