[424B2] Prudential Financial, Inc. Prospectus Supplement
Prudential Financial, Inc. (PRU) filed Final Pricing Supplement No. 24 for two new senior unsecured InterNotes庐 tranches totaling $15.543 million in aggregate principal.
The first tranche (CUSIP 74432BBA5) carries $4.868 million of principal, a fixed 4.20% coupon, semi-annual interest payments on 15 June and 15 December, and a maturity of 15 June 2027. It is non-callable, priced at par (100.000%), with a 0.550% selling concession, generating net proceeds of $4.841 million.
The second tranche (CUSIP 74432BBB3) totals $10.675 million, offers a 5.20% fixed coupon, identical payment dates, and a 15 June 2035 maturity. This note is callable at 100% of par starting 15 June 2027 and on each subsequent interest date. It was also priced at par with a 1.800% selling concession, yielding net proceeds of $10.483 million.
Both tranches include a survivor鈥檚 option, are issued in $1,000 denominations, settle DTC book-entry on 26 June 2025, and will be administered by The Bank of New York (trustee) and Citibank, N.A. (paying agent/registrar). InspereX LLC acts as purchasing agent alongside a syndicate including BofA Securities, Citigroup, Morgan Stanley, RBC Capital Markets and Wells Fargo Advisors.
The notes rank pari passu with PRU鈥檚 existing senior unsecured debt and are not zero-coupon or amortizing instruments. Legal validity is confirmed by counsel John M. Cafiero under New Jersey and New York law as incorporated in PRU鈥檚 automatic shelf registration statement (File No. 333-277590).
Prudential Financial, Inc. (PRU) ha depositato il Supplemento Finale di Prezzo n. 24 per due nuove tranche senior unsecured InterNotes庐 per un totale di 15,543 milioni di dollari di capitale aggregato.
La prima tranche (CUSIP 74432BBA5) ha un capitale di 4,868 milioni di dollari, un coupon fisso del 4,20%, pagamenti degli interessi semestrali il 15 giugno e il 15 dicembre, e una scadenza al 15 giugno 2027. 脠 non richiamabile, quotata alla pari (100,000%), con una commissione di vendita dello 0,550%, generando proventi netti di 4,841 milioni di dollari.
La seconda tranche (CUSIP 74432BBB3) ammonta a 10,675 milioni di dollari, offre un coupon fisso del 5,20%, con le stesse date di pagamento, e una scadenza al 15 giugno 2035. Questa nota 猫 richiamabile al 100% del valore nominale a partire dal 15 giugno 2027 e in ogni successiva data di interesse. 脠 stata anch鈥檈ssa quotata alla pari con una commissione di vendita dell鈥�1,800%, con proventi netti pari a 10,483 milioni di dollari.
Entrambe le tranche includono un opzione di sopravvivenza, sono emesse in tagli da 1.000 dollari, con regolamento DTC book-entry il 26 giugno 2025, e saranno amministrate da The Bank of New York (trustee) e Citibank, N.A. (agente di pagamento/registrar). InspereX LLC agisce come agente d鈥檃cquisto insieme a un sindacato composto da BofA Securities, Citigroup, Morgan Stanley, RBC Capital Markets e Wells Fargo Advisors.
Le note hanno rango pari passu con il debito senior unsecured esistente di PRU e non sono strumenti a zero-coupon n茅 ammortizzabili. La validit脿 legale 猫 confermata dal consulente John M. Cafiero secondo le leggi del New Jersey e di New York, come incorporato nella dichiarazione di registrazione automatica a scaffale di PRU (File n. 333-277590).
Prudential Financial, Inc. (PRU) present贸 el Suplemento Final de Precio No. 24 para dos nuevas series senior no garantizadas InterNotes庐 por un total de 15,543 millones de d贸lares en principal agregado.
La primera serie (CUSIP 74432BBA5) tiene un principal de 4,868 millones de d贸lares, un cup贸n fijo del 4,20%, pagos de intereses semestrales el 15 de junio y el 15 de diciembre, y un vencimiento el 15 de junio 2027. Es no rescatable, cotizada a la par (100,000%), con una comisi贸n de venta del 0,550%, generando ingresos netos de 4,841 millones de d贸lares.
