Prudential (PFH) sells $10M 4.65% Senior Notes due 05/15/2031
Rhea-AI Filing Summary
Prudential Financial, Inc. is offering $10,000,000 aggregate principal of Senior Unsecured Notes at a selling price of 100.000% under a pricing supplement to the Prospectus dated March 1, 2024 (supplement dated August 5, 2024). The notes pay interest at 4.650% per annum semi‑annually, mature on 05/15/2031, and make their first interest payment on 11/15/2026 with a first payment amount of $21.44 per $1,000 denomination. The offering period runs May 18–26, 2026 with trade date May 26, 2026 and settle date May 29, 2026. The pricing supplement discloses a gross concession of 1.250% and net proceeds of $9,875,000. The notes are non‑callable and include a survivor’s option subject to limitations described in the prospectus supplement.
Positive
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Insights
Fixed‑rate note issuance sized at $10.0M with 4.65% coupon and 2031 maturity.
The pricing supplement shows a standard intermediate‑term, senior unsecured debt issuance with a 4.650% fixed coupon paid semi‑annually and an aggregate principal amount of $10,000,000. The notes are non‑callable, which fixes the company’s interest cost through the 05/15/2031 maturity.
Execution details include a $9,875,000 net proceed estimate after a 1.250% gross concession and settlement on 05/29/2026. Further investor terms (including the survivor’s option limitations) are described in the prospectus supplement.
Offering mechanics show dealer concessions and purchasing agent resale arrangements.
The supplement specifies a gross concession of 1.250% and that the Purchasing Agent may resell to agents and selected dealers at concessions the Purchasing Agent determines. Notes sold to advisory accounts may be priced with reduced or no retained concession by selling agents.
Cash‑flow treatment to the issuer versus selling agents is detailed: the Purchasing Agent purchases from the issuer at the selling price less concession and then allocates concessions according to the described distribution mechanics.
Key Figures
Key Terms
Survivor’s Option financial
Gross Concession market
Purchasing Agent regulatory
Indenture legal
DTC Book‑Entry market
Offering Details
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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. 41 - 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 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 | ||||||||||||
| 74432BBW7 |
$10,000,000.00 | 100.000% | 1.250% | $9,875,000.00 | Fixed | 4.650% | Semi-Annual | 05/15/2031 | 11/15/2026 | $21.44 | Yes | Senior Unsecured Notes | ||||||||||||
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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 0.6000% 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
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| Offering Date: Monday, May 18, 2026 through Tuesday, May 26, 2026 |
Prudential Financial, Inc. | |
| Trade Date: Tuesday, May 26, 2026 @ 12:00 PM ET |
Prudential Financial Internotes® | |
| Settle Date: Friday, May 29, 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.
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.