PNC Announces Redemption Of Preferred Stock And Related APEX Securities

   PNC Announces Redemption Of Preferred Stock And Related APEX Securities

PR Newswire

PITTSBURGH, Nov. 9, 2012

PITTSBURGH, Nov. 9, 2012 /PRNewswire/ --The PNC Financial Services Group,
Inc. (NYSE: PNC) today announced that it has notified National City Preferred
Capital Trust I (the "Trust") that it will redeem all $500,100,000 aggregate
liquidation amount (5,001 shares) of PNC's Non-Cumulative Perpetual Preferred
Stock, Series M ("Preferred Stock"), at a redemption price equal to $100,000
per share, on Dec. 10, 2012, the date the Preferred Stock is issued to the
Trust pursuant to the settlement of a Stock Purchase Contract Agreement
between the Trust and PNC dated as of Jan. 30, 2008.

Additionally, the Trust has notified the holders of the Trust's 12%
Fixed-to-Floating Rate Normal APEX Securities (NYSE:PNC/PRD) (CUSIP 635421
AA8) (the "Normal APEX") that on Dec. 10, 2012 (the "APEX Redemption Date")
the Trust will redeem all of the $500,000,000 aggregate liquidation amount
outstanding of the Normal APEX of the Trust, at a redemption price equal to
$1,000 per Normal APEX, plus any accrued and unpaid distributions on the
Normal APEX to the APEX Redemption Date, with the proceeds from the redemption
by PNC of the Preferred Stock. The Normal APEX have a current distribution
rate of 12.0% and a maturity date of Dec. 10, 2043. The Trust will also redeem
all of the $100,000 aggregate liquidation amount of Common Securities issued
by the Trust and held by PNC.

The redemptions are consistent with a capital plan submitted to the Board of
Governors of the Federal Reserve.

The paying agent for the Normal APEX is Wilmington Trust Company, 1100 North
Market Street, Rodney Square North, Wilmington, DE 19890.

The PNC Financial Services Group, Inc. (www.pnc.com) is one of the nation's
largest diversified financial services organizations providing retail and
business banking; residential mortgage banking; specialized services for
corporations and government entities, including corporate banking, real estate
finance and asset-based lending; wealth management and asset management.

CONTACTS:

MEDIA:
Fred Solomon
(412) 762-4550
corporate.communications@pnc.com

INVESTORS:
William H. Callihan
(412) 762-8257
investor.relations@pnc.com

SOURCE PNC Financial Services Group, Inc.

Website: http://www.pnc.com