EX-4.3


 Exhibit 4.3 

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES OF THIS SERIES IN CERTIFICATED FORM, THIS SECURITY MAY NOT BE TRANSFERRED
EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (THE “DEPOSITARY”) TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY
THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

THIS SECURITY IS NOT A BANK DEPOSIT OR INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR BY ANY OTHER INSURER OR GOVERNMENTAL AGENCY.







 THE PNC FINANCIAL SERVICES GROUP, INC. 

3.90% SUBORDINATED NOTES DUE APRIL 29, 2024 
  

			
	REGISTERED	  	CUSIP: 693475AP0 
	No.	  	ISIN: US693475AP09
		  	$            

 THE PNC FINANCIAL SERVICES GROUP, INC., a corporation duly organized and existing under the laws of
Pennsylvania (herein called the “Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & Co., or registered assigns, the principal
sum of              on April 29, 2024, and to pay interest thereon from and including April 28, 2014, or from the most recent Interest Payment Date (as defined below) to which
interest has been paid or duly provided for, semiannually in arrears on April 29 and October 29 of each year, commencing October 29, 2014 (each an “Interest Payment Date”), at the rate of 3.90% per annum, until the
principal hereof is paid or made available for payment, and (to the extent that the payment of such interest shall be legally enforceable) at the same rate per annum on any overdue principal and premium and on any overdue installment of interest.
Interest shall accrue from, and including, April 28, 2014 to, but excluding, the first Interest Payment Date and then from, and including, the immediately preceding Interest Payment Date to which interest has been paid or duly provided for, to,
but excluding, the next Interest Payment Date or the redemption or maturity date, as the case may be. Each of these periods is referred to as an “interest period.” Interest will be computed on the basis of a 360-day year consisting of
twelve 30-day months. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date, subject to certain exceptions, will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or
more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the April 15 or October 15 (whether or not a Business Day), as the case may be, immediately preceding such
Interest Payment Date. However, interest payable on the maturity or redemption date will be paid to the person to whom the principal will be payable. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to
the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted
Interest to be fixed by the Trustee, notice whereof shall be given to Holders of the Securities not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner acceptable to the Trustee and not inconsistent
with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 

If an Interest Payment Date or the redemption or maturity date for the Notes falls on a day that is not a Business Day, the Company will
postpone the interest payment or the payment of principal and interest at redemption or maturity to the next succeeding Business Day, but the payments made on such dates will be treated as being made on the date that the payment was first due and
the Holder will not be entitled to any further interest or other payments with respect to such postponements. 
 The term “Business
Day” means each Monday, Tuesday, Wednesday, Thursday and Friday in the City of New York or the City of Pittsburgh which is not a day on which banking institutions or trust companies are authorized or obligated by law or executive order to
close. 






 This Security is one of a duly authorized issue of securities of the Company (herein called the
“Securities” or the “Notes”), issued and to be issued in one or more series under an Indenture, dated as of December 19, 2012, as supplemented by a First Supplemental Indenture, dated as of April 28, 2014 (as so
supplemented, herein called the “Indenture”) between the Company and The Bank of New York Mellon, as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which the Indenture and
all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which
the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated above, initially issued in the aggregate principal amount of $750,000,000, and is subject to additional issuances as the Company may
determine or as provided for in the Indenture. 
 This Security is redeemable in whole or in part by the Company on or after the 30th day
prior to April 29, 2024 at a redemption price equal to 100% of the principal amount of the Securities, plus accrued and unpaid interest thereon to but excluding the date of redemption. The Company will provide 10 to 60 calendar days notice of
the redemption to the registered holders of this Security. Any early redemption of this Security will be subject to the receipt of the approval of the Board of Governors of the Federal Reserve, to the extent then required under applicable laws or
regulations, including capital regulations. 
 This Security is not subject to any sinking fund. This Security is not convertible into, or
exchangeable for, equity securities of the Company. If an Event of Default (as defined in the Indenture) with respect to the Securities shall occur and be continuing, the principal of the Securities may be declared due and payable in the manner and
with the effect provided in the Indenture. 
 The holders of this Security have no right to accelerate the maturity of this Security in the
event the Company fails to pay interest on any Security, fails to perform any other obligation under any Security or in the Indenture or defaults on any other securities issued by the Company. 

