Document:

PNC Subordinated Floating Rate Note

  
 Exhibit 4.12 
  
 THIS SUBORDINATED NOTE IS AN OBLIGATION SOLELY OF PNC BANK, NATIONAL ASSOCIATION (THE
“BANK”) AND WILL NOT BE AN OBLIGATION OF, OR OTHERWISE GUARANTEED BY, ANY OTHER BANK OR THE PNC FINANCIAL SERVICES GROUP, INC. OR ANY AFFILIATE THEREOF OTHER THAN THE BANK. THIS SUBORDINATED NOTE IS NOT A DEPOSIT AND IS NOT INSURED BY THE
FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY. THIS SUBORDINATED NOTE IS SUBORDINATED TO THE CLAIMS OF DEPOSITORS AND GENERAL CREDITORS OF THE BANK, IS UNSECURED, AND IS INELIGIBLE AS COLLATERAL FOR A LOAN BY THE BANK.

  
 UNLESS THIS SUBORDINATED NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (THE “DEPOSITORY”) TO THE BANK OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SUBORDINATED NOTE ISSUED UPON REGISTRATION OF TRANSFER OF, OR IN
EXCHANGE FOR, OR IN LIEU OF, THIS SUBORDINATED NOTE IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY AND ANY PAYMENT HEREON 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 GLOBAL SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY THE DEPOSITORY OR ANY SUCH NOMINEE TO A SUCCESSOR
DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITORY. 
  
 THIS SUBORDINATED NOTE
IS ISSUABLE ONLY IN FULLY REGISTERED FORM IN MINIMUM DENOMINATIONS OF $250,000 AND INTEGRAL MULTIPLES OF $1,000 IN EXCESS THEREOF. EACH OWNER OF A BENEFICIAL INTEREST IN THIS SUBORDINATED NOTE MUST BE AN INSTITUTIONAL INVESTOR WHO IS AN
“ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501 UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND IS REQUIRED TO HOLD A BENEFICIAL INTEREST IN A $250,000 PRINCIPAL AMOUNT OR ANY INTEGRAL MULTIPLE OF $1,000 IN EXCESS THEREOF OF THIS
SUBORDINATED NOTE AT ALL TIMES. 
  

  
 No.
FLR-             REGISTERED 
  
 CUSIP NO.:              
  
 GLOBAL SUBORDINATED BANK NOTE 
 (Floating
Rate) 
  

			
	 ORIGINAL ISSUE DATE:
	  	 PRINCIPAL AMOUNT:

		
	 INITIAL INTEREST RATE: _____%
	  	 MATURITY DATE 1:

		
	 INTEREST RATE
	  	 INDEX MATURITY:

	 BASIS OR BASES:
	  	 
		
	 IF LIBOR:
	  	 REGULAR RECORD

	 [    ]    LIBOR Moneyline Telerate
	  	DATES (if other than the fifteenth calendar day
	     Page:
	  	(whether or not a Business Day) next preceding the
	 [    ]    LIBOR Reuters
	  	applicable Interest Payment Date):
	     Page:
	  	 
	 Designated LIBOR Currency:
	  	 
		
	 IF CMT RATE:
	  	 
	 Designated CMT Moneyline Telerate Page:
	  	 
	 If Moneyline Telerate Page 7052:
	  	 
	 [    ]    Weekly Average
	  	 
	 [    ]    Monthly Average
	  	 
	 Designated CMT Maturity Index:
	  	 
		
	 INDEX CURRENCY:
	  	 
	 	  	SPREAD (PLUS OR MINUS) AND/OR SPREAD MULTIPLIER:
		
	 MAXIMUM INTEREST RATE:
	  	MINIMUM INTEREST RATE:
		
	 INTEREST PAYMENT DATES:
	  	INTEREST PAYMENT PERIOD:
		
	 INITIAL INTEREST PAYMENT DATE:
	  	 
		
	 INITIAL INTEREST RESET DATE:
	  	INTEREST RESET PERIOD:
		
	 INTEREST RESET DATES:
	  	CALCULATION AGENT (if other than PNC Bank, National Association):
		
	 INITIAL REDEMPTION DATE:
	  	ANNUAL REDEMPTION PERCENTAGE REDUCTION:
		
	 	  	HOLDER’S OPTIONAL REPAYMENT DATES: 2

	1	The Maturity Date will be five years or more from the Original Issue Date.

  

	2	No repayment will be made without the prior written approval of the Office of the Comptroller
of the Currency (the “OCC”) if such approval is then required under applicable, regulations or regulatory guidelines (including, 

  
 (continued...) 
  

 2 

  

			
	 INITIAL REDEMPTION
 PERCENTAGE:
	  	 DAY COUNT CONVENTION

	 	  	 [    ]  30/360 for the period from and including
                     to but excluding
                    .

	 	  
	 	  	 [    ]  Actual/360 for the period from and including
                     to but
excluding                     .

	 	  
	 	  	 [    ]  Actual/Actual for the period from and including
                     to but excluding
                    .

	 	  
	 	  
		
	 INTEREST CALCULATION:
	  	 
	 [    ]  Regular Floating Rate
	  	 
	 Subordinated Note
	  	 
	 [    ]  Floating Rate/Fixed Rate
	  	 
	 Subordinated Note
	  	 
	 Fixed Rate Commencement Date:
	  	 
	 Fixed Interest Rate:
	  	 
	 [    ]  Inverse Floating Rate
	  	 
	 Subordinated Note
	  	 
	 Fixed Interest Rate:
	  	 
		
	 ADDENDUM ATTACHED:
	  	ORIGINAL ISSUE DISCOUNT
	 [    ]  Yes
	  	 [    ]  Yes

	 [    ]  No
	  	 [    ]  No

		
	 	  	Total Amount of OID:
	 	  	Yield to Maturity:
	 	  	Initial Accrual Period:
		
	 OTHER PROVISIONS:
	  	DEFAULT RATE: ______%

	(...continued)	

	without	limitation, the applicable capital regulations and guidelines of the OCC.) 

  

 3 

 PNC Bank, National Association (the “Bank”), for value received, hereby promises to pay to CEDE
& CO., or registered assigns, the principal sum of                              United States
Dollars on the Maturity Date specified above (except to the extent redeemed or repaid prior to the Maturity Date) and to pay interest in arrears thereon from and including the Original Issue Date specified above or from and including the most recent
interest payment date to which interest on this Subordinated Note (or any predecessor Subordinated Note) has been paid or duly provided for on the Interest Payment Dates specified above (each, an “Interest Payment Date”), and at maturity
or upon earlier redemption or repayment, if applicable, commencing on the Initial Interest Payment Date specified above, at a rate per annum equal to the Initial Interest Rate specified above until the Initial Interest Reset Date specified above and
thereafter at a rate per annum determined in accordance with the provisions hereof and any Addendum relating hereto depending upon the Interest Rate Basis or Bases, if any, and such other terms specified above, 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 Default Rate per annum specified above on any overdue principal and premium, if any, and on any overdue installment of interest. If
no Default Rate is specified above, the Default Rate shall be the Interest Rate on this Subordinated Note specified above. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will be paid to the person in
whose name this Subordinated Note (or any predecessor Subordinated Note) is registered at the close of business on the Regular Record Date, which unless otherwise specified above shall be the fifteenth calendar day (whether or not a Business Day (as
defined hereinafter)) next preceding the applicable Interest Payment Date (a “Regular Record Date”); provided, however, that interest payable at maturity or upon earlier redemption or repayment, if applicable, will be payable
to the person to whom principal shall be payable. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the holder as of the close of business on such Regular Record Date and may either be paid to the
person in whose name this Subordinated Note (or any predecessor Subordinated Note) is registered at the close of business on a special record date for the payment of such defaulted interest (the “Special Record Date”) to be fixed by the
Bank, notice of which shall be given to the holders of Subordinated Notes not less than 10 calendar days prior to such Special Record Date, or be paid at any time in any other lawful manner. 
  
 Payment of principal of, premium, if any, and interest on, this Subordinated
Note will be made in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. The Bank will at all times appoint and maintain an issuing and paying agent (which may be
the Bank) (the “Issuing and Paying Agent”, which term shall include any successor Issuing and Paying Agent), authorized by the Bank to pay principal of, premium, if any, and interest on, this Subordinated Note on behalf of the Bank
pursuant to an issuing and paying agency agreement (the “Issuing and Paying Agency Agreement”) and having an office or agency (the “Issuing and Paying Agent Office”) in The City of New York or the city in which the Bank is
headquartered (the “Place of Payment”), where this Subordinated Note may be presented or surrendered for payment and where notices, designations or requests in respect of payments with respect to this Subordinated Note may be served. The
Bank has initially appointed PNC Bank, National Association as the Issuing and Paying Agent, with the Issuing and Paying Agent Office currently located at One PNC Plaza, 9th Floor, 249 Fifth Avenue, Pittsburgh, Pennsylvania 15222, Attention: Yvonne Mudd. The Bank 

  

 4 

 
may resign as or remove the Issuing and Paying Agent pursuant to the terms of the Issuing and Paying Agency Agreement, and appoint a successor Issuing and
Paying Agent. 
  
 Payment of principal of, premium, if any, and
interest on, this Subordinated Note due at maturity or upon earlier redemption or repayment, if applicable, will be made in immediately available funds upon presentation and surrender of this Subordinated Note to the Issuing and Paying Agent at the
Issuing and Paying Agent Office; provided that this Subordinated Note is presented to the Issuing and Paying Agent in time for the Issuing and Paying Agent to make such payment in accordance with its normal procedures. Payments of interest on this
Subordinated Note (other than at maturity or upon earlier redemption or repayment) will be made by wire transfer to such account as has been appropriately designated to the Issuing and Paying Agent by the person entitled to such payments.

  
 Reference herein to “this Subordinated Note”,
“hereof”, “herein” and comparable terms shall include an Addendum hereto if an Addendum is specified above. 
  
 Reference is hereby made to the further provisions of this Subordinated Note set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place. 
  

 5 

 IN WITNESS WHEREOF, the Bank has caused this Subordinated Note to be duly executed. 
  

			
	 PNC BANK, NATIONAL ASSOCIATION

		
	By:	 	 
	 	 	Authorized Signatory

  
 Dated: 
  
 ISSUING AND PAYING AGENT’S CERTIFICATE OF AUTHENTICATION 
  
 This is one of the Subordinated Notes referred to in the Issuing and Paying Agency Agreement.

  

			
	 PNC BANK, NATIONAL ASSOCIATION as the Issuing and Paying Agent

		
	 By:
	 	 
	 	 	Authorized Signatory

  

 6 

  
 [Reverse] 
  
 This Subordinated Note is one of a duly authorized issue of Subordinated Bank
Notes of the Bank due five years or more from date of issue (the “Subordinated Notes”). 
  
 If any Interest Payment Date (other than an Interest Payment Date at the Maturity Date or date of earlier redemption or repayment of this Subordinated
Note) would otherwise fall on a day that is not a Business Day, such Interest Payment Date shall be postponed to the next succeeding day that is a Business Day, except that if an Interest Rate Basis is LIBOR, as specified on the face hereof, and
such next Business Day falls in the next succeeding calendar month, such Interest Payment Date shall be the immediately preceding day that is a Business Day. Except as provided above, interest payments will be made on the Interest Payment Dates
shown on the face hereof. If the Maturity Date or date of earlier redemption or repayment of this Subordinated Note falls on a day which is not a Business Day, the related payment of principal of, premium, if any, and interest on, this Subordinated
Note will be made on the next succeeding Business Day with the same force and effect as if made on the date such payment was due, and no interest shall accrue on the amount so payable for the period from and after such Maturity Date or date of
earlier redemption or repayment, as the case may be. 
  
 The
indebtedness of the Bank evidenced by this Subordinated Note, including principal, premium, if any, and interest, is unsecured and subordinate and junior in right of payment to the Bank’s obligations to its depositors, its obligations under
bankers’ acceptances, letters of credit and Senior Bank Notes of the Bank, and its obligations to its other creditors (including its obligations to the Federal Reserve Bank, the Federal Deposit Insurance Corporation and any rights acquired by
the Federal Deposit Insurance Corporation as a result of loans made by the Federal Deposit Insurance Corporation to the Bank or the purchase or guarantee of any of its assets by the Federal Deposit Insurance Corporation, pursuant to the provisions
of 12 U.S.C. Section 1823(c), (d) or (e)), whether such obligations are outstanding at this date or are hereafter incurred, other than any obligations which by their express terms rank on a parity with, or junior to, the Subordinated Notes. In case
of any insolvency, receivership, conservatorship, reorganization, readjustment of debt, marshalling of assets and liabilities or similar proceedings or any liquidation or winding-up of or relating to the Bank, whether voluntary or involuntary, all
such obligations (except obligations which rank on a parity with, or junior to, the Subordinated Notes) shall be entitled to be paid in full before any payment shall be made on account of the principal of, premium, if any, or interest on this
Subordinated Note. In the event of any such proceeding, after payment in full of all sums owing with respect to such prior obligations, the holder of this Subordinated Note, together with any obligations of the Bank ranking on a parity with this
Subordinated Note, shall be entitled to be paid from the remaining assets of the Bank the unpaid principal, premium, if any, and interest on this Subordinated Note and such other obligations, as applicable, before any payment or other distribution,
whether in cash, property or otherwise, shall be made on account of any capital stock or any obligations of the Bank ranking junior to this Subordinated Note. 
  

No provision of this Subordinated Note shall alter or impair the obligation of the Bank, which is absolute and unconditional, to pay principal of,
premium, if any, and interest on, this 

  

 7 

 
Subordinated Note in U.S. dollars at the times, places and rate herein prescribed in accordance with its terms. 
  
 This Subordinated Note will not be subject to any sinking fund. If so
provided on the face of this Subordinated Note and subject to the prior approval, if then required, of the Office of the Comptroller of the Currency (the “OCC”), this Subordinated Note may be redeemed by the Bank either in whole or in part
on and after the Initial Redemption Date, if any, specified on the face hereof. 
  
 If no Initial Redemption Date is specified on the face hereof, this Subordinated Note may not be redeemed prior to the Maturity Date. On and after the Initial Redemption Date, if any, and subject to the prior
approval, if then required, of the OCC, this Subordinated Note may be redeemed in increments of $1,000 (provided that any remaining principal amount hereof shall be at least $250,000) at the option of the Bank at the applicable Redemption Price (as
defined hereinafter), together with unpaid interest accrued hereon at the applicable rate borne by this Subordinated Note to the date of redemption (each such date, a “Redemption Date”), on written notice given not more than 60 nor less
than 30 calendar days prior to the Redemption Date to the registered holder hereof. Whenever less than all the Subordinated Notes at any time outstanding are to be redeemed, the terms of the Subordinated Notes to be so redeemed shall be selected by
the Bank. If less than all the Subordinated Notes with identical terms at any time outstanding are to be redeemed, the Subordinated Notes to be so redeemed shall be selected by the Issuing and Paying Agent by lot or in any usual manner approved by
it. In the event of redemption of this Subordinated Note in part only, a new Subordinated Note for the unredeemed portion hereof shall be issued in the name of the holder hereof upon the surrender hereof. The Issuing and Paying Agent is not required
to register the transfer of or exchange any Subordinated Note that has been called for redemption in whole or in part, except the unredeemed portion of the Subordinated Notes being redeemed in part, during a period beginning at the opening of
business 15 calendar days before the day of mailing of a notice of such redemption and ending at the close of business on the day of such mailing. 
  
 The “Redemption Price” shall initially be the Initial Redemption Percentage specified on the face hereof of the principal amount of this
Subordinated Note to be redeemed and shall decline at each anniversary of the Initial Redemption Date specified on the face hereof by the Annual Redemption Percentage Reduction, if any, specified on the face hereof, of the principal amount to be
redeemed until the Redemption Price is 100% of such principal amount. 
  
 If so provided for on the face of this Subordinated Note, this Subordinated Note may be redeemed by the holder hereof either in whole or in part on any Holder’s Optional Repayment Date(s), if any, specified on the face hereof. If no
Holder’s Optional Repayment Date is specified on the face hereof, this Subordinated Note will not be repayable at the option of the holder hereof prior to the Maturity Date. On any Holder’s Optional Repayment Date, if any, this
Subordinated Note will be repayable in whole or in part in increments of $1,000 (provided that any remaining principal amount hereof shall be at least $250,000) at the option of the holder hereof at a repayment price equal to 100% of the principal
amount to be repaid, together with accrued and unpaid interest hereon payable at the applicable rate borne by this Subordinated Note to the date of repayment. For this Subordinated Note to be repaid in whole or in part at the option of the holder
hereof on a Holder’s Optional Repayment Date, this Subordinated Note 

  

 8 

 
must be delivered, with the form entitled “Option to Elect Repayment” attached hereto duly completed, to the Issuing and Paying Agent at its
offices currently located at One PNC Plaza, 9th Floor, 249 Fifth Avenue, Pittsburgh, Pennsylvania 15222, Attention:
Yvonne Mudd, or at any such other address which the Bank shall from time to time notify the holders of the Subordinated Notes, not more than 60 nor less than 30 calendar days prior to such Holder’s Optional Repayment Date. In the event of
repayment of this Subordinated Note in part only, a new Subordinated Note for the unrepaid portion hereof shall be issued in the name of the holder hereof upon the surrender hereof. Exercise of such repayment option by the holder hereof shall be
irrevocable. Unless otherwise specified on the face of this Subordinated Note, this Subordinated Note may not be repaid at the option of the holder hereof prior to the Maturity Date without the prior approval, if then required, of the OCC.

  
 The interest rate borne by this Subordinated Note shall be
determined as follows: 
  
 1. If this
Subordinated Note is designated as a Regular Floating Rate Subordinated Note on the face hereof or if no designation is made for Interest Calculation on the face hereof, then, except as described below or in an Addendum hereto, this Subordinated
Note shall bear interest at the rate determined by reference to the applicable Interest Rate Basis or Bases shown on the face hereof (i) plus or minus the applicable Spread, if any, and/or (ii) multiplied by the applicable Spread Multiplier, if any,
specified and applied in the manner described on the face hereof. Commencing on the Initial Interest Reset Date, the rate at which interest on this Subordinated Note is payable shall be reset as of each Interest Reset Date specified on the face
hereof; provided, however, that the interest rate in effect for the period from the Original Issue Date to but excluding the Initial Interest Reset Date will be the Initial Interest Rate. 
  
 2. If this Subordinated Note is designated as a Floating
Rate/Fixed Rate Subordinated Note on the face hereof, then, except as described below or in an Addendum hereto, this Subordinated Note shall bear interest at the rate determined by reference to the applicable Interest Rate Basis or Bases shown on
the face hereof (i) plus or minus the applicable Spread, if any, and/or (ii) multiplied by the applicable Spread Multiplier, if any, specified and applied in the manner described on the face hereof. Commencing on the Initial Interest Reset Date, the
rate at which interest on this Subordinated Note is payable shall be reset as of each Interest Reset Date specified on the face hereof; provided, however, that (i) the interest rate in effect for the period from the Original Issue Date
to but excluding the Initial Interest Reset Date will be the Initial Interest Rate; and (ii) the interest rate in effect commencing on, and including, the Fixed Rate Commencement Date to but excluding the Stated Maturity Date or date of earlier
redemption or repayment shall be the Fixed Interest Rate, if such a rate is specified on the face hereof, or if no such Fixed Interest Rate is so specified, the interest rate in effect hereon on the Business Day immediately preceding the Fixed Rate
Commencement Date. 
  
 3. If this Subordinated
Note is designated as an Inverse Floating Rate Subordinated Note on the face hereof, then, except as described below or in an Addendum hereto, this Subordinated Note shall bear interest equal to the Fixed Interest Rate specified on the face hereof
minus the rate determined by reference to the applicable Interest Rate Basis or Bases shown on the face hereof (i) plus or minus the applicable Spread, if any, and/or (ii) multiplied by the applicable Spread Multiplier, if any, specified 

  

 9 

 
and applied in the manner described on the face hereof; provided, however, that, unless otherwise specified on the face hereof, the interest
rate hereon will not be less than zero percent. Commencing on the Initial Interest Reset Date, the rate at which interest on this Subordinated Note is payable shall be reset as of each Interest Rate Reset Date specified on the face hereof;
provided, however, that the interest rate in effect for the period from the Original Issue Date to but excluding the Initial Interest Reset Date will be the Initial Interest Rate. 
  
 Notwithstanding the foregoing, if this Subordinated Note is designated on the
face hereof as having an Addendum attached, this Subordinated Note shall bear interest in accordance with the terms described in such Addendum. 
  
 Except as set forth above or specified on the face hereof or in an Addendum hereto, the interest rate in effect on each day shall be (i) if such day is an
Interest Reset Date, the interest rate determined as of the Interest Determination Date (as defined hereinafter) immediately preceding such Interest Reset Date or (ii) if such day is not an Interest Reset Date, the interest rate determined as of the
Interest Determination Date immediately preceding the most recent Interest Reset Date. If any Interest Reset Date would otherwise be a day that is not a Business Day, such Interest Reset Date shall be postponed to the next succeeding day that is a
Business Day, except that if LIBOR is an applicable Interest Rate Basis and if such Business Day falls in the next succeeding calendar month, such Interest Reset Date will be the immediately preceding Business Day. In addition, if the Treasury Rate
is an applicable Interest Rate Basis and the Interest Determination Date would otherwise fall on an Interest Reset Date, then such Interest Reset Date will be postponed to the next succeeding Business Day. 
  
 Unless otherwise specified on the face hereof, interest payable on this
Subordinated Note on any Interest Payment Date will equal the amount of interest accrued from and including the next preceding Interest Payment Date in respect of which interest has been paid (or from and including the Original Issue Date specified
on the face hereof, if no interest has been paid), to but excluding the related Interest Payment Date or Maturity Date or date of earlier redemption or repayment, as the case may be. 
  
 Unless otherwise specified on the face hereof, accrued interest hereon shall be an amount calculated by multiplying the face
amount hereof by an accrued interest factor. Such accrued interest factor is computed by adding the interest factor calculated for each day in the period for which interest is being calculated. Unless otherwise specified on the face hereof, the
interest factor for each such date will be computed by dividing the interest rate applicable to such day by 360 if the Commercial Paper Rate, the Federal Funds Rate, LIBOR or the Prime Rate is an applicable Interest Rate Basis or by the actual
number of days in the year if the CMT Rate or the Treasury Rate is an applicable Interest Rate Basis. Unless otherwise specified on the face hereof, the interest factor for this Subordinated Note, if the interest rate is calculated with reference to
two or more Interest Rate Bases, will be calculated in each period in the same manner as if only the applicable Interest Rate Bases specified on the face hereof applied. 
  
