PNC FINANCIAL SERVICES GROUP, INC.
For the period ended Jun 30, 2026. Filed Aug 5, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 5, 2026
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Parent Company Notes Issued
The following table details Parent Company note issuances during the second quarter of 2026.
Table 28: Parent Company Notes Issued
| Issuance Date | Amount | Description of Issuance |
|---|---|---|
| May 26, 2026 | $1.35 billion | $1.35 billion of 4.618% senior fixed-to-floating rate notes with a maturity date of October 26, 2029. Interest is payable semi-annually in arrears at a fixed rate of 4.618% per annum, on April 26 and October 26 of each year, commencing on October 26, 2026. Beginning on October 26, 2028, interest is payable quarterly in arrears at a floating rate per annum equal to Compounded SOFR (determined with respect to each quarterly interest period using the SOFR Index as described in the Preliminary Prospectus Supplement), plus 0.681%, on January 26, 2029, April 26, 2029, July 26, 2029 and at the maturity date. |
| May 26, 2026 | $300 million | $300 million of senior floating rate notes with a maturity date of October 26, 2029. Interest is payable quarterly in arrears at a floating rate per annum equal to Compounded SOFR (determined with respect to each quarterly interest period using the SOFR Index as described in the Preliminary Prospectus Supplement), plus 0.680%, on January 26, April 26, July 26, and October 26 of each year, which commenced on July 26, 2026. |
See Note 17 Subsequent Events for details on the following parent company activity:
issuance of $1.0 billion of 5.463% senior fixed-to-floating rate notes that mature on July 21, 2037;
issuance of $1.0 billion of 4.831% senior fixed-to-floating rate notes that mature on July 19, 2030; and
redemption of all outstanding 5.102% senior fixed-to-floating rate notes due July 23, 2027.
Parent company senior and subordinated debt carrying value totaled $37.6 billion and $33.7 billion at June 30, 2026 and December 31, 2025, respectively.
Contractual Obligations and Commitments
We enter into various contractual arrangements in the normal course of business, certain of which require future payments that could impact our liquidity and capital resources. See the Liquidity and Capital Management portion of the Risk Management section of our 2025 Form 10-K for more information on these future cash outflows. Additionally, in the normal course of business, we have various commitments outstanding, certain of which are not included on our Consolidated Balance Sheet. We provide information on our commitments in Note 9 Commitments.
Credit Ratings
PNC’s credit ratings affect the cost and availability of short and long-term funding, collateral requirements for certain derivative instruments and the ability to offer certain products.
In general, rating agencies base their ratings on many quantitative and qualitative factors, including capital adequacy, liquidity, asset quality, business mix, level and quality of earnings, and the current legislative and regulatory environment, including implied government support. A decrease, or potential decrease, in credit ratings could impact access to the capital markets and/or increase the cost of debt, and thereby adversely affect liquidity and financial condition. For additional information on the potential impacts from a downgrade to our credit ratings, see Item 1A Risk Factors in our 2025 Form 10-K.
32 The PNC Financial Services Group, Inc. –Form 10-Q
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.