La segunda serie (CUSIP 74432BBB3) suma 10,675 millones de d贸lares, ofrece un cup贸n fijo del 5,20%, con fechas de pago id茅nticas y un vencimiento el 15 de junio 2035. Este bono es rescatable al 100% del valor nominal a partir del 15 de junio 2027 y en cada fecha de inter茅s posterior. Tambi茅n se cotiz贸 a la par con una comisi贸n de venta del 1,800%, generando ingresos netos de 10,483 millones de d贸lares.
Ambas series incluyen una opci贸n de supervivencia, se emiten en denominaciones de 1.000 d贸lares, liquidaci贸n DTC book-entry el 26 de junio 2025, y ser谩n administradas por The Bank of New York (fiduciario) y Citibank, N.A. (agente pagador/registrador). InspereX LLC act煤a como agente de compra junto con un sindicato que incluye a BofA Securities, Citigroup, Morgan Stanley, RBC Capital Markets y Wells Fargo Advisors.
Los bonos tienen rango pari passu con la deuda senior no garantizada existente de PRU y no son instrumentos de cup贸n cero ni amortizables. La validez legal est谩 confirmada por el abogado John M. Cafiero bajo las leyes de Nueva Jersey y Nueva York, seg煤n lo incorporado en la declaraci贸n de registro autom谩tico en estanter铆a de PRU (Archivo No. 333-277590).
Prudential Financial, Inc.(PRU)電� 齑� 鞗愱笀 1,5543毵� 雼煬 攴滊鞚� 霊� 臧滌潣 靸堧鞖� 靹犾垳鞙� 氍措嫶氤� InterNotes庐 韸鸽灉旃橃棎 雽�頃� 斓滌 臧�瓴� 氤挫订靹� 氩堩樃 24毳� 鞝滌稖頄堨姷雼堧嫟.
觳� 氩堨Ц 韸鸽灉旃�(CUSIP 74432BBA5)電� 486.8毵� 雼煬鞚� 鞗愱笀, 4.20% 瓿犾爼 炜犿彴, 6鞗� 15鞚缄臣 12鞗� 15鞚� 氚橁赴 鞚挫瀽 歆�旮�, 攴鸽Μ瓿� 2027雲� 6鞗� 15鞚� 毵岅赴毳� 臧�歆戨媹雼�. 鞚� 韸鸽灉旃橂姅 旖� 攵堦皜頃橂┌ 鞎‰┐臧�(100.000%)搿� 臧�瓴╈澊 毂呾爼霅橃棃瓿�, 0.550%鞚� 韺愲Г 靾橃垬耄岅皜 鞝侅毄霅橃柎 靾滌垬鞚奠潃 484.1毵� 雼煬鞛呺媹雼�.
霊� 氩堨Ц 韸鸽灉旃�(CUSIP 74432BBB3)電� 齑� 1,067.5毵� 雼煬鞚措┌, 5.20% 瓿犾爼 炜犿彴, 霃欖澕頃� 歆�旮夓澕, 攴鸽Μ瓿� 2035雲� 6鞗� 15鞚� 毵岅赴毳� 鞝滉车頃╇媹雼�. 鞚� 毂勱秾鞚� 2027雲� 6鞗� 15鞚茧秬韯� 攴鸽Μ瓿� 鞚错泟 臧� 鞚挫瀽 歆�旮夓澕鞐� 鞎‰┐臧�鞚� 100%搿� 旖� 臧�電�頃╇媹雼�. 鞚� 霕愴暅 鞎‰┐臧�搿� 臧�瓴╈澊 毂呾爼霅橃棃鞙茧┌ 1.800%鞚� 韺愲Г 靾橃垬耄岅皜 鞝侅毄霅橃柎 靾滌垬鞚奠潃 1,048.3毵� 雼煬鞛呺媹雼�.
霊� 韸鸽灉旃� 氇憪 靹滊皵鞚措矂 鞓奠厴鞚� 韽暔霅橃柎 鞛堦碃, 1,000雼煬 雼渼搿� 氚滍枆霅橂┌, 2025雲� 6鞗� 26鞚� DTC 攵侅棓韸鸽Μ 氚╈嫕鞙茧 瓴办牅霅╇媹雼�. The Bank of New York(靾橅儊鞛�)鞕� Citibank, N.A.(歆�旮� 雽�頄�/霌彪旮瓣磤)臧� 甏�毽晿氅�, InspereX LLC電� BofA Securities, Citigroup, Morgan Stanley, RBC Capital Markets 氚� Wells Fargo Advisors毳� 韽暔頃� 鞁犽敂旒�鞚错姼鞕� 頃粯 甑Г 雽�頄� 鞐暊鞚� 頃╇媹雼�.