Unless the certificate of authentication hereon has been executed by the Trustee hereinafter referred to, by manual or facsimile signature,
this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
 The indebtedness of the
Company evidenced by the Securities of this series, including the principal thereof and interest thereon, is, to the extent and in the manner set forth in the Indenture, subordinate and junior in right of payment to its obligations to holders of
Senior Company Indebtedness (as defined in the Indenture) and subject to the obligations of the holders of the Securities to pay over any Excess Proceeds (as defined in the Indenture) to holders of Other Company Obligations (as defined in the
Indenture), as provided in the Indenture, and shall rank pari passu in right of payment with each other and with all other unsecured subordinated indebtedness of the Company issued under the Indenture. Each Holder of this Security, by the acceptance
hereof, agrees to and shall be bound by such provisions of the Indenture and authorizes and directs the Trustee on his behalf to take such actions as may be necessary or appropriate to effectuate the subordination so provided. 

The Securities may be fully subordinated to interests held by the U.S. government in the event of a receivership, insolvency, liquidation, or
similar proceeding by the Company. 
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the
modification of the rights and obligations of the Company and the rights of the Holders of the Securities of any series under the Indenture at any time by the 






 
Company and the Trustee with the consent of the Holders of a majority in principal amount of the outstanding Securities of all series (voting as one class) to be affected by such amendment or
modification. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Outstanding Securities of any series, on behalf of the Holders of all Securities of such series, to waive compliance by
the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future
Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 

No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal of and interest (if any) on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 

The Securities are issuable only in registered form without coupons in denominations of $2,000 and any integral multiples of $1,000 thereof.
This Security is a global security, represented by one or more permanent global certificates registered in the name of the nominee of The Depository Trust Company (each a “Global Note” and collectively, the “Global Notes”).
Accordingly, unless and until it is exchanged in whole or in part for individual certificates evidencing the Securities represented hereby, this Security may not be transferred except as a whole by The Depositary Trust Company (the
“Depositary”) to a nominee of such Depositary or by a nominee of such Depositary or by the Depositary or any nominee to a successor Depositary or any nominee of such successor. Ownership of beneficial interests in this Security will be
shown on, and the transfer of that ownership will be effected only through, records maintained by the applicable Depositary or its nominee (with respect to interest of persons that have accounts with the Depositary (“Participants”) and the
records of Participants (with respect to interests of persons other than Participants)). Beneficial interests in Securities by persons that hold through Participants will be evidenced only by, and transfers of such beneficial interests with such
Participants will be effected only through, records maintained by such Participants. Except as provided below, owners of beneficial interests in this Security will not be entitled to have any individual certificates and will not be considered the
owners or Holders thereof under the Indenture. 
 Except in the limited circumstances set forth herein, Participants and owners of
beneficial interests in the Global Notes will not be entitled to receive Securities in definitive form and will not be considered Holders of Securities. If the Depositary is at any time unwilling, unable or ineligible to continue as Depositary and a
successor Depositary is not appointed by the Company within 90 days, or an Event of Default has occurred and is continuing, and the Depositary requests the issuance of certificated notes, the Company will issue individual certificates evidencing the
Securities represented hereby in definitive form in exchange for this Security in registered form to each person that the Depositary identifies as the beneficial owner of the Securities represented by the Global Notes upon surrender by the
Depositary of the Global Notes. In addition, the Company may at any time and in its sole discretion determine not to have any Securities represented by one or more global securities and, in such event, will issue individual certificates evidencing
Securities in definitive form in exchange for this Security. In any such instance, an owner of a beneficial interest in a Security will be entitled to physical delivery in certificated form of Securities equal in principal amount to such beneficial
interest and to have such Securities registered in its name. Securities so issued in certificated form will be issued in denominations of $2,000 and any integral multiples of $1,000 thereof and will be issued in registered form only, without
coupons. Neither the Company nor the principal paying agent will be liable for any delay by the Depositary, its nominee or any direct or indirect participant in identifying the beneficial owners of the related Securities. The Company and the







