Truist issues $1.25B fixed-to-floating senior notes

Truist Financial Corporation is issuing $1,250,000,000 aggregate principal amount of 4.957% Fixed-to-Floating Rate Senior Notes due July 23, 2030 under its Medium-Term Notes, Series I program.

Rhea-AI Filing Summary

Truist Financial Corporation is issuing $1,250,000,000 aggregate principal amount of 4.957% Fixed-to-Floating Rate Senior Notes due July 23, 2030 under its Medium-Term Notes, Series I program. The notes are senior unsecured obligations, issued in book-entry form at 100.000% of principal.

From the July 23, 2026 issue date to the July 23, 2029 reset date, the notes pay a fixed rate of 4.957% per annum with semi-annual interest on January 23 and July 23. From the reset date to maturity, interest is paid quarterly at Compounded SOFR plus 87.5 basis points, using an Actual/360 day count.

Truist expects net proceeds of $1,248,875,000 before expenses, after a 0.090% underwriters’ discount. The company may redeem the notes at a make-whole price after 180 days from issuance and before the reset date, and at 100% of principal (plus accrued interest) on the reset date or on or after June 23, 2030. The notes are not bank deposits and are not insured by the FDIC or any government agency, and sales to EEA and UK retail investors are prohibited.

Key Figures

Aggregate Principal Amount: $1,250,000,000 Fixed Interest Rate: 4.957% per annum Floating Spread: 87.5 basis points +5 more

8 metrics

Aggregate Principal Amount $1,250,000,000 Total principal of 4.957% Fixed-to-Floating Rate Senior Notes due July 23, 2030

Fixed Interest Rate 4.957% per annum Coupon during the fixed rate period from Issue Date to July 23, 2029

Floating Spread 87.5 basis points Spread over Compounded SOFR during the floating rate period

Issue Price 100.000% Price to public as a percentage of principal amount

Underwriters’ Discount 0.090% Underwriting fee on the principal amount of the notes

Underwriters’ Discount (Dollar) $1,125,000 Total underwriters’ discount on $1,250,000,000 issuance

Net Proceeds $1,248,875,000 Net proceeds to Truist before expenses

Stated Maturity July 23, 2030 Scheduled maturity date of the notes

Key Terms

Compounded SOFR, Observation Period Shift, Optional Make-Whole Redemption, Business Day Convention, +2 more

6 terms

Compounded SOFR financial

"Base Rate | | Compounded SOFR with Observation Period Shift determined for each quarterly Interest Period"

Compounded SOFR is an interest rate benchmark calculated by taking the daily Secured Overnight Financing Rate (SOFR) values over a set period and combining them to produce a single effective interest rate for that period. Think of it like rolling up many tiny daily interest charges into one total bill for the month or quarter; it determines the actual interest owed on floating-rate loans, bonds, and derivatives. Investors care because it directly affects borrowing costs, cash flows and the value of interest-sensitive securities, and it is widely used as a replacement for older benchmark rates.

Observation Period Shift financial

"Compounded SOFR with Observation Period Shift determined for each quarterly Interest Period"

Optional Make-Whole Redemption financial

"Optional Make-Whole Redemption | | At any time after the date that is 180 days after the Issue Date"

Business Day Convention financial

"Business Day Convention | | With respect to the fixed rate period, Following Unadjusted Business Day convention"

PRIIPs Regulation regulatory

"no key information document required by Regulation (EU) No 1286/2014, as amended (the “PRIIPs Regulation”)"

The PRIIPs regulation is a set of rules designed to help individual investors understand the risks and potential rewards of complex financial products, such as investment funds and insurance-based investments. It requires providers to present clear, standardized information—similar to a nutrition label—so investors can compare options easily and make informed decisions. This regulation aims to increase transparency and protect consumers in the financial market.

U.S. Government Securities Business Day financial

"Interest Determination Dates | | With respect to each Interest Period during the floating rate period, the date two U.S. Government Securities Business Days"

Offering Details

shelf/medium-term note

Offering

Offering Type shelf/medium-term note

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are Truist Financial (TFC) investors being offered in this 424B2 note issuance?

Truist is offering $1,250,000,000 of senior unsecured notes due July 23, 2030. The notes pay a 4.957% fixed rate to July 23, 2029, then a floating rate of Compounded SOFR plus 87.5 bps through maturity.

What interest payments will Truist Financial (TFC) make on these new notes?

