Prudential Financial Inc. is selling $400 million in principal amount of 4.418% series E medium-term notes and $600 million of 3.878% series E medium-term notes.
The notes are due March 27, 2048. Interest will be paid semiannually on each March 27 and Sept. 27, starting Sept. 27. Net proceeds, before expenses, are expected to be $396.5 million and $597.3 million, respectively.
The trade date is March 22 and the settlement date is March 27.
BNP Paribas Securities Corp., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC are the joint book runners.
MUFG Securities Americas Inc., Scotia Capital (USA) Inc., SMBC Nikko Securities America Inc., U.S. Bancorp Investments Inc., CastleOak Securities LP, Drexel Hamilton LLC, Mischler Financial Group Inc., Samuel A. Ramirez & Co. Inc., Siebert Cisneros Shank & Co. LLC and The Williams Capital Group LP are the co-managers.
J.P. Morgan Securities LLC is the the billing and delivery agent.