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PNC lowers warrant exercise price

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PNC lowers warrant exercise price

Warrants to buy PNC Financial Services Group Inc. common stock will have an exercise price of $67.237 per share, effective as of the close of business Oct. 17.

The price was previously $67.282 per share.

The decrease was prompted by the declaration of a 75 cents-per-share dividend. The exercise price of warrants expiring Dec. 31, 2018, may be adjusted when the PNC board declares a dividend higher than 66 cents per share.