Prudential to redeem $600 million 8.875% fixed-to-floaters due 2068

By Sarah Lizee

Olympia, Wash., Feb. 26 – Prudential Financial, Inc. issued a notice of redemption to redeem all of its $600 million 8.875% fixed- to floating-rate junior subordinated notes due 2068, according to a press release.

The notes will be redeemed on April 16 at a price equal to the greater of par and a redemption price that includes a make-whole premium, in each case plus accrued interest to the redemption date.

The Bank of New York Mellon is the trustee.

Prudential is a London-based life insurance and financial services company.

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