New Issue: PNC prices $1.75 billion of three-, five-year senior bank notes

By Aleesia Forni

Virginia Beach, Oct. 29 – PNC Bank NA priced $1.75 billion of senior bank notes (A2/A/A+) in two parts on Thursday, a market source said.

Included in the sale was $1 billion of 1.8% three-year notes issued at Treasuries plus 78 basis points.

Also, $750 million of 2.45% five-year notes priced at Treasuries plus 95 bps.

Bookrunners were Citigroup Global Markets Inc., Jefferies & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and PNC Capital Markets LLC.

PNC is a Pittsburgh-based bank and holding company.

Issuer:	PNC Bank NA
Issue:	Senior bank notes
Amount:	$1.75 billion
Bookrunners:	Citigroup Global Markets Inc., Jefferies & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, PNC Capital Markets LLC
Trade date:	Oct. 29
Ratings:	Moody’s: A2
	Standard & Poor’s: A
	Fitch: A+
Three-year notes
Amount:	$1 billion
Maturity:	Nov. 5, 2018
Coupon:	1.8%
Spread:	Treasuries plus 78 bps
Five-year notes
Amount:	$750 million
Maturity:	Nov. 5, 2020
Coupon:	2.45%
Spread:	Treasuries plus 95 bps

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