Prudential Financial (NYSE: PFH) issues 4.20% senior unsecured notes maturing 2030
Rhea-AI Filing Summary
Prudential Financial, Inc. is offering $77,658,000 of fixed-rate senior unsecured notes due December 15, 2030. The notes carry a 4.200% annual interest rate and are priced at 100.000% of principal, with net proceeds to the company of $76,687,275.00 after a 1.250% gross concession.
Interest will be paid semi-annually on June 15 and December 15, starting on June 15, 2026, with an initial interest payment amount of $19.72 per $1,000 note. The notes are non-callable and include a survivor’s option feature subject to limitations described in the prospectus supplement.
The offering period runs from December 15, 2025 through December 22, 2025, with a trade date of December 22, 2025 and settlement on December 26, 2025. The minimum denomination is $1,000. The Bank of New York acts as trustee, and Citibank, N.A. serves as paying agent, registrar and transfer agent.
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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 Final Pricing Supplement No. 37 - Dated Monday, December 22, 2025. 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 |
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 | ||||||||||||
| 74432BBS6 |
$77,658,000.00 | 100.000% | 1.250% | $76,687,275.00 | Fixed | 4.200% | Semi-Annual | 12/15/2030 | 06/15/2026 | $19.72 | Yes | Senior Unsecured Notes | ||||||||||||
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We will pay you interest on the notes on a Semi-Annual basis on Jun 15th and Dec 15th. The first such payment will be made on Jun 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 0.6000% of the principal amount.
Redemption Information: Non-Callable
Purchasing Agent: InspereX LLC Agents: BofA / Merrill Lynch, Citigroup, Morgan Stanley, RBC Capital Markets, Wells Fargo Advisors
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| Offering Date: Monday, December 15, 2025 through Monday, December 22, 2025 | Prudential Financial, Inc. | |
| Trade Date: Monday, December 22, 2025 @ 12:00 PM ET | Prudential Financial Internotes® | |
| Settle Date: Friday, December 26, 2025 | 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.
In the opinion of John M. Cafiero, as counsel to Prudential Financial, Inc. (the Company), when the notes offered by this pricing supplement have been executed and issued by the Company and authenticated by the trustee pursuant to the indenture, and delivered against payment as contemplated herein, such notes will be valid and binding obligations of the Company, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability related to affecting creditors’ rights and to general equity principles. This opinion is given as of the date hereof and is limited to the laws of New Jersey and New York. In addition, this opinion is subject to customary assumptions about the trustee’s authorization, execution and delivery of the indenture and the genuineness of signatures and to such counsel’s reliance on officers of the Compan and other sources as to certain factual matters, all as stated in the opinion of John M. Cafiero, dated August 5, 2024, filed in the Company’s Current Report on Form 8-K dated August 5, 2024 and incorporated by reference as Exhibit 5.2 to the Company’s registration statement on Form 3-ASR (File No. 333-277590).
InterNotes® is a registered trademark of InspereX Holdings LLC. All Rights Reserved.
FAQ
What notes is Prudential Financial (PFH) offering in this document?
Prudential Financial, Inc. is offering senior unsecured notes with an aggregate principal amount of $77,658,000.00. These notes are part of its Prudential Financial Internotes® program and are issued as fixed-rate debt obligations of the company.
What are the key terms of the Prudential Financial (PFH) notes, including interest rate and maturity?
The notes bear a 4.200% fixed annual interest rate and mature on December 15, 2030. Interest is paid on a semi-annual basis every June 15 and December 15, with the first interest payment scheduled for June 15, 2026.
At what price are the Prudential Financial (PFH) notes being sold and what proceeds will the company receive?
The notes are sold at a 100.000% selling price of principal. After a 1.250% gross concession, Prudential Financial expects to receive net proceeds of $76,687,275.00 from the $77,658,000 aggregate principal amount.
When is the offering, trade, and settlement period for these Prudential Financial (PFH) notes?
The offering period runs from Monday, December 15, 2025 through Monday, December 22, 2025. The trade date is Monday, December 22, 2025 at 12:00 PM ET, and the settlement date is Friday, December 26, 2025.
Is there a survivor’s option on the Prudential Financial (PFH) notes and are there any limitations?
Yes, the notes include a survivor’s option, allowing certain redemptions upon the death of a beneficial owner. This feature is subject to important limitations, restrictions and procedural requirements described on page S-32 of the prospectus supplement.
Are the Prudential Financial (PFH) notes callable and what is the minimum investment size?
The notes are described as Non-Callable, meaning they are not redeemable at the issuer’s option before maturity. The minimum denomination is $1,000.00, with increments of $1,000.00.
Who are the key parties involved in the Prudential Financial (PFH) note issuance and distribution?
The Bank of New York acts as trustee for the notes, while Citibank, N.A. serves as paying agent, registrar and transfer agent and administers survivor’s options. InspereX LLC is the purchasing agent, and agents include BofA / Merrill Lynch, Citigroup, Morgan Stanley, RBC Capital Markets and Wells Fargo Advisors.