During the fixed period, interest is 4.957% per annum paid semi-annually on January 23 and July 23. During the floating period, interest is Compounded SOFR plus 87.5 bps paid quarterly on January 23, April 23, July 23 and October 23.

How much in net proceeds will Truist Financial (TFC) receive from this note offering?

Truist expects net proceeds of $1,248,875,000 before expenses. The notes are priced at 100.000% of principal, with an underwriters’ discount of 0.090% totaling $1,125,000 on the $1,250,000,000 issuance.

When and how can Truist Financial (TFC) redeem these 2030 notes?

Truist may redeem at a make-whole price any time after 180 days from issuance and before the reset date. It may also redeem at 100% of principal plus accrued interest on the reset date or on/after June 23, 2030 until maturity.

Are Truist Financial (TFC) 4.957% Fixed-to-Floating Notes insured or protected like deposits?

No. The notes are not savings accounts or deposits and are not insured or guaranteed by the FDIC or any other governmental agency. They are unsecured senior obligations of Truist Financial Corporation.

Can retail investors in the EEA or UK buy these new Truist Financial (TFC) notes?

No. The notes are not intended to be offered, sold or made available to retail investors in the EEA or the UK. Required PRIIPs or UK disclosure documents have not been prepared, so such retail offerings may be unlawful.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 07/21/2026 - 04:30 PM Accepted by SEC EDGAR 07/21/2026 - 04:16 PM Learn about SEC filing dates

Filed Pursuant to Rule 424(b)(2)
Registration No. 333-276600

PRICING SUPPLEMENT No. 9, dated July 20, 2026

(To prospectus, dated January 19, 2024, and

prospectus supplement, dated January 19, 2024)

TRUIST FINANCIAL CORPORATION

Medium-Term Notes, Series I (Senior)

This pricing supplement supplements the terms and conditions in the prospectus, dated January 19, 2024, as supplemented by the prospectus supplement, dated January 19, 2024 (together, the “prospectus supplement”), and should be read together with the prospectus supplement and the prospectus for additional information about the offering and sale of $1,250,000,000 aggregate principal amount of 4.957% Fixed-to-Floating Rate Senior Notes due July 23, 2030 (the “Notes”) of Truist Financial Corporation (“Truist” or the “Company”). Terms used but not defined herein shall have the respective meanings set forth in the prospectus supplement.

Key Terms		Fixed-to-Floating Rate Senior Notes
CUSIP / ISIN Nos.		89788MAZ5 / US89788MAZ59
Series		Series I (Senior)
Form of Note		Book-Entry
Principal Amount		$1,250,000,000
Trade Date		July 20, 2026
Issue Date		July 23, 2026 (T+3)
Stated Maturity		July 23, 2030
Reset Date		July 23, 2029
Distribution		Underwritten basis
Authorized Denominations		$2,000 and integral multiples of $1,000 in excess thereof
Issue Price (Dollar Amount and Percentage of Principal Amount)		$1,250,000,000 / 100.000%
Net Proceeds (Before Expenses) to the Company		$1,248,875,000
Interest Rate (and, if applicable, related Interest Periods)		☒ Fixed Rate Note (during the fixed rate period) ☐ CMT Rate Note ☐ Reuters Page FRBCMT ☐ Reuters Page FEDCMT ☐ One-Week ☐ One-Month ☐ Commercial Paper Rate Note ☐ CORRA Note ☐ EURIBOR Note ☐ Federal Funds Rate Note ☐ (effective) ☐ (open) ☐ (target) ☐ Prime Rate Note		☒ SOFR Note (during the floating rate period) ☒ Compounded SOFR Note with Observation Period Shift ☐ Compounded SOFR Index Note with Observation Period Shift ☐ SONIA Rate Note ☐ Compounded SONIA Rate Note with Observation Shift Convention ☐ Compounded SONIA Rate Note with Observation Lookback Convention ☐ Compounded SONIA Index Note with Compounded Index Convention ☐ Treasury Rate Note ☐ Zero Coupon Note ☐ Other Base Rate:
Fixed Rate Period		The period from, and including, the Issue Date to, but excluding, the Reset Date.
Floating Rate Period		The period from, and including the Reset Date to, but excluding, the Stated Maturity.
Fixed Interest Rate		During the fixed rate period, 4.957% per annum payable in arrears for each semi-annual Interest Period.
Floating Interest Rate		During the floating rate period, the Base Rate as determined on the applicable Interest Determination Date plus the Spread per annum payable in arrears for each quarterly Interest Period.
Base Rate		Compounded SOFR with Observation Period Shift determined for each quarterly Interest Period during the floating rate period in accordance with the specific formula and provisions described under “Description of Notes—Floating Rate Notes—Base Rates—SOFR” in the accompanying prospectus supplement.
Spread		+87.5 basis points
Spread Multiplier		Not applicable
Index Source		As published by SOFR administrator
Index Maturity		Daily
Interest Periods		With respect to the fixed rate period, each semi-annual period from, and including, an Interest Payment Date (or, in the case of the first Interest Period during the fixed rate period, the Issue Date) to, but excluding, the next Interest Payment Date (or, in the case of the final Interest Period during the fixed rate period, the Reset Date). With respect to the floating rate period, each quarterly period from, and including, an Interest Payment Date (or, in the case of the first Interest Period during the floating rate period, the Reset Date) to, but excluding, the next Interest Payment Date (or, in the case of the final Interest Period during the floating rate period, the Stated Maturity or earlier Redemption Date).

