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Prudential Financial, Inc., 4.125% Junior Subordinated Notes due 9/1/2060
Ticker Symbol: PFH CUSIP: 744320888 Exchange: NYSE
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Prudential Financial, Inc., 4.125% Junior Subordinated Notes due 2060, issued in $25 denominations, redeemable at the issuer's option on or after 09/01/2025 at $25 per note plus accrued and unpaid interest, and maturing 09/01/2060. Interest distributions of 4.125% per annum ($1.03 per annum or $0.2575 per quarter) will be paid quarterly on 3/1, 6/1, 9/1 & 12/1 to holders of record as they appear on the books on the record dates fixed by the board (NOTE: the ex-dividend date is one business day prior to the record date). Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders The issuer may redeem the notes at any time prior to 09/01/2025, within 90 days after the occurrence of a tax event, a rating agency event or a regulatory capital event, at $25 (100%) plus accrued and unpaid interest (i) in the case of a tax event or a regulatory capital event, at $25 (100%) plus accrued and unpaid interest or (ii) in the case of a rating agency event, at $25.50 (102%) plus accrued and unpaid interest. The issuer has the right to defer the payment of interest on the notes for one or more consecutive interest periods that do not exceed five years (see prospectus for further information). In the event the notes are treated as Tier 2 capital, any redemption of notes will be subject to our receipt of any required prior approval from any capital regulator (see prospectus for further information). This security was rated as Baa1 by Moody’s and BBB+ by S&P at the date of its IPO. The Notes are unsecured, junior subordinated obligations of the company and are unsecured, subordinated obligations of the company and will rank junior to the company's senior debt, junior to unsecured, subordinated indebtedness of the company and will rank equally with all existing and future unsecured, junior subordinated of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (PRU)
Notes: The 4.125% Junior Subordinated Notes were issued on 8/18/2020 and are expected to begin trading on the NYSE within 30 days of their issue date. The shares may start interim trading on the Other OTC market but we are not aware that they have done so to date.
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IPO - 8/18/2020 - 20.00 Million Notes @ $25/note.
Link to IPO Prospectus
Market Value $ Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 751 Broad Street, Newark, NJ 07102 |
| Main Phone Number |
973-802-6000 |
| Fax Number |
Not Available |
| Investor Relations
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877-998-7625
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| Toll Free Phone Number |
877-998-7625 |
| CEO - Charles F. Lowrey |
CFO - Ken Tanji |
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