Prudential pricing supplement for 5.00% senior notes
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.
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.
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Insights
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.
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
Key Terms
InterNotes® financial
survivor’s option financial
gross concession financial
DTC Book‑Entry technical
Offering Details
FAQ
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What is the interest rate on Prudential Financial (PFH) InterNotes®?
When do Prudential InterNotes® mature and when are they callable?
What is the selling price and concessions for this note offering?
How are trades and settlement scheduled for these notes?
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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
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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 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 | ||||||||||||
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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
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| 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 |
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| DTC Number 0235 via RBC Dain Rauscher Inc. |
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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.