鞚� 毂勱秾霌れ潃 PRU鞚� 旮办〈 靹犾垳鞙� 氍措嫶氤� 攵�毂勳檧 霃欖澕頃� 靾滌渼(pari passu)毳� 臧�歆�氅�, 鞝滊 炜犿彴鞚措倶 靸來櫂順� 靸來拡鞚� 鞎勲嫏雼堧嫟. 氩曥爜 鞙犿毃靹膘潃 雺挫爛歆� 氚� 雺挫殨 氩曤鞐� 霐半澕 John M. Cafiero 氩曤 瓿犽鞚� 頇曥澑頄堨溂氅�, PRU鞚� 鞛愲彊 靹犽皹 霌彪 氇呾劯靹�(韺岇澕 氩堩樃 333-277590)鞐� 韱淀暕霅橃柎 鞛堨姷雼堧嫟.
Prudential Financial, Inc. (PRU) a d茅pos茅 le Suppl茅ment Final de Prix n掳 24 pour deux nouvelles tranches senior non garanties InterNotes庐 totalisant 15,543 millions de dollars de principal agr茅g茅.
La premi猫re tranche (CUSIP 74432BBA5) porte un principal de 4,868 millions de dollars, un coupon fixe de 4,20%, des paiements d鈥檌nt茅r锚ts semestriels les 15 juin et 15 d茅cembre, et une 茅ch茅ance au 15 juin 2027. Elle est non remboursable par anticipation, cot茅e au pair (100,000%), avec une commission de vente de 0,550%, g茅n茅rant des produits nets de 4,841 millions de dollars.
La deuxi猫me tranche (CUSIP 74432BBB3) totalise 10,675 millions de dollars, offre un coupon fixe de 5,20%, aux m锚mes dates de paiement, et une 茅ch茅ance au 15 juin 2035. Cette obligation est remboursable 脿 100% du pair 脿 partir du 15 juin 2027 et 脿 chaque date d鈥檌nt茅r锚t ult茅rieure. Elle a 茅galement 茅t茅 cot茅e au pair avec une commission de vente de 1,800%, g茅n茅rant des produits nets de 10,483 millions de dollars.
Les deux tranches incluent une option de survie, sont 茅mises en coupures de 1 000 dollars, avec r猫glement en inscription en compte DTC le 26 juin 2025, et seront administr茅es par The Bank of New York (fiduciaire) et Citibank, N.A. (agent payeur/registre). InspereX LLC agit en tant qu鈥檃gent d鈥檃chat aux c么t茅s d鈥檜n syndicat comprenant BofA Securities, Citigroup, Morgan Stanley, RBC Capital Markets et Wells Fargo Advisors.
Les obligations sont au m锚me rang que la dette senior non garantie existante de PRU et ne sont ni des instruments 脿 coupon z茅ro ni amortissables. La validit茅 juridique est confirm茅e par le conseil John M. Cafiero selon les lois du New Jersey et de New York, telles qu鈥檌ncorpor茅es dans la d茅claration d鈥檈nregistrement automatique en 茅tag猫re de PRU (dossier n掳 333-277590).
Prudential Financial, Inc. (PRU) hat die Endg眉ltige Preisbekanntmachung Nr. 24 f眉r zwei neue Senior Unsecured InterNotes庐-Tranchen mit einem Gesamtnennwert von 15,543 Millionen US-Dollar eingereicht.
Die erste Tranche (CUSIP 74432BBA5) umfasst 4,868 Millionen US-Dollar Nennwert, einen festen Kupon von 4,20%, halbj盲hrliche Zinszahlungen am 15. Juni und 15. Dezember sowie eine F盲lligkeit am 15. Juni 2027. Sie ist nicht k眉ndbar, zum Nennwert (100,000%) bepreist, mit einem Verkaufskostenzuschlag von 0,550%, was Nettobetr盲ge von 4,841 Millionen US-Dollar generiert.
Die zweite Tranche (CUSIP 74432BBB3) bel盲uft sich auf 10,675 Millionen US-Dollar, bietet einen festen Kupon von 5,20%, identische Zahlungstermine und eine F盲lligkeit am 15. Juni 2035. Diese Schuldverschreibung ist ab dem 15. Juni 2027 und an jedem nachfolgenden Zinstermin zum Nennwert k眉ndbar. Sie wurde ebenfalls zum Nennwert mit einem Verkaufskostenzuschlag von 1,800% bepreist und erzielt Nettobetr盲ge von 10,483 Millionen US-Dollar.
