Prudential Financial, Inc. to Redeem 5.625% Fixed-to-Floating Rate Junior Subordinated Notes due 2043

NEWARK, N.J.--(BUSINESS WIRE)-- Prudential Financial, Inc. (NYSE: PRU) announced today that it will redeem all of the $1,500,000,000 outstanding aggregate principal amount of its 5.625% Fixed-to-Floating Rate Junior Subordinated Notes due 2043 (CUSIP/ISIN No. 744320AM4 / US744320AM42) (the “Notes”). The Notes will be redeemed on June 15, 2023 at a redemption price equal to 100% of the principal amount of the Notes, plus accrued and unpaid interest to, but excluding, 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 at 1-800-254-2826.

This release does not constitute a notice of redemption of the Notes.

FORWARD-LOOKING STATEMENTS

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 global financial services leader and premier active global investment manager with approximately $1.4 trillion in assets under management as of December 31, 2022, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees help make lives better and create financial opportunity for more people by expanding access to investing, insurance, and retirement security. Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for nearly 150 years. For more information, please visit news.prudential.com.

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MEDIA: YeaJin Lee, yeajin.lee@prudential.com

Source: Prudential Financial, Inc.