 
principal payment agent may conclusively rely on, and will be protected in relying on, instructions from the Depositary or its nominee for all purposes, including with respect to the registration
and delivery, and the respective principal amounts, of the Securities to be issued. 
 Except as provided herein, beneficial owners of
Global Notes will not be entitled to receive physical delivery of Securities in definitive form and no Global Note will be exchangeable except for another Global Note of like denomination and tenor to be registered in the name of the Depositary or
its nominee. Accordingly, each person owning a beneficial interest in a Global Note must rely on the procedures of the Depositary and, if such person is not a Participant, on the procedures of the Participant through which such person owns its
interest, to exercise any rights of a Holder under the Securities. 
 Beneficial interests in the Global Notes will be represented through book-entry accounts of financial institutions acting on behalf of beneficial owners as direct and indirect participants in the Depositary. Investors may elect to hold interests in the Global Notes through the
Depositary, either directly if they are Participants of such system or indirectly through organizations that are Participants in such system. 

The laws of some jurisdictions may require that purchasers of securities take physical delivery of those securities in definitive form.
Accordingly, the ability to transfer interests in the Securities represented by a Global Note to those persons may be limited. In addition, because the Depositary can act only on behalf of its Participants, who in turn act on behalf of persons who
hold interests through Participants, the ability of a person having an interest in Securities represented by a Global Note to pledge or transfer such interest to persons or entities that do not participate in the Depositary’s system, or
otherwise to take actions in respect of such interest, may be affected by the lack of a physical definitive security in respect of such interest. 

Neither the Company, the Trustee, the principal paying agent nor any Security Registrar will have any responsibility or liability for any
aspect of the records relating to or payments made on account of Securities by the Depositary, or for maintaining, supervising or reviewing any records of the Depositary relating to the Securities. 

The Bank of New York Mellon will act as the Company’s principal paying agent with respect to the Securities through its offices presently
located at 525 William Penn Place, 38th Floor, Pittsburgh, PA 15259. The Company may at any time rescind the designation of a paying agent, appoint a successor paying agent, or approve a change in
the office through which any paying agent acts. Payments of interest and principal may be made by wire-transfer in immediately available funds for Securities held in
book-entry form or, at the Company’s option in the event the Securities are not represented by Global Notes, by check mailed to the address of the person entitled to the payment as it appears in the
Security register. Payment of principal will be made upon the surrender of the relevant Securities at the offices of the principal paying agent. 

Notices to the Holders of registered Securities will be mailed to them at their respective addresses in the register of the Securities and
will be deemed to have been given on the fourth weekday (being a day other than Saturday or Sunday) after the date of mailing. The Indenture contains provisions setting forth certain conditions to the institution of proceedings by the Holders of
Securities with respect to the Indenture or for any remedy under the Indenture. 
 All terms used in this Security which are defined in the
Indenture shall have the meanings assigned to them in the Indenture. 






 IN WITNESS WHEREOF, THE PNC FINANCIAL SERVICES GROUP, INC. has caused this Note to be signed in
its name by its Vice President and by its Corporate Secretary, or by facsimiles of any of their signatures, and its corporate seal, or a facsimile thereof, to be hereto affixed. 

Dated: 
  

			
	THE PNC FINANCIAL SERVICES GROUP, INC.
		
	By	 	  

		 	Name:
		 	Title:


  

	
	Attest:
	
	  

	Name:
	Title:







 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein referred to in the within-mentioned
Indenture. 
 Dated: 
  

			
	 THE BANK OF NEW YORK MELLON
 as
Trustee

		
	By	 	  

		 	Authorized officer