Beide Tranchen enthalten eine Survivor-Option, werden in St眉ckelungen von 1.000 US-Dollar ausgegeben, die Abwicklung erfolgt am 26. Juni 2025 per DTC Buchbucheintrag, und sie werden von The Bank of New York (Treuh盲nder) und Citibank, N.A. (Zahlungsagent/Registrar) verwaltet. InspereX LLC fungiert als Kaufagent zusammen mit einem Konsortium, dem BofA Securities, Citigroup, Morgan Stanley, RBC Capital Markets und Wells Fargo Advisors angeh枚ren.
Die Schuldverschreibungen stehen pari passu mit den bestehenden unbesicherten Senior-Schulden von PRU und sind weder Nullkupon- noch tilgungsf盲hige Instrumente. Die rechtliche G眉ltigkeit wurde vom Rechtsberater John M. Cafiero nach New Jersey- und New Yorker Recht best盲tigt, wie in PRUs automatischer Shelf-Registrierungserkl盲rung (Aktenzeichen 333-277590) aufgenommen.
- Fixed-rate funding locked at 4.20% (2-year) and 5.20% (10-year), providing cost visibility during volatile interest-rate conditions.
- Callable structure on the longer tranche grants Prudential flexibility to refinance if borrowing costs decline.
- Incremental senior unsecured debt marginally increases outstanding obligations and interest expense.
- Investor call protection is limited to par from June 2027, exposing holders of the 2035 notes to early redemption risk.
Insights
TL;DR: Small, routine $15.5 M issuance adds fixed-rate funding; impact on PRU leverage or liquidity is immaterial.
The filing details two modest senior unsecured note tranches under PRU鈥檚 InterNotes庐 program. At $15.5 million combined, the size is negligible versus Prudential鈥檚 multi-billion-dollar balance sheet, suggesting no material change to leverage metrics. Coupons of 4.20% (2-year) and 5.20% (10-year) lock in fixed costs in a still-elevated rate environment, while the call option on the longer tranche affords refinancing flexibility should rates fall. Both notes carry survivor鈥檚 options, broadening retail appeal, and rank equally with existing senior debt, so no subordination concerns arise. Net proceeds鈥攁fter concessions鈥攖otal roughly $15.324 million and will flow to general corporate purposes as stated in the base prospectus. Because the issuance is routine and immaterial in scale, I assign a neutral impact.
TL;DR: Incremental debt with standard covenants; senior structure limits creditor risk, but issuance size is too small to influence ratings.
The notes share PRU鈥檚 senior unsecured ranking and contain no unusual covenants or structural subordination, maintaining status quo for existing bondholders. The 5.20% coupon on the 10-year reflects prevailing spreads for A-rated insurers and the embedded call beginning year 2 improves issuer optionality without investor make-whole protection beyond par. Still, given the limited face value, credit agencies are unlikely to re-evaluate PRU鈥檚 ratings. From a credit-worthiness angle, the filing is operationally routine and financially non-impactful.
Prudential Financial, Inc. (PRU) ha depositato il Supplemento Finale di Prezzo n. 24 per due nuove tranche senior unsecured InterNotes庐 per un totale di 15,543 milioni di dollari di capitale aggregato.
La prima tranche (CUSIP 74432BBA5) ha un capitale di 4,868 milioni di dollari, un coupon fisso del 4,20%, pagamenti degli interessi semestrali il 15 giugno e il 15 dicembre, e una scadenza al 15 giugno 2027. 脠 non richiamabile, quotata alla pari (100,000%), con una commissione di vendita dello 0,550%, generando proventi netti di 4,841 milioni di dollari.
La seconda tranche (CUSIP 74432BBB3) ammonta a 10,675 milioni di dollari, offre un coupon fisso del 5,20%, con le stesse date di pagamento, e una scadenza al 15 giugno 2035. Questa nota 猫 richiamabile al 100% del valore nominale a partire dal 15 giugno 2027 e in ogni successiva data di interesse. 脠 stata anch鈥檈ssa quotata alla pari con una commissione di vendita dell鈥�1,800%, con proventi netti pari a 10,483 milioni di dollari.