Interest Payment Dates		With respect to the fixed rate period, January 23 and July 23 of each year, commencing on January 23, 2027 and ending on the Reset Date. With respect to the floating rate period, January 23, April 23, July 23 and October 23 of each year, commencing on October 23, 2029 and ending on the Stated Maturity.
Regular Record Dates		15 calendar days prior to each Interest Payment Date.
Interest Determination Dates		With respect to each Interest Period during the floating rate period, the date two U.S. Government Securities Business Days preceding the applicable Interest Payment Date or redemption date, as applicable.
Interest Reset Dates		For the floating rate period, each Interest Payment Date.
Observation Period		With respect to each Interest Period during the floating rate period, the period from, and including, the date two U.S. Government Securities Business Days preceding the first date in such Interest Period to, but excluding, the date two U.S. Government Securities Business Days preceding the Interest Payment Date for such Interest Period, or redemption date, as applicable.
Maximum Interest Rate		Maximum rate permitted by New York law
Minimum Interest Rate		Zero
Day Count Convention		With respect to the fixed rate period, 30/360. With respect to the floating rate period, Actual/360.
Business Day		With respect to the fixed rate period, New York and Charlotte. With respect to the floating rate period, New York, Charlotte and U.S. Government Securities Business Day.
Business Day Convention		With respect to the fixed rate period, Following Unadjusted Business Day convention. With respect to the floating rate period, Modified Following Business Day convention.
Optional Make-Whole Redemption		At any time after the date that is 180 days after the Issue Date (or, if additional notes are issued, after the date that is 180 days after the Issue Date of such additional notes) and prior to the Reset Date (one year prior to the Stated Maturity), the Company may redeem the Notes at its option, in whole or in part, at any time and from time to time, at the Make-Whole Redemption Price as described under “Description of Notes—Redemption—Optional Make-Whole Redemption” in the accompanying prospectus supplement. Notice of any redemption will be provided at least 5 but not more than 60 calendar days before the redemption date to the registered holder of the Notes to be redeemed.
Make-Whole Spread		+15 basis points
Optional Redemption		The Company may redeem the Notes at its option, (a) in whole, but not in part, on the Reset Date, or (b) in whole at any time or in part from time to time, on or after June 23, 2030 (one month prior to the Stated Maturity) and prior to the Stated Maturity, in each case at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon to, but excluding, the redemption date. See “Description of Notes—Redemption” in the accompanying prospectus supplement. Notice of any redemption will be provided at least 5 but not more than 60 calendar days before the redemption date to the registered holder of the Notes to be redeemed.
Calculation Agent		U.S. Bank Trust Company, National Association
Original Issue Discount Notes		Not applicable
Prohibition of Sales to EEA and UK Investors		Applicable
Additional Terms		Not applicable

The Notes are not savings accounts, deposits or other obligations of a bank and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. The Notes are not secured.

Investing in the Notes involves risk. Potential purchasers of the Notes should consider the information set forth in the “Risk Factors” section beginning on page S-4 of the accompanying prospectus supplement and the discussion of risk factors contained in our annual and quarterly reports filed with the Securities and Exchange Commission (the “SEC”), which are incorporated by reference herein.

