Green Bond Fact SheetPNC Financial Services Group

Date: 14/11/2019

Issue date: 01-11-2019 Maturity date: 01-11-2024 Tenor: 5Issuer NamePNC Financial Services
GroupAmount Issued

USD650m

Country of risk

USA

CBI Database

Included

Issuer Type1

Financial Corporate

Bond TypeSr Unsecured

Green Bond Framework

Link to Framework

Second party opinion

Sustainalytics

Certification Standard

Not certified

Assurance report

Certification Verifier

N/AGreen bond rating

N/A☒ Energy☒ Solar☒ Onshore wind
☐ Offshore wind
☐ Geothermal☐ Hydro☐ Tidal☐ Biofuels☐ Bioenergy☐ District heating☐ Electricity grid

☐ Energy storage☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☒ Buildings☒ Certified Buildings☐ HVAC systems☒ Energy performance☐ Water performance☐ Energy storage/meters☐ Other energy related☐ Industry: components☐ Adaptation & resilience☐ Transport☐ Electric vehicles☐ Low emission vehicles☐ Bus rapid transit☐ Passenger trains☐ Urban rail

☐ Freight rolling stock☐ Coach / public bus☐ Bicycle infrastructure☐ Energy performance☐ Transport logistics☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Water & wastewater☐ Water distribution☐ Water treatment☐ Wastewater treatment☐ Water storage☐ Storm water mgmt
☐ Flood protection☐ Desalinisation plants☐ Erosion control☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ Waste to energy☐ Industry: components☐ Adaptation & resilience

Use of Proceeds☐ Land use &agriculture☐ Afforestation/parks☐ FSC Forestry☐ FSC Cellulose & paper☐ Land remediation☐ Energy/water efficiency☐ Sustainable agriculture☐ Adaptation & resilience☐ Other☐ Adaptation & resilience☐ ICT☐ Industry: process

Issue details
ReportingIssuer information

Descriptions of the projects and information on the expected environmental benefits will beavailable on the website in the Green Bond section. This will include annually disclosed
information with the description of projects, environmental impacts and funded projects (suchas KPIs, installed capacity, emissions metrics) as well as amount allocated by use of proceeds
category and unallocated balances.
PNC Financial Services Group is a financial services provider offering regional banking,wholesale banking and asset management services. It operates in the US, Canada, China,Germany and the UK and employs around 50 000 people. PNC Services Group is headquarteredin Pittsburgh, Pennsylvania.

Firsts, records andcertifications
Proceeds description

The proceeds of the bonds will go into one of the following categories:-Renewable Energy: construction or new solar and wind energy facilities andmaintenance of these
Energy Efficiency: lightning improvements in PNC’s real estate (resulting in 25%
improvement)
Green Buildings: LEED Platinum and Gold Certified Buildings

Climate Bonds view

PNC is one of the largest financial service providers by assets in the United States and the thirdamongst the top 10 to issue a green bond. It is a great sign that more and more large financials
are deciding to issue green bonds for a variety of different projects. PNC Financial Services willbe the first one to dedicate a share of the proceeds to waste projects.

Underwriters

JP Morgan, PNC

Deal comments
Credit Rating

A3 (Moody’s)A- (S&P)
A+ (Fitch)

Pricing summary•••

Coupon: 2.200%
Issue price: 99.967%
Issue yield: 2.207%

Investors summary

1Issuer categories: ABS, development bank, financial corporate, government-backed entity, loan, local government, non-financial
corporate, sovereign