 The interest rate applicable to each day in an Interest Reset Period commencing on the related Interest Reset Date will be
determined by the Calculation Agent as of the applicable Interest Determination Date and will be calculated by the Calculation Agent on or prior to the Calculation Date (as defined hereinafter), except with respect to LIBOR, which will be 

  

 10 

 
calculated on such Interest Determination Date. The “Interest Determination Date” with respect to the CMT Rate, the Commercial Paper Rate, the
Federal Funds Rate and the Prime Rate will be the second Business Day immediately preceding the applicable Interest Reset Date; and the “Interest Determination Date” with respect to LIBOR shall be the second London Banking Day (as defined
hereinafter) immediately preceding the applicable Interest Reset Date, unless the Designated LIBOR Currency is British pounds sterling, in which case the “Interest Determination Date” will be the applicable Interest Reset Date. The
“Interest Determination Date” with respect to the Treasury Rate shall be the day in the week in which the applicable Interest Reset Date falls on which day Treasury Bills (as defined hereinafter) are normally auctioned (Treasury Bills are
normally sold at an auction held on Monday of each week, unless that day is a legal holiday, in which case the auction is normally held on the following Tuesday, except that such auction may be held on the preceding Friday); provided,
however, that if an auction is held on the Friday of the week preceding the applicable Interest Reset Date, the “Interest Determination Date” shall be such preceding Friday; provided, further, that if the Interest
Determination Date would otherwise fall on an Interest Reset Date, then such Interest Reset Date will be postponed to the next succeeding Business Day. If the interest rate of this Subordinated Note is determined with reference to two or more
Interest Rate Bases specified on the face hereof, the “Interest Determination Date” pertaining to this Subordinated Note shall be the latest Business Day which is at least two Business Days prior to the applicable Interest Reset Date on
which each Interest Rate Basis is determinable. Each Interest Rate Basis shall be determined as of such date, and the applicable interest rate shall take effect on the related Interest Reset Date. 
  
 Unless otherwise specified on the face hereof, the “Calculation
Date” pertaining to any Interest Determination Date will be the earlier of (i) the tenth calendar day after such Interest Determination Date or, if such day is not a Business Day, the next succeeding Business Day and (ii) the Business Day
immediately preceding the applicable Interest Payment Date or Maturity Date or date of earlier redemption or repayment, as the case may be. All calculations on this Subordinated Note shall be made by the Calculation Agent specified on the face
hereof or such successor thereto as is duly appointed by the Bank. The determination of any interest rate by the Calculation Agent will be final and binding absent manifest error. 
  
 All percentages resulting from any calculation on this Subordinated Note will be rounded, if necessary, to the nearest one
hundred-thousandth of a percentage point, with five one-millionths of a percentage point rounded upward (e.g., 9.876545% (or 0.09876545) would be rounded to 9.87655% (or 0.0987655) and 9.876544% (or 0.09876544) would be rounded to 9.87654% (or
0.0987654)), and all dollar amounts used in or resulting from such calculation will be rounded, in the case of United States dollars, to the nearest cent or, in the case of a foreign currency, to the smallest denominational unit (with one-half cent
being rounded upwards). 
  
 As used herein, “Business
Day” means, unless otherwise specified on the face hereof, any day that is not a Saturday or Sunday and that in The City of New York and in Pittsburgh, Pennsylvania is not a day on which banking institutions are authorized or required by law,
regulation or executive order to close and, if an Interest Rate Basis shown on the face hereof is LIBOR, is also a London Banking Day. 
  

 11 

 As used herein, unless otherwise specified on the face hereof, “London Banking Day” means any
day on which dealings in deposits in U.S. dollars are transacted in the London interbank market. 
  
 CMT Rate. If an Interest Rate Basis for this Note is the CMT Rate, as specified on the face hereof, the CMT Rate shall be determined by the
Calculation Agent as of the applicable Interest Determination Date (a “CMT Rate Interest Determination Date”) in accordance with the following provisions: 
  
 (i) If “CMT Moneyline Telerate Page 7051” is specified on the face hereof, the CMT Rate on the CMT Rate Interest
Determination Date shall be a percentage equal to the yield for United States Treasury securities at “constant maturity” having the Index Maturity specified on the face hereof as set forth in H.15(519) (as defined hereinafter) under the
caption “Treasury Constant Maturities”, as such yield is displayed on Moneyline Telerate (or any successor service) on page 7051 (or any other page as may replace such page on such service) (“Moneyline Telerate Page 7051”) for
such CMT Rate Interest Determination Date. If such rate does not appear on Moneyline Telerate Page 7051, the CMT Rate on such CMT Rate Interest Determination Date shall be a percentage equal to the yield for United States Treasury securities at
“constant maturity” having the Index Maturity specified on the face hereof and for such CMT Rate Interest Determination Date as set forth in H.15(519) under the caption “Treasury Constant Maturities”. If such rate does not appear
in H.15(519), the CMT Rate on such CMT Rate Interest Determination Date shall be the rate for the period of the Index Maturity specified on the face hereof as may then be published by either the Board of Governors of the Federal Reserve System (the
“Federal Reserve Board”) or the United States Department of the Treasury that the Calculation Agent determines to be comparable to the rate which would otherwise have been published in H.15(519). If the Federal Reserve Board or the United
States Department of the Treasury does not publish a yield on United States Treasury securities at “constant maturity” having the Index Maturity specified on the face hereof for such CMT Rate Interest Determination Date, the CMT Rate on
such CMT Rate Interest Determination Date shall be calculated by the Calculation Agent and shall be a yield-to-maturity based on the arithmetic mean of the secondary market bid prices at approximately 3:30 P.M., New York City time, on such CMT Rate
Interest Determination Date of three leading primary United States government securities dealers in The City of New York (which may include the Dealers or their affiliates) (each, a “Reference Dealer”) selected by the Calculation Agent
(from five such Reference Dealers selected by the Calculation Agent and eliminating the highest quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest)) for United
States Treasury securities with an original maturity equal to the Index Maturity specified on the face hereof, a remaining term to maturity no more than 1 year shorter than the Index Maturity specified on the face hereof and in a principal amount
that is representative for a single transaction in such securities in such market at such time. If fewer than five but more than two such prices are provided as requested, the CMT Rate on such CMT Rate Interest Determination Date shall be calculated
by the Calculation Agent and shall be based on the arithmetic mean of the bid prices obtained and neither the highest nor the lowest of such quotations shall be eliminated. If fewer than three prices are provided as requested, the CMT Rate on such
CMT Rate Interest Determination Date shall be calculated by the Calculation Agent and shall be a yield-to-maturity based on the arithmetic mean of the secondary market bid prices as of approximately 3:30 P.M., New York City time, on such CMT Rate
Interest Determination 

  

 12 

 
Date of three Reference Dealers selected by the Calculation Agent (from five such Reference Dealers selected by the Calculation Agent and eliminating the
highest quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest)) for United States Treasury securities with an original maturity greater than the Index Maturity
specified on the face hereof, a remaining term to maturity closest to the Index Maturity specified on the face hereof and in a principal amount that is representative for a single transaction in such securities in such market at such time. If fewer
than five but more than two such prices are provided as requested, the CMT Rate on such CMT Rate Interest Determination Date shall be calculated by the Calculation Agent and shall be based on the arithmetic mean of the bid prices obtained and
neither the highest nor the lowest of such quotations shall be eliminated; provided, however, that if fewer than three such prices are provided as requested, the CMT Rate determined as of such CMT Rate Interest Determination Date shall be the CMT
Rate in effect on such CMT Rate Interest Determination Date. If two such United States Treasury securities with an original maturity greater than the Index Maturity specified on the face hereof have remaining terms to maturity equally close to the
Index Maturity specified on the face hereof, the quotes for the Treasury security with the shorter original term to maturity will be used. 
  
 (ii) If “CMT Moneyline Telerate Page 7052” is specified on the face hereof, the CMT Rate on the CMT Rate Interest Determination Date shall be a
percentage equal to the one-week or one-month, as specified on the face hereof, average yield for United States Treasury securities at “constant maturity” having the Index Maturity specified on the face hereof as set forth in H.15(519)
opposite the caption “Treasury Constant Maturities”, as such yield is displayed on Moneyline Telerate (or any successor service) on page 7052 (or any other page as may replace such page on such service ) (“Moneyline Telerate Page
7052”) for the week or month, as applicable, ended immediately preceding the week or month, as applicable, in which such CMT Rate Interest Determination Date falls. If such rate does not appear on the Moneyline Telerate Page 7052, the CMT Rate
on such CMT Rate Interest Determination Date shall be a percentage equal to the one-week or one-month, as specified on the face hereof, average yield for United States Treasury securities at “constant maturity” having the Index Maturity
specified on the face hereof and for the week or month, as applicable, preceding such CMT Rate Interest Determination Date as set forth in H.15(519) opposite the caption “Treasury Constant Maturities”. If such rate does not appear in
H.15(519), the CMT Rate on such CMT Rate Interest Determination Date shall be the one-week or one-month, as specified on the face hereof, average yield for United States Treasury securities at “constant maturity” having the Index Maturity
specified on the face hereof as otherwise announced by the Federal Reserve Bank of New York for the week or month, as applicable, ended immediately preceding the week or month, as applicable, in which such CMT Rate Interest Determination Date falls.
If the Federal Reserve Bank of New York does not publish a one-week or one-month, as specified on the face hereof, average yield on United States Treasury securities at “constant maturity” having the Index Maturity specified on the face
hereof for the applicable week or month, the CMT Rate on such CMT Rate Interest Determination Date shall be calculated by the Calculation Agent and shall be a yield-to-maturity based on the arithmetic mean of the secondary market bid prices at
approximately 3:30 P.M., New York City time, on such CMT Rate Interest Determination Date of three Reference Dealers selected by the Calculation Agent (from five such Reference Dealers selected by the Calculation Agent and eliminating the highest
quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the 

  

 13 

 
lowest)) for United States Treasury securities with an original maturity equal to the Index Maturity specified on the face hereof, a remaining term to
maturity of no more than 1 year shorter than the Index Maturity specified on the face hereof and in a principal amount that is representative for a single transaction in such securities in such market at such time. If fewer than five but more than
two such prices are provided as requested, the CMT Rate on such CMT Rate Interest Determination Date shall be the rate on the CMT Rate Interest Determination Date calculated by the Calculation Agent based on the arithmetic mean of the bid prices
obtained and neither the highest nor lowest of such quotations shall be eliminated. If fewer than three prices are provided as requested, the CMT Rate on such CMT Rate Interest Determination Date shall be calculated by the Calculation Agent and
shall be a yield-to-maturity based on the arithmetic mean of the secondary market bid prices as of approximately 3:30 P.M., New York City time, on such CMT Rate Interest Determination Date of three Reference Dealers selected by the Calculation Agent
(from five such Reference Dealers selected by the Calculation Agent and eliminating the highest quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest)) for United
States Treasury securities with an original maturity greater than the Index Maturity specified on the face hereof, a remaining term to maturity closest to the Index Maturity specified on the face hereof and in a principal amount that is
representative for a single transaction in such securities in such market at such time. If fewer than five but more than two such prices are provided as requested, the CMT Rate on such CMT Rate Interest Determination Date shall be the rate on the
CMT Rate Interest Determination Date calculated by the Calculation Agent based on the arithmetic mean of the bid prices obtained and neither the highest nor lowest of such quotations shall be eliminated; provided, however, that if
fewer than three such prices are provided as requested, the CMT Rate determined as of such CMT Rate Interest Determination Date shall be the CMT Rate in effect on such CMT Rate Interest Determination Date. If two United States Treasury securities
with an original maturity greater than the Index Maturity specified on the face hereof have remaining terms to maturity equally close to the Index Maturity specified on the face hereof, the quotes for the Treasury security with the shorter original
term to maturity will be used. 
  
 “H.15(519)” means the
weekly statistical release designated as such, or any successor publication, published by the Federal Reserve Board. 
  
 Commercial Paper Rate. If an Interest Rate Basis for this Subordinated Note is the Commercial Paper Rate, as specified on the face hereof, the
Commercial Paper Rate shall be determined as of the applicable Interest Determination Date (a “Commercial Paper Rate Interest Determination Date”) as the Money Market Yield (as defined hereinafter) on such date of the rate for commercial
paper having the Index Maturity specified on the face hereof as published in H.15(519) under the caption “Commercial Paper-Nonfinancial” or, if not so published by 3:00 P.M., New York City time, on the related Calculation Date, the Money
Market Yield of the rate on such Commercial Paper Rate Interest Determination Date for commercial paper having the Index Maturity specified on the face hereof as published in H.15 Daily Update (as defined hereinafter), or such other recognized
electronic source used for the purpose of displaying such rate, under the caption “Commercial Paper-Nonfinancial.” If such rate is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M., New
York City time, on such Calculation Date, then the Commercial Paper Rate on such Commercial Paper Rate Interest Determination Date will be calculated by the Calculation Agent and will be the Money Market Yield of the arithmetic mean of the offered
rates at approximately 11:00 A.M., 

  

 14 

 
New York City time, on such Commercial Paper Rate Interest Determination Date of three leading dealers of United States dollar commercial paper in The City
of New York (which may include the Dealers or their Affiliates) selected by the Calculation Agent for commercial paper having the Index Maturity specified on the face hereof placed for industrial issuers whose bond rating is “Aa,” or the
equivalent, from a nationally recognized statistical rating organization; provided, however, that if the dealers so selected by the Calculation Agent are not quoting as mentioned in this sentence, the Commercial Paper Rate determined
as of such Commercial Paper Rate Interest Determination Date will be the Commercial Paper Rate in effect on such Commercial Paper Rate Interest Determination Date. 
  
 “H.15 Daily Update” means the daily update of H.15(519), available through the world-wide-web site of the Federal
Reserve Board at http://www.federalreserve.gov/releases/h15/update, or any successor site or publication. 
  
 “Money Market Yield” means a yield (expressed as a percentage) calculated in accordance with the following formula: 
  

					
	 Money Market Yield = 
	  	D x 360	  	x 100
	 	  	360 – (D x M)	  	 

  
 where “D”
refers to the applicable per annum rate for commercial paper quoted on a bank discount basis and expressed as a decimal, and “M” refers to the actual number of days in the applicable Interest Reset Period. 
  
 Federal Funds Rate. If an Interest Rate Basis for this Subordinated
Note is the Federal Funds Rate, as specified on the face hereof, the Federal Funds Rate shall be determined as of the applicable Interest Determination Date (a “Federal Funds Rate Interest Determination Date”) as the rate on such date for
United States dollar federal funds as published in H.15(519) under the heading “Federal Funds (Effective)”, as such rate is displayed on Moneyline Telerate (or any successor service) on page 120 (or any other page as may replace such page
on such service) (“Moneyline Telerate Page 120”), or, if such rate does not appear on Moneyline Telerate Page 120 or is not so published by 3:00 P.M., New York City time, on the related Calculation Date, the rate on such Federal Funds Rate
Interest Determination Date for United States dollar federal funds as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, under the caption “Federal Funds (Effective).”
If such rate does not appear on Moneyline Telerate Page 120 or is not yet published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00 P.M., New York City time, on the related Calculation Date, then the Federal Funds
Rate on such Federal Funds Rate Interest Determination Date will be calculated by the Calculation Agent and will be the arithmetic mean of the rates for the last transaction in overnight United States dollar federal funds arranged by three leading
brokers of United States dollar federal funds transactions in The City of New York (which may include the Dealers or their affiliates) selected by the Calculation Agent, prior to 9:00 A.M., New York City time, on such Federal Funds Rate Interest
Determination Date; provided, however, that if the brokers so selected by the Calculation Agent are not quoting as mentioned in this sentence, the Federal Funds Rate determined as of such Federal Funds Rate Interest Determination Date
will be the Federal Funds Rate in effect on such Federal Funds Rate Interest Determination Date. 
  

 15 

 LIBOR. If an Interest Rate Basis for this Subordinated Note is LIBOR, as specified on the face
hereof, LIBOR shall be determined by the Calculation Agent as of the applicable Interest Determination Date (a “LIBOR Interest Determination Date”) in accordance with the following provisions: 
  
 (i) (a) if “LIBOR Moneyline Telerate” is specified on the face
hereof or if neither “LIBOR Reuters” nor “LIBOR Moneyline Telerate” is specified on the face hereof as the method for calculating LIBOR, LIBOR will be the rate for deposits in the Designated LIBOR Currency having the Index
Maturity specified on the face hereof, commencing on the Interest Reset Date immediately following such LIBOR Interest Determination Date, that appears on the Designated LIBOR Page (as defined hereinafter) as of 11:00 A.M., London time, on such
LIBOR Interest Determination Date; or (b) if “LIBOR Reuters” is specified on the face hereof, the arithmetic mean of the offered rates (unless the Designated LIBOR Page by its terms provides only for a single rate, in which case such
single rate shall be used) for deposits in the Designated LIBOR Currency having the Index Maturity, commencing on such Interest Reset Date, that appear (or, if only a single rate is required as aforesaid, appears) on the Designated LIBOR Page as of
11:00 A.M., London time, on such LIBOR Interest Determination Date. If fewer than two such offered rates so appear, or if no such rate so appears, as applicable, LIBOR on such LIBOR Interest Determination Date shall be determined in accordance with
the provisions described in clause (ii) below. 
  
 (ii) With
respect to a LIBOR Interest Determination Date on which fewer than two offered rates appear, or no rate appears, as the case may be, on the Designated LIBOR Page as specified in clause (i) above, the Calculation Agent shall request the principal
London offices of each of four major reference banks in the London interbank market, as selected by the Calculation Agent, to provide the Calculation Agent with its offered quotation for deposits in the Designated LIBOR Currency for the period of
the Index Maturity, commencing on the Interest Reset Date immediately following such LIBOR Interest Determination Date, to prime banks in the London interbank market at approximately 11:00 A.M., London time, on such LIBOR Interest Determination Date
and in a principal amount that is representative for a single transaction in the Designated LIBOR Currency in such market at such time. If at least two such quotations are so provided, then LIBOR on such LIBOR Interest Determination Date will be the
arithmetic mean calculated by the Calculation Agent of such quotations. If fewer than two such quotations are so provided, then LIBOR on such LIBOR Interest Determination Date will be the arithmetic mean calculated by the Calculation Agent of the
rates quoted at approximately 11:00 A.M., in the applicable Principal Financial Center, on such LIBOR Interest Determination Date by three major banks in such Principal Financial Center selected by the Calculation Agent for loans in the Designated
LIBOR Currency to leading European banks, having the Index Maturity and in a principal amount that is representative for a single transaction in the Designated LIBOR Currency in such market at such time; provided, however, that if the
banks so selected by the Calculation Agent are not quoting as mentioned in this sentence, LIBOR determined as of such LIBOR Interest Determination Date will be LIBOR in effect on such LIBOR Interest Determination Date. 
  
 “Designated LIBOR Currency” means the currency specified on the
face hereof as to which LIBOR shall be calculated or, if no such currency is specified on the face hereof, United States dollars. 
  

 16 

 “Designated LIBOR Page” means (a) if “LIBOR Reuters” is specified on the face hereof,
the display on the Reuters Monitor Money Rates Service (or any successor service) on the page specified on the face hereof (or any other page as may replace such page on such service) for the purpose of displaying the London interbank rates of major
banks for the Designated LIBOR Currency, or (b) if “LIBOR Moneyline Telerate” is specified on the face hereof or neither “LIBOR Reuters” nor “LIBOR Moneyline Telerate” is specified on the face hereof as the method for
calculating LIBOR, the display on Moneyline Telerate (or any successor service) on the page specified on the face hereof (or any other page as may replace such page on such service) for the purpose of displaying the London interbank rates of major
banks for the Designated LIBOR Currency. 
  
 “Principal
Financial Center” means (i) the capital city of the country issuing the specified currency or (ii) the capital city of the country to which the Designated LIBOR Currency, if applicable, relates, except, in each case, that with respect to U.S.
dollars, Australian dollars, Canadian dollars, euros, South African rand and Swiss francs, the “Principal Financial Center” shall be The City of New York, Sydney, Toronto, The City of London (solely in the case of the Designated LIBOR
Currency), Johannesburg and Zurich, respectively. 
  
 Prime
Rate. If an Interest Rate Basis for this Subordinated Note is the Prime Rate, as specified on the face hereof, the Prime Rate shall be determined as of the applicable Interest Determination Date (a “Prime Rate Interest Determination
Date”) as the rate on such date as such rate is published in H.15(519) under the caption “Bank Prime Loan” or, if not published by 3:00 P.M., New York City time, on the related Calculation Date, the rate on such Prime Rate Interest
Determination Date as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, under the caption “Bank Prime Loan.” If such rate is not yet published in H.15(519), H.15 Daily
Update or another recognized electronic source by 3:00 P.M., New York City time, on the related Calculation Date, then the Prime Rate shall be the arithmetic mean calculated by the Calculation Agent of the rates of interest publicly announced by
each bank that appears on the Reuters Screen US PRIME 1 Page (as defined hereinafter) as such bank’s prime rate or base lending rate as of 11:00 A.M., New York City time, on such Prime Rate Interest Determination Date. If fewer than four such
rates so appear on the Reuters Screen US PRIME 1 Page for such Prime Rate Interest Determination Date by 3:00 P.M., New York City time, on the related Calculation Date, then the Prime Rate shall be the arithmetic mean calculated by the Calculation
Agent of the prime rates or base lending rates quoted on the basis of the actual number of days in the year divided by a 360-day year as of the close of business on such Prime Rate Interest Determination Date by three major banks (which may include
affiliates of the Dealers) in The City of New York selected by the Calculation Agent; provided, however, that if the banks so selected by the Calculation Agent are not quoting as mentioned in this sentence, the Prime Rate determined as
of such Prime Rate Interest Determination Date will be the Prime Rate in effect on such Prime Rate Interest Determination Date. 
  
 “Reuters Screen US PRIME 1 Page” means the display on the Reuters Monitor Money Rates Service (or any successor service) on the “US PRIME 1
Page” (or such other page as may replace the US PRIME 1 Page on such service) for the purpose of displaying prime rates or base lending rates of major United States banks. 
  

 17 

 Treasury Rate. If an Interest Rate Basis for this Subordinated Note is the Treasury Rate, as
specified on the face hereof, the Treasury Rate shall be determined as of the applicable Interest Determination Date (a “Treasury Rate Interest Determination Date”) as the rate from the auction held on such Treasury Rate Interest
Determination Date (the “Auction”) of direct obligations of the United States (“Treasury Bills”) having the Index Maturity specified on the face hereof under the caption “INVESTMENT RATE” on the display on Moneyline
Telerate (or any successor service) on page 56 (or any other page as may replace such page on such service) (“Moneyline Telerate Page 56”) or page 57 (or any other page as may replace such page on such service) (“Moneyline Telerate
Page 57”) or, if not so published by 3:00 P.M., New York City time, on the related Calculation Date, the Bond Equivalent Yield (as defined hereinafter) of the rate for such Treasury Bills as published in H.15 Daily Update, or such other
recognized electronic source used for the purpose of displaying such rate, under the caption “U.S. Government Securities/Treasury Bills/Auction High.” If such rate is not so published in H.15 Daily Update or another recognized electronic
source by 3:00 P.M., New York City time, on the related Calculation Date, the Treasury Rate on such Treasury Rate Interest Determination Date shall be the Bond Equivalent Yield of the auction rate of such Treasury Bills as announced by the United
States Department of the Treasury. In the event that such auction rate is not so announced by the United States Department of the Treasury on such Calculation Date, or if no such Auction is held, then the Treasury Rate on such Treasury Rate Interest
Determination Date shall be the Bond Equivalent Yield of the rate on such Treasury Rate Interest Determination Date of Treasury Bills having the Index Maturity specified on the face hereof as published in H.15(519) under the caption “U.S.
Government Securities/Treasury Bills/Secondary Market” or, if not yet published by 3:00 P.M., New York City time, on the related Calculation Date, the rate on such Treasury Rate Interest Determination Date of such Treasury Bills as published in
H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, under the caption “U.S. Government Securities/Treasury Bills/Secondary Market.” If such rate is not yet published in H.15(519),
H.15 Daily Update or another recognized electronic source by 3:00 P.M., New York City time, on the related Calculation Date, then the Treasury Rate on such Treasury Rate Interest Determination Date shall be calculated by the Calculation Agent and
shall be the Bond Equivalent Yield of the arithmetic mean of the secondary market bid rates, as of approximately 3:30 P.M., New York City time, on such Treasury Rate Interest Determination Date, of three leading primary United States government
securities dealers (which may include the Dealers or their affiliates) selected by the Calculation Agent, for the issue of Treasury Bills with a remaining maturity closest to the Index Maturity specified on the face hereof; provided,
however, that if the dealers so selected by the Calculation Agent are not quoting as mentioned in this sentence, the Treasury Rate determined as of such Treasury Rate Interest Determination Date will be the Treasury Rate in effect on such
Treasury Rate Interest Determination Date 
  
 “Bond
Equivalent Yield” means a yield (expressed as a percentage) calculated in accordance with the following formula: 
  

					
	 Bond Equivalent Yield = 
	  	D x N	  	x 100
	 	  	360 – (D x M)	  	 

  
 where “D” refers to the
applicable per annum rate for Treasury Bills quoted on a bank discount basis and expressed as a decimal, “N” refers to 365 or 366, as the case may be, and “M” refers to the actual number of days in the applicable Interest Reset
Period. 
  