Entrambe le tranche includono un opzione di sopravvivenza, sono emesse in tagli da 1.000 dollari, con regolamento DTC book-entry il 26 giugno 2025, e saranno amministrate da The Bank of New York (trustee) e Citibank, N.A. (agente di pagamento/registrar). InspereX LLC agisce come agente d鈥檃cquisto insieme a un sindacato composto da BofA Securities, Citigroup, Morgan Stanley, RBC Capital Markets e Wells Fargo Advisors.
Le note hanno rango pari passu con il debito senior unsecured esistente di PRU e non sono strumenti a zero-coupon n茅 ammortizzabili. La validit脿 legale 猫 confermata dal consulente John M. Cafiero secondo le leggi del New Jersey e di New York, come incorporato nella dichiarazione di registrazione automatica a scaffale di PRU (File n. 333-277590).
Prudential Financial, Inc. (PRU) present贸 el Suplemento Final de Precio No. 24 para dos nuevas series senior no garantizadas InterNotes庐 por un total de 15,543 millones de d贸lares en principal agregado.
La primera serie (CUSIP 74432BBA5) tiene un principal de 4,868 millones de d贸lares, un cup贸n fijo del 4,20%, pagos de intereses semestrales el 15 de junio y el 15 de diciembre, y un vencimiento el 15 de junio 2027. Es no rescatable, cotizada a la par (100,000%), con una comisi贸n de venta del 0,550%, generando ingresos netos de 4,841 millones de d贸lares.
La segunda serie (CUSIP 74432BBB3) suma 10,675 millones de d贸lares, ofrece un cup贸n fijo del 5,20%, con fechas de pago id茅nticas y un vencimiento el 15 de junio 2035. Este bono es rescatable al 100% del valor nominal a partir del 15 de junio 2027 y en cada fecha de inter茅s posterior. Tambi茅n se cotiz贸 a la par con una comisi贸n de venta del 1,800%, generando ingresos netos de 10,483 millones de d贸lares.
Ambas series incluyen una opci贸n de supervivencia, se emiten en denominaciones de 1.000 d贸lares, liquidaci贸n DTC book-entry el 26 de junio 2025, y ser谩n administradas por The Bank of New York (fiduciario) y Citibank, N.A. (agente pagador/registrador). InspereX LLC act煤a como agente de compra junto con un sindicato que incluye a BofA Securities, Citigroup, Morgan Stanley, RBC Capital Markets y Wells Fargo Advisors.
Los bonos tienen rango pari passu con la deuda senior no garantizada existente de PRU y no son instrumentos de cup贸n cero ni amortizables. La validez legal est谩 confirmada por el abogado John M. Cafiero bajo las leyes de Nueva Jersey y Nueva York, seg煤n lo incorporado en la declaraci贸n de registro autom谩tico en estanter铆a de PRU (Archivo No. 333-277590).
Prudential Financial, Inc.(PRU)電� 齑� 鞗愱笀 1,5543毵� 雼煬 攴滊鞚� 霊� 臧滌潣 靸堧鞖� 靹犾垳鞙� 氍措嫶氤� InterNotes庐 韸鸽灉旃橃棎 雽�頃� 斓滌 臧�瓴� 氤挫订靹� 氩堩樃 24毳� 鞝滌稖頄堨姷雼堧嫟.
觳� 氩堨Ц 韸鸽灉旃�(CUSIP 74432BBA5)電� 486.8毵� 雼煬鞚� 鞗愱笀, 4.20% 瓿犾爼 炜犿彴, 6鞗� 15鞚缄臣 12鞗� 15鞚� 氚橁赴 鞚挫瀽 歆�旮�, 攴鸽Μ瓿� 2027雲� 6鞗� 15鞚� 毵岅赴毳� 臧�歆戨媹雼�. 鞚� 韸鸽灉旃橂姅 旖� 攵堦皜頃橂┌ 鞎‰┐臧�(100.000%)搿� 臧�瓴╈澊 毂呾爼霅橃棃瓿�, 0.550%鞚� 韺愲Г 靾橃垬耄岅皜 鞝侅毄霅橃柎 靾滌垬鞚奠潃 484.1毵� 雼煬鞛呺媹雼�.
