Prudential may use new notes to redeem subordinated notes due 2044

Chicago, March 1 – Prudential Financial, Inc. may use a new offering of junior subordinated notes to redeem its existing $500 million 5.2% fixed-to-fixed reset junior subordinated notes due in 2044, according to a press release from AM Best, which rated the new offering.

The existing notes are callable in 2024.

Prudential is a Newark, N.J.-based holding company. Its subsidiaries and affiliates offer financial products and services, including life insurance, annuities, retirement-related products and services, mutual funds and investment management.

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