 18 

 Any provision contained herein, including the determination of an Interest Rate Basis, the specification
of an Interest Rate Basis, calculation of the interest rate applicable to this Subordinated Note, its Interest Payment Dates or any other matter relating hereto may be modified as specified in an Addendum relating hereto if so specified on the face
hereof. 
  
 Notwithstanding the foregoing, the interest rate
hereon shall not be greater than the Maximum Interest Rate, if any, or less than the Minimum Interest Rate, if any, specified on the face hereof. In addition to any Maximum Interest Rate applicable hereto pursuant to the above provisions, the
interest rate on this Subordinated Note will in no event be higher than the maximum rate permitted by New York law, as the same may be modified by United States law of general application. The Calculation Agent shall calculate the interest rate
hereon in accordance with the foregoing on or before each Calculation Date. Unless otherwise specified on the face hereof, PNC Bank, National Association will be the Calculation Agent. 
  
 At the request of the holder hereof, the Calculation Agent shall provide to the holder hereof the interest rate hereon then
in effect and, if determined, the interest rate which shall become effective as of the next Interest Reset Date. 
  
 If this Subordinated Note is an Original Issue Discount Note and if an Event of Default with respect to this Subordinated Note shall have occurred and be
continuing, the Default Amount (as defined hereafter) of this Subordinated Note may be declared due and payable in the manner and with the effect provided herein. The “Default Amount” shall be equal to the adjusted issue price as of the
first day of the accrual period as determined under Final Treasury Regulation Section 1.1275-1(b) (or successor regulation) under the United States Internal Revenue Code of 1986, as amended, in which the date of acceleration occurs increased by the
daily portion of the original issue discount for each day in such accrual period ending on the date of acceleration, as determined under Final Treasury Regulation Section 1.1272-1(b) (or successor regulation) under the United States Internal Revenue
Code of 1986, as amended. Upon payment of (i) the principal, or premium, if any, so declared due and payable and (ii) interest on any overdue principal and overdue interest or premium, if any (in each case to the extent that the payment of such
interest shall be legally enforceable), all of the Bank’s obligations in respect of the payment of principal of, premium, if any, and interest on, this Subordinated Note shall terminate. 
  
 In case any Subordinated Note shall at any time become mutilated, destroyed,
lost or stolen, and such Subordinated Note or evidence of the loss, theft or destruction thereof satisfactory to the Bank and the Issuing and Paying Agent and such other documents or proof as may be required by the Bank and the Issuing and Paying
Agent shall be delivered to the Issuing and Paying Agent, the Bank shall issue and the Issuing and Paying Agent shall authenticate a new Subordinated Note, of like tenor and principal amount, having a serial number not contemporaneously outstanding,
in exchange and substitution for the mutilated Subordinated Note or in lieu of the Subordinated Note destroyed, lost or stolen but, in the case of any destroyed, lost or stolen Subordinated Note, only upon receipt of evidence satisfactory to the

  

 19 

 
Bank and the Issuing and Paying Agent that such Subordinated Note was destroyed, stolen or lost, and, if required, upon receipt of indemnity satisfactory to
the Bank and the Issuing and Paying Agent. Upon the issuance of any substituted Subordinated Note, the Bank and the Issuing and Paying Agent may require the payment of a sum sufficient to cover all expenses and reasonable charges connected with the
preparation and delivery of a new Subordinated Note. If any Subordinated Note which has matured or has been redeemed or repaid or is about to mature or to be redeemed or repaid shall become mutilated, destroyed, lost or stolen, the Bank may, instead
of issuing a substitute Subordinated Note, pay or authorize the payment of the same (without surrender thereof except in the case of a mutilated Subordinated Note) upon compliance by the holder with the provisions of this paragraph. 
  
 No recourse shall be had for the payment of principal of, premium, if any, or
interest on, this Subordinated Note for any claim based hereon, or otherwise in respect hereof, against any shareholder, employee, agent, officer or director, as such, past, present or future, of the Bank or of any successor corporation, either
directly or through the Bank or any successor corporation, whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part
of the consideration for the issue hereof, expressly waived and released. 
  
 An “Event of Default” with respect to this Subordinated Note will occur only if the Bank shall consent to, or a court or other administrative or governmental agency or body shall enter a decree or order for,
the appointment of a receiver or other similar official (other than a conservator) in any liquidation, insolvency or similar proceeding with respect to the Bank or all or substantially all of its property and, in the case of a decree or order, such
decree or order shall have remained in force for a period of 60 calendar days. If an Event of Default shall occur and be continuing, the holder of this Subordinated Note may declare the principal amount of, and accrued interest and premium, if any,
on, this Subordinated Note due and payable immediately by written notice to the Bank. Upon such declaration and notice, such principal amount, accrued interest and premium, if any, shall become immediately due and payable. Any Event of Default with
respect to this Subordinated Note may be waived by the holder hereof. Payment of principal on this Subordinated Note may be accelerated only in the case of an Event of Default. There is no right of acceleration in the case of a default in the
payment of principal of, premium, if any, or interest on, this Subordinated Note or in the performance of any other obligation of the Bank under this Subordinated Note or under any other security issued by the Bank.  
  
 Notwithstanding anything to the contrary in this Subordinated Note, to the
extent then required under or pursuant to applicable laws or regulations (including, without limitation, applicable capital regulations) then in effect, no repayment pursuant to an acceleration of maturity may be made on this Subordinated Note
without the prior approval of any bank supervisory authority having jurisdiction over the Bank and requiring such approval. 
  
 The Issuing and Paying Agency Agreement provides that the Bank will promptly notify, and provide copies of any such notice to, the Issuing and Paying
Agent, and the Issuing and Paying Agent will promptly mail by first-class mail, postage prepaid, copies of such notice to the 

  

 20 

 
holders of the Subordinated Notes, upon the occurrence of an Event of Default or of the curing or waiver of an Event of Default. 
  
 Nothing contained herein shall prevent any consolidation or merger of the
Bank with any other corporation, banking association or other legal entity (collectively, “corporation”) or successive consolidations or mergers in which the Bank or its successor or successors shall be a party or parties, or shall prevent
any sale, conveyance, transfer or lease of the property of the Bank as an entirety or substantially as an entirety to any other corporation authorized to acquire and operate the same; provided, however (and the Bank hereby covenants and agrees) that
any such consolidation, merger, sale or conveyance shall be upon the condition that: (i) immediately after such consolidation, merger, sale or conveyance the corporation (whether the Bank or such other corporation) formed by or surviving any such
consolidation or merger, or the corporation to which such sale or conveyance shall have been made, shall not be in default in the performance or observance of any of the terms, covenants and conditions of this Subordinated Note to be observed or
performed by the Bank; and (ii) the corporation (if other than the Bank) formed by or surviving any such consolidation or merger, or the corporation to which such sale or conveyance shall have been made, shall be organized under the laws of the
United States of America or any state thereof or the District of Columbia and shall expressly assume the due and punctual payment of the principal of, premium, if any, and interest on, this Subordinated Note. In case of any such consolidation,
merger, sale, conveyance, transfer or lease, and upon the assumption by the successor corporation of the due and punctual performance of all of the covenants in this Subordinated Note to be performed or observed by the Bank, such successor
corporation shall succeed to and be substituted for the Bank with the same effect as if it had been named in this Subordinated Note as the Bank and thereafter the predecessor corporation shall be relieved of all obligations and covenants in this
Subordinated Note and may be liquidated and dissolved. 
  
 Notwithstanding any other provision of this Subordinated Note, including specifically the provisions set forth herein relating to subordination, events of default and covenants of the Bank, it is expressly understood and agreed that any
conservator or receiver or other similar official of the Bank shall have the right in the performance of his legal duties, and as part of any transaction or plan of reorganization or liquidation designed to protect or further the continued existence
of the Bank or the rights of any parties or agencies with an interest in, or claim against, the Bank or its assets, to transfer or direct the transfer of the obligations of this Subordinated Note to any bank or bank holding company selected by such
official which shall expressly assume the obligation of the due and punctual payment of the unpaid principal of, premium, if any, and interest on, this Subordinated Note and the due and punctual performance of all covenants and conditions hereof;
and that the completion of such transfer and assumption shall serve to supersede and void any default, acceleration or subordination which may have occurred, or which may occur due or related to such transaction, plan, transfer or assumption
pursuant to the provisions of this Subordinated Note, and shall serve to return the holder hereof to the same position, other than for substitution of the obligor, it would have occupied had no default, acceleration or subordination occurred; except
that any interest and principal previously due, other than by reason of acceleration, and not paid shall, in the absence of a contrary agreement by the holder of this Subordinated Note, be deemed to be immediately due and payable as of the date of
such transfer and assumption, together with interest from its original due date at the rate provided for herein. 
  

 21 

 Any action by the holder of this Subordinated Note shall bind all future holders of this Subordinated
Note, and of any Subordinated Note issued in exchange or substitution hereof or in place hereof, in respect of anything done or permitted by the Bank or by the Issuing and Paying Agent in pursuance of such action. 
  
 The Issuing and Paying Agent shall maintain at its offices a register (the
register maintained in such office or any other office or agency of the Issuing and Paying Agent in Pittsburgh, Pennsylvania herein referred to as the “Subordinated Note Register”) in which, subject to such reasonable regulations as it may
prescribe, the Issuing and Paying Agent shall provide for the registration of the Subordinated Notes and of transfers of the Subordinated Notes. 
  
 The transfer of this Subordinated Note is registerable in the Subordinated Note Register, upon surrender of this Subordinated Note for registration of
transfer at the office or agency of the Issuing and Paying Agent in the Place of Payment, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Bank and the Issuing and Paying Agent duly executed by, the
holder hereof or his attorney duly authorized in writing, and thereupon one or more new Subordinated Notes of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or
transferees. 
  
 In the event of the failure by the Bank to make
payment of principal of, premium, if any, or interest on this Subordinated Note (and, in the case of payment of interest, such failure to pay shall have continued for 2 days), the Bank will, upon demand of the holder of this Subordinated Note, pay
to the holder of this Subordinated Note the whole amount then due and payable (without acceleration) on this Subordinated Note for principal of, premium, if any, and interest, with interest on the overdue principal of, premium, if any, and interest
on, this Subordinated Note to the extent provided for herein. If the Bank fails to pay such amount upon such demand, the holder of this Subordinated Note may, among other things, institute a judicial proceeding for the collection of such amount.

  
 Notwithstanding, anything else contained herein, no
prepayment whether through redemption, prepayment at the option of the Holder or acceleration on an Event of Default shall be made without prior OCC approval unless the Bank remains an eligible bank, as defined in 12 CFR 5.3(g), after the
prepayment. 
  
 No service charge shall be made to a holder of
this Subordinated Note for any transfer or exchange of this Subordinated Note, but the Bank may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. 
  
 Beneficial interests represented by this Subordinated Note are exchangeable
for definitive Subordinated Notes in registered form, of like tenor and of an equal aggregate principal amount, only if (x) The Depository Trust Company, as depository (the “Depository”) notifies the Bank that it is unwilling or unable to
continue as Depository for this Subordinated Note or if at any time the Depository ceases to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, and a successor depository is not appointed by the Bank within 60
days, or (y) the Bank in its sole discretion determines not to have such beneficial interests represented by this Subordinated Note. Any Subordinated Note representing such beneficial interests that is exchangeable pursuant to the preceding sentence
shall be exchangeable in whole for definitive 

  

 22 

 
Subordinated Notes in registered form, of like tenor and of an equal aggregate principal amount, in minimum denominations of $250,000 and integral multiples
of $1,000 in excess thereof. Such definitive Subordinated Notes shall be registered in the name or names of such person or persons as the Depository shall instruct the Issuing and Paying Agent. 
  
 Prior to due presentment of this Subordinated Note for registration of
transfer, the Bank, the Issuing and Paying Agent or any agent of the Bank or the Issuing and Paying Agent may treat the holder in whose name this Subordinated Note is registered as the owner hereof for all purposes, whether or not this Subordinated
Note be overdue, and neither the Bank, the Issuing and Paying Agent nor any such agent shall be affected by notice to the contrary except as required by applicable law. 
  
 All notices to the Bank under this Subordinated Note shall be in writing and addressed to the Bank at One PNC Plaza,
10th Floor, 249 Fifth Avenue, Pittsburgh, Pennsylvania 15222, Attention: Lisa Kovac, or to such other address of the
Bank as the Bank may notify the holder of this Subordinated Note. 
  
 This Subordinated Note shall be governed by, and construed in accordance with, the laws of the State of New York (without regard to conflicts of laws principles) and all applicable federal laws and regulations. 
  

 23 

  
 ABBREVIATIONS

  
 The following abbreviations, when used in the inscription
on the face of the within Subordinated Note, shall be construed as though they were written out in full according to applicable laws or regulations. 
  

							
	 	 	 TEN COM -
	 	as tenants in common	  	 
				
	 	 	 TEN ENT  -
	 	as tenants by the entireties	  	 
				
	 	 	 JT TEN      -
	 	as joint tenants with right of
survivorship and not as tenants
in common	  	 
		
	 	 	 UNIF GIFT MIN ACT -_________________ Custodian ____________________

	 	 	 	 	         (Cust)
	  	                      (Minor)
	 	 	 	 	                under Uniform Gifts to Minors Act
			
	 	 	 	 	 _______________________________

	 	 	 	 	 (State)
	  	 

  
 Additional
abbreviations may also be used 
 though not in the above list.  
  

 24 

  
 ASSIGNMENT 

 
 FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto 
  

  
 PLEASE INSERT SOCIAL SECURITY NUMBER OR OTHER IDENTIFYING NUMBER OF ASSIGNEE 
  
 _________________________________________________ 
  
 _________________________________________________ 
  

  

 (Please print or typewrite name and address, 
 including postal zip code, of assignee) 
  
 the within Subordinated Note and all rights thereunder, and hereby irrevocably constitutes
and appoints ________________________ 
  
 ___________________________________________________________________________________________________________ 
  
 to transfer said Subordinated Note on the books of the Issuing and Paying Agent, with full power of substitution in the premises. 
  

					
	 Dated:                                    
            
	  	 	  	 
	 	  	 	  	NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within Subordinated Note in every particular, without alteration or enlargement or any
change whatsoever.

  

	
	
	  
	 Signature Guarantee

  

 25 

  
 OPTION TO ELECT
REPAYMENT 
  
 The undersigned hereby irrevocably
request(s) and instruct(s) the Bank to repay this Subordinated Note (or portion hereof specified below) pursuant to its terms at a price equal to 100% of the principal amount hereof to be repaid, together with accrued and unpaid interest hereon,
payable to the date of repayment, to the undersigned, at ___________________________________________ 
                                       
                                        
                                        
                                        
                                        
                                        
                    
 (Please print or
typewrite name and address of the undersigned) 
  
 For this
Subordinated Note to be repaid, the undersigned must give to the Issuing and Paying Agent at its offices located at One PNC Plaza, 9th Floor, 249 Fifth Avenue, Pittsburgh, Pennsylvania 15222, Attention: Yvonne Mudd, or at such other place or places of which the Bank shall from time to time notify the holder of this Subordinated Note, not more than 60 days
nor less than 30 days prior notice to the date of repayment, with this “Option to Elect Repayment” form duly completed. 
  
 If less than the entire principal amount of this Subordinated Note is to be repaid, specify the portion hereof (which shall be increments of $1,000) which
the holder elects to have repaid and specify the denomination or denominations (which shall be $250,000 or an integral multiple of $1,000 in excess thereof) of the Subordinated Notes to be issued to the holder for the portion of this Subordinated
Note not being repaid (in the absence of any such specification, one such Subordinated Note will be issued for the portion not being repaid): 
  

					
	 $                                      
                  
	  	 	  	 
	 Dated:                                    
            
	  	 	  	NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within Subordinated Note in every particular, without alteration or enlargement or any
change whatsoever.

  

	
	
	  
	 Signature Guarantee

  

 26PNC $20,000,000,000 Global Note Program

 EXHIBIT 10.29 
  
 PNC BANK, NATIONAL ASSOCIATION 
  
 US$20,000,000,000 
 Global Bank Note Program

 for the Issue of Senior and Subordinated Bank Notes 
 with Maturities of more than Nine Months from Date of Issue 
  
 DISTRIBUTION AGREEMENT 
  
 July 30,
2004 
  
 J.P. MORGAN SECURITIES INC. 

270 Park Avenue, 8th Floor 
 New York, NY 10017 
  
 AND EACH OF THE DEALERS LISTED ON SCHEDULE 1 HERETO 
  
 Dear Sirs: 
  
 PNC Bank, National Association (the “Issuing Bank”), a
national bank organized under the laws of the United States, confirms its agreement with J.P. Morgan Securities Inc. and each of the other dealers listed on Schedule I hereto (each referred to as a “Dealer” and collectively referred
to as the “Dealers”) with respect to the issue and sale by the Issuing Bank of (i) senior unsecured debt obligations, with maturities of more than nine months, not insured by the Federal Deposit Insurance Corporation (the
“Senior Notes”) and (ii) subordinated unsecured obligations, with maturities of more than nine months, not insured by the Federal Deposit Insurance Corporation (the “Subordinated Notes” and, together with the Senior
Notes, the “Bank Notes”). The Issuing Bank is a subsidiary of The PNC Financial Services Group, Inc., a Pennsylvania corporation (the “Parent”). 
  
 SECTION 1. Appointment as Dealers. 
  
 (a) Appointment of Dealers. Subject to the terms and conditions stated herein, the Issuing Bank hereby agrees that
Bank Notes will be sold exclusively to or through the Dealers and appoints each Dealer as a dealer for the purpose of soliciting purchases of the Bank Notes from the Issuing Bank by others. Whenever the Issuing Bank agrees to sell Bank Notes
directly to a Dealer as principal for resale to others, such sale shall be made in accordance with the provisions of Section 3(a) hereof. No Dealer is authorized to appoint sub-dealers; however, any Dealer may engage the services of any other broker
or dealer in connection with the offer or sale of the Bank Notes. The Issuing Bank may appoint one or more other dealers for the purpose of soliciting purchases of the Bank Notes upon the terms of this Agreement by execution of a Dealer Agreement
(which may be in the form of Exhibit F-1 hereto) or pursuant to a Syndicated Terms Agreement (as defined below). In the event that the Issuing Bank elects to engage such additional dealers, the Issuing Bank shall, in the case of Bank Notes
with maturities of more than one year from date of issue, provide notice to each Dealer then party to this Agreement. Each Dealer is acting in connection with the Bank Notes individually and not collectively or jointly. 

 (b) Aggregate Principal Amount in Relation to Sale of Bank Notes. The Issuing Bank shall not
approve the solicitation of purchases of Bank Notes in excess of the aggregate principal amount of such Bank Notes which shall be authorized. Not more than US$20,000,000,000 aggregate principal amount of Bank Notes may be issued. Bank Notes may be
outstanding at any one time in an aggregate maximum principal amount equal to US$20,000,000,000. The Dealers will have no responsibility for maintaining records with respect to the aggregate principal amount of Bank Notes sold or at any time
outstanding or of otherwise monitoring the availability of Bank Notes for sale. 
  
 (c) Purchases as Principal. The Dealers shall not have any obligation to purchase Bank Notes from the Issuing Bank as principal, but the Dealers may agree from time to time to purchase Bank Notes as principal.
Any such purchase of Bank Notes by a Dealer as principal shall be made in accordance with Section 3(a) hereof. 
  
 (d) Solicitations as Agent. The Issuing Bank and each Dealer will, in connection with the offering of the Bank Notes on behalf of the Issuing Bank,
comply with the restrictions on the offering of Bank Notes and distribution of documents relating thereto set forth in Exhibit G hereto or such other restrictions agreed to by the Issuing Bank and such Dealer. The Dealer will communicate to
the Issuing Bank, orally, each offer to purchase Bank Notes solicited by such Dealer on an agency basis, other than those offers rejected by the Dealer. The Dealer shall have the right, in its absolute discretion, to reject any proposed purchase of
Bank Notes, as a whole or in part, and any such rejection shall not be deemed a breach of any Dealer’s agreement contained herein. The Issuing Bank may accept or reject any proposed purchase of the Bank Notes, in whole or in part. The Dealer
shall make reasonable efforts to assist the Issuing Bank in obtaining performance by each purchaser whose offer to purchase Bank Notes has been solicited by the Dealer and accepted by the Issuing Bank. A Dealer shall not have any liability to the
Issuing Bank in the event any such agency purchase is not consummated for any reason other than as a result of the default by the applicable Dealer of its obligations hereunder. If the Issuing Bank shall default on its obligation to deliver Bank
Notes to a purchaser whose offer it has accepted, the Issuing Bank shall (i) hold the Dealer harmless against any loss, claim or damage arising from or as a result of such default by the Issuing Bank and (ii) notwithstanding such default, pay to the
Dealer any commission to which it would be entitled in connection with such sale. 
  
 (e) Reliance. The Issuing Bank and the Dealers agree that any Bank Notes purchased by any Dealer shall be purchased, and any Bank Notes the placement of which a Dealer arranges shall be placed, by such Dealer
in reliance on the representations, warranties, covenants and agreements of the Issuing Bank contained herein and on the terms and conditions and in the manner provided herein. 
  

 2 

 SECTION 2. Representations and Warranties. 
  
 (a) The Issuing Bank represents and warrants to each Dealer as of the date
hereof, as of the date of each acceptance by the Issuing Bank of an offer for the purchase of Bank Notes (whether to a Dealer as principal or through a Dealer as agent), as of the date of each delivery of Bank Notes (whether to a Dealer as principal
or through a Dealer as agent) (the date of each such delivery to a Dealer as principal being hereafter referred to as a “Settlement Date”), and as of the times referred to in Section 8(b) hereof (each of the times referenced above
being referred to hereafter as a “Representation Date”), as follows: 
  
 (i) Offering Circular. The Issuing Bank has caused to be prepared an offering circular, dated July 30, 2004 (as such document may
hereafter be amended or supplemented (including by any pricing supplement) by the Issuing Bank, including the material incorporated therein by reference, the “Offering Circular”), to be used by the Dealers in connection with the
Dealers’ solicitation of purchasers of or offering of the Bank Notes. The Issuing Bank has been authorized by the Parent to incorporate by reference in the Offering Circular the Parent’s annual reports on Form 10-K, quarterly reports on
Form 10-Q and current reports on Form 8-K (and any and all amendments thereto) filed by the Parent with the Securities and Exchange Commission (the “SEC”) pursuant to the Securities Exchange Act of 1934, as amended (the
“1934 Act”), and the rules and regulations thereunder. The Offering Circular, as of the date hereof, does not and, as of the applicable Representation Date, will not, contain an untrue statement of a material fact or omit to state a
material fact necessary in order to make the statements made therein, in light of the circumstances under which they are made, not misleading; provided, however, that the representations and warranties in this subsection shall not
apply to statements in or omissions from the Offering Circular made in reliance upon and in conformity with information furnished to the Issuing Bank in writing by or on behalf of the Dealers expressly for use therein (as of the date hereof all such
information so provided by the Dealers is set forth in Schedule 2(a)(i) hereto). 
  