霊� 氩堨Ц 韸鸽灉旃�(CUSIP 74432BBB3)電� 齑� 1,067.5毵� 雼煬鞚措┌, 5.20% 瓿犾爼 炜犿彴, 霃欖澕頃� 歆�旮夓澕, 攴鸽Μ瓿� 2035雲� 6鞗� 15鞚� 毵岅赴毳� 鞝滉车頃╇媹雼�. 鞚� 毂勱秾鞚� 2027雲� 6鞗� 15鞚茧秬韯� 攴鸽Μ瓿� 鞚错泟 臧� 鞚挫瀽 歆�旮夓澕鞐� 鞎‰┐臧�鞚� 100%搿� 旖� 臧�電�頃╇媹雼�. 鞚� 霕愴暅 鞎‰┐臧�搿� 臧�瓴╈澊 毂呾爼霅橃棃鞙茧┌ 1.800%鞚� 韺愲Г 靾橃垬耄岅皜 鞝侅毄霅橃柎 靾滌垬鞚奠潃 1,048.3毵� 雼煬鞛呺媹雼�.
霊� 韸鸽灉旃� 氇憪 靹滊皵鞚措矂 鞓奠厴鞚� 韽暔霅橃柎 鞛堦碃, 1,000雼煬 雼渼搿� 氚滍枆霅橂┌, 2025雲� 6鞗� 26鞚� DTC 攵侅棓韸鸽Μ 氚╈嫕鞙茧 瓴办牅霅╇媹雼�. The Bank of New York(靾橅儊鞛�)鞕� Citibank, N.A.(歆�旮� 雽�頄�/霌彪旮瓣磤)臧� 甏�毽晿氅�, InspereX LLC電� BofA Securities, Citigroup, Morgan Stanley, RBC Capital Markets 氚� Wells Fargo Advisors毳� 韽暔頃� 鞁犽敂旒�鞚错姼鞕� 頃粯 甑Г 雽�頄� 鞐暊鞚� 頃╇媹雼�.
鞚� 毂勱秾霌れ潃 PRU鞚� 旮办〈 靹犾垳鞙� 氍措嫶氤� 攵�毂勳檧 霃欖澕頃� 靾滌渼(pari passu)毳� 臧�歆�氅�, 鞝滊 炜犿彴鞚措倶 靸來櫂順� 靸來拡鞚� 鞎勲嫏雼堧嫟. 氩曥爜 鞙犿毃靹膘潃 雺挫爛歆� 氚� 雺挫殨 氩曤鞐� 霐半澕 John M. Cafiero 氩曤 瓿犽鞚� 頇曥澑頄堨溂氅�, PRU鞚� 鞛愲彊 靹犽皹 霌彪 氇呾劯靹�(韺岇澕 氩堩樃 333-277590)鞐� 韱淀暕霅橃柎 鞛堨姷雼堧嫟.
Prudential Financial, Inc. (PRU) a d茅pos茅 le Suppl茅ment Final de Prix n掳 24 pour deux nouvelles tranches senior non garanties InterNotes庐 totalisant 15,543 millions de dollars de principal agr茅g茅.
La premi猫re tranche (CUSIP 74432BBA5) porte un principal de 4,868 millions de dollars, un coupon fixe de 4,20%, des paiements d鈥檌nt茅r锚ts semestriels les 15 juin et 15 d茅cembre, et une 茅ch茅ance au 15 juin 2027. Elle est non remboursable par anticipation, cot茅e au pair (100,000%), avec une commission de vente de 0,550%, g茅n茅rant des produits nets de 4,841 millions de dollars.
La deuxi猫me tranche (CUSIP 74432BBB3) totalise 10,675 millions de dollars, offre un coupon fixe de 5,20%, aux m锚mes dates de paiement, et une 茅ch茅ance au 15 juin 2035. Cette obligation est remboursable 脿 100% du pair 脿 partir du 15 juin 2027 et 脿 chaque date d鈥檌nt茅r锚t ult茅rieure. Elle a 茅galement 茅t茅 cot茅e au pair avec une commission de vente de 1,800%, g茅n茅rant des produits nets de 10,483 millions de dollars.
Les deux tranches incluent une option de survie, sont 茅mises en coupures de 1 000 dollars, avec r猫glement en inscription en compte DTC le 26 juin 2025, et seront administr茅es par The Bank of New York (fiduciaire) et Citibank, N.A. (agent payeur/registre). InspereX LLC agit en tant qu鈥檃gent d鈥檃chat aux c么t茅s d鈥檜n syndicat comprenant BofA Securities, Citigroup, Morgan Stanley, RBC Capital Markets et Wells Fargo Advisors.
