Subsequent Events

6 Months Ended

Jun. 30, 2019

Subsequent Events [Abstract]

Subsequent Events

SUBSEQUENT EVENTS

On July 23, 2019, PNC Bank issued the following:

• $600 million of senior notes with a maturity date of July 22, 2022. Interest is payable semi-annually at a fixed rate of 2.232% per annum, on July 22 and January 22 of each year, beginning on January 22, 2020. Interest is payable quarterly at the floating rate equal to the 3-month LIBOR rate plus 44 basis points, on January 22, April 22, July 22, and October 22, beginning on October 22, 2021.

• $900 million of senior floating rate notes with a maturity date of July 22, 2022. Interest is payable quarterly at the 3-month LIBOR rate, reset quarterly, plus 45 basis points, on January 22, April 22, July 22 and October 22 of each year, beginning on October 22, 2019.

On July 23, 2019, the parent company issued $1.0 billion of senior notes with a maturity date of July 23, 2026. Interest is payable semi-annually at a fixed rate of 2.60% per annum, on July 23 and January 23 of each year, beginning on January 23, 2020.