 The Issuing Bank will incorporate by reference in the Offering Circular the publicly available portions of each of its Consolidated
Reports of Condition and Income (each, a “Call Report” and collectively, the “Call Reports”) (i) for the years ended December 31, 2003, 2002 and 2001, and (ii) all Call Reports and any amendments or supplements
thereto, beginning with and including the Call Report for the period ended March 31, 2004 to and including the most recent Call Report filed or published prior to the offering of any Bank Notes. The publicly available portions of any Call Reports
filed by the Issuing Bank subsequent to the date of the Offering Circular and prior to the termination of the offering of the Bank Notes will be incorporated therein by reference. 
  
 The documents incorporated by reference into the Offering Circular, at the time they were or hereafter are
filed with the applicable federal regulatory authorities, complied, or when so filed will comply, in all material respects, with all applicable laws, rules and regulations and, when read together with the other information in the Offering Circular,
did not and will not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances in which they were or are made,
not misleading. 
  
 (ii) Due Organization,
Valid Existence and Good Standing. The Issuing Bank is a national banking association duly organized, validly existing and in good standing under the laws of the United States and is licensed, registered or qualified to conduct the business in
which it is engaged in each jurisdiction in which the conduct of its business or its ownership or leasing of property requires such license, registration or qualification, 
  

 3 

 except to the extent that the failure to be so licensed, registered or qualified or to be in good
standing would not have a material adverse effect on the Issuing Bank and its subsidiaries taken as a whole. The Issuing Bank is a subsidiary of the Parent, a Pennsylvania corporation registered as a bank holding company under the Bank Holding
Company Act of 1956, as amended, which has securities registered under the 1934 Act. 
  
 (iii) Due Authorization, Execution and Delivery of this Agreement and the Agency Agreement. The Issuing Bank has all corporate
power and authority necessary to execute, deliver and perform, and it has duly authorized, executed and delivered, this Agreement and the Issuing and Paying Agency Agreement dated as of July 30, 2004 (the “Agency Agreement”) between the
Issuing Bank and PNC Bank, National Association, as issuing and paying agent. This Agreement and the Agency Agreement are valid and legally binding agreements of the Issuing Bank, enforceable against the Issuing Bank in accordance with their
respective terms, subject to applicable bankruptcy, liquidation, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to, or affecting, the rights of creditors of national banking
associations, including laws relating to conservatorship and receivership of insured depository institutions, and to general equity principles. 
  
 (iv) Due Authorization, Execution and Delivery of the Bank Notes. The Bank Notes have been duly authorized and, when duly
completed, executed, authenticated, issued and delivered against payment of the consideration therefor in accordance with the provisions of the Agency Agreement and this Agreement, as specified in the Offering Circular or pursuant to any agreement
with respect to the purchase of such Bank Notes, will constitute valid and legally binding obligations of the Issuing Bank enforceable in accordance with their respective terms, subject to applicable bankruptcy, liquidation, insolvency, fraudulent
transfer, reorganization, moratorium and similar laws of general applicability relating to, or affecting, the rights of creditors of national banking associations, including laws relating to conservatorship and receivership of insured depository
institutions, and to general equity principles. 
  
 (v) Regulatory Exemptions. The Bank Notes to be issued by the Issuing Bank are exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”) by virtue of Section 3(a)(2) thereof and comply
with the requirements of 12 C.F.R. Part 16 (“Part 16”). Qualification of an indenture under the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”), is not required in connection with the offer,
sale, issuance and delivery of the Bank Notes as contemplated hereby. 
  
 (vi) Exemption from Investment Company Act. The Issuing Bank is not required to register under the provisions of the Investment Company Act of 1940, as amended (the “Investment Company Act”),
or to take any other action with respect to or under the Investment Company Act. 
  
 (vii) No Defaults: Regulatory Approvals. Neither the Issuing Bank or any of its subsidiaries nor the Parent or any of its
subsidiaries is in violation of its charter or in default in the performance or observance of any obligation, agreement, covenant or condition contained in any contract, indenture, mortgage loan agreement, note, lease or 
  

 4 

 other instrument to which it is a party or by which it or any of them or their properties are bound,
except to the extent that such defaults would not in the aggregate have a material adverse effect on the Issuing Bank and its subsidiaries taken as a whole or on the Parent and its subsidiaries taken as a whole. The execution, delivery and
performance by the Issuing Bank of this Agreement, of the Agency Agreement, of the Bank Notes and of any agreement with a Dealer to purchase such Bank Notes as principal, will not (A) constitute a breach of, or default under, the articles of
association or by-laws or other organizational documents of the Issuing Bank or any of its subsidiaries or the Parent or any of its subsidiaries, or any material obligation, agreement, covenant or condition in any contract, indenture, mortgage loan
agreement or other instrument relating to indebtedness for money borrowed to which the Issuing Bank or any of its subsidiaries or the Parent or any of its subsidiaries is a party, or (B) violate any law, order, rule, regulation or decree of any
court, governmental agency or authority having jurisdiction over the Issuing Bank or its subsidiaries or the Parent or any of its subsidiaries or any property of the Issuing Bank or its subsidiaries or the Parent or any of its subsidiaries; and no
consent, authorization or order of, or filing with, any court or governmental agency or body (collectively “Approvals”) is required for the consummation by the Issuing Bank of the transactions contemplated by this Agreement and any
agreement with a Dealer to purchase Bank Notes as principal, except such as have been obtained or will be obtained prior thereto and except such as may be required under applicable state or foreign securities or Blue Sky laws, assuming for purposes
of Part 16 that the Bank Notes are offered and sold in compliance with the restrictions set forth in Exhibit G hereto. 
  
 (viii) OCC Notice. The Issuing Bank has not received notice from the Office of the Comptroller of the Currency (the
“OCC”) that the OCC’s prior approval to issue or prepay Subordinated Notes is required under Section 5.47(f) of 12 C.F.R. Part 5. 
  
 (ix) Description of Bank Notes. The Bank Notes are substantially in the form heretofore delivered to the Dealers and conform to the
description thereof contained in the Offering Circular under the caption “Description of Notes”. 
  
 (x) Priority of Bank Notes. The Senior Notes are unsecured and unsubordinated debt obligations of the Issuing Bank and rank pari
passu among themselves and with all other unsecured and unsubordinated debt obligations of the Issuing Bank except, pursuant to Section 11(d)(11) of the Federal Deposit Insurance Act, the Issuing Bank’s unsecured deposit liabilities; the
Subordinated Notes are unsecured and subordinated debt obligations of the Issuing Bank and rank pari passu among themselves and with all other debt obligations of the Issuing Bank which are subordinate and junior in right of payment to the
Issuing Bank’s obligations to depositors and general creditors, other than obligations which, by their express terms, rank junior to the Subordinated Notes. 
  
 (xi) No Material Adverse Change. Since the respective dates as of which information is given in the
Offering Circular, (a) there has not been any material adverse change in the condition, financial or otherwise, business affairs, business prospects or results of operations, or any development reasonably likely to result in a prospective material
adverse change in the condition, financial or otherwise, business affairs, business 
  

 5 

 prospects or results of operations, of the Issuing Bank and its subsidiaries, or the Parent and its
subsidiaries, as the case may be, considered as one enterprise, whether or not arising in the ordinary course of business, other than as set forth or contemplated in the Offering Circular, and (b) there have been no material transactions entered
into by the Issuing Bank or any of its subsidiaries or the Parent or any of its subsidiaries other than those in the ordinary course of business, other than as set forth or contemplated in the Offering Circular. 
  
 (xii) Rating. The Bank Notes have been rated by a
“nationally recognized statistical rating organization” (as that term is defined by the SEC for purposes of Rule 436(g)(2) under the 1933 Act) and by each other nationally recognized statistical rating organization that has rated the Bank
Notes, in one of its four highest rating categories. 
  
 (xiii) Financial Statements and Financial Information. The consolidated financial statements and other financial information of the Parent and its consolidated subsidiaries included or incorporated by reference in the Offering
Circular present fairly the consolidated financial position of the Parent and its consolidated subsidiaries as of the dates indicated therein and the consolidated results of their operations for the periods specified therein; and, except as stated
therein, such financial statements have been prepared in conformity with generally accepted accounting principles in the United States applied on a consistent basis. The Call Reports and other financial information of the Issuing Bank included or
incorporated by reference in the Offering Circular present fairly the financial position of the Issuing Bank and the results of its operations for the periods specified therein; and, except as stated therein, have been prepared in conformity with
regulatory instructions issued by the Federal Financial Institution Examination Council applied on a consistent basis. The financial information of certain financial institutions, if any, acquired or proposed to be acquired by the Parent or the
Issuing Bank included or incorporated by reference in the Offering Circular present fairly the financial positions of such financial institutions as of the dates indicated therein and the results of their operations for the periods specified
therein. 
  
 (xiv) Legal Proceedings.
Except as may be set forth in the Offering Circular, there is no action, suit or proceeding before or by any court or governmental agency or body, domestic or foreign, now pending, or, to the knowledge of the Issuing Bank, threatened against or
affecting, the Parent or any of its subsidiaries or the Issuing Bank or any of its subsidiaries, which would be required to be disclosed in the Offering Circular by the Parent or any of its subsidiaries or the Issuing Bank or any of its subsidiaries
if the Bank Notes were required to be registered with the SEC on Form S-1 under the 1933 Act, or which might materially and adversely affect the consummation of this Agreement or the Agency Agreement or any transaction contemplated hereby or
thereby. 
  
 (xv) Commodity Exchange Act.
The Bank Notes, when issued, authenticated and delivered pursuant to the provisions of this Agreement and the Agency Agreement, will be excluded or exempted under the provisions of the Commodity Exchange Act. 
  
 (b) Additional Certifications. Any certificate signed by any officer
of the Issuing Bank or the Parent and delivered to the Dealers or to counsel for the Dealers in 
  

 6 

 connection with an offering of Bank Notes, or the sale of Bank Notes to a Dealer as principal, contemplated by this
Agreement shall be deemed a representation and warranty at the time made by the Issuing Bank to the Dealers as to the matters covered thereby on the date of such certificate and at each Representation Date referred to in Section 2(a) hereof
subsequent thereto relating to such offering or sale. 
  
 SECTION 3. Purchases as Principal; Solicitations as Agents. 
  
 (a) Purchases as Principal. Unless otherwise agreed by a Dealer and the Issuing Bank, Bank Notes shall be purchased by the Dealer as principal. Such purchases shall be made in accordance with terms agreed upon
by the Dealer and the Issuing Bank with respect to such information (as applicable) as is specified in Exhibit A hereto (which terms shall be agreed upon orally, with written confirmation prepared by the Dealer and mailed or sent via
facsimile transmission to the Issuing Bank) and, in the case of sales to Dealers on a syndicated basis, a separate terms agreement substantially in the form of Exhibit F-2 hereto (a “Syndicated Terms Agreement”). The
Dealer’s commitment to purchase Bank Notes as principal from the Issuing Bank shall be deemed to have been made on the basis of the representations and warranties of the Issuing Bank herein contained and shall be subject to the terms and
conditions herein set forth. Each purchase of Bank Notes from the Issuing Bank, unless otherwise agreed by the Issuing Bank and such Dealer, shall be at a discount from the principal amount of each such Bank Note equivalent to the applicable
commission, in immediately available funds, set forth in Exhibit B hereto. The amount of such discount shall be set forth in the written confirmation referred to above and the pricing supplement referred to in Section 4(f). The Dealer may
engage the services of any other broker or dealer in connection with the resale of the Bank Notes purchased as principal and may allow any portion of the discount received from the Issuing Bank in connection with such purchases to such brokers and
dealers. At the time of each purchase of Bank Notes by a Dealer as principal, the Dealer shall specify the requirements for the opinions of counsel and officers’ certificates pursuant to Sections 6(a), 6(b) and 6(c) hereof. The resale of any
Bank Notes acquired by such Dealer as principal shall be subject to all of the applicable selling restrictions set forth in Exhibit G hereto. 
  
 (b) Solicitations as Agents. On the basis of the representations and warranties herein contained, but subject to the terms and conditions herein
set forth, when agreed upon by the Issuing Bank and a Dealer, such Dealer, as an agent of the Issuing Bank, will use its reasonable efforts to solicit offers to purchase the Bank Notes upon the terms and conditions set forth herein and in the
Offering Circular. All Bank Notes sold through a Dealer as agent will be sold at 100% of their principal amount unless otherwise agreed to by the Issuing Bank and the Dealer. 
  
 The Issuing Bank reserves the right, in its sole discretion, to suspend solicitation of purchases of the Bank Notes through
the Dealers, as agents, commencing at any time for any period of time or permanently. Upon receipt of instructions from the Issuing Bank, the Dealers will forthwith suspend solicitation of purchases from the Issuing Bank until such time as the
Issuing Bank has advised the Dealers that such solicitation may be resumed. 
  
 The Issuing Bank agrees to pay each Dealer a commission, in the form of a discount, equal to the applicable percentage of the principal amount of each Bank Note sold by 
  

 7 

 the Issuing Bank as a result of a solicitation made by such Dealer as set forth in Exhibit B hereto, or as
otherwise agreed by the Issuing Bank and such Dealer. The amount of such commission shall be set forth in the written confirmation relating to such sale and in the pricing supplement referred to in Section 4(f). The Dealers may reallow any portion
of the commission payable pursuant hereto to dealers in connection with the offer and sale of any Bank Notes. 
  
 (c) Administrative Procedures. The purchase price, interest rate or formula, maturity date, discount or commission amount and other terms of the
Bank Notes (as applicable) specified in Exhibit A hereto shall be agreed upon by the Issuing Bank and the applicable Dealer and set forth in a pricing supplement to the Offering Circular to be prepared in connection with each sale of Bank
Notes. Administrative procedures with respect to the sale of Bank Notes shall be agreed upon from time to time by the Dealers and the Issuing Bank (the “Procedures”). The initial Procedures, as agreed upon by the Dealers and the
Issuing Bank, are set forth in Exhibit H hereto. The Dealers and the Issuing Bank agree to perform the respective duties and obligations specifically provided to be performed by the Dealers and the Issuing Bank herein and in the Procedures.

  
 (d) Delivery. The documents required to be delivered
pursuant to Section 6 hereof on the date hereof shall be delivered at the office of Cravath, Swaine & Moore LLP, 825 Eighth Avenue, New York, New York 10019, on the date hereof at 10:00 a.m. New York time, or at such other place and time as the
Dealers and the Issuing Bank may agree upon in writing (the “Closing Time”). If such documents are delivered via facsimile or electronic delivery, original copies of documents shall be sent promptly thereafter. 
  
 (e) Offering and Sale of Bank Notes. The Issuing Bank and the Dealers
agree that the Bank Notes are to be offered and sold as set forth in the Offering Circular. Each Dealer hereby severally represents and warrants to, and agrees with, the Issuing Bank that, in relation to Bank Notes to be issued and sold in reliance
upon Section 16.6(a) of Part 16, it will only offer and sell Bank Notes to, or accept offers to purchase Bank Notes from, persons it reasonably believes are “accredited investors” (as defined in Rule 501(a) under the 1933 Act) in minimum
denominations of not less than $250,000. 
  
 SECTION 4. Covenants of the Issuing Bank. 
  
 The
Issuing Bank covenants with the Dealers as follows: 
  
 (a)
Amending Offering Circular. The Issuing Bank will give the Dealers notice of its intention to prepare any additional offering circular supplement with respect to the sale of Bank Notes or any amendment or supplement to the Offering Circular
and will furnish the Dealers with copies of any such amendment or supplement or other documents proposed to be distributed a reasonable time in advance of such distribution and will not distribute any such amendment or supplement or other documents
in a form to which the Dealers or counsel for the Dealers shall reasonably object. The Issuing Bank will advise the Dealers of (i) any request of any bank regulatory agency or the SEC for any amendment of or supplement to the Offering Circular
(including, without limitation, the documents incorporated by reference therein) or for any additional information; (ii) the institution or threat by any bank regulatory agency or the SEC of any proceeding with respect to the Offering Circular
(including, without limitation, the 
  

 8 

 documents incorporated by reference therein) or any amendment or supplement thereto or the offering or sale of the Bank
Notes, and (iii) the receipt by the Issuing Bank of any notification with respect to the suspension of the qualification of the Bank Notes for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose. The Issuing
Bank will use its best efforts to prevent the issuance of any order or similar action interfering with the offering or sale of the Bank Notes or the use of the Offering Circular, and, if issued, to obtain as soon as possible the withdrawal thereof.

  
 (b) Copies of Offering Circular. The Issuing Bank will
deliver to the Dealers as many copies of the Offering Circular (as amended or supplemented, including documents incorporated by reference therein) as the Dealers shall reasonably request in connection with sales or solicitations of offers to
purchase the Bank Notes. 
  
 (c) Revisions of Offering Circular
— Material Changes. Except as otherwise provided in subsection (d) of this Section 4, if any event shall occur or condition exist as a result of which it is necessary, in the reasonable opinion of counsel for the Dealers or counsel for the
Issuing Bank, to amend or supplement the Offering Circular in order that the Offering Circular will not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made therein, in light
of the circumstances under which they are made, not misleading, immediate notice shall be given, and confirmed in writing, to the Dealers to cease the solicitation of offers to purchase the Bank Notes in their capacity as agents and to cease sales
of any Bank Notes the Dealers may then own as principal, and the Issuing Bank will promptly prepare such amendment or supplement as may be necessary to correct such untrue statement or omission. The Dealers shall, at such time as the Issuing Bank
shall have furnished to the Dealers an amended or supplemented Offering Circular in form satisfactory to the Dealers and their counsel, resume solicitation of offers to purchase Bank Notes using the Offering Circular as so amended and supplemented.

  
 (d) Suspension of Certain Obligations. The Issuing Bank
shall not be required to comply with the provisions of subsection (c) of this Section 4 during any period from the later of the time (i) the Dealers shall have suspended solicitation of purchases of the Bank Notes in their capacity as agents
pursuant to a request from the Issuing Bank and (ii) no Dealer shall then hold any Bank Notes purchased as principal pursuant hereto, until the time the Issuing Bank shall determine the solicitation of purchases of the Bank Notes should be resumed
or the Dealers shall subsequently purchase Bank Notes from the Issuing Bank as principal pursuant hereto. 
  
 (e) Regulatory Reports. The Issuing Bank shall provide the Dealers with copies of any publicly available reports (financial or otherwise) furnished
to or filed by either the Issuing Bank or the Parent with any federal or state supervisory or regulatory authority as promptly as practicable after such reports become publicly available. 
  
 (f) Preparation of Pricing Supplements. The Issuing Bank will prepare, with respect to any Bank Notes to be sold
through or to the Dealers pursuant to this Agreement, a pricing supplement with respect to such Bank Notes substantially in the form attached hereto as Exhibit A. 
  

 9 

 (g) Blue Sky Qualifications. The Issuing Bank will endeavor, in cooperation with the Dealers, to
qualify the Bank Notes for offering and sale under the applicable securities laws of such States and other jurisdictions of the United States as the Dealers may designate, and will maintain such qualifications in effect for as long as may be
required for the distribution of the Bank Notes; provided, however, that the Issuing Bank shall not be required to take any action which would subject it to general or unlimited service of process or to qualify as a foreign corporation
in any jurisdiction in which it is not so qualified. The Issuing Bank will file such statements and reports as may be required by the laws of each jurisdiction in which the Bank Notes have been qualified as above provided. The Issuing Bank will
promptly advise the Dealers of the receipt by it of any notification with respect to the suspension of the qualification of the Bank Notes for sale in any such State or jurisdiction or the initiating or threatening of any proceeding for such
purpose. 
  
 (h) Stand-Off Agreement. In connection with a
purchase by a Dealer of Bank Notes as principal, between the date of the agreement to purchase such Bank Notes and the Settlement Date with respect to such purchase, the Issuing Bank will not, without the prior consent of the Dealer who is a party
to such agreement, offer or sell, or enter into any agreement to sell, any debt securities or deposit obligations of the Issuing Bank (other than the Bank Notes that are to be sold pursuant to such agreement, deposit and other bank obligations
issued and sold directly by the Issuing Bank in the ordinary course of its business and debt instruments described in Section 3(a)(3) of the 1933 Act). 
  
 (i) Termination of Purchaser Obligations. The Issuing Bank agrees that any person who has agreed to purchase Bank Notes as the result of an offer
to purchase solicited by a Dealer has the right, exercisable only prior to such purchase, to refuse to purchase and pay for such Bank Notes if, on the related Settlement Date fixed pursuant to the Procedures, any event or condition set forth in
Section 12(b) hereof shall have occurred and be continuing on such date (it being understood that the judgment of such person with respect to the impracticability of such purchase of the Bank Notes shall be substituted, for purposes of this Section
4(i), for the respective judgment of such Dealer with respect to certain matters referred to in such Section 12(b), and that such Dealer shall have no duty or obligation whatsoever to exercise the judgment permitted under such Section 12(b) on
behalf of any such person). 
  
 (j) Filing with the OCC. To
the extent then required by applicable regulation, the Issuing Bank will file the Offering Circular with the OCC no later than the fifth business day after it is first used, and, to the extent then required by applicable regulation, the Issuing Bank
will file with the OCC any amendment or supplement to the Offering Circular within five business days after it is first used, excluding any document incorporated by reference therein. 
  
 SECTION 5. Payment of Expenses. 
  
 Whether or not the transactions contemplated hereunder are consummated or this Agreement or any agreement by a Dealer to
purchase Bank Notes as principal is terminated, the Issuing Bank agrees to pay or cause to be paid all expenses incident to the performance of its obligations under this Agreement including: (a) the printing, preparation and delivery of the Offering
Circular and all amendments and supplements thereto; (b) the preparation and reproduction of this Agreement; (c) the preparation, issuance and delivery of the Bank Notes, 
  

 10 

 including any fees and expenses related to the use of book-entry notes; (d) the fees and disbursements of the Issuing
Bank’s counsel and accountants and the Dealers’ counsel and of any calculation agents or exchange rate agents; (e) any advertising and other out-of-pocket expenses of the Dealers incurred with the approval of the Issuing Bank; (f) the
qualification of the Bank Notes under state securities laws in accordance with the provisions of Section 4(g) hereof, including the filing fees and the reasonable fees and disbursements of counsel for the Dealers in connection therewith and in
connection with the preparation of any Blue Sky Survey and any Legal Investment Survey; (g) the fees and expenses, if any, incurred with respect to compliance with any applicable requirements of Rule 2720 of the Conduct Rules of the National
Association of Securities Dealers, Inc., including the filing fees and the fees and disbursements of counsel to the Dealers in connection therewith; (h) all fees paid to exchanges in connection with the listing of the Bank Notes on any exchange; and
(i) the cost of preparing and providing any CUSIP or other identification numbers for the Bank Notes. 
  
