Allocation of Callable Securities Your account may contain “callable” securities, which allow the issuer to repurchase or redeem the securities by a specified date. In the event of a partial redemption or call of securities by the issuer, PNC Capital Markets LLC will allocate among its customers, the securities being selected as called, on a fair and impartial basis through a randomized lottery system. If your account contains callable securities subject to a partial redemption or call, the probability of your securities being selected as called is proportional to the holdings of all customers of such securities held in bulk by PNC Capital Markets LLC. Notwithstanding the foregoing statements, PNC Capital Markets LLC will further ensure equitable allocation of the callable securities by excluding itself as well as its interested persons from the lottery system when the redemption is made on terms that are favorable to PNC Capital Markets LLC; and including itself as well as its interested persons in the lottery system when the redemption is made on terms that are unfavorable to PNC Capital Markets LLC.
Greg McKenna
Managing Director and
Group Head
Greg McKenna is Managing Director and Group Head for the PNC Capital Markets Charter School Group, and he sits in Pittsburgh, PA at PNC’s corporate headquarters.
Greg is primarily responsible for managing PNC’s charter school tax-exempt revenue bond program across the Firm’s national footprint. He has over 25 years of experience in Public Finance Capital Markets. He is responsible for project origination, credit analysis, debt structuring, document development and review, rating agency reviews, timing of the sale and closing for all types of tax-exempt bonds, notes, and securities instruments. He has been the lead banker on more than fifty long-term bond issues for various charter schools, providing more than $1.0 billion in facility financing.
Greg received his B.S. in Business and master’s in Finance, both from Duquesne University in Pittsburgh, PA.