Prudential Financial to redeem 9.0% Junior Subordinated Notes due 2068
NEWARK, N.J -- May 07, 2013
Prudential Financial, Inc. (NYSE: PRU) today announced that it will redeem all
of its outstanding 9.0% Junior Subordinated Notes due 2068 (CUSIP/ISIN No.
744320508/ US7443205080) (NYSE: PHR) (the "Junior Notes") on June 15, 2013
(the "Redemption Date"). On the Redemption Date, a redemption price equal to
100% of the outstanding principal amount of the Junior Notes, or $25 per each
$25 note, will be payable by Prudential Financial to the holders of record as
of June 15, 2013. As of May 7, 2013, $920,000,000 aggregate principal amount
of Junior Notes were outstanding.
The Junior Notes are held only in book-entry form through The Depository Trust
Company ("DTC"). DTC will redeem the Junior Notes in accordance with its
procedures and notify the holders. Holders of the Junior Notes need not take
any action to receive payment of the redemption price.
This press release does not constitute a notice of redemption of the Junior
Notes. Holders of the Junior Notes should refer to the notice of redemption to
be delivered to the registered holders of the Junior Notes by The Bank of New
York Mellon, the trustee with respect to the Junior Notes.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with
approximately $1.061 trillion of assets under management as of March 31, 2013,
has operations in the United States, Asia, Europe and Latin America.
Prudential’s diverse and talented employees are committed to helping
individual and institutional customers grow and protect their wealth through a
variety of products and services, including life insurance, annuities,
retirement-related services, mutual funds and investment management. In the
U.S., Prudential’s iconic Rock symbol has stood for strength, stability,
expertise and innovation for more than a century. For more information, please
Prudential Financial, Inc.
Scot Hoffman, 973-802-2824
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