Prudential Financial (NYSE: PFH) prices $8.06M InterNotes, callable 2028

Rhea-AI Filing Summary

Prudential Financial, Inc. is offering a tranche of InterNotes with an aggregate principal amount of $8,056,000.00 at a selling price of 100.000%. The notes pay interest at 4.650% per annum, with semi-annual payments beginning on 08/15/2026, mature on 02/15/2036, and are callable in whole at 100.000% on 02/15/2028 and on each interest payment date thereafter. The pricing shows a gross concession of 1.800% and net proceeds of $7,910,992.00. The notes are senior unsecured and sold in minimum increments of $1,000.00, DTC book-entry only.

Insights

Capital Markets Structuring Analyst

Priced senior unsecured notes with a fixed 4.650% coupon and callable feature.

The offering lists an aggregate principal amount of $8,056,000.00 sold at 100.000% with semi-annual interest payments starting on 08/15/2026. Redemption is allowed at par beginning on 02/15/2028, per the supplement.

Key dependencies include the trustee and paying agent mechanics, the survivor's option limitations described on page S-32, and distribution through the listed agents. Cash-flow treatment to the issuer is standard for a note issuance; timing and exercise of the call depend on future decisions.

Fixed Income Legal Counsel

Legal opinion and customary bankruptcy-related qualifications accompany issuance.

The pricing supplement references counsel opinion that the notes, when authenticated and delivered, will be valid obligations subject to bankruptcy, insolvency and related laws. The trustee is The Bank of New York and paying/transfer agent duties are assigned to Citibank, N.A.

Investors should note the prospectus and supplement provisions that limit the survivor's option and define business-day conventions and redemption notice periods; procedural qualifiers are preserved verbatim in the supplement.

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. 38 - Dated Monday, February 23, 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

74432BBT4

$8,056,000.00

100.000%

1.800%

$7,910,992.00

Fixed

4.650%

Semi-Annual

02/15/2036

08/15/2026

$21.83

Yes

Senior Unsecured Notes

Subject to our redemption right, we will pay you interest on the notes on a Semi-Annual basis on Feb 15th and Aug 15th. The first such payment will be made on Aug 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 02/15/2028 and every interest payment date thereafter. This tranche of Prudential Financial, Inc. InterNotes (CUSIP 74432BBT4) will be subject to redemption at the option of Prudential Financial, Inc., in whole on the interest payment date occurring on 02/15/2028 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, February 17, 2026 through Monday, February 23, 2026		Prudential Financial, Inc.
Trade Date: Monday, February 23, 2026 @ 12:00 PM ET		Prudential Financial Internotes®
Settle Date: Thursday, February 26, 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.

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 is the principal amount and selling price of the PFH InterNotes offering?

The tranche has an aggregate principal amount of $8,056,000.00 sold at 100.000%. The pricing supplement shows the selling price at 100.000% and net proceeds of $7,910,992.00, with minimum denominations of $1,000.00.

What coupon, payment schedule, and maturity apply to these Prudential notes?

The notes pay a fixed coupon of 4.650% per annum with semi-annual payments. Interest is paid each Feb 15 and Aug 15, first payment on 08/15/2026, and maturity is on 02/15/2036.

When can Prudential call the InterNotes and at what price?

The notes are callable in whole at 100.000% beginning on Feb 15, 2028. The supplement states redemption may occur on 02/15/2028 and any interest payment date thereafter at a redemption price equal to 100% of principal plus accrued interest.

Who are the agents, trustee, and paying agent for this offering (PFH)?

The Purchasing Agent is InspereX LLC; agents include Academy Securities, BofA/Merrill, Citigroup, Morgan Stanley, RBC, and Wells Fargo. The trustee is The Bank of New York and Citibank, N.A. serves as paying agent, registrar, and transfer agent.