Filed Pursuant to Rule 433
Registration Nos. 333-139912
333-139912-01
September 16, 2009
PNC FUNDING CORP
$500,000,000 4.25% SENIOR NOTES DUE SEPTEMBER 21, 2015
Unconditionally Guaranteed by
The PNC Financial Services Group, Inc.
Summary of Terms for Issuance
| Issuer: |
PNC Funding Corp | |
| Guarantor: |
The PNC Financial Services Group, Inc. | |
| Security: |
4.25% Senior Notes due September 21, 2015 | |
| Ranking: |
Senior | |
| Expected Security Ratings:* |
A3 / A / A+ (Moody’s / S&P / Fitch) | |
| Principal Amount: |
US$ 500,000,000 | |
| Price to Investors: |
99.822% | |
| Minimum Denomination / Multiples: |
$2,000 / multiples of $1,000 in excess thereof. | |
| Trade Date: |
September 16, 2009 | |
| Settlement Date: |
September 21, 2009 (T+3) | |
| Maturity: |
September 21, 2015 | |
| Coupon: |
4.250% per annum | |
| Interest Payment Dates: |
Semi-annually in arrears on March 21 and September 21 of each year, commencing on March 21, 2010 to and including the Maturity date. | |
| Day Count: |
30/360 | |
| Reference Benchmark: |
2.375% UST due August 2014 | |
| Reference Benchmark Yield: |
2.434% | |
| Spread to Benchmark: |
+ 185 bps | |
| Re-offer Yield: |
4.284% | |
| CUSIP/ISIN: |
693476BG7 / US693476BG73 | |
| Joint Book-Running Managers: |
Goldman, Sachs & Co. J.P. Morgan Securities Inc. | |
| Co-Manager: |
PNC Capital Markets LLC | |
| Credit Rating Agency Review: |
Standard & Poor’s Ratings Services (“Standard & Poor’s”) currently rates the senior debt of PNC Bank, N.A. and National City Bank as “A+” and rates PNC’s senior debt as “A”. In June 2009, Standard & Poor’s completed a broad-ranging reassessment of industry risk for US financial institutions. As a result, Standard & Poor’s affirmed PNC’s ratings and changed our outlook to stable from creditwatch negative. | |
*Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
PNC Funding Corp and The PNC Financial Services Group, Inc. have filed a registration statement (including a prospectus and preliminary prospectus supplement) with the SEC for the offering to which this communication relates. Before you invest, you should read each of these documents and the other documents filed with the SEC and incorporated by reference in such documents for more complete information about PNC Funding Corp, The PNC Financial Services Group, Inc. and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, you may obtain a copy of these documents by calling Goldman, Sachs & Co. collect at 1-866-471-2526 or J.P. Morgan Securities Inc. collect at 1-212-834-4533.
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