The PNC Financial Services Group, Inc. (NYSE:PNC) today announced the closing of its sale of 31.6 million shares of BlackRock, Inc. (NYSE:BLK) common and preferred stock through a registered offering at a price of $420 per share. This includes the previously announced option that has been fully exercised by underwriters. In addition, PNC announced the completion of BlackRock's repurchase of 2.65 million shares from PNC at a price of $414.96 per share.

As a result, PNC has sold its entire holding in BlackRock, excluding 500,000 BlackRock shares that PNC intends to contribute to the PNC Foundation by the end of the second quarter of 2020.

The PNC Financial Services Group, Inc. is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.