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PNC Financial offering $500M in senior debt

PNC Financial Services Group Inc. is offering $500 million aggregate principal amount of 3.250% senior notes due Sept. 3, 2021.

Interest on the notes will be payable semiannually in arrears on March 3 and Sept. 3 of each year, beginning March 3, 2019. The notes will be issued in minimum denominations of $2,000 and multiples of $1,000 in excess thereof.

The Pittsburgh-based company will receive approximately $498.9 million in net proceeds, which will be used for general corporate purposes.

Morgan Stanley & Co. LLC is serving as book-running manager, and PNC Capital Markets LLC is serving as co-manager.