Prudential offers 4.7%–5.4% notes due 2029–2036

Prudential Financial, Inc. (PFH) is offering multiple tranches of InterNotes under an automatically effective shelf registration.

Rhea-AI Filing Summary

Prudential Financial, Inc. (PFH) is offering multiple tranches of InterNotes under an automatically effective shelf registration. Each tranche is issued at 100.000% of principal as fixed-rate senior unsecured notes with semi-annual interest payments on March 15 and September 15, starting March 15, 2027.

The notes include: a 4.700% tranche maturing 09/15/2029 (first interest payment amount $24.02 per $1,000); a 5.050% tranche maturing 09/15/2031 (first payment $25.81); a 5.200% tranche maturing 09/15/2033 (first payment $26.58); and a 5.400% tranche maturing 09/15/2036, callable at 100.000% on 09/15/2028 and on any interest payment date thereafter (first payment $27.60). All tranches include a survivor’s option.

The offering period runs from August 31, 2026 through September 8, 2026, with a trade date of September 8, 2026 and settlement on September 11, 2026. Minimum denomination is $1,000. InspereX LLC acts as purchasing agent, with several major broker-dealers as agents, earning gross concessions between 0.825% and 1.800% of principal, depending on the tranche.

Key Figures

Coupon Rate (2029 Notes): 4.700% per annum Coupon Rate (2031 Notes): 5.050% per annum Coupon Rate (2033 Notes): 5.200% per annum +5 more

8 metrics

Coupon Rate (2029 Notes) 4.700% per annum Fixed-rate senior unsecured notes maturing 09/15/2029, interest semi-annual

Coupon Rate (2031 Notes) 5.050% per annum Fixed-rate senior unsecured notes maturing 09/15/2031, interest semi-annual

Coupon Rate (2033 Notes) 5.200% per annum Fixed-rate senior unsecured notes maturing 09/15/2033, interest semi-annual

Coupon Rate (2036 Notes) 5.400% per annum Callable fixed-rate senior unsecured notes maturing 09/15/2036

First Interest Payment Amount (2029 Notes) $24.02 per $1,000 First payment on 03/15/2027 for 4.700% tranche

First Interest Payment Amount (2036 Notes) $27.60 per $1,000 First payment on 03/15/2027 for 5.400% callable tranche

Gross Concession Range 0.825%–1.800% of principal Concessions to purchasing agent by tranche

Minimum Denomination $1,000.00 Minimum denomination and increment per note

Key Terms

InterNotes, Survivor’s Option, senior unsecured notes, gross concession, +1 more

5 terms

InterNotes financial

"This tranche of Prudential Financial, Inc. InterNotes"

Survivor’s Option financial

"The survivor’s option feature of your note is subject"

A survivor’s option is a built‑in choice in a pension, life insurance policy, or executive benefit that decides what a designated beneficiary receives if the primary recipient dies — for example a smaller continuing monthly payment, a one‑time lump sum, or continued coverage. It matters to investors because these options affect a company’s future cash obligations and the real value of executive pay; like choosing between a smaller steady income versus a one‑time payout, they change how much the company may owe later.

senior unsecured notes financial

"Yes | | Senior Unsecured Notes We will pay you interest"

Senior unsecured notes are a type of loan a company borrows from investors, promising to pay back with interest. They are called "unsecured" because they aren’t backed by specific assets like buildings or equipment, but "senior" because they are paid back before other debts if the company gets into trouble. Investors see them as a relatively safer way for companies to raise money.

gross concession financial

"up to 0.825% of the principal amount. Redemption"

business day convention financial

"following unadjusted business day convention"

Offering Details

shelf

Offering

Offering Type shelf

FAQ

What types of securities is Prudential Financial (PFH) offering in this 424B2?

Prudential Financial (PFH) is offering fixed-rate senior unsecured InterNotes in multiple tranches, each issued at 100.000% of principal, with semi-annual interest payments and maturities ranging from 2029 to 2036, all issued under an automatically effective shelf registration.

What are the interest rates and maturities of the new PFH InterNotes?

The InterNotes carry fixed coupons of 4.700% maturing 09/15/2029, 5.050% maturing 09/15/2031, 5.200% maturing 09/15/2033, and 5.400% maturing 09/15/2036. All pay interest semi-annually on March 15 and September 15.

When do the Prudential Financial (PFH) InterNotes start paying interest?

All the PFH InterNotes begin semi-annual interest payments on March 15, 2027, with subsequent payments on March 15 and September 15 each year. Regular record dates are each business day preceding an interest payment date.

Is any tranche of the PFH InterNotes callable, and on what terms?

Yes. The 5.400% InterNotes maturing 09/15/2036 (CUSIP 74432BCN6) are callable at 100.000% of principal on 09/15/2028 and on any interest payment date thereafter, plus accrued and unpaid interest, at Prudential Financial, Inc.’s option with at least 30 calendar days’ notice.

What is the offering period and settlement date for these PFH InterNotes?

