NEWARK, N.J.--(BUSINESS WIRE)--Feb. 26, 2018--
Prudential Financial, Inc. (the “Company”) (NYSE:PRU) announced today
that it issued a notice of redemption to redeem all of the $600,000,000
outstanding aggregate principal amount of its 8.875% Fixed-to-Floating
Rate Junior Subordinated Notes due 2068 (CUSIP/ISIN No. 744320AK8/
US744320AK85) (the "Notes"). The Notes will be redeemed on April 16,
2018 at a price equal to the greater of (i) 100% of the principal amount
of the Notes and (ii) a redemption price that includes a make-whole
premium which will be calculated in accordance with the terms of the
Notes and related indenture, in each case plus any accrued and unpaid
interest to the redemption date.
A notice of redemption is being sent to all currently registered holders
of the Notes by the trustee, The Bank of New York Mellon. For more
information, holders of the Notes may call The Bank of New York Mellon
This release does not constitute a notice of redemption of the Notes.
Certain of the statements included in this release constitute
forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking statements are
made based on management’s current expectations and beliefs concerning
future developments and their potential effects upon Prudential
Financial, Inc. and its subsidiaries. Prudential Financial, Inc.’s
actual results may differ, possibly materially, from expectations or
estimates reflected in such forward-looking statements. Certain
important factors that could cause actual results to differ, possibly
materially, from expectations or estimates reflected in such
forward-looking statements can be found in the “Risk Factors” and
“Forward-Looking Statements” sections included in Prudential Financial,
Inc.’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q.
Prudential Financial, Inc. does not undertake to update any particular
forward-looking statement included in this release.
Prudential Financial, Inc. (NYSE:PRU), a financial services leader with
more than $1 trillion of assets under management as of December 31,
2017, has operations in the United States, Asia, Europe, and Latin
America. Prudential’s diverse and talented employees are committed to
helping individual and institutional customers grow and protect their
wealth through a variety of products and services, including life
insurance, annuities, retirement-related services, mutual funds and
investment management. In the U.S., Prudential’s iconic Rock symbol has
stood for strength, stability, expertise and innovation for more than a
century. For more information, please visit news.prudential.com.
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Source: Prudential Financial, Inc.
Prudential Financial, Inc.