New Issue: Prudential Financial prices $1.5 billion 3.7% series E notes due 2051

Chicago, Sept. 10 – Prudential Financial, Inc. sold $1.5 billion of 3.7% series E medium-term notes due March 13, 2051 on Tuesday, according to an FWP filed with the Securities and Exchange Commission.

The notes (A3/A) priced at 99.318 to yield 3.737%, or Treasuries plus 155 basis points.

The securities feature a make-whole redemption prior to Sept. 13, 2050 at Treasuries plus 25 bps. After Sept. 13, 2050 the notes are redeemable at par.

Goldman Sachs & Co. LLC (bill and deliver), Barclays, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Mizuho Securities USA LLC, Wells Fargo Securities, LLC were the bookrunners.

The Newark, N.J., financial services company plans to use the proceeds for general corporate purposes.

Issuer:	Prudential Financial, Inc.
Amount:	$1.5 billion
Description:	Series E medium-term notes
Maturity:	March 13, 2051
Joint bookrunners:	Goldman Sachs & Co. LLC (bill and deliver), Barclays, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Mizuho Securities USA LLC and Wells Fargo Securities, LLC
Co-managers:	Natixis Securities Americas LLC, Scotia Capital (USA) Inc., SG Americas Securities, LLC, Williams Capital Group, LP, Academy Securities, Inc., CastleOak Securities, LP, Drexel Hamilton, LLC, R. Seelaus & Co., LLC and Samuel A. Ramirez & Co., Inc.
Coupon:	3.7%
Price:	99.318
Yield:	3.737%
Spread:	Treasuries plus 155 bps
Call features:	Make-whole call at Treasuries plus 25 bps until Sept. 13, 2050; thereafter at par
Trade date:	Sept. 10
Settlement date:	Sept. 13
Ratings:	Moody’s: A3
	S&P: A
Distribution:	SEC registered

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