Prudential prices InterNotes due 2031 & 2036
Prudential Financial, Inc. is offering InterNotes in two fixed-rate tranches that price at 100.000%.
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Rhea-AI Filing Summary
Prudential Financial, Inc. is offering InterNotes in two fixed-rate tranches that price at 100.000%. One tranche matures on 06/15/2031 with a stated interest rate of 4.600% and a first interest payment of $24.41 on 12/15/2026. A second tranche matures on 06/15/2036 with a stated interest rate of 5.100% and a first interest payment of $27.06 on 12/15/2026. The 2036 tranche is callable at 100.000% beginning 06/15/2028. Both tranches pay interest semi-annually on Jun 15 and Dec 15, settle 06/04/2026, and are sold through a purchasing agent and listed dealer agents.
Insights
Two fixed-rate InterNotes priced at par: one 06/15/2031, one 06/15/2036.
These are senior unsecured notes sold at 100.000% with semi-annual interest. The shorter tranche yields a stated coupon of 4.600%, the longer 5.100%. The 06/15/2036 tranche carries an issuer call option beginning 06/15/2028, priced at 100.000%.
Cash-flow treatment to investors is standard: semi-annual interest payments on specified dates and standard business-day adjustment. The offering mechanics show a purchasing agent and dealer concessions; prospectus and final pricing supplement will contain full mechanics and any limitations such as the survivor’s option details.
Features include survivor’s option and differing concession limits for each tranche.
Both tranches include a survivor’s option (subject to prospectus supplement limitations) and specify differing maximum concessions: up to 0.6000% for the 2031 tranche and up to 0.9000% for the 2036 tranche. The 2036 tranche is callable after 06/15/2028.
Investors should refer to the final pricing supplement and the prospectus supplement for survivor’s option mechanics and redemption notice periods; timing and specific issuer proceeds language are set by the selling arrangements described.
Key Figures
Key Terms
InterNotes financial
survivor's option financial
gross concession financial
book-entry regulatory
Offering Details
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What tranches did Prudential (PFH) offer in this InterNotes pricing supplement?
When do interest payments begin for the PFH InterNotes and how often are they paid?
Is either Prudential (PFH) tranche callable and when does the call start?
What selling price and concessions are specified for the PFH InterNotes?
What are the settlement and trade dates for the offering from Prudential (PFH)?
AI-generated analysis. How Rhea-AI works. Not financial advice.
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 26, 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. 42 - Dated Tuesday, May 26, 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 |
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 | ||||||||||||
| 74432BBX5 |
[] | 100.000% | 1.250% | [] | Fixed | 4.600% | Semi-Annual | 06/15/2031 | 12/15/2026 | $24.41 | 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 Dec 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: Academy Securities, Inc., BofA / Merrill Lynch, Citigroup, Morgan Stanley, RBC Capital Markets, Wells Fargo Advisors | ||||||||||||||||||||||||
| 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 | ||||||||||||
| 74432BBY3 |
[] | 100.000% | 1.800% | [] | Fixed | 5.100% | Semi-Annual | 06/15/2036 | 12/15/2026 | $27.06 | 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 Jun 15th and Dec 15th. The first such payment will be made on Dec 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 06/15/2028 and every interest payment date thereafter.
This tranche of Prudential Financial, Inc. InterNotes (CUSIP 74432BBY3) will be subject to redemption at the option of Prudential Financial, Inc., in whole on the interest payment date occurring on 06/15/2028 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: Tuesday, May 26, 2026 through Monday, June 1, 2026 |
Prudential Financial, Inc. | |
| Trade Date: Monday, June 1, 2026 @ 12:00 PM ET |
Prudential Financial Internotes® | |
| Settle Date: Thursday, June 4, 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.