 Whether or not the transactions contemplated hereunder are consummated or this Agreement is terminated, the Issuing Bank also agrees to pay all fees
charged by rating agencies for the rating of any of the Bank Notes as well as the fees, expenses and disbursements of counsel to the Dealers incurred in connection with the establishment of the Global Bank Note Program described in the Offering
Circular and from time to time in connection with the transactions contemplated hereby and any opinions to be rendered by such counsel hereunder. 
  
 SECTION 6. Conditions of Dealers’ Obligations. 
  
 The obligations of the Dealers to solicit offers to purchase the Bank Notes as agents of the Issuing Bank, the obligations
of any purchasers of Bank Notes sold through a Dealer as agent, and any obligation of a Dealer to purchase Bank Notes pursuant to any agreement by such Dealer to purchase Bank Notes as principal (or otherwise), will be subject at all times to the
accuracy of the representations and warranties contained herein on the part of the Issuing Bank and to the accuracy of the statements of the Issuing Bank’s and the Parent’s officers made in any certificate furnished pursuant to the
provisions hereof, to the performance and observance by the Issuing Bank of all covenants and agreements herein contained and to the following additional conditions precedent: 
  
 (a) Legal Opinions. On the date hereof and, if required pursuant to Section 8(c) hereof, the Dealers shall have
received the following legal opinions, dated as of the date hereof, or as of such other applicable date as the case may be, and in form and substance satisfactory to the Dealers: 
  
 (i) Opinions of Counsel to the Issuing Bank and the Parent. The opinion of Thomas R. Moore, Esq.,
internal counsel to the Issuing Bank and the Parent, and the opinion of Reed Smith LLP, external counsel to the Issuing Bank and the Parent, substantially in the forms of Exhibit C-1 and Exhibit C-2 hereto respectively. 
  
 (ii) Opinion of Counsel to the Dealers. The opinion
of Cravath, Swaine & Moore LLP, counsel to the Dealers, covering such matters as they may request. 
  

 11 

 (b) Officer’s Certificates. On the date hereof and, if required pursuant to Section 8(b)
hereto, on each other applicable date as the case may be, the Dealers shall have received a certificate of the President, a Senior Vice President or a Vice President, or the equivalent thereof, of the Issuing Bank satisfactory to the Dealers,
substantially in the form of Exhibit D hereto. 
  
 (c)
Representations Certificate. On the date hereof and, if required pursuant to Section 8(b) hereto, on each other applicable date as the case may be the Dealers shall have received a certificate of the President, a Senior Vice President or a
Vice President of the Parent, substantially in the form of Exhibit E hereto. 
  
 (d) Accountant’s Comfort Letter. On the date hereof and, if required pursuant to Section 8(d) hereof, the Dealers shall have received a letter dated the date hereof or such other applicable date as the
case may be and in form and substance satisfactory to the Dealers, from the independent accountants to the Parent, containing statements and information of the type ordinarily included in accountants’ “comfort letters” to underwriters
with respect to the financial statements and certain financial information contained or incorporated by reference into the Offering Circular, and confirming that they are independent certified public accountants with respect to the Parent pursuant
to the Code of Professional Conduct of the American Institute of Certified Public Accountants. 
  
 (e) Ratings. The Bank Notes shall have been rated investment grade by at least one nationally recognized statistical rating organization.

  
 (f) Other Documents. On the date hereof and on each
Settlement Date, counsel to the Dealers shall have been furnished with such documents and opinions as such counsel may reasonably request for the purpose of enabling such counsel to pass upon the issuance and sale of the Bank Notes as herein
contemplated and related proceedings, or in order to evidence the accuracy and completeness of any of the representations and warranties, or the fulfillment of any of the conditions, herein contained; and all proceedings taken by the Issuing Bank in
connection with the issuance and sale of the Bank Notes as herein contemplated shall be satisfactory in form and substance to the Dealers and to counsel to the Dealers. 
  
 (g) Termination. If any condition specified in this Section 6 shall not have been fulfilled when and as required to
be fulfilled, this Agreement (or, at the option of the Dealer, any applicable agreement by such Dealer to purchase Bank Notes as principal) may be terminated, insofar as this Agreement or such agreement relates to a particular Dealer, by such
Dealer, by notice to the Issuing Bank at any time prior to the fulfillment of such condition and any such termination shall be without liability of any party to any other party, except that the provisions under Section 5 hereof, the indemnity and
contribution agreements set forth in Sections 9 and 10 hereof, the provisions of Section 11 hereof, the termination procedures of Section 12(c) hereof, the notice provisions of Section 13 hereof, the provisions set forth under “Parties” of
Section 14 hereof and the governing law provisions set forth under Section 15 hereof shall remain in effect. 
  

 12 

 SECTION 7. Delivery of and Payment for Bank Notes Sold through a Dealer.

  
 Delivery of Bank Notes sold by the Issuing Bank through a
Dealer as agent shall be made by the Issuing Bank to such Dealer for the account of any purchaser only against payment therefor in immediately available funds. In the event that a purchaser shall fail either to accept delivery of or to make payment
for a Bank Note on the date fixed for settlement, the Dealer shall promptly notify the Issuing Bank and deliver the Bank Note to the Issuing Bank, and, if the Dealer has theretofore paid the Issuing Bank for such Bank Note, the Issuing Bank will
promptly return such funds to the Dealer. If such failure shall have occurred for any reason other than as a result of the default by the applicable Dealer with respect to its obligations hereunder, the Issuing Bank will reimburse such Dealer on an
equitable basis for its loss of the use of funds during the period when the funds were credited to the account of the Issuing Bank. 
  
 SECTION 8. Additional Covenants of the Issuing Bank. 
  
 The Issuing Bank covenants and agrees with each Dealer that: 
  
 (a) Reaffirmation of Representations and Warranties. Each acceptance by the Issuing Bank of an offer for the purchase
of Bank Notes (whether to a Dealer as principal or through the Dealer as agent), and each delivery of such Bank Notes to the Dealers, shall be deemed to be an affirmation that the representations and warranties of the Issuing Bank contained in this
Agreement and in any certificate theretofore delivered to the Dealers pursuant hereto are true and correct at the time of such acceptance or delivery, as the case may be, and an undertaking that such representations and warranties will be true and
correct at the time of delivery by the Issuing Bank to the purchaser or his agent, or to the applicable Dealer, of such Bank Notes relating to such acceptance or delivery, as though made at and as of each such time (and it is understood that such
representations and warranties shall relate to the Offering Circular as amended and supplemented to each such time, including any amendment resulting from incorporation by reference of documents filed by the Issuing Bank or the Parent). 

 
 (b) Subsequent Delivery of Certificates. Each time that (i) the
Offering Circular shall be amended or supplemented (other than by an amendment or supplement providing solely for pricing information), (ii) there is filed with the OCC or SEC any document incorporated by reference into the Offering Circular (but
only upon request from the Dealers with respect to a document incorporated by reference into the Offering Circular), (iii) if requested by a Dealer in connection with the purchase of Bank Notes by such Dealer as principal, the Issuing Bank sells
Bank Notes to such Dealer as principal, (iv) the Issuing Bank issues and sells Bank Notes in a form not previously certified to the Dealers by the Issuing Bank, or (v) if so indicated in the applicable Syndicated Terms Agreement, the Issuing Bank
sells Bank Notes to the Dealers pursuant to a Syndicated Terms Agreement, in each case the Issuing Bank shall furnish or cause to be furnished to the Dealers forthwith certificates from each of the Issuing Bank and the Parent dated the date of
filing of such amendment, supplement, or document with the OCC or the SEC, or the Settlement Date, as the case may be, in form satisfactory to the Dealers to the effect that the statements contained in the certificates referred to in Sections 6(b)
and 6(c) hereof which were last furnished to the Dealers are true and correct at the time of such amendment or supplement or filing or sale, as the case may be, as though made at and as of such time (except that such statements shall be deemed to
relate to the Offering 
  

 13 

 Circular as amended and supplemented to such time, including any amendment resulting from incorporation by reference of
documents filed by the Issuing Bank and the Parent), or, in lieu of such certificates, certificates of the same form as the certificates referred to in said Sections 6(b) and 6(c), modified as necessary to relate to the Offering Circular as amended
and supplemented to the time of delivery of such certificates; provided, however, that except if the Dealers shall then hold any Notes acquired from the Bank as principal (other than such Notes as shall have been held for a period of
ninety days or more), no certificates need be given during any period in which the Dealers have been instructed to or have suspended the solicitation and receipt of offers to purchase Notes but shall be required to be given before the Dealers shall
again resume solicitation and receipt of offers to purchase Notes. 
  
 (c) Subsequent Delivery of Legal Opinions. Each time that (i) an annual report is filed with the OCC or SEC, (ii) the Offering Circular shall be amended or supplemented, other than documents incorporated by reference (but only upon
request from the Dealers with respect to an amendment or supplement providing solely pricing information), (iii) other than an annual report, there is filed with the OCC or SEC any document, including a quarterly report, incorporated by reference in
the Offering Circular (but only upon request from the Dealers), (iv) the Issuing Bank sells Bank Notes to such Dealer as principal, if part of the terms agreed upon by the Dealer and the Issuing Bank, (v) the Issuing Bank issues and sells Bank Notes
in a form not previously certified to the Dealers by the Issuing Bank, or (vi) if so indicated in the applicable Syndicated Terms Agreement, the Issuing Bank sells Bank Notes to the Dealers pursuant to a Syndicated Terms Agreement, in each case the
Issuing Bank shall furnish or cause to be furnished forthwith to the Dealers and their counsel a written opinion from each counsel last furnishing the opinions referred to in Section 6(a)(i) hereof, or other counsel satisfactory to the Dealers,
dated the date of filing of such amendment, supplement or document with the OCC or the SEC, or the Settlement Date, as the case may be, in form satisfactory to the Dealers, of the same form as the opinions referred to in Section 6(a)(i) hereof but
modified, as necessary, to relate to the Offering Circular as amended and supplemented to the time of delivery of such opinions or, in lieu of such opinion by either counsel, such counsel last furnishing such opinion to the Dealer shall furnish the
Dealers with a letter to the effect that the Dealer may rely on such last opinion to the same extent as though it was dated the date of such letter authorizing reliance (except that statements in such last opinion shall be deemed to relate to the
Offering Circular as amended and supplemented to the time of delivery of such letter authorizing reliance); provided, however, that except if the Dealers shall then hold any Notes acquired from the Bank as principal (other than such
Notes as shall have been held for a period of ninety days or more), no opinions need be given during any period in which the Dealers have been instructed to or have suspended the solicitation and receipt of offers to purchase Notes but shall be
required to be given before the Dealers shall again resume solicitation and receipt of offers to purchase Notes. 
  
 (d) Subsequent Delivery of Comfort Letters. Each time that (i) the Offering Circular shall be amended or supplemented or there is filed with the
OCC or SEC any document incorporated by reference in the Offering Circular (but only upon request from the Dealers except with respect to an amendment or supplement setting forth or incorporating by reference financial information), (ii) the Issuing
Bank sells Bank Notes to such Dealer as principal, if part of the terms agreed upon by the Dealer and the Issuing Bank, or (iii) if so indicated in the applicable Syndicated Terms Agreement, the Issuing Bank sells Bank Notes to the Dealers

  

 14 

 pursuant to a Syndicated Terms Agreement, in each case the Issuing Bank shall cause the independent accountants to the
Parent forthwith to furnish the Dealers a letter, dated the date of filing of such amendment, supplement or document with the OCC or the SEC, or the Settlement Date, as the case may be, in form satisfactory to the Dealers, of the same tenor as the
letter referred to in Section 6(d) hereof with such changes as may be necessary to reflect the amended and supplemented financial information included or incorporated by reference in the Offering Circular, as amended or supplemented to the date of
such letter; provided, however, that if the Offering Circular is amended or supplemented solely to include financial information as of and for a fiscal quarter, the independent accountants to the Parent may limit the scope of such
letter to the unaudited financial statements included in such amendment or supplement unless any other information included therein of an accounting, financial or statistical nature is of such a nature that, in the Dealer’s judgment, such
letter should cover such other information; provided, however, that except if the Dealers shall then hold any Notes acquired from the Bank as principal (other than such Notes as shall have been held for a period of ninety days or
more), no letters need be given during any period in which the Dealers have been instructed to or have suspended the solicitation and receipt of offers to purchase Notes but shall be required to be given before the Dealers shall again resume
solicitation and receipt of offers to purchase Notes. 
  
 SECTION 9. Indemnification. 
  
 (a)
Indemnification of Dealers. The Issuing Bank agrees to indemnify and hold harmless each Dealer and each person, if any, who controls each Dealer within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act as follows:

  
 (i) against any and all loss, liability,
claim, damage and expense whatsoever, as incurred, arising out of any untrue statement or alleged untrue statement of a material fact contained in the Offering Circular (or any amendment or supplement thereto), or the omission or alleged omission
therefrom of a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; 
  
 (ii) against any and all loss, liability, claim, damage and expense whatsoever, as incurred, to the extent of the aggregate amount paid in
settlement of any litigation, or investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission,
provided that (subject to Section 9(d) hereof) any such settlement is effected with the written consent of the Issuing Bank; and 
  
 (iii) against any and all expense whatsoever (including the fees and disbursements of counsel chosen by the Dealers), as incurred in
investigating, preparing or defending against any litigation, or investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such untrue statement or omission, or any such alleged
untrue statement or omission, to the extent that any such expense is not paid under (i) or (ii) above; 
  

 15 

 provided, however, that this indemnity does not apply to any loss, liability, claim, damage or expense to
the extent arising out of an untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with written information furnished to the Issuing Bank by the Dealers expressly for use in the Offering
Circular (or any amendment or supplement thereto). This indemnity will be in addition to any liability that the Issuing Bank may otherwise have. 
  
 (b) Indemnification of the Issuing Bank. Each Dealer agrees, severally and not jointly, to indemnify and hold harmless the Issuing Bank and each
person, if any, who controls the Issuing Bank within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act against any and all loss, liability, claim, damage and expense whatsoever described in the indemnity contained in subsection
(a) of this Section 9, as incurred, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in the Offering Circular (or any amendment or supplement thereto) in reliance upon and in conformity with
written information furnished to the Issuing Bank by such Dealer expressly for use in the Offering Circular (or any amendment or supplement thereto). 
  
 (c) Actions Against Parties; Notification. Each indemnified party shall give prompt notice to each indemnifying party of any action commenced
against it in respect of which indemnity may be sought hereunder, but failure to so notify an indemnifying party shall not relieve such indemnifying party from any liability hereunder to the extent it is not materially prejudiced as a result thereof
and in any event shall not relieve it from any liability which it may have otherwise than on account of this Section 9. In the case of parties indemnified pursuant to Section 9(a) hereof, counsel to the indemnified parties shall be selected by the
applicable Dealer(s) and, in the case of parties indemnified pursuant to Section 9(b) hereof, counsel to the indemnified parties shall be selected by the Issuing Bank. An indemnifying party may participate at its own expense in the defense of any
such action; provided, however, that counsel to the indemnifying party shall not (except with the consent of the indemnified party) also be counsel to the indemnified party. In no event shall the indemnifying parties be liable for the
fees and expenses of more than one counsel (in addition to any local counsel) separate from their own counsel for all indemnified parties in connection with any one action or separate but similar or related actions in the same jurisdiction arising
out of the same general allegations or circumstances. 
  
 No
indemnifying party shall, without the prior written consent of the indemnified parties, settle or compromise or consent to the entry of any judgment with respect to any litigation, or any investigation or proceeding by any governmental agency or
body, commenced or threatened, or any claim whatsoever in respect of which indemnification or contribution could be sought under this Section 9 or Section 10 hereof (whether or not the indemnified parties are actual or potential parties thereto),
unless such settlement, compromise or consent (i) includes an unconditional release of each indemnified party from all liability arising out of such litigation, investigation, proceeding or claim and (ii) does not include a statement as to or an
admission of fault, culpability or a failure to act by or on behalf of any indemnified party. 
  
 (d) Settlement without Consent if Failure to Reimburse. If at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel, such
indemnifying party agrees that it shall be liable for any 
  

 16 

 settlement of the nature contemplated by Section 9(a)(ii) effected without its written consent if (i) such settlement is
entered into more than 45 days after receipt by such indemnifying party of the aforesaid request, (ii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into
and (iii) such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such settlement. 
  
 SECTION 10. Contribution. 
  
 If the indemnification provided for in Section 9 hereof is for any reason unavailable to or insufficient to hold harmless an indemnified party in respect
of any losses, liabilities, claims, damages or expenses referred to therein, then each indemnifying party shall contribute to the aggregate amount of such losses, liabilities, claims, damages and expenses incurred by such indemnified party, as
incurred, (i) in such proportion as is appropriate to reflect the relative benefits received by the Issuing Bank, on the one hand, and the applicable Dealer(s), on the other hand, from the offering of the Bank Notes that were the subject of the
claim for indemnification or (ii) if the allocation provided by clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault
of the Issuing Bank, on the one hand, and the applicable Dealer(s), on the other hand, in connection with the statements or omissions which resulted in such losses, liabilities, claims, damages or expenses, as well as any other relevant equitable
considerations. 
  
 The relative benefits received by the Issuing
Bank, on the one hand, and the applicable Dealer(s), on the other hand, in connection with the offering of the Bank Notes that were the subject of the claim for indemnification shall be deemed to be in the same respective proportions as the total
net proceeds from the offering of such Bank Notes (before deducting expenses) received by the Issuing Bank and the total discount or commission received by each applicable Dealer, as the case may be, bears to the aggregate initial offering price of
such Bank Notes. 
  
 The relative fault of the Issuing Bank, on
the one hand, and the applicable Dealer(s), on the other hand, shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact
relates to information supplied by the Issuing Bank or by the applicable Dealer(s) and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 
  
 The Issuing Bank and the Dealers agree that it would not be just and
equitable if contribution pursuant to this Section 10 were determined by pro rata allocation (even if the applicable Dealer(s) were treated as one entity for such purpose) or by any other method of allocation which does not take account of the
equitable considerations referred to above in this Section 10. The aggregate amount of losses, liabilities, claims, damages and expenses incurred by an indemnified party and referred to above in this Section 10 shall be deemed to include any legal
or other expenses reasonably incurred by such indemnified party in investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever
based upon any applicable untrue or alleged untrue statement or omission or alleged omission. 
  

 17 

 Notwithstanding the provisions of this Section 10, (i) no Dealer shall be required to contribute any
amount in excess of the amount by which the total discount or commission received by such Dealer in connection with the offering of the Bank Notes that were the subject of the claim for indemnification exceeds the amount of any damages which such
Dealer has otherwise been required to pay by reason of any applicable untrue or alleged untrue statement or omission or alleged omission and (ii) no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933 Act)
shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. 
  
 For purposes of this Section 10, each person, if any, who controls a Dealer within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act
shall have the same rights to contribution as such Dealer, and each person, if any, who controls the Issuing Bank within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act shall have the same rights to contribution as the
Issuing Bank. The obligations of each of the Dealers and the Issuing Bank under this Section 10 to contribute are several in proportion to the respective purchases or sales made by or through it to which such loss, claim, damage or liability (or
action in respect thereof) relates and are not joint. 
  
 SECTION 11. Representations, Warranties and Agreements to Survive Delivery. 
  
 All representations, warranties and agreements contained in this Agreement, or contained in certificates of officers of the Issuing Bank or the Parent pursuant hereto, shall remain operative and in full force and
effect, regardless of any investigation made by or on behalf of the Dealers or any controlling person of a Dealer, or by or on behalf of the Issuing Bank, and shall survive each delivery of and payment for any of the Bank Notes. 
  
 SECTION 12. Termination. 
  
 (a) Termination of this Agreement. This Agreement (excluding any
agreement hereunder by a Dealer to purchase Bank Notes as principal) may be terminated for any reason, at any time by the Issuing Bank or any of the Dealers, in each case as to itself, immediately upon the giving of 30 days’ written notice of
such termination to the other parties hereto in accordance with the provisions of Section 13 hereof. 
  
 (b) Termination of an Agreement to Purchase Bank Notes as Principal. A Dealer may terminate an agreement hereunder by such Dealer to purchase Bank
Notes as principal, immediately upon notice to the Issuing Bank, at any time prior to the Settlement Date relating thereto: 
  
 (i) if there has been, since the date of such agreement or since the respective dates as of which information is given in the Offering
Circular as it exists immediately prior to such agreement, any material adverse change in the condition, financial or otherwise, business affairs, business prospects or results of operations, or any development reasonably likely to result in a
prospective material adverse change in the condition, financial or otherwise, business affairs, business prospects or results of 
  

 18 

 operations, of the Issuing Bank and its subsidiaries, or of the Parent and its subsidiaries, as the case
may be, considered as one enterprise, whether or not arising in the ordinary course of business; 
  
 (ii) if since the date of any such agreement by such Dealer to purchase Bank Notes, there shall have occurred any material adverse change
in the financial markets in the United States or in international financial markets, or any outbreak or escalation of hostilities, declaration by the United States of a national emergency or war, or other national or international calamity or crisis
the effect of which would, in the judgment of such Dealer, materially prejudice the marketing of the Bank Notes or the enforcement of contracts for the sale of the Bank Notes; 
  
 (iii) if since the date of any such agreement by such Dealer to purchase Bank Notes, trading in any
securities of the Issuing Bank or the Parent shall have been suspended by the SEC or a national securities exchange, or if trading generally on the New York Stock Exchange, the American Stock Exchange or the Chicago Board of Trade shall have been
suspended, or minimum or maximum prices for trading shall have been fixed, or maximum ranges for prices for securities shall have been required, by any of said exchanges or by order of the SEC or any other governmental authority, or a material
disruption has occurred in commercial banking or securities settlement or clearance services in the United States, or if a banking moratorium shall have been declared by federal, New York or Pennsylvania authorities; 
  
 (iv) if the rating assigned by any nationally recognized
statistical rating agency (as defined by the SEC for purposes of Rule 436(g)(2) under the 1933 Act) to any debt securities of the Issuing Bank as of the date of such agreement shall have been lowered since that date or if any such rating agency
shall have publicly announced that it has placed any debt securities of the Issuing Bank or the Parent on what is commonly termed a “watch list” for possible downgrading; or 
  
 (v) if there shall have come to such Dealer’s attention any facts that would cause such Dealer to
believe that the Offering Circular or any amendment thereto or supplement thereof, at the time it was required to be delivered to a purchaser of Bank Notes, contained an untrue statement of a material fact or omitted to state a material fact
necessary in order to make the statements therein, in light of the circumstances existing at the time of such delivery, not misleading. 
  
 (c) General. In the event of any such termination described in Section 12(a) or Section 12(b) hereto, none of the parties will have any liability
to the other parties hereto, except that (i) the Dealers shall be entitled to any commissions earned in accordance with the third paragraph of Section 3(b) hereof, (ii) if at the time of termination (a) a Dealer shall own any Bank Notes purchased
with the intention of reselling them or (b) an offer to purchase any of the Bank Notes has been accepted by the Issuing Bank but the time of delivery to the purchaser or his agent of such Bank Notes relating thereto has not occurred, the covenants
set forth in Sections 4 and 8 hereof shall remain in effect until such Bank Notes are so resold or delivered, as the case may be, and (iii) the provisions of Section 5 hereof, the indemnity and contribution agreements set forth in Sections 9 and 10
hereof, and the provisions of Sections 11, 12(c), 13, 14 and 15 hereof shall remain in effect. 
  

 19 

 SECTION 13. Notices. 
  
