PNC Financial Services Group 250 EuroWeek Financing financial institutions PNC Financial Services Group Subordinated debt Senior unsecured Securitisation - 5,000 10,000 15,000 20,000 25,000 30,000 2005 2006 2007 2008 2009 2010 Source: Dealogic. Data to August 20 2010 $m Debt issuance % Source: PNC 0 2 4 6 8 10 12 14 16 2Q09 1Q10 2Q10 Tier one risk-based (reported) Tier one common (reported) Total risk-based Debt issuance capital ratios pricing date: August 4, 2010 Value: $750m Maturity date: August 11, 2020 coupon: 4.375% spread to benchmark: 150bp over USTs bookrunners: Bank of America Merrill Lynch, JPMorgan pricing date: May 13, 2010 Value: $500m Maturity date: May 19, 2014 coupon: 3% spread to benchmark: 112.5bp over USTs bookrunners: JPMorgan, Morgan Stanley pricing date: February 3, 2010 Value: $1bn Maturity date: February 8, 2015 coupon: 3.625% spread to benchmark: 125bp over USTs bookrunners: Morgan Stanley, JPMorgan Source: Dealogic rank lead Manager amount $m no of issues % share 1 JPMorgan 1,621 4 50 2 Morgan Stanley 1,248 3 38.5 3 Bank of America Merrill Lynch 373 1 11.5 subtotal 3,243 4 100 total 3,243 4 100 Source: Dealogic (Sep 20, 2009 to Sep 19, 2010) recent Deals - 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021-2040 2041+ 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 Source: Dealogic. Data to September 1, 2010 (securitisations not included) $m Maturity profile top bookrunners executive vice-president, director of investor relations William H Callihan +1 412 762 8257 [email protected] key contacts pnc financial services Group inc long term iDr a+ short term iDr f1 individual rating b support rating 5 support rating floor no floor summary: Fitch Ratings recently affirmed PNC’s long-term issuer default rating and long-term senior debt rating at A+ in recognition of its improved franchise, good liquidity, and solid core pre-tax, pre-provision earnings power. The company’s profile was fundamentally altered with the December 31, 2008 acquisition of National City Corporation (NCC), doubling in size to become the fifth largest bank holding company in the US based on deposits. PNC has not reported any issues related to the integration to date. In the past, PNC has reported better credit quality, especially NCOs, than its regional and large bank peers. However, PNC is not immune to the difficult operating environment and has reported increasing levels of problem assets. NCC’s exposures across all risk categories were evaluated and marked to fair value by PNC through purchase accounting as of December 31, 2008. To date, PNC’s credit valuations on their impaired loans appear to be holding up fairly well. With the exception of 4Q08, when PNC reported an approximately $500m conforming provision related to the NCC acquisition, the company has been profitable every quarter over the past two years. PNC made considerable progress during 2009 in rebuilding capital ratios. fitch ratinGs upDate