Prudential Financial (PFH) offers 5.00% senior InterNotes® tranche

Rhea-AI Filing Summary

Prudential Financial, Inc. offers a tranche of Senior Unsecured InterNotes® with a 5.000% fixed annual interest rate and a stated maturity date of 05/15/2036. Interest is paid semi‑annually on May 15 and Nov 15, with the first payment on 11/15/2026 and a first interest payment amount of $24.17 per $1,000 denomination. The notes are callable at 100.000% beginning 05/15/2028 and on each interest payment date thereafter, subject to at least 30 calendar days' notice. The selling price shown is 100.000% with a gross concession of 1.800%. Trades: offering period May 11–18, 2026, trade date 05/18/2026, settle date 05/21/2026. This pricing supplement is subject to completion and the final pricing supplement must be delivered before sales occur.

Insights

Debt Capital Markets Analyst

5.00% fixed senior notes with early call from 2028; final terms pending.

The tranche is issued as Senior Unsecured InterNotes® carrying a 5.000% fixed coupon and callable at par on 05/15/2028 and thereafter. The selling price is shown at 100.000% with a 1.800% gross concession; aggregate principal amount is left blank in this excerpt.

Key dependencies include delivery of the final pricing supplement and prospectus documents that will set the aggregate size and final distribution details. Subsequent filings or the completed pricing supplement will clarify issuance size and allocation among agents.

Structured Products Specialist

Standard note mechanics: semiannual interest, DTC book‑entry settlement, survivor's option noted.

Notes pay semiannual interest with regular record dates and settle via DTC book‑entry; minimum denomination is $1,000. The excerpt references a survivor’s option with procedural limits described in the prospectus supplement.

Investors should consult the final pricing supplement for full terms including aggregate principal, distribution concessions, and procedural details for the survivor’s option and redemption mechanics.

Key Figures

Interest Rate: 5.000% per annum Selling Price: 100.000% Gross Concession: 1.800% +5 more

8 metrics

Interest Rate 5.000% per annum stated annual fixed rate

Selling Price 100.000% priced per $1,000 denomination

Gross Concession 1.800% concession listed in pricing supplement

Callable Date 05/15/2028 first date callable at 100.000%

Maturity Date 05/15/2036 stated maturity date

First Interest Payment $24.17 amount per $1,000 on 11/15/2026

Minimum Denomination $1,000 minimum and increments

Key Dates Offer May 11–18, 2026; Trade 05/18/2026; Settle 05/21/2026 offering, trade and settlement schedule

Key Terms

InterNotes®, survivor’s option, gross concession, DTC Book‑Entry

4 terms

InterNotes® financial

"This tranche of Prudential Financial, Inc. InterNotes (CUSIP 74432BBV9)"

survivor’s option financial

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

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.

gross concession financial

"The Purchasing Agent shall purchase notes from us at the selling price less the applicable gross concession"

DTC Book‑Entry technical

"Initial trades settle flat and clear SDFS: DTC Book-Entry only"

Offering Details

primary

Offering

Offering Type primary

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 May 11, 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. 40 - Dated Monday, May 11, 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

74432BBV9

[ ]

100.000%

1.800%

[ ]

Fixed

5.000%

Semi-Annual

05/15/2036

11/15/2026

$24.17

Yes

Senior Unsecured Notes

Subject to our redemption right, we will pay you interest on the notes on a Semi-Annual basis on May 15th and Nov 15th. The first such payment will be made on Nov 15, 2026. 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 05/15/2028 and every interest payment date thereafter. This tranche of Prudential Financial, Inc. InterNotes (CUSIP 74432BBV9) will be subject to redemption at the option of Prudential Financial, Inc., in whole on the interest payment date occurring on 05/15/2028 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, May 11, 2026 through Monday, May 18, 2026		Prudential Financial, Inc.
Trade Date: Monday, May 18, 2026 @ 12:00 PM ET		Prudential Financial Internotes®
Settle Date: Thursday, May 21, 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.

FAQ

What is the interest rate on Prudential Financial (PFH) InterNotes®?

The notes carry a fixed annual interest rate of 5.000%. Interest is paid semi‑annually on May 15 and November 15, with the first payment scheduled for 11/15/2026 and a stated first interest payment amount of $24.17 per $1,000 denomination.

When do Prudential InterNotes® mature and when are they callable?

The stated maturity date is 05/15/2036. Prudential may redeem this tranche in whole at 100.000% on 05/15/2028 and on any subsequent interest payment date, with at least 30 calendar days' notice to holders and the trustee.

What is the selling price and concessions for this note offering?

The selling price shown is 100.000%. The excerpt lists a gross concession of 1.800%; certain dealers may sell at a discount up to 0.9000% of principal when reselling to other brokers or dealers as described in the supplement.

How are trades and settlement scheduled for these notes?

The offering period is May 11–18, 2026, with a trade date of 05/18/2026. Settlement is scheduled for 05/21/2026 and initial trades settle flat through DTC book‑entry via the specified DTC participant.