Les obligations sont au m锚me rang que la dette senior non garantie existante de PRU et ne sont ni des instruments 脿 coupon z茅ro ni amortissables. La validit茅 juridique est confirm茅e par le conseil John M. Cafiero selon les lois du New Jersey et de New York, telles qu鈥檌ncorpor茅es dans la d茅claration d鈥檈nregistrement automatique en 茅tag猫re de PRU (dossier n掳 333-277590).
Prudential Financial, Inc. (PRU) hat die Endg眉ltige Preisbekanntmachung Nr. 24 f眉r zwei neue Senior Unsecured InterNotes庐-Tranchen mit einem Gesamtnennwert von 15,543 Millionen US-Dollar eingereicht.
Die erste Tranche (CUSIP 74432BBA5) umfasst 4,868 Millionen US-Dollar Nennwert, einen festen Kupon von 4,20%, halbj盲hrliche Zinszahlungen am 15. Juni und 15. Dezember sowie eine F盲lligkeit am 15. Juni 2027. Sie ist nicht k眉ndbar, zum Nennwert (100,000%) bepreist, mit einem Verkaufskostenzuschlag von 0,550%, was Nettobetr盲ge von 4,841 Millionen US-Dollar generiert.
Die zweite Tranche (CUSIP 74432BBB3) bel盲uft sich auf 10,675 Millionen US-Dollar, bietet einen festen Kupon von 5,20%, identische Zahlungstermine und eine F盲lligkeit am 15. Juni 2035. Diese Schuldverschreibung ist ab dem 15. Juni 2027 und an jedem nachfolgenden Zinstermin zum Nennwert k眉ndbar. Sie wurde ebenfalls zum Nennwert mit einem Verkaufskostenzuschlag von 1,800% bepreist und erzielt Nettobetr盲ge von 10,483 Millionen US-Dollar.
Beide Tranchen enthalten eine Survivor-Option, werden in St眉ckelungen von 1.000 US-Dollar ausgegeben, die Abwicklung erfolgt am 26. Juni 2025 per DTC Buchbucheintrag, und sie werden von The Bank of New York (Treuh盲nder) und Citibank, N.A. (Zahlungsagent/Registrar) verwaltet. InspereX LLC fungiert als Kaufagent zusammen mit einem Konsortium, dem BofA Securities, Citigroup, Morgan Stanley, RBC Capital Markets und Wells Fargo Advisors angeh枚ren.
Die Schuldverschreibungen stehen pari passu mit den bestehenden unbesicherten Senior-Schulden von PRU und sind weder Nullkupon- noch tilgungsf盲hige Instrumente. Die rechtliche G眉ltigkeit wurde vom Rechtsberater John M. Cafiero nach New Jersey- und New Yorker Recht best盲tigt, wie in PRUs automatischer Shelf-Registrierungserkl盲rung (Aktenzeichen 333-277590) aufgenommen.
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Prudential Financial InterNotes®, Due Six Months or More from Date of Issue Filed under Rule 424(b)(2), Registration Statement No. 333-277590 Final Pricing Supplement No. 24 - Dated Monday, June 23, 2025. To Prospectus Dated March 1, 2024 and Prospectus Supplement dated August 5, 2024 Investors should read this pricing supplement in conjunction with the Prospectus and Prospectus Supplement. |
| CUSIP Number |
Aggregate Principal Amount |
Selling Price |
Gross Concession |
Net Proceeds |
Interest Type |
Interest Rate |
Payment Frequency |
Maturity Date |
1st Interest Payment Date |
1st Interest Payment Amount |
Survivor’s Option* |
Product Ranking | ||||||||||||
| 74432BBA5 |
$4,868,000.00 | 100.000% | 0.550% | $4,841,226.00 | Fixed | 4.200% | Semi-Annual | 06/15/2027 | 12/15/2025 | $19.72 | Yes | Senior Unsecured Notes | ||||||||||||
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We will pay you interest on the notes on a Semi-Annual basis on Jun 15th and Dec 15th. The first such payment will be made on Dec 15, 2025. The interest rate per annum and stated maturity date are set out above. The regular record dates for your notes are each business day preceding each date on which interest is paid.