Neither the SEC nor any state securities commission has approved or disapproved of these securities or determined that this pricing supplement, the attached prospectus supplement or the attached prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

You should read this pricing supplement together with the accompanying prospectus supplement and prospectus, which can be accessed on the SEC website via the links below:

• Prospectus dated January  19, 2024

• Prospectus Supplement dated January 19, 2024

		Per Note(1)				Total
Price to Public			100.000	%		$	1,250,000,000
Underwriters’ Discount			0.090	%		$	1,125,000
Net Proceeds (Before Expenses) to Us			99.910	%		$	1,248,875,000

(1) Plus accrued interest, if any, from July 23, 2026, if settlement occurs after that date.

We expect to deliver the Notes to investors through the book-entry delivery system of The Depository Trust Company and its direct participants, including Clearstream Banking, S.A. and Euroclear Bank SA/NV, on or about July 23, 2026.

Joint Book-Running Managers

Truist Securities BofA Securities Goldman Sachs & Co. LLC TD Securities

Co-Managers

Ramirez & Co., Inc. Independence Point Securities

July 20, 2026

SUPPLEMENTAL PLAN OF DISTRIBUTION

Truist Securities, Inc., BofA Securities, Inc., Goldman Sachs & Co. LLC and TD Securities (USA) LLC are acting as joint book-running managers of the offering. Subject to the terms and conditions of a syndicated terms agreement, dated July 20, 2026 (the “terms agreement”), among us and the underwriters named below (the “underwriters”), incorporating the terms of a distribution agreement, dated as of January 19, 2024, among us and the agents named in the accompanying prospectus supplement, we have agreed to sell to the underwriters, and each of the underwriters has agreed, severally and not jointly, to purchase, as principal, the principal amount of Notes set forth opposite its name below:

Underwriter		Principal Amount of Notes
Truist Securities, Inc.		$	331,250,000
BofA Securities, Inc.			293,750,000
Goldman Sachs & Co. LLC			293,750,000
TD Securities (USA) LLC			293,750,000
Samuel A. Ramirez & Company, Inc.			18,750,000
Independence Point Securities LLC			18,750,000
Total		$	1,250,000,000

We expect that delivery of the Notes will be made against payment therefor on or about the closing date specified on the cover page of this pricing supplement, which will be on the third business day following the date the Notes are priced (such settlement being referred to as “T+3”). Under Rule 15c6-1 of the Exchange Act, trades in the secondary market generally are required to settle in one business day, unless the parties to a trade expressly agree otherwise. Accordingly, purchasers who wish to trade the Notes prior to the business day before delivery of the Notes will be required, by virtue of the fact that the Notes initially will settle in T+3, to specify alternative settlement arrangements to prevent a failed settlement.

See “Plan of Distribution (Conflicts of Interest)” in the accompanying prospectus supplement for additional information.

Selling Restrictions

PROHIBITION OF SALES TO EEA RETAIL INVESTORS – The Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the European Economic Area (the “EEA”). For these purposes: a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, “MiFID II”); or (ii) a customer within the meaning of Directive (EU) 2016/97, as amended (the “Insurance Distribution Directive”), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in the Regulation (EU) 2017/1129, as amended. Consequently, no key information document required by Regulation (EU) No 1286/2014, as amended (the “PRIIPs Regulation”) for offering or selling the Notes or otherwise making them available to retail investors in the EEA has been prepared and, therefore, offering or selling the Notes or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation.

PROHIBITION OF SALES TO UK RETAIL INVESTORS – The Notes are not intended to be offered, sold, distributed or otherwise made available to and should not be offered, sold, distributed or otherwise made available to any retail investor in the United Kingdom. For these purposes, a retail investor means a person who is either one (or both) of the following: (i) not a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018, as amended (the “EUWA”); or (ii) not

PS-3

a qualified investor as defined in paragraph 15 of Schedule 1 to The Public Offers and Admissions to Trading Regulations 2024. Consequently, no disclosure document required by the FCA Product Disclosure Sourcebook (“DISC”) for offering, selling or distributing the Notes or otherwise making them available to retail investors in the United Kingdom has been prepared and, therefore, offering, selling or distributing the Notes or otherwise making them available to any retail investor in the United Kingdom may be unlawful under DISC and the Consumer Composite Investments (Designated Activities) Regulations 2024.

PS-4

LEGAL MATTERS

The validity of the Notes offered hereby and certain other legal matters will be passed upon for us by Mayer Brown LLP. Sullivan & Cromwell LLP, New York, New York, will pass upon certain matters for the underwriters.

PS-5