Prudential Financial plans 60-year junior subordinated notes priced at $25

By Andrea Heisinger

Omaha, June 23 - Prudential Financial Inc. announced Monday it will price an issue of junior subordinated notes, according to a 424B2 filing with the Securities and Exchange Commission.

The notes have a scheduled maturity of June 15, 2038, with final maturity in 2068.

They will be priced at $25 and callable on or after June 15, 2013.

Bookrunners are Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Inc., Morgan Stanley & Co., Inc., UBS Investment Bank and J.P. Morgan Securities Inc.

Co-managers are Banc of America Securities LLC and RBC Capital Markets.

Proceeds will be used for general corporate purposes and to fund a previously authorized share repurchase program.

The insurance and financial services company is based in Newark, N.J.

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