The offering period runs from Monday, August 31, 2026 through Tuesday, September 8, 2026. The trade date is September 8, 2026 at 12:00 PM ET, and the notes are scheduled to settle on Friday, September 11, 2026 via DTC book-entry.

What concessions will intermediaries receive on the PFH InterNotes offering?

Gross concessions to the purchasing agent on the PFH InterNotes range from 0.825% to 1.800% of the principal amount, varying by tranche. Portions of these concessions may be reallowed to agents and selected dealers involved in distributing the notes.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/31/2026 - 04:12 PM Accepted by SEC EDGAR 08/31/2026 - 04:07 PM Learn about SEC filing dates

This pricing supplement, which is not complete, relates to an automatically effective Registration Statement under the Securities Act of 1933, as amended. We may not sell the notes until we deliver a final pricing supplement. This pricing supplement and the accompanying prospectus supplement and prospectus are not an offer to sell these notes in any jurisdiction where such an offer would not be permitted.

Subject to completion, dated August 31, 2026

Prudential Financial InterNotes® , Due Six Months or More from Date of Issue Filed under Rule 424(b)(2), Registration Statement No. 333-277590 Preliminary Pricing Supplement No. 49 - Dated Monday, August 31, 2026. 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

74432BCK2

[]

100.000%

0.825%

[]

Fixed

4.700%

Semi-Annual

09/15/2029

03/15/2027

$24.02

Yes

Senior Unsecured Notes

We will pay you interest on the notes on a Semi-Annual basis on Mar 15th and Sep 15th. The first such payment will be made on Mar 15, 2027. 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 0.3000% of the principal amount. Redemption Information: Non-Callable Purchasing Agent: InspereX LLC  Agents: Academy Securities, Inc., BofA / Merrill Lynch, Citigroup, Morgan Stanley, RBC Capital Markets, Wells Fargo Advisors

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

74432BCL0

[]

100.000%

1.250%

[]

Fixed

5.050%

Semi-Annual

09/15/2031

03/15/2027

$25.81

Yes

Senior Unsecured Notes

We will pay you interest on the notes on a Semi-Annual basis on Mar 15th and Sep 15th. The first such payment will be made on Mar 15, 2027. 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 0.6000% of the principal amount. Redemption Information: Non-Callable Purchasing Agent: InspereX LLC  Agents: Academy Securities, Inc., BofA / Merrill Lynch, Citigroup, Morgan Stanley, RBC Capital Markets, Wells Fargo Advisors

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

74432BCM8

[]

100.000%

1.450%

[]

Fixed

5.200%

Semi-Annual

09/15/2033

03/15/2027

$26.58

Yes

Senior Unsecured Notes

We will pay you interest on the notes on a Semi-Annual basis on Mar 15th and Sep 15th. The first such payment will be made on Mar 15, 2027. 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 0.6500% of the principal amount. Redemption Information: Non-Callable Purchasing Agent: InspereX LLC  Agents: Academy Securities, Inc., BofA / Merrill Lynch, Citigroup, Morgan Stanley, RBC Capital Markets, Wells Fargo Advisors

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

74432BCN6

[]

100.000%

1.800%

[]

Fixed

5.400%

Semi-Annual

09/15/2036

03/15/2027

$27.60

Yes

Senior Unsecured Notes

Subject to our redemption right, we will pay you interest on the notes on a Semi-Annual basis on Mar 15th and Sep 15th. The first such payment will be made on Mar 15, 2027. 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 09/15/2028 and every interest payment date thereafter. This tranche of Prudential Financial, Inc. InterNotes (CUSIP 74432BCN6) will be subject to redemption at the option of Prudential Financial, Inc., in whole on the interest payment date occurring on 09/15/2028 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: Academy Securities, Inc., BofA / Merrill Lynch, Citigroup, Morgan Stanley, RBC Capital Markets, Wells Fargo Advisors

Offering Date: Monday, August 31, 2026 through Tuesday, September 8, 2026		Prudential Financial, Inc.
Trade Date: Tuesday, September 8, 2026 @ 12:00 PM ET		Prudential Financial  Internotes®

Settle Date: Friday, September 11, 2026		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.

Notes will be sold to you at the selling price specified in this Pricing Supplement. The Purchasing Agent shall purchase notes from us at the selling price less the applicable gross concession specified in this Pricing Supplement. The Purchasing Agent may resell the notes it purchases to the agents and selected dealers at the selling price less a concession that, at the discretion of the Purchasing Agent, may be less than or equal to the gross concession received by the Purchasing Agent. Notes purchased by the agents and selected dealers on behalf of level-fee investment advisory accounts may be sold to such accounts at the selling price less the applicable concession, and such agents and selected dealers shall not retain, as compensation, any portion of such concession applicable to such selling agents and dealers. In that instance, the Purchasing Agent may retain the portion of the gross concession applicable to the Purchasing Agent.

InterNotes® is a registered trademark of InspereX Holdings LLC. All Rights Reserved.