 Unless otherwise provided herein, all notices required under the terms and
provisions hereof shall be in writing, either delivered by hand, by mail or by telex, telecopier or telegram, and any such notice shall be effective when received at the address specified below. 
  
 If to the Issuing Bank: 
  
 PNC Bank, National Association 
 One PNC Plaza 
 249 Fifth Avenue 

Tenth Floor 
 Pittsburgh, PA 15222

 Attention: Lisa Kovac, Vice President & Funding Manager 
 Facsimile Number: (412) 762-1728 
 Telephone Number: (412) 762-8400 
  
 If to the Parent: 
  
 The PNC Financial Services Group, Inc. 
 One PNC Plaza 
 Tenth Floor 
 249 Fifth Avenue 
 Pittsburgh, PA 15222

 Attention: Lisa Kovac, Vice President & Funding Manager 
 Facsimile Number: (412) 762-1728 
 Telephone Number: (412) 762-8400 
  
 If to J.P. Morgan Securities Inc.: 
  
 J.P. Morgan Securities Inc. 
 270 Park Avenue 
 9th Floor 
 New York,
NY 10017 
 Attention: Transaction Execution Group 
 Facsimile Number: (212) 834-6702 
  
 lf to any other Dealer: at its notice address(es) specified on Schedule I hereto or at such other address as such party may designate from time to time by notice duly given in accordance with the terms of this Section 13. 
  

 20 

 SECTION 14. Parties. 
  
 This Agreement shall inure to the benefit of and be binding upon the Dealers
and the Issuing Bank and their respective successors. Nothing expressed or mentioned in this Agreement is intended or shall be construed to give any person, firm or corporation, other than the parties hereto and their respective successors and the
controlling persons and officers and directors referred to in Sections 9 and 10 and their heirs and legal representatives, any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision herein or therein
contained. 
  
 This Agreement and all conditions and provisions
hereof are intended to be for the sole and exclusive benefit of the parties hereto and their respective successors and said controlling persons and officers and directors and their heirs and legal representatives, and for the benefit of no other
person, firm or corporation. No purchaser of Bank Notes shall be deemed to be a successor by reason merely of such purchase. Notwithstanding the foregoing, the purchasers referred to in Section 4(i) shall have the rights set forth therein.

  
 SECTION 15. Governing Law. 

 
 This Agreement and all the rights and obligations of the parties shall
be governed by and construed in accordance with the laws of the State of New York, excluding any choice-of-law principles that would otherwise require the application of the law of any other jurisdiction. 
  
 SECTION 16. Counterparts. 
  
 This Agreement may be executed by any one or more of the parties hereto in
any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute one and the same instrument. 
  

 21 

 If the foregoing is in accordance with your understanding of our agreement, please sign and return to the
Dealers thirteen counterparts hereof, whereupon this instrument along with all counterparts will become a binding agreement between the Issuing Bank and each of the Dealers in accordance with its terms. 
  

			
	 Very truly yours,

	
	 PNC BANK, NATIONAL ASSOCIATION

		
	 by
	 	  

	 Name:
	 	 
	 Title:
	 	 

  

 22 

			
	 CONFIRMED AND ACCEPTED,
 as of the date first above written:

	
	 J. P. MORGAN SECURITIES INC.

		
	 by
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	 BARCLAYS CAPITAL INC.

		
	 by
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	 CITIGROUP GLOBAL MARKETS INC.

		
	 by
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	 CREDIT SUISSE FIRST BOSTON LLC

		
	 by
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	 GOLDMAN, SACHS & CO.

		
	 by
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	 HSBC SECURITIES (USA) INC.

		
	 by
	 	  

	 Name:
	 	 
	 Title:
	 	 

  

 23 

			
	 LEHMAN BROTHERS INC.

		
	 by
	 	  

	 Name:
	 	 
	 Title:
	 	 

  
 MERRILL
LYNCH, PIERCE, FENNER & SMITH INCORPORATED 

			
		
	 by
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	 MORGAN STANLEY & CO., INCORPORATED

		
	 by
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	 PNC CAPITAL MARKETS, INC.

		
	 by
	 	  

	 Name:
	 	 
	 Title:
	 	 

  

 24 

 EXHIBIT A 
  
 Form of Pricing Supplement 
  
 The following terms, if applicable, shall be agreed to by the Dealer and the Bank in connection with each sale of Bank Notes: 
  
 Principal Amount:
$             
 Choose One: 
  ̈ Short-Term Senior Bank Note

  ̈ Medium-Term
Senior Bank Note 
  ̈
Subordinated Bank Note 
  
 Interest Rate:

 If Fixed Rate Note: 
  
 Interest Rate: 
 If Floating Rate Note: 
  
 Interest Rate
Basis: 
 Initial Interest Rate: 
 Spread or Spread Multiplier, if any: 
 Interest Reset Date(s): 
 Interest Payment Date(s): 
 Index Maturity: 
 Maximum Interest Rate, if any: 
 Minimum Interest Rate, if any: 
 Interest Reset Period: 
 Interest Payment Period: 
 Calculation Agent: 
  
 If Redeemable: 
  
 Initial Redemption Date: 
 Additional Redemption Dates: 
 Initial Redemption Percentage: 
 Annual Redemption Percentage Reduction: 
  
 If Repayable: 
  
 Optional Repayment Date(s): 
  
 Trade Date: 
 Date of Maturity: 
  
 Purchase Price:
            % 
  
 Discount: 
  

 A-1 

 Commission: 
  
 Settlement Date and Time: 
 Additional Terms: 
  
 Also, in connection with the purchase of Bank Notes by the Dealer, agreement as to whether the following will be required: 
  
 (a) Officers’ Certificates pursuant to Section 8(b) of the Distribution
Agreement. 
  
 (b) Legal Opinions pursuant to Section 8(c) of the
Distribution Agreement. 
  
 (c) Comfort Letter pursuant to
Section 8(d) of the Distribution Agreement. 
  

 A-2 

 EXHIBIT B 
  
 Unless otherwise agreed by the Issuing Bank and a Dealer, as compensation for the services of the Dealers hereunder, the Issuing Bank shall pay the
applicable Dealer, on a discount basis, a commission for the sale of each Bank Note of the Issuing Bank equal to the principal amount of such Bank Note multiplied by the appropriate percentage set forth below of the principal amount of such Bank
Note: 
  

			
	 MATURITY RANGES

	  	 PERCENT OF
 PRINCIPAL AMOUNT

	 From 9 months to less than 1 year
	  	.125
	 From 1 year to less than 18 months
	  	.150
	 From 18 months to less than 2 years
	  	.200
	 From 2 years to less than 3 years
	  	.250
	 From 3 years to less than 4 years
	  	.350
	 From 4 years to less than 5 years
	  	.450
	 From 5 years to less than 6 years
	  	.500
	 From 6 years to less than 7 years
	  	.550
	 From 7 years to less than 10 years
	  	.600
	 From 10 years to less than 15 years
	  	.625
	 From 15 years to less than 20 years
	  	.700
	 From 20 years to less than 30 years
	  	.750
	 From 30 years to 50 years
	  	as agreed

  

 B-1 

 EXHIBIT C-1 
  
 OPINION OF INTERNAL COUNSEL TO THE ISSUING BANK AND THE PARENT 
  
 Pursuant to Section 6(a)(i) (and to the extent required by Sections 3(a) and 8(c)) of the Distribution Agreement, internal counsel to the Issuing Bank
shall furnish to the Dealers an opinion, to the effect that: 
  
 Upon the basis
of the foregoing, it is my opinion that: 
  
 (i)
The Issuing Bank is a national banking association duly organized, validly existing and in good standing under the laws of the United States, the Parent is a corporation and a financial holding company duly organized, validly existing, and in good
standing under the laws of the Commonwealth of Pennsylvania and each of the Issuing Bank and the Parent is licensed, registered or qualified to conduct the business in which it is engaged in each jurisdiction in which the conduct of its business or
its ownership or leasing of property requires such license, registration or qualification, except to the extent that the failure to be so licensed, registered or qualified or to be in good standing would not have a material adverse effect on the
Issuing Bank and its subsidiaries taken as a whole or the Parent and its subsidiaries taken as a whole, as the case may be. The Issuing Bank is a wholly owned direct or indirect subsidiary of the Parent, a Pennsylvania corporation and financial
holding company which has securities registered under the Securities Act of 1933, as amended (the “1933 Act”). 
  
 (ii) The Distribution Agreement and the Agency Agreement have been duly authorized, executed and delivered by the Issuing Bank and are
valid and legally binding agreements of the Issuing Bank, enforceable in accordance with their respective terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating
to, or affecting, the rights of creditors of national banking associations, including laws relating to conservatorship and receivership of insured depository institutions, and general equity principles and except as rights under the Distribution
Agreement and the Agency Agreement to indemnity and contribution may be limited by federal or state laws. 
  
 (iii) The Bank Notes have been duly authorized and, when issued and authenticated against payment of the consideration therefore in
accordance with the provisions of the Agency Agreement and the Distribution Agreement, will be valid and binding obligations of the Issuing Bank, enforceable in accordance with their respective terms, subject to bankruptcy, insolvency, fraudulent
transfer, reorganization, moratorium and similar laws of general applicability relating to, or affecting, the rights of creditors of national banking associations, including laws relating to conservatorship and receivership of insured depository
institutions, and general equity principles. 
  

 C-1-1 

 (iv) Assuming that Bank Notes are both (a) offered and sold in minimum denominations of
$250,000 only to persons who are “accredited investors”, as defined in Rule 501(a) under the 1993 Act, and (b) purchasers receive an Offering Circular, excluding the documents incorporated by reference therein, as required by Section
16.6(a) of Part 16, then such Bank Notes will comply with Part 16 by virtue of Section 16.6(a). 
  
 (v) The Bank Notes are exempt from registration under Section 3(a)(2) of the 1933 Act. Neither registration of the Bank Notes under the
1933 Act nor qualification of an indenture under the Trust Indenture Act of 1939, as amended, will be required in connection with the offer, sale, issuance or delivery of such Bank Notes pursuant to the Distribution Agreement or any applicable
agreement by a Dealer party to the Distribution Agreement to purchase the Bank Notes as principal. 
  
 (vi) The Issuing Bank is not required to register under the provisions of the Investment Company Act of 1940, as amended (the
“Investment Company Act”), or to take any other action with respect to or under the Investment Company Act. 
  
 (vii) No consent, approval or authorization of or filing with any governmental body or agency is required for the performance by the
Issuing Bank of any obligation under the Distribution Agreement, the Bank Notes, the Agency Agreement and any applicable agreement by a Dealer party to the Distribution Agreement to purchase the Bank Notes as principal, except such as have been
obtained or will be obtained prior thereto and except such as may be required by the securities or Blue Sky laws of the various states in connection with the offer and sale of the Bank Notes. 
  
 (viii) The Senior Notes are unsecured and unsubordinated
debt obligations of the Issuing Bank and rank pari passu among themselves and with all other unsecured and unsubordinated debt obligations of the Issuing Bank except, pursuant to Section 11(d)(11) of the Federal Deposit Insurance Act,
the Issuing Bank’s unsecured deposit liabilities; the Subordinated Notes are unsecured and subordinated debt obligations and rank pari passu among themselves and with all other debt obligations of the Issuing Bank which are
subordinate and junior in right of payment to the Issuing Bank’s obligations to depositors and general creditors, other than obligations which, by their express terms, rank junior to such Subordinated Notes. 
  
 (ix) Neither the Issuing Bank or any of its subsidiaries nor
the Parent or any of its subsidiaries is in violation of their charters or articles or certificates of incorporation or, to my knowledge is, in default in the performance or observance of any material obligation, agreement, covenant or condition
contained in any contract, indenture, mortgage loan agreement, note, lease or other instrument to 
  

 C-1-2 

 which it is a party or by which it or any of them or their properties may be bound. The execution,
issuance and delivery by the Issuing Bank of the Bank Notes, the execution, delivery and performance by the Issuing Bank of the Distribution Agreement, the Agency Agreement and any agreement by a Dealer party to the Distribution Agreement to
purchase the Bank Notes as principal, and the execution, delivery and performance by the Parent of the Representations Certificate, will not violate in any material respect, any law, rule or regulation or will not violate any order, judgment or
decree known to me, applicable to the Parent and its subsidiaries or to the Issuing Bank and its subsidiaries or violate any provision of the Issuing Bank’s or the Parent’s By-laws or Articles of Association or Articles of Incorporation,
as the case may be or, to my knowledge, conflict with or result in a breach of or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Parent and its subsidiaries
or the Issuing Bank and its subsidiaries pursuant to any material contract, indenture, mortgage loan agreement, note, lease or other instrument to which the Parent or any of its subsidiaries or the Issuing Bank or any of its subsidiaries, or the
property of any of them, is bound or subject. 
  
 (x) Except as may be set forth in the Offering Circular, or in the documents incorporated therein by reference, there is no action, suit or proceeding before or by any court or governmental agency or body, domestic or foreign, now known to
me to be pending, or, to my knowledge, threatened against or affecting, the Parent or any of its subsidiaries or the Issuing Bank or any of its subsidiaries, which would be required to be disclosed in the Offering Circular by the Parent or any of
its subsidiaries or the Issuing Bank or any of its subsidiaries if the Bank Notes were required to be registered with the SEC on Form S-1 under the 1933 Act, or which might materially and adversely affect the consummation of this Agreement, the
Agency Agreement or any transaction contemplated hereby or thereby. 
  
 (xi) The Representations Certificate has been duly authorized, executed and delivered by a duly authorized officer of the Parent. 
  
 (xii) Nothing has come to my attention that would lead me to believe that the Offering Circular contains any
untrue statement of a material fact or omits to state any material fact necessary in order to make the statements made therein, in light of the circumstances under which they were made, not misleading. 
  

 C-1-3 

 EXHIBIT C-2 
  
 OPINION OF EXTERNAL COUNSEL TO THE ISSUING BANK AND THE PARENT 
  
 Pursuant to Section 6(a)(i) (and to the extent required by Sections 3(a) and 8(c)) of the Distribution Agreement, external counsel to the Issuing Bank
shall furnish to the Dealers an opinion, with respect to the Issuing Bank, to the effect that: 
  
 (i) Assuming the Distribution Agreement and the Agency Agreement have been duly authorized, executed and delivered by the Issuing Bank,
they are valid and legally binding agreements of the Issuing Bank, enforceable in accordance with their respective terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability
relating to, or affecting, the rights of creditors of national banking associations, including laws relating to conservatorship and receivership of insured depository institutions, and general equity principles and except as rights under the
Distribution Agreement and the Agency Agreement to indemnity and contribution may be limited by federal or state laws. 
  
 (ii) Assuming the Bank Notes have been duly authorized and issued and authenticated against payment of the consideration therefor in
accordance with the provisions of the Agency Agreement and the Distribution Agreement, then the Bank Notes will be valid and binding obligations of the Issuing Bank, enforceable in accordance with their respective terms, subject to bankruptcy,
insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to, or affecting, the rights of creditors of national banking associations, including laws relating to conservatorship and receivership of
insured depository institutions, and general equity principles. 
  
 (iii) Assuming that Bank Notes are both (a) offered and sold in minimum denominations of $250,000 only to persons who are “accredited investors”, as defined in Rule 501(a) under the 1933 Act, and (b)
purchasers receive an Offering Circular, excluding the documents incorporated by reference therein, as required by Section 16.6(a) of Part 16, then such Bank Notes will comply with Part 16 by virtue of Section 16.6(a). 
  
 (iv) The Bank Notes are exempt from registration under
Section 3(a)(2) of the 1933 Act. Neither registration of the Bank Notes under the 1933 Act nor qualification of an indenture under the Trust Indenture Act of 1939, as amended, will be required in connection with the offer, sale, issuance or delivery
of such Bank Notes pursuant to the Distribution Agreement or any applicable agreement by a Dealer party to the Distribution Agreement to purchase the Bank Notes as principal. 
  
 (v) The Bank Notes conform to the description thereof contained in the Offering Circular under the caption
“Description of Notes”. 
  

 C-2-1 

 (vi) The Senior Notes are unsecured and unsubordinated debt obligations of the Issuing
Bank and rank pari passu among themselves and with all other unsecured and unsubordinated debt obligations of the Issuing Bank except, pursuant to Section 11(d)(11) of the Federal Deposit Insurance Act, the Issuing Bank’s
unsecured deposit liabilities; the Subordinated Notes are unsecured and subordinated debt obligations and rank pari passu among themselves and with all other debt obligations of the Issuing Bank which are subordinate and junior in
right of payment to the Issuing Bank’s obligations to depositors and general creditors, other than obligations which, by their express terms, rank junior to such Subordinated Notes. 
  
 (vii) Nothing has come to our attention that would lead us to believe that the Offering Circular (other than
financial statements and other financial data included therein, as to which we express no opinion) contains any untrue statement of a material fact or omits to state any material fact necessary in order to make the statements made therein, in light
of the circumstances under which they were made, not misleading. 
  

 C-2-2 

 EXHIBIT D 
  
 ISSUING BANK 
  
 OFFICERS’ CERTIFICATE 
  
 Pursuant to Section 6(b) of the Distribution Agreement, dated July 30, 2004, (the “Distribution Agreement”), among PNC Bank, National Association (the “Issuing Bank”), J.P. Morgan Securities Inc.
and each of the other Dealers listed on Schedule I thereto, each undersigned officer hereby certifies, on behalf of the Issuing Bank, that: 
  
 (i) since the respective dates as of which information is given in the Offering Circular, there has not been any material adverse change
in the condition, financial or otherwise, business affairs, business prospects or results of operations, or any development reasonably likely to result in a prospective material adverse change in the financial condition or results of operations, of
the Issuing Bank and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business, other than as set forth or contemplated in the Offering Circular; 
  
 (ii) the representations and warranties of the Issuing Bank
contained in Section 2 of the Distribution Agreement are true and correct with the same force and effect as though expressly made at and as of the date hereof except for those representations and warranties that expressly relate to an earlier date,
which are true and correct as of such date; and 
  
 (iii) the Issuing Bank has performed or complied with all agreements and satisfied all conditions on its part to be performed or satisfied pursuant to the Distribution Agreement at or prior to the date hereof. 
  
 For the purpose hereof, capitalized terms used herein which have been defined
in the Distribution Agreement shall have the meanings ascribed to them in the Distribution Agreement. 
  

 D-1 

 IN WITNESS WHEREOF, this certificate has been executed and delivered this      day of
            . 
  

			
	 PNC BANK, NATIONAL ASSOCIATION

		
	 by
	 	  

	 Name:
	 	 
	 Title:
	 	 

  

 D-2 

 EXHIBIT E 
  
 THE PNC FINANCIAL SERVICES GROUP, INC. 
  
 REPRESENTATIONS CERTIFICATE 
  
 Pursuant to Section 6(c) of the Distribution Agreement, dated July 30, 2004 (the “Distribution Agreement”), among PNC Bank, National Association
(the “Issuing Bank”), J.P. Morgan Securities Inc. and each of the other dealers listed on Schedule I thereto (collectively, the “Dealers”), each undersigned officer of The PNC Financial Services Group, Inc. (the
“Parent”), hereby represents and warrants on behalf of the Parent to each Dealer as of the date hereof, as of each time that there is filed with the Securities and Exchange Commission (the “SEC”) any document relating to the
Parent incorporated by reference in the Offering Circular, as of the date of each acceptance by the Issuing Bank of an offer for the purchase of Bank Notes (whether through such Dealer as agent or to such Dealer as principal), as of each applicable
Settlement Date and as of each applicable Representation Date as follows: 
  
 (i) Authorization To Incorporate by Reference. The Parent has authorized the Issuing Bank to incorporate by reference in the Offering Circular the Parent’s annual reports on Form 10-K, quarterly reports on
Form 10-Q and current reports on Form 8-K (and any and all amendments or supplements thereto) filed by the Parent with the SEC pursuant to the Securities Exchange Act of 1934 (the “1934 Act”) and the rules and regulations thereunder (the
“Incorporated Documents”). 
  
 (ii)
Incorporated Documents. The Incorporated Documents, at the time they were or hereafter are filed with the SEC, complied or when so filed will comply, as the case may be, with the requirements of the 1934 Act and the rules and regulations
promulgated thereunder, and, when read together with the other information in the Offering Circular, did not and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in
order to make the statements therein, in the light of the circumstances under which they were or are made, not misleading. 
  
 (iii) Financial Statements. The financial statements and other financial information of the Parent and its consolidated
subsidiaries included or incorporated by reference in the Offering Circular present fairly or will present fairly, as the case may be, the consolidated financial condition of the Parent and its consolidated subsidiaries as of the dates indicated
therein and the consolidated results of their operations for the periods specified therein; and such financial statements have been prepared and will be prepared, as the case may be, in conformity with generally accepted accounting principles in the
United States. 
  
 (iv) Due Organization,
Valid Existence and Good Standing. The Parent is a corporation duly organized, validly existing and in good standing under the laws of the State of Pennsylvania, and is licensed, registered or 
  

 E-1 

 qualified to conduct the business in which it is engaged in each jurisdiction in which the conduct of its
business or its ownership or leasing of property requires such license, registration or qualification and where the failure to be so licensed, registered or qualified might reasonably be expected to materially adversely affect its business.

  
 (v) No Material Adverse Change. Since
the respective dates as of which information is given in the Offering Circular, there has not been any material adverse change in the condition, financial or otherwise, business affairs, business prospects or results of operations, or any
development that could be expected to result in a prospective material adverse change in the condition, financial or otherwise, business affairs, business prospects or results of operations, of the Parent and its subsidiaries considered as one
enterprise whether or not arising in the ordinary course of business, other than as set forth or contemplated in the Offering Circular (including the Incorporated Documents). 
  
 In addition, to induce the Dealers to enter into the Distribution Agreement, the Parent agrees to indemnify and hold
harmless each Dealer and each person, if any, who controls each Dealer within the meaning of Section 15 of the Securities Act of 1933, as amended, or Section 20 of the 1934 Act (each, a “Controlling Person”) to the same extent and upon the
same terms that the Issuing Bank agrees to indemnify and hold harmless each Dealer and each such Controlling Person in Section 9 of the Distribution Agreement and to contribute to the payment of any losses, liabilities, claims, damages or expenses
incurred by each Dealer or each such Controlling Person to the same extent and upon the same terms that the Issuing Bank agrees to contribute in Section 10 of the Distribution Agreement. 
  
 All representations and warranties contained in this certificate shall remain operative and in full force and effect,
regardless of any investigation made by or on behalf of the Dealers or any controlling person of the Dealers, or by or on behalf of the Parent and, shall survive each delivery of and payment for any of the Bank Notes. 
  
 For the purpose hereof, capitalized terms used herein which have been defined
in the Distribution Agreement shall have the meanings ascribed to them in the Distribution Agreement. 
  

 E-2 

 IN WITNESS WHEREOF, this certificate has been executed and delivered on behalf of the Parent this
     day of                 . 
  

			
	 THE PNC FINANCIAL SERVICES GROUP, INC.

		
	 by
	 	  

	 Name:
	 	 
	 Title:
	 	 

  

 E-3 

 EXHIBIT F-1 
  
 PNC BANK, NATIONAL ASSOCIATION 
  
 Bank Notes with Maturities of 
 More
than Nine Months from Date of Issue 
  
 Dealer
Agreement 
  
 [date] 
  
 [Name of Dealer] 
 [Address of Dealer] 
  
 Dear Sirs: 
  
 Reference is made to the Distribution Agreement (including the exhibits
thereto) dated, as of July 30, 2004 (the “Distribution Agreement”), among PNC Bank, National Association (the “Issuing Bank”), a bank organized under the laws of the United States, J.P. Morgan Securities Inc. and each of the
other Dealers listed on Schedule I thereto with respect to the issue and sale by the Issuing Bank of the Bank Notes (as such term is defined in the Distribution Agreement). A conformed copy of the Distribution Agreement has been attached hereto as
Annex A. 
  
