Issuer:
|
PNC Funding Corp | |
Guarantor:
|
The PNC Financial Services Group, Inc. and the Federal Deposit Insurance Corporation (the FDIC). | |
Security:
|
Floating Rate Senior Notes due June 22, 2011. | |
Guarantee:
|
The Notes are guaranteed by The PNC Financial Services Group, Inc. The Notes are also guaranteed under the FDICs Temporary Liquidity Guarantee Program and are backed by the full faith and credit of the United States. The details of the FDIC guarantee are provided in the FDICs regulations, 12 CFR Part 370, and at the FDICs website, www.fdic.gov/tlgp. The expiration date of the FDICs guarantee is the earlier of the maturity date of the debt or June 30, 2012. |
|
Expected Security Ratings:
|
Aaa / AAA / AAA (Moodys / S&P / Fitch) | |
Trade Date:
|
December 17, 2008 | |
Settlement Date:
|
December 22, 2008 (T+3 days) | |
Maturity:
|
June 22, 2011 | |
Principal Amount:
|
US$ 400,000,000 | |
Price to Investors:
|
100.000% | |
Interest Rate Index:
|
Three-month USD-BBA-LIBOR; Reuters Screen LIBOR01 Page. | |
Re-offer Spread to Index:
|
+28 bps | |
Net Proceeds to the Issuer
(before expenses and FDIC fee):
|
US$ 399,400,000 | |
Interest Payment Dates:
|
Quarterly in arrears on March 22, June 22, September 22 and December 22 of each year, commencing on March 22, 2009 to and including the Maturity date. | |
Day Count:
|
Actual/360 | |
Interest Determination Date:
|
The second London Business Day preceding each Interest Reset Date. | |
Minimum Denomination / Multiples:
|
$2,000 / multiples of $1,000 in excess thereof. | |
Optional Redemption:
|
Upon the occurrence of certain tax events. | |
CUSIP/ISIN:
|
69351CAB9/US69351CAB90 | |
Joint Book-Running Managers:
|
Citigroup Global Markets Inc. | |
J.P. Morgan Securities Inc. | ||
Co-Manager:
|
PNC Capital Markets LLC |