Any notes sold by the selling agents to securities dealers, or by securities dealers to certain other brokers or dealers, may be sold at a discount from the initial selling price up to 0.2000% of the principal amount.
Redemption Information: Non-Callable
Purchasing Agent: InspereX LLC Agents: BofA / Merrill Lynch, Citigroup, Morgan Stanley, RBC Capital Markets, Wells Fargo Advisors
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74432BBB3 |
$10,675,000.00 | 100.000% | 1.800% | $10,482,850.00 | Fixed | 5.200% | Semi-Annual | 06/15/2035 | 12/15/2025 | $24.41 | Yes | Senior Unsecured Notes | ||||||||||||
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Subject to our redemption right, we will pay you interest on the notes on a Semi-Annual basis on Jun 15th and Dec 15th. The first such payment will be made on Dec 15, 2025. The interest rate per annum and stated maturity date are set out above. The regular record dates for your notes are each business day preceding each date on which interest is paid.
Any notes sold by the selling agents to securities dealers, or by securities dealers to certain other brokers or dealers, may be sold at a discount from the initial selling price up to 0.9000% of the principal amount.
Redemption Information: Callable at 100.000% on 06/15/2027 and every interest payment date thereafter.
This tranche of Prudential Financial, Inc. InterNotes (CUSIP 74432BBB3) will be subject to redemption at the option of Prudential Financial, Inc., in whole on the interest payment date occurring on 06/15/2027 and on any interest payment date thereafter at a redemption price equal to 100% of the principal amount of this tranche of Prudential Financial, Inc. InterNotes plus accrued and unpaid interest thereon, if any, upon at least 30 Calendar Days prior notice to the noteholder and the trustee, as described in the prospectus supplement.
Additional Information: The notes do not amortize and are not zero coupon or original discount notes.
Purchasing Agent: InspereX LLC Agents: BofA / Merrill Lynch, Citigroup, Morgan Stanley, RBC Capital Markets, Wells Fargo Advisors
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| Offering Date: Monday, June 16, 2025 through Monday, June 23, 2025 | Prudential Financial, Inc. | |
| Trade Date: Monday, June 23, 2025 @ 12:00 PM ET | Prudential Financial Internotes® | |
| Settle Date: Thursday, June 26, 2025 | Prospectus Dated March 1, 2024 and | |
| Minimum Denomination/Increments: $1,000.00/$1,000.00 | Prospectus Supplement Dated August 5, 2024 | |
| Initial trades settle flat and clear SDFS: DTC Book-Entry only | ||
| DTC Number 0235 via RBC Dain Rauscher Inc. | ||
If the maturity date, redemption date or an interest payment date for any note is not a business day (as that term is defined in the prospectus), principal, premium, if any, and interest for that note is paid on the next business day, and no interest will accrue from, and after, the maturity date, redemption date or interest payment date (following unadjusted business day convention).
* The survivor’s option feature of your note is subject to important limitations, restrictions and procedural requirements further described on page S-32 of your prospectus supplement.
The Bank of New York will act as trustee for the Notes. Citibank, N.A., will act as paying agent, registrar and transfer agent for the Notes and will administer any survivor’s options with respect thereto.
In the opinion of John M. Cafiero, as counsel to Prudential Financial, Inc. (the Company), when the notes offered by this pricing supplement have been executed and issued by the Company and authenticated by the trustee pursuant to the indenture, and delivered against payment as contemplated herein, such notes will be valid and binding obligations of the Company, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability related to affecting creditors’ rights and to general equity principles. This opinion is given as of the date hereof and is limited to the laws of New Jersey and New York. In addition, this opinion is subject to customary assumptions about the trustee’s authorization, execution and delivery of the indenture and the genuineness of signatures and to such counsel’s reliance on officers of the Compan and other sources as to certain factual matters, all as stated in the opinion of John M. Cafiero, dated August 5, 2024, filed in the Company’s Current Report on Form 8-K dated August 5, 2024 and incorporated by reference as Exhibit 5.2 to the Company’s registration statement on Form 3-ASR (File No. 333-277590).
InterNotes® is a registered trademark of InspereX Holdings LLC. All Rights Reserved.
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FAQ
What is the coupon rate on Prudential Financial note CUSIP 74432BBA5?
When do the 74432BBB3 InterNotes mature?
Are the new Prudential InterNotes callable?
What is the aggregate principal amount of the issuance?
What is the minimum investment denomination for these notes?
When will the first interest payment be made?
