Every 424B that Lincoln Natl Corp Ind (LNC) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow LNC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full LNC filings page.
Lincoln National Corporation is offering $500,000,000 of 6.800% Fixed-to-Fixed Reset Rate Subordinated Notes due July 15, 2056. Interest is fixed at 6.800% from issuance through July 15, 2036, then resets every five years to the five-year Treasury rate plus 2.400%. Interest is payable semi-annually on January 15 and July 15, beginning January 15, 2027, and the issuer may defer interest for up to five consecutive years per deferral period. The notes are unsecured, subordinated obligations ranking pari passu with existing subordinated notes and junior to senior indebtedness; proceeds (approximately $493 million net) are for general corporate purposes, potentially including repurchase/redemption of specified preferred stock.
Lincoln National Corporation intends to offer fixed-to-fixed reset rate subordinated notes due July 15, 2056 pursuant to a preliminary prospectus supplement dated June 24, 2026. The notes bear a fixed rate until an initial interest reset date of July 15, 2036, then reset every five years to the five-year Treasury rate plus a spread. The notes are unsecured and subordinated, will rank pari passu with certain existing subordinated indebtedness, and will be structurally subordinated to liabilities of LNC’s subsidiaries. The issuer may defer interest payments for up to five years for a single deferral period and may redeem the notes under specified circumstances. Net proceeds are planned for general corporate purposes, which may include repurchase or redemption of specified preferred stock series.
Lincoln National Corporation is offering to exchange up to $500,000,000 aggregate principal amount of its outstanding 2.330% Senior Notes due 2030 (originally issued on May 15, 2025) for a like principal amount of registered notes having substantially the same terms.
The Exchange Notes will be issued under the same Indenture, will evidence the same indebtedness, and will be freely transferable; the Outstanding Notes remain subject to transfer restrictions unless exchanged. The Exchange Offer is voluntary, open through March 27, 2026 (5:00 p.m. New York time), and the issuer will receive no cash proceeds from the exchange.
Lincoln National Corporation is offering $500,000,000 aggregate principal amount of 5.350% Senior Notes due November 15, 2035. The notes price at 99.922% with a 0.65% underwriting discount, for gross proceeds of $499,610,000 and proceeds to the issuer before expenses of $496,360,000. The company estimates net proceeds of approximately $494.6 million after expenses.
Interest accrues from November 10, 2025 and is payable semi-annually on May 15 and November 15, commencing May 15, 2026. The notes are senior unsecured obligations ranking pari passu with Lincoln’s other unsecured unsubordinated debt and will be issued in $2,000 denominations (and $1,000 multiples). They are not being listed, and there is currently no public market.
Lincoln intends to use a portion of the net proceeds to repay its 3.625% Senior Notes due 2026, of which $400 million was outstanding, on or before maturity, with the remainder for general corporate purposes, which may include repayment of other debt. The notes may be redeemed at the issuer’s option: at a make‑whole price prior to August 15, 2035, and at 100% of principal on or after that date, in each case plus accrued interest.
Lincoln National Corporation plans a primary offering of senior unsecured notes due 2035 under its shelf registration. The notes pay interest semi‑annually in May and November and will rank equally with the company’s other unsecured unsubordinated debt. The company may redeem the notes before maturity as described under “Optional Redemption.”
LNC expects to use a portion of the net proceeds to repay its 3.625% Senior Notes due 2026, of which $400 million was outstanding as of the date hereof, with any remainder for general corporate purposes. The notes will be issued in minimum denominations of $2,000 and integral multiples of $1,000, in book‑entry form through DTC, Clearstream, or Euroclear. No exchange listing is intended, and an active trading market may not develop.
As a holding company, LNC’s obligations are effectively subordinated to liabilities of its subsidiaries; subsidiary liabilities were $182.7 billion as of September 30, 2025.