 WHEREAS the Issuing Bank is permitted under the terms
of the Distribution Agreement to appoint additional dealers for the purpose of soliciting purchases of the Bank Notes upon such terms as the Issuing Bank and such dealers may agree; and 
  
 WHEREAS [Name of dealer] and the Issuing Bank wish to enter into an agreement appointing [Name of Dealer] as an additional
dealer with respect to the Bank Notes. 
  
 NOW, THEREFORE, in
consideration of the mutual agreements set forth herein, the Issuing Bank hereby agrees that [Name of Dealer] shall become an additional Dealer (as defined herein) with respect to the Bank Notes and [Name of Dealer] hereby agrees to become a Dealer
with respect to the Bank Notes and to be bound by the terms and conditions of the Distribution Agreement, which terms and conditions are hereby incorporated by reference herein except that the terms “Dealer” and “Dealers” shall
instead mean or include [Name of Dealer]. No person other than [Name of Dealer] shall be deemed to be a Dealer under this Agreement. 
  
 This Agreement may be signed in counterparts, each of which shall be deemed an original, which taken together shall constitute one and the same
instrument. 
  

 F-1-1 

 If the foregoing is in accordance with your understanding of our agreement please sign and return to us
the enclosed duplicate hereof, whereupon this letter, including Annex A, and your acceptance shall represent a binding agreement between you and the Issuing Bank in accordance with its terms. 
  

			
	 Very truly yours,

	
	 PNC BANK, NATIONAL ASSOCIATION

		
	 by
	 	  

	 Name:
	 	 
	 Title:
	 	 

  

			
	 The foregoing Agreement is
 hereby confirmed and accepted
 as of the date first above
 written.
  
 [Name of Dealer]

		
	 by
	 	  

	 Name:
	 	 
	 Title:
	 	 

  

 F-1-2 

 EXHIBIT F-2 
  
 FORM OF SYNDICATED TERMS AGREEMENT 
  
 [Date] 
  
 To: The Dealers Listed on Annex 1 Hereto 
  

			
	In care
of                                        
            	 	                                        
     ,(the “Lead Dealer”)

  
 PNC Bank, National
Association (the “Issuer”) 
 U.S.$20,000,000,000 Global Bank Note Program 
  
 Ladies and Gentlemen: 
  
 Subject to the terms and conditions of the Distribution Agreement, dated July 30, 2004, among the Issuer, J.P. Morgan
Securities Inc. and the other dealers listed on Schedule I thereto (together with the dealers named in Annex 1 hereto, the “Dealers”) concerning the sale of Bank Notes to be issued by the Issuer, as amended or supplemented (the
“Distribution Agreement”), the dealers named in Annex 1 hereto agree to purchase on a syndicated basis the Bank Notes            due of the Issuer (the “Notes”),
described in the Pricing Supplement attached as Annex 2 hereto, on the terms set out in such Pricing Supplement and on the terms set out below. Unless otherwise defined herein, all terms used herein have the meanings given to them in the
Distribution Agreement. 
  
 1. Subject to the terms and conditions
of the Distribution Agreement and this Agreement, the Issuer hereby agrees to issue the Notes, and the Dealers severally agree to purchase the Notes at the purchase price of    % per Note (being equal to the issue price
of    % of the principal amount less a management and underwriting fee of % of the principal amount and a selling concession of    % of the principal amount). 
  
 2. The purchase price specified above will be paid by the Lead Dealer on
behalf of the Dealers by wire transfer in immediately available funds to the Issuer at [        time] on            , or at such other time and/or
date as the Issuer and the Lead Dealer on behalf of the Dealers may agree (the “Settlement Time”) against delivery of the Notes to or upon your order in the manner contemplated in the Distribution Agreement and the Agency Agreement.

  
 3. The Dealers’ obligations hereunder are conditioned on
(a) the receipt of: (i) opinions of counsel described in Section 6(a) of the Distribution Agreement, dated as of the Settlement Time, (ii) a “comfort letter” described in Section 6(d) of the Distribution Agreement, dated as of the
Settlement Time, (iii) the officers’ certificates described in Section 6(b) of the Distribution Agreement, dated as of the Settlement Time; (b) since the date of this Agreement, there having not occurred, in the opinion of the 
  

 F-2-1 

 Dealers, a change in financial, political or economic conditions as would be likely to prejudice materially the sale by
the Dealers of the Notes; and (c) such other opinions, certificates and documents as may be agreed by the Issuer and the Dealers on or prior to the date of this Agreement. 
  
 4. The Issuer hereby appoints each Dealer party hereto which is not a party to the Distribution Agreement (each a “New
Dealer”) as a Dealer under the Distribution Agreement solely for the purposes of the issue of the Notes (the “Issue”), pursuant to Section 1(a) of the Distribution Agreement. Each such New Dealer shall be vested, in relation to the
Issue, with all authority, rights, powers, duties and obligations of a Dealer purchasing Bank Notes pursuant to the Distribution Agreement, as if originally named as a Dealer under the Distribution Agreement. 
  
 In consideration of the Issuer appointing each New Dealer as a Dealer with
respect to the Issue, each New Dealer hereby undertakes for the benefit of the Issuer and each of the other Dealers, that, in relation to the Issue it will perform and comply with all of the duties and obligations expressed to be assumed by a Dealer
under the Distribution Agreement, a copy of which it acknowledges it has received. 
  
 Each New Dealer acknowledges that such appointment is limited to the Issue and is not for any other issue of Bank Notes of the Issuer pursuant to the Distribution Agreement and that such appointment will terminate
upon issue of the Bank Notes comprising the Issue but without prejudice to any rights, duties or obligations which have arisen prior to such termination. 
  
 For the purposes hereof, the notice details of each New Dealer are as follows (insert name, address, telephone, telecopy and attention): 
  
 [insert notice details] 
  
 This Agreement is a Syndicated Terms Agreement referred to in the
Distribution Agreement and shall be governed by and construed in accordance with the law of the State of New York, without regard to conflicts of law principles. 
  

			
	 Very truly yours,

	
	 [DEALERS] [NEW DEALERS],

		
	 by
	 	  

	 Name:
	 	 
	 Title:
	 	 

  

 F-2-2 

			
	 Accepted: [Date]
  
 PNC BANK, NATIONAL ASSOCIATION

		
	 by
	 	  

	 Name:
	 	 
	 Title:
	 	 

  

 F-2-3 

 ANNEX 1 
  

			
	 DEALER

	  	 PRINCIPAL AMOUNT
 OF NOTES

		
	  
 TOTAL
	  	 
	 	  	

  

 F-2-4 

 ANNEX 2 
  
 [ATTACH PRICING SUPPLEMENT] 
  

 F-2-5 

 EXHIBIT G 
  
 SELLING RESTRICTIONS 
  
 The Issuing Bank and each Dealer will, in connection with the offering of the Bank Notes, comply with the restrictions on the offering of Bank Notes and
distribution of documents relating thereto set forth below and/or such other restrictions agreed to by the Issuing Bank and such Dealer. Capitalized terms used below but not defined herein have the meanings ascribed to them in the Offering Circular.

  
 General 
  
 No action has been taken by the Issuing Bank that would permit a public
offering of the Bank Notes or possession or distribution of the Offering Circular or any other offering material in any jurisdiction where action for that purpose is required. Accordingly, each Dealer has agreed, and each other dealer will be
required to agree, that it will comply, to the best of its knowledge in good faith and on reasonable grounds after making all reasonable investigations, with all applicable laws and regulations in force in any jurisdiction in which it purchases,
offers or sells Bank Notes or possesses or distributes the Offering Circular or any other offering material and will obtain any consent, approval or permission required by it for the purchase, offer or sale by it of Bank Notes under the laws and
regulations in force in any jurisdiction to which it is subject or in which it makes such purchases, offers or sales and neither the Issuing Bank nor any other Dealer shall have any responsibility therefor. 
  
 With regard to each Bank Note, the relevant purchaser will be required to
comply with such restrictions as the Issuing Bank and the relevant purchaser shall agree and as shall be set out in the Offering Circular and applicable Pricing Supplement. 
  
 The Bank Notes have not been, and are not required to be, registered with the SEC under the 1933 Act. The Bank Notes are
being offered and sold pursuant to exemptions from registration with the OCC set forth in Part 16. To qualify for these exemptions from registration with the OCC, among other things, the Bank Notes must be offered and sold only to investors that are
“accredited investors” (as defined in Rule 501(a) pursuant to the 1933 Act) and must be sold in minimum denominations of US$250,000 or the equivalent thereof in other currencies (and not be exchangeable for Bank Notes in smaller
denominations). Each Dealer has severally agreed, and each other distribution dealer shall be required to agree, with the Issuing Bank that in any initial offering hereunder, in relation to Bank Notes to be issued and sold in reliance upon Section
16.6(a) of Part 16, such Dealer, and such other dealer, shall only offer and sell Bank Notes to, or accept offers to purchase Bank Notes from, persons it reasonably believes are accredited investors (as defined in Rule 501(a) under the Securities
Act) in minimum denominations of not less than US$250,000. 
  

 G-1 

 EXHIBIT H 
  
 ADMINISTRATIVE PROCEDURES 
 FOR FIXED RATE AND
FLOATING RATE 
 SENIOR AND SUBORDINATED BANK NOTES 
 With maturities of more than nine months 
 (Dated as of July 30, 2004) 
  
 Short-Term Senior Bank Notes (“Short-Term Senior Notes”),
Medium-Term Senior Bank Notes (“Medium-Term Senior Notes,” and together with the Short-Term Senior Notes, the “Senior Notes”) and Subordinated Bank Notes (the “Subordinated Notes,” and together with the Senior Notes,
the “Notes”) are to be offered from time to time for sale by PNC Bank, National Association, a banking association chartered under the laws of the United States, through each of J.P. Morgan Securities Inc., Barclays Capital Inc., Citigroup
Global Markets Inc., Credit Suisse First Boston LLC, Goldman, Sachs & Co., HSBC Securities (USA) Inc., Lehman Brothers Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. Incorporated and PNC Capital Markets,
Inc. who, as dealers (each, a “Dealer” and, collectively, the “Dealers”), will purchase the Notes as principal from the Issuing Bank for resale to investors and other purchasers at varying prices relating to prevailing market
prices at the time of resale as determined by the applicable Dealer or, if so specified in the applicable Pricing Supplement, for resale at a fixed public offering price. If agreed to by the Issuing Bank and the applicable Dealer, such Dealer may
utilize its reasonable efforts on an agency basis to solicit offers to purchase the Notes at 100% of the principal amount thereof. Only those provisions in these Administrative Procedures that are applicable to the particular role that a Dealer will
perform shall apply. 
  
 The Notes are being sold pursuant to a
distribution agreement (the “Distribution Agreement”), dated July 30, 2004, between the Issuing Bank and the Dealers. The Distribution Agreement provides both for the sale of Notes by the Issuing Bank to the Dealers as principal for resale
to investors and other purchasers and for the sale of Notes by the Issuing Bank through the Dealers as agents and not as principal, in which case the Dealers will act as agents of the Issuing Bank in soliciting Note purchases. The Notes will be
issued pursuant to an issuing and paying agency agreement (the “Issuing and Paying Agency Agreement”), dated as of July 30, 2004, between the Issuing Bank, as issuer, and PNC Bank, National Association, as issuing and paying agent (the
“Issuing and Paying Agent”). As used herein, the term “Offering Circular” refers to the most recent offering circular, as such document may be amended or supplemented, which has been prepared by the Issuing Bank for use by the
Dealers in connection with the offering of the Notes. 
  
 The
Notes will be issued in book-entry form (each beneficial interest in a global Note, a “Book-Entry Note” and collectively, the “Book-Entry Notes”) and represented by one or more fully registered global Notes (each, a “Global
Note” and collectively, the “Global Notes”) delivered to the Issuing and Paying Agent, as agent for The Depository Trust Company, as depositary (“DTC,” which term includes any 
  

 H-1 

 successor thereof), and recorded in the book-entry system maintained by DTC. Book-Entry Notes represented by a Global
Note are exchangeable for definitive Notes in registered form, of like tenor and of an equal aggregate principal amount, by the owners of such Book-Entry Notes only upon certain limited circumstances described in the Offering Circular and the
applicable Global Note. 
  
 In connection with the qualification
of Book-Entry Notes for eligibility in the book-entry system maintained by DTC, the Issuing and Paying Agent will perform the custodial, document control and administrative functions described below, in accordance with its respective obligations
under the Letters of Representations from the Issuing Bank and the Issuing and Paying Agent to DTC, dated July 30, 2004 and a Certificate Agreement, dated August 19, 1996, as amended on July 30, 2004, between the Issuing and Paying Agent and DTC
(the “Certificate Agreement”), and its obligations as a participant in DTC, including DTC’s Same-Day Funds Settlement System (“SDFS”). 
  

Capitalized terms used herein that are not otherwise defined shall have the meanings ascribed thereto in the Notes. 
  

			
	Date of Issuance/Authentication:	 	Each Note will be dated as of the date of its authentication by the Issuing and Paying Agent. Each Note shall also bear an original issue date (the “Original Issue Date”), which
shall be the settlement date for such Note. The Original Issue Date shall remain the same for all Notes subsequently issued upon transfer, exchange or substitution of an original Note regardless of their dates of authentication.
		
	Maturities:	 	Each Short-Term Senior Note will mature on a date (the “Maturity Date”) selected by the purchaser and agreed to by the Issuing Bank which is more than nine months and not more than
one year from its Original Issue Date, as selected by the initial purchaser and agreed to by the Issuing Bank; each Medium-Term Senior Note will have a Maturity Date selected by the purchaser and agreed to by the Issuing Bank which is more than one
year from its Original Issue Date; and each Subordinated Note will have a Maturity Date selected by the purchaser and agreed to by the Issuing Bank which is five years or more from its Original Issue Date.
		
	Registration:	 	Notes will be issued only in fully registered form.
		
	Calculation of Interest:	 	Unless otherwise specified therein and in the applicable Pricing Supplement, interest (including

  

 H-2 

			
	 	 	payments for partial periods) on Fixed Rate Notes having maturities of greater than one year will be computed and paid semi-annually on the basis of a 360-day year of twelve 30-day months.
Unless otherwise specified therein and in the applicable Pricing Supplement, interest on Fixed Rate Notes having maturities of one year or less will be computed on the basis of the actual number of days in the year divided by 360 and will be payable
only at maturity. Unless otherwise specified therein and in the applicable Pricing Supplement, interest on Floating Rate Notes will be calculated and paid on the basis of the actual number of days in the year divided by 360 in the case of Commercial
Paper Rate Notes, LIBOR Notes, Federal Funds Rate Notes and Prime Rate Notes, and by the actual number of days in the year divided by 365 or 366, as the case may be, in the case of CMT Rate Notes and Treasury Rate Notes.
		
	Redemption/Repayment:	 	The Notes will be subject to redemption by the Issuing Bank on and after their respective Initial Redemption Dates, if any; provided, further, that so long as required under
then applicable law (including without limitation, applicable capital regulations), Subordinated Notes may not be redeemed by the Issuing Bank prior to their Maturity Date without the prior written approval of the Office of the Comptroller of the
Currency (the “OCC”). Initial Redemption Dates, if any, will be fixed at the time of sale and set forth in the applicable Pricing Supplement and in the applicable Note. If no Initial Redemption Dates are indicated with respect to a Note,
such Note will not be redeemable prior to its Maturity Date.
		
	 	 	The Notes will be subject to repayment at the option of the holders thereof in accordance with the terms of the Notes on their respective Holder’s Optional Repayment Dates, if any;
provided, further, that so long as required under then applicable law (including without limitation, applicable capital regulations), Subordinated Notes which are subject to repayment may not be repaid at the option of the holder,
in

  

 H-3 

			
	 	 	whole or in part, prior to their Maturity Date without the prior written approval of the OCC. Holder’s Optional Repayment Dates, if any, will be fixed at the time of sale and set forth
in the applicable Pricing Supplement and in the applicable Note, and in the case of a Subordinated Note, will not be earlier than five years after the Original Issue Date of such Subordinated Note. If no Holder’s Optional Repayment Dates are
indicated with respect to a Note, such Note will not be repayable at the option of the holder prior to its Maturity Date.
		
	 Acceptance and Rejection
 of Offers:
	 	When the Dealer is soliciting offers to purchase the Notes, the Issuing Bank shall have the sole right to accept offers to purchase Notes and may reject any such offer, in whole or in part.
Each Dealer shall promptly communicate to the Issuing Bank, orally, each offer to purchase Notes solicited by such Dealer on an agency basis, other than those offers rejected by the Dealer. Each Dealer shall have the right, without notice to the
Issuing Bank, to reject any proposed purchase of Notes through it, in whole or in part.
		
	Preparation of Pricing Supplement:	 	If any offer to purchase a Note is accepted by the Issuing Bank, the Issuing Bank, with the approval of the Dealer which presented such offer (the “Presenting Dealer”), will prepare
a Pricing Supplement reflecting the terms of such Note.
		
	 Procedure for Changing Rates
 or Other Variable
Terms:
	 	  
 When the Dealers are soliciting offers to purchase the Notes from the
Issuing Bank and a decision has been reached to change the interest rate or any other variable term on any Notes being sold by the Issuing Bank, the Issuing Bank will promptly advise the Dealers and the Dealers will forthwith suspend solicitation of
offers to purchase such Notes. The Dealers will telephone the Issuing Bank with recommendations as to the changed interest rates or other variable terms. At such time as the Issuing Bank advises the Dealers of the new interest rates or other
variable terms, the Dealers may resume solicitation of offers to purchase such Notes. Until

  

 H-4 

			
	 	 	such time, only “indications of interest” may be recorded. Immediately after acceptance by the Issuing Bank of an offer to purchase at a new interest rate or new variable term, the
Issuing Bank and the Presenting Dealer shall follow the procedures set forth under the applicable “Settlement Procedures.”
		
	 Suspension of Solicitation;
 Amendment or
Supplement:
	 	While the Dealers are soliciting offers to purchase Notes from the Issuing Bank, the Issuing Bank may instruct the Dealers to suspend solicitation of offers to purchase Notes at any time.
Upon receipt of such instructions, the Dealers will forthwith suspend solicitation of offers to purchase Notes from the Issuing Bank until such time as the Issuing Bank has advised them that solicitation of offers to purchase may be resumed. If the
Issuing Bank decides to amend the Offering Circular (including incorporating any documents by reference therein) or supplement any of such documents (other than to change rates or other variable terms), it will immediately notify, with confirmation
in writing to follow, the Dealers and will furnish the Dealers and their counsel with copies of the proposed amendment (including any document proposed to be incorporated by reference therein) or supplement; provided, however, that the Issuing Bank
shall be required to provide such notice and copies only to the extent that it is required to do so pursuant to the terms of the Distribution Agreement. One copy of such proposed amendment or supplement will be delivered or mailed to the Dealers at
the respective addresses set forth in Schedule I to the Distribution Agreement
		
	 	 	In the event that at the time the solicitation of offers to purchase Notes from the Issuing Bank is suspended (other than to change interest rates, maturities, prices or other similar
variable terms with respect to the Notes) there shall be any offers to purchase Notes that have been accepted by the Issuing Bank which have not been settled, the Issuing Bank will promptly advise the Dealers whether such offers may be settled and
whether copies of the Offering Circular, as theretofore amended and/or supplemented, as in

  

 H-5 

			
	 	 	effect at the time of such suspension may be delivered in connection with the settlement of such orders. The Issuing Bank will have the sole responsibility for such decision and for any
arrangements which may be made in the event that the Issuing Bank determines that such orders may not be settled or that copies of such Offering Circular may not be so delivered.
		
	Delivery of Offering Circular:	 	A copy of the most recent Offering Circular and Pricing Supplement must accompany or precede the earlier of (a) the written confirmation of a sale sent to a customer or his agent and (b) the
delivery of Notes to a customer or his agent. The Issuing Bank will provide Offering Circulars to the Dealers and the Dealers will forward Offering Circulars to their customers or their customers’ agents.
		
	Authenticity of Signatures:	 	The Dealers will have no obligations or liability to the Issuing Bank or the Issuing and Paying Agent in respect of the authenticity of the signature of any officer, employee or agent of the
Issuing Bank or the Issuing and Paying Agent on any Note.
		
	 Documents Incorporated by
 Reference:
	 	The Issuing Bank shall supply the Dealers with an adequate supply of all documents incorporated by reference in the Offering Circular.
		
	Business Day:	 	“Business Day” means, unless specified in the applicable Note, any day that is not a Saturday or Sunday and that in The City of New York or in Pittsburgh, Pennsylvania is not a day
on which banking institutions are authorized or required by law, regulation or executive order to close, and with respect to Notes as to which LIBOR is an applicable Interest Rate Basis (as defined below), is also a London Banking Day. “London
Banking Day,” unless otherwise specified in the applicable Note, means any day on which commercial banks are open for business (including any day on which dealings in the Designated LIBOR Currency (as defined in applicable Floating Rate Note))
in London.

  

 H-6 

			
	Issuance:	 	All Fixed Rate Notes of the Issuing Bank issued in book-entry form having the same Original Issue Date, Interest Rate, Interest Payment Dates, Regular Record Dates, Default Rate, Maturity
Date, redemption and/or repayment terms, if any, original issue discount terms, if any, and otherwise having identical terms and provisions (collectively, the “Fixed Rate Terms”) will be represented initially by a single Global Note in
fully registered form; and all Floating Rate Notes of the Issuing Bank issued in book-entry form having the same Original Issue Date, interest rate basis upon which interest may be determined (each, an “Interest Rate Basis”), which may be
the CMT Rate, the Commercial Paper Rate, LIBOR, the Treasury Rate, the Federal Funds Rate, the Prime Rate and any other rate set forth by the Issuing Bank in a Floating Rate Note, Initial Interest Rate, Index Maturity, Spread and/or Spread
Multiplier, if any, Regular Record Dates, Maximum Interest Rate, if any, Minimum Interest Rate, if any, Interest Payment Dates, Interest Payment Period, Interest Reset Dates, Interest Reset Period, Alternate Rate Event Spread, LIBOR Screen, if any,
CMT Moneyline Telerate Page, if any, Calculation Agent, Default Rate, Maturity Date, redemption or repayment terms, if any, original issue discount terms, if any, and otherwise having identical terms and provisions, (collectively, the “Floating
Rate Terms”) will be represented initially by a single Global Note.
		
	Identification:	 	The Issuing Bank has arranged with the CUSIP Service Bureau operated by Standard & Poor’s for the American Bankers Association (the “CUSIP Service Bureau”) for the
reservation of CUSIP numbers assignable to Senior Notes with maturities of more than one year, CUSIP numbers assignable to Senior Notes with maturities of more than nine months up to and including one year, and CUSIP numbers assignable to
Subordinated Notes (if the Issuing Bank is so authorized to issue Subordinated Notes), consisting of CUSIP numbers which have been reserved for and relating to Global Notes, and the Issuing Bank has delivered to DTC such list of such CUSIP numbers.
The Issuing and Paying Agent will

  

 H-7 

			
	 	 	assign CUSIP numbers to Global Notes as described below under Settlement Procedure C. DTC will notify the CUSIP Service Bureau periodically of the CUSIP numbers that the Issuing and Paying
Agent has assigned to the Global Notes. The Issuing and Paying Agent will notify the Issuing Bank at any time when fewer than 100 of the reserved CUSIP numbers of any series remain unassigned to Global Notes and, if it deems it necessary, the
Issuing Bank will reserve additional CUSIP numbers of such series for assignment to Global Notes. Upon obtaining such additional CUSIP numbers, the Issuing Bank will deliver a list of such additional numbers to the Issuing and Paying Agent and DTC.
Book-Entry Notes having an aggregate principal amount in excess of $500,000,000 and otherwise required to be represented by the same Global Note will instead be represented by two or more Global Notes which shall all be assigned the same CUSIP
number.
		
