New Issue: PNC Funding sells $250 million 5.5% five-year notes at Treasuries plus 125 bps

By Andrea Heisinger

Omaha, Sept. 25 - PNC Funding Corp. priced $250 million of 5.5% five-year senior notes Tuesday to yield Treasuries plus 125 basis points, market sources said.

The notes (A1/A/A) were priced at 99.97 to yield 5.507% and are non-callable.

Bookrunners were Banc of America Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Inc.

The company is a subsidiary of PNC Financial Services Group based in Pittsburgh.

Issuer:	PNC Funding Corp.
Issue:	Senior notes
Amount:	$250 million
Maturity:	Sept. 28, 2012
Bookrunners:	Banc of America Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Inc.
Coupon:	5.5%
Price:	99.97
Yield:	5.507%
Spread:	Treasuries plus 125 bps
Call:	Non-callable
Trade date:	Sept. 25
Settlement date:	Sept. 28
Ratings:	Moody's: A1
	Standard & Poor's: A
	Fitch: A

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