	Registration:	 	Unless otherwise specified by DTC, each Global Note will be registered in the name of Cede & Co., as nominee for DTC, on the register maintained by the Issuing and Paying Agent. The owner
of a Book-Entry Note (i.e., an owner of a beneficial interest in a Global Note) (or one or more indirect participants in DTC designated by such owner) will designate one or more participants in DTC (with respect to such Book-Entry Note, the
“Participants”) to act as agent for such beneficial owner in connection with the book-entry system maintained by DTC, and DTC will record in book-entry form, in accordance with instructions provided by such Participants, a credit balance
with respect to such Book-Entry Notes in the account of such Participants. The ownership interest of such beneficial owner in such Global Note will be recorded through the records of such Participants or through the separate records of such
Participants and one or more indirect participants in DTC.
		
	Transfers:	 	Transfers of a beneficial interest in a Global Note will be accomplished by book entries made by DTC and, in turn, by Participants (and in certain cases, one or more indirect participants in
DTC) acting on behalf of beneficial transferors and transferees of such Global Note.

  

 H-8 

			
	Exchanges:	 	The Issuing and Paying Agent may deliver to DTC and the CUSIP Service Bureau at any time a written notice specifying (a) the CUSIP numbers of two or more Global Notes outstanding on such date
that represent Notes having the same Fixed Rate Terms or Floating Rate Terms, as the case may be (other than Original Issue Dates), and for which interest has been paid to the same date; (b) a date, occurring at least 30 days after such written
notice is delivered and at least 30 days before the next Interest Payment Date for the related Book-Entry Notes, on which such Global Notes shall be exchanged for one or more replacement Global Notes; and (c) a new CUSIP number, obtained from the
Issuing and Paying Agent, to be assigned to such replacement Global Note. Upon receipt of such notice, DTC will send to its Participants a written reorganization notice to the effect that such exchange will occur on such date. Prior to the specified
exchange date, the Issuing and Paying Agent will deliver to the CUSIP Service Bureau written notice setting forth such exchange date and the new CUSIP number and stating that, as of such exchange date, the CUSIP numbers of the Global Notes to be
exchanged will no longer be valid. On the specified exchange date, the Issuing and Paying Agent will exchange such Global Notes for a single Global Note bearing the new CUSIP number, and the CUSIP numbers of the exchanged Global Notes will, in
accordance with CUSIP Service Bureau procedures, be cancelled and not immediately reassigned. Notwithstanding the foregoing, if the Global Notes to be exchanged exceed $500,000,000 in aggregate principal amount, one replacement Global Note will be
authenticated and issued to represent each $500,000,000 of principal amount of the exchanged Global Notes and an additional Global Note or Global Notes will be authenticated and issued in exchange for any remaining principal amount of such exchanged
Global Notes representing such Book-Entry Notes (see “Denominations” below).

  

 H-9 

			
	Denominations:	 	All Book-Entry Notes will be denominated in U.S. dollars. Book-Entry Notes will be issued in minimum denominations of $250,000 and integral multiples of $1,000 in excess thereof. Global Notes
representing Book-Entry Notes will be denominated in principal amounts not in excess of $500,000,000. If one or more Book-Entry Notes having an aggregate principal amount in excess of $500,000,000 would, but for the preceding sentence, be
represented by a single Global Note, then one Global Note will be issued to represent each $500,000,000 principal amount of such Book-Entry Note or Notes and an additional Global Note or Global Notes will be issued to represent any remaining
principal amount of such Book-Entry Notes. In such case, each of the Global Notes representing such Book-Entry Notes shall be assigned the same CUSIP number. Each owner of a beneficial interest in one or more Book-Entry Notes is required to hold
that beneficial interest in denominations of $250,000 principal amount or any integral multiple of $1,000 in excess thereof of each such Book-Entry Note at all times.
		
	Interest:	 	General. Interest on each Book-Entry Note will accrue from the Original Issue Date or the most recent Interest Payment Date for which interest has been paid. Each payment of interest
on a Book-Entry Note shall include interest accrued through the day preceding, as the case may be, the Interest Payment Date, Maturity Date or date of earlier redemption or repayment. Interest payable on the Maturity Date or date of earlier
redemption or repayment of a Book-Entry Note will be payable to the holder to whom the principal of such Book-Entry Note is payable. DTC will arrange for each pending deposit message described under Settlement Procedure D below to be transmitted to
the Standard & Poor’s Ratings Services, which will use the information in the message to include certain terms of the related Book-Entry Note in the appropriate daily bond report published by the Standard & Poor’s Ratings
Services.
		
	 	 	Regular Record Dates. Unless otherwise specified in the applicable Pricing Supplement, the Regular

  

 H-10 

			
	 	 	Record Date with respect to any Interest Payment Date for a Fixed Rate Book-Entry Note with a maturity of greater than one year and for a Floating Rate Book-Entry Note shall be the date 15
calendar days (whether or not a Business Day) prior to such Interest Payment Date. Unless otherwise specified in the applicable Pricing Supplement, interest on a Fixed Rate Book-Entry Note with a maturity of one year or less will be payable only at
maturity to the person to whom principal shall be payable.
		
	 	 	Interest Payment Dates. Interest payments will be made on each Interest Payment Date commencing with the first Interest Payment Date following the Original Issue Date; provided,
however, that the first payment of interest on any Note originally issued between a Regular Record Date and an Interest Payment Date will be made on the second Interest Payment Date following the Original Issue Date. If any Interest Payment
Date of a Fixed Rate Book-Entry Note falls on a day which is not a Business Day, the related payment of interest on such Fixed Rate Book-Entry Note shall be made on the next succeeding Business Day with the same force and effect as if made on the
date such payment was due, and no interest shall accrue on the amount so payable for the period from and after such Interest Payment Date. If any Interest Payment Date with respect to any Floating Rate Book-Entry Note would otherwise be a day that
is not a Business Day, such Interest Payment Date will be the next succeeding Business Day, except that in the case of a LIBOR Book-Entry Note, if such Business Day is in the next succeeding calendar month, such Interest Payment Date will be the
immediately preceding Business Day.
		
	 	 	Fixed Rate Book-Entry Notes. Unless otherwise specified in the applicable Pricing Supplement, interest payments on Fixed Rate Book-Entry Notes having maturities of greater than one year
will be payable on the Interest Payment Dates specified in the Fixed Rate Book-Entry Notes and on the Maturity Date. Unless otherwise specified in the applicable Pricing Supplement, interest on Fixed Rate Book-Entry Notes having maturities of one
year or less will be payable only at maturity.

  

 H-11 

			
	 	 	Floating Rate Notes. Interest payments on Floating Rate Book-Entry Notes will be made as specified in the Floating Rate Book-Entry Note.
		
	 	 	Notice of Interest Payments and Regular Record Dates. On the first Business Day after any Regular Record Date, the Issuing and Paying Agent will deliver to DTC a written list of
Regular Record Dates and Interest Payment Dates that will occur during the six-month period beginning on such first Business Day with respect to Floating Rate Book-Entry Notes. Promptly after each Interest Determination Date for Floating Rate
Book-Entry Notes, the Issuing and Paying Agent will notify the Standard & Poor’s Ratings Services of the interest rates determined on such Interest Determination Date.
		
	Payments of Principal and Interest:	 	Payments of Interest Only. Promptly after each Regular Record Date, the Issuing and Paying Agent will deliver to the Issuing Bank and DTC a written notice specifying by CUSIP number
the amount of interest to be paid on each Book-Entry Note on the following Interest Payment Date (other than an Interest Payment Date coinciding with the Maturity Date or date of earlier redemption or repayment) and the total of such amounts. DTC
will confirm the amount payable on each Book-Entry Note on such Interest Payment Date by reference to the daily bond reports published by the Standard & Poor’s Ratings Services. On such Interest Payment Date, the Issuing Bank will pay to
the Issuing and Paying Agent, and the Issuing and Paying Agent in turn will pay to DTC, an amount sufficient to pay the total amount of interest then due and owing (other than on the Maturity Date or date of earlier redemption or repayment), at the
times and in the manner set forth below under “Manner of Payment.”
		
	 	 	Payments on the Maturity Date or Date of Earlier Redemption or Repayment. On or about the first Business Day of each month, the Issuing and Paying

  

 H-12 

			
	 	 	Agent will deliver to DTC a written list of principal of, premium, if any, and interest on, each Book-Entry Note maturing on any Maturity Date or date of earlier redemption or repayment in the
following month. The Issuing and Paying Agent and DTC will confirm the amounts of such principal of, premium, if any, and interest on, a Book-Entry Note on or about the fifth Business Day preceding such date. On such Maturity Date or date of earlier
redemption or repayment, the Issuing Bank will pay to the Issuing and Paying Agent, and the Issuing and Paying Agent in turn will pay to DTC, the principal amount of such Book-Entry Note, together with interest and premium, if any, due on such
Maturity Date or date of earlier redemption or repayment, at the times and in the manner set forth below under “Manner of Payment.” If any Maturity Date or date of earlier redemption or repayment of a Book-Entry Note falls on a day which
is not a Business Day, the related payment of principal of, premium, if any, or interest on, such Book-Entry Note shall be made on the next succeeding Business Day with the same force and effect as if made on the date such payment were due, and no
interest shall accrue on the amount so payable for the period from and after such Maturity Date or date of earlier redemption or repayment, as the case may be. Promptly after payment to DTC of the principal of, premium, if any, and interest due on,
the Maturity Date or date of earlier redemption or repayment of all Book-Entry Notes represented by a Global Note, the Issuing and Paying Agent will cancel such Global Note and deliver such Global Note to the Issuing Bank with an appropriate debit
advice. On the first Business Day of each month, the Issuing and Paying Agent will deliver to the Issuing Bank a written statement indicating the total principal amount of outstanding Global Notes as of the close of business on the immediately
preceding Business Day.
		
	 	 	Manner of Payment. The total amount of any principal of, premium, if any, and interest on, Book-Entry Notes due on any Interest Payment Date or Maturity Date or date of earlier redemption
or repayment shall be paid by the Issuing Bank to the

  

 H-13 

			
	 	 	Issuing and Paying Agent in immediately available funds available for use by the Issuing and Paying Agent no later than 1:00 p.m., New York City time, on such date. The Issuing Bank will make
such payment on such Book-Entry Notes by instructing the Issuing and Paying Agent to withdraw funds from an account maintained by the Issuing Bank at the Issuing and Paying Agent. The Issuing Bank will confirm such instructions in writing to the
Issuing and Paying Agent. Upon receipt of such funds, the Issuing and Paying Agent will pay by separate wire transfer (using message entry instructions in a form previously specified by DTC) to an account previously specified by DTC, in funds
available for immediate use by DTC, each payment of principal of, premium, if any, and interest on, a Book-Entry Note on such date. Thereafter on such date, DTC will pay, in accordance with its SDFS operating procedures then in effect, such amounts
in funds available for immediate use to the respective Participants in whose names Book-Entry Notes are recorded in the book-entry system maintained by DTC. Neither the Issuing Bank nor the Issuing and Paying Agent will have any responsibility or
liability for the payment by DTC of the principal of, premium, if any, or interest on, the Book-Entry Notes to such Participants.
		
	 	 	Withholding Taxes. The amount of any taxes required under applicable law to be withheld from any interest payment on a Book-Entry Note will be determined and withheld by the
Participant, indirect participant in DTC or other person responsible for forwarding payments and materials directly to the beneficial owner of such Book-Entry Note.
		
	Settlement Procedures:	 	Settlement Procedures with regard to Book-Entry Notes purchased by each Dealer as principal or sold by each Dealer, as agent of the Issuing Bank, will be as follows:
		
	 	 	 A. The Presenting Dealer will advise the Issuing Bank by telephone, confirmed by facsimile, of the following settlement
information:

		
	 	 	 1. Principal amount of such Book-Entry Notes.

  

 H-14 

			
		
	 	 	 2. Whether the Note is a Short-Term Senior Note, Medium-Term Senior Note or a Subordinated Note.

		
	 	 	 3. (a) Fixed Rate Book-Entry Notes:

		
	 	 	 (i)     Interest Rate;

		
	 	 	 (ii)    Interest Payment Dates for Fixed Rate Book-Entry Notes; and

		
	 	 	 (b) Floating Rate Book-Entry Notes:

		
	 	 	 (i)     Initial Interest Rate;

		
	 	 	 (ii)    Interest Rate Basis;

		
	 	 	 (iii)  Index Maturity;

		
	 	 	 (iv)   Spread and/or Spread Multiplier, if any;

		
	 	 	 (v)    Maximum Interest Rate, if any;

		
	 	 	 (vi)   Minimum Interest Rate, if any;

		
	 	 	 (vii) Interest Payment Dates;

		
	 	 	 (viii) Interest Payment Period;

		
	 	 	 (ix)   Interest Reset Dates;

		
	 	 	 (x)    Calculation Agent (if other than the Issuing and Paying Agent);

		
	 	 	 (xi)   Interest Reset Period;

		
	 	 	 (xii) Other terms, if any.

		
	 	 	 4. Price to public, if any, of such Book-Entry Notes (if such Book-Entry Notes are not being offered “at the
market”).

		
	 	 	 5. Settlement Date (Original Issue Date).

		
	 	 	 6. Trade Date.

  

 H-15 

			
	 	 	 7. Maturity Date.

		
	 	 	 8. Redemption provisions, if any, including: Initial Redemption Date, Initial Redemption Percentage and Annual Redemption Percentage
Reduction.

		
	 	 	 9. Repayment provisions, if any, including: Holder’s Optional Repayment Date(s).

		
	 	 	 10. The Presenting Dealer’s commission or discount, as applicable.

		
	 	 	 11. Such other information specified with respect to such Book-Entry Notes.

		
	 	 	 B. If any offer to purchase a Note is accepted by the Issuing Bank, the Issuing Bank, with the approval of the Presenting Dealer, will prepare
a Pricing Supplement reflecting the information set forth in Settlement Procedure A above, and will transmit the Pricing Supplement to the Presenting Dealer by electronic or facsimile transmission.

		
	 	 	 C. The Issuing Bank will advise the Issuing and Paying Agent by electronic means, telephone (confirmed in writing at any time on the same
date), facsimile transmission or by other acceptable means of the information set forth in Settlement Procedure A above, and the name of the Presenting Dealer. The Issuing and Paying Agent on behalf of the Issuing Bank will assign a CUSIP number of
the appropriate series to the Global Note representing such Book-Entry Notes and will notify the Issuing Bank by facsimile transmission or other electronic transmission of such CUSIP number as soon as practicable, and as soon thereafter as
practicable, the Issuing Bank will notify the Presenting Dealer by telephone of such CUSIP number. Each such instruction given by the Issuing Bank to the Issuing and Paying Agent will constitute a representation and warranty by the Issuing Bank to
the Issuing and Paying Agent and the Dealers that (i) the issuance and delivery of such Global Note has been duly and validly authorized by the Issuing Bank and (ii) that such Global Note, when completed,

  

 H-16 

			
	 	 	 authenticated and delivered pursuant to the Issuing and Paying Agency Agreement, will constitute the valid and legally binding obligation of the Issuing
Bank.

		
	 	 	 D. The Issuing and Paying Agent will communicate to DTC and the Presenting Dealer through DTC’s Participant Terminal System, a pending
deposit message specifying the following settlement information:

		
	 	 	 1. The information set forth in Settlement Procedure A.

		
	 	 	 2. The identification numbers of the participant accounts maintained by DTC on behalf of the Issuing and Paying Agent and the Presenting
Dealer.

		
	 	 	 3. Identification as a Senior Note or a Subordinated Note.

		
	 	 	 4. Identification as a Fixed Rate Book-Entry Note or Floating Rate Book-Entry Note.

		
	 	 	 5. The initial Interest Payment Date for each Global Note representing such Book-Entry Notes, the number of days by which such date succeeds
the related Regular Record Date for DTC purposes and, if then calculable, the amount of interest payable on such Interest Payment Date (which amount shall have been confirmed by the Issuing and Paying Agent).

		
	 	 	 6. The CUSIP number of each Global Note representing such Book-Entry Notes.

		
	 	 	 7. Whether such Global Note represents any other Notes issued or to be issued in book-entry form.

		
	 	 	 E. The Issuing and Paying Agent will complete, authenticate and deliver to DTC by retention as custodian for DTC the Global Note representing
such Book-Entry Notes in a form that has been approved by the Issuing Bank, the Issuing and Paying Agent and the Dealers.

		
	 	 	 F. DTC will credit the Book-Entry Notes represented by such Global Note to the participant account of the Issuing and Paying Agent maintained
by DTC except as provided in Settlement Procedure H below.

  

 62 

			
	 	 	 G. The Issuing and Paying Agent will enter an SDFS deliver order through DTC’s Participant Terminal System instructing DTC (i) to
debit such Book-Entry Notes to the Issuing and Paying Agent’s participant account and credit such Book-Entry Notes to the participant account of the Presenting Dealer maintained by DTC and (ii) to debit the settlement account of the Presenting
Dealer and credit the settlement account of the Issuing and Paying Agent maintained by DTC, in an amount equal to the price of such Book-Entry Notes less such Dealer’s commission. Any entry of such deliver order shall be deemed to constitute a
representation and warranty by the Issuing and Paying Agent to DTC that (i) the Global Note representing such Book-Entry Notes has been issued and authenticated and (ii) the Issuing and Paying Agent is holding such Global Note pursuant to the
Certificate Agreement.

		
	 	 	 H. In the case of Book-Entry Notes sold through a Dealer acting as agent, the Presenting Dealer will enter an SDFS deliver order through
DTC’s Participant Terminal System instructing DTC (i) to debit such Book-Entry Notes to the Presenting Dealer’s participant account and credit such Book-Entry Notes to the participant account of the Participants maintained by DTC and (ii)
to debit the settlement accounts of such Participants and credit the settlement account of the Presenting Dealer maintained by DTC, in an amount equal to the initial public offering price of such Book-Entry Notes.

		
	 	 	 I. Transfers of funds in accordance with SDFS deliver orders described in Settlement Procedures G and H will be settled in accordance with
SDFS operating procedures in effect on the Settlement Date.

		
	 	 	 J. The Issuing and Paying Agent will credit to an account of the Issuing Bank maintained at the

  

 H-18 

			
	 	 	 Issuing and Paying Agent funds available for immediate use in the amount transferred to the Issuing and Paying Agent in accordance with Settlement Procedure
G.

		
	 	 	 K. In the case of Book-Entry Notes sold through a Dealer acting as agent, the Presenting Dealer will confirm the purchase of such
Book-Entry Notes to the purchaser either by transmitting to the Participant with respect to such Book-Entry Notes a confirmation order through DTC’s Participant Terminal System or by mailing a written confirmation to such
purchaser.

		
	Settlement Procedures Timetable:	 	For offers to purchase Book-Entry Notes accepted by the Issuing Bank, Settlement Procedures A through K set forth above shall be completed as soon as possible. However, all information on
sales settling one day or more after the Trade Date will be transmitted to DTC no later than 10:00 a.m. on the Settlement Date.
		
	 	 	If a sale is to be settled on the same Business Day as the Trade Date, Settlement Procedure A shall be completed no later than 11:00 a.m. on such Business Day, Settlement Procedure C shall be
completed no later than 12:00 p.m. on such Business Day and Settlement Procedure D shall be completed no later than 1:00 p.m. on such Business Day.
		
	 	 	If a sale is to be settled more than one Business Day after the Trade Date, Settlement Procedures A and B must be completed no later than 4:00 p.m. on the Trade Date and Settlement Procedures
C and D may, if necessary, be completed at any time on the first Business Day after such Trade Date. Settlement Procedure I is subject to extension in accordance with any extension of Fedwire closing deadlines and in the other events specified in
the SDFS operating procedures in effect on the Settlement Date.
		
	 	 	If settlement of a Book-Entry Note is rescheduled or cancelled, the Issuing and Paying Agent will deliver to DTC, through DTC’s Participant Terminal System, a cancellation message to
such effect by no later than 2:00 p.m., New York City time, on the Business Day immediately preceding the scheduled Settlement Date.

  

 H-19 

			
	Failure to Settle:	 	If the Issuing and Paying Agent fails to enter an SDFS deliver order with respect to a Book-Entry Note pursuant to Settlement Procedure G, then the Issuing and Paying Agent may deliver to
DTC, through DTC’s Participant Terminal System, as soon as practicable a withdrawal message instructing DTC to debit such Book-Entry Note to the participant account of the Issuing and Paying Agent maintained at DTC. DTC will process the
withdrawal message, provided that such participant account contains a principal amount of the Global Note representing such Book-Entry Note that is at least equal to the principal amount to be debited. If withdrawal messages are processed with
respect to all Book-Entry Notes represented by a Global Note, the Issuing and Paying Agent will mark such Global Note “cancelled,” make appropriate entries in its records and return such Global Note to the Issuing Bank. The CUSIP number
assigned to such Global Note shall, in accordance with CUSIP Service Bureau procedures, be cancelled and not immediately reassigned. If withdrawal messages are processed with respect to some of the Book-Entry Notes represented by a Global Note, the
Issuing and Paying Agent will exchange such Global Note for two Global Notes, one of which shall represent the Book-Entry Notes for which such withdrawal messages are processed and shall be cancelled immediately after issuance, and the other of
which shall represent the other Book-Entry Notes previously represented by the surrendered Global Note and shall bear the CUSIP number of the surrendered Global Note.
		
	 	 	In the case of any Book-Entry Note sold through a Dealer, acting as agent, if the purchase price for any Book-Entry Note is not timely paid to the Participants with respect to such Book-Entry
Note by the beneficial purchaser thereof (or a person, including an indirect participant in DTC, acting on behalf of such purchaser), such Participants and, in turn, the

  

 H-20 

			
	 	 	applicable Dealer may enter SDFS deliver orders through DTC’s Participant Terminal System reversing the orders entered pursuant to Settlement Procedures G and H, respectively. Thereafter,
the Issuing and Paying Agent will deliver the withdrawal message and take the related actions described in the preceding paragraph. If such failure shall have occurred for any reason other than default by the applicable Dealer to perform its
obligations hereunder or under the Distribution Agreement, the Issuing Bank will reimburse such Dealer on an equitable basis for its loss of the use of funds during the period when the funds were credited to the account of the Issuing
Bank.
		
	 	 	Notwithstanding the foregoing, upon any failure to settle with respect to a Book-Entry Note, DTC may take any actions in accordance with its SDFS operating procedures then in effect. In the
event of a failure to settle with respect to a Book-Entry Note that was to have been represented by a Global Note also representing other Book-Entry Notes, the Issuing and Paying Agent will provide, in accordance with Settlement Procedure E, for the
authentication and issuance of a Global Note representing such remaining Book-Entry Notes and will make appropriate entries in its records.

  
 [Schedules omitted]

  

 H-21

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