Prudential Financial Prices Baby Bonds

Prudential Financial (PRU) has priced the previously announced issue of baby bond.

The issue prices at 5.95%, somewhat below early ‘price talk’. The 12 million shares (bonds) will have an optional redemption available to the company in 2027 with maturity in 2062.

The issue is strongly investment grade.

There will be no OTC trading, but the issue should trade on the NYSE in a week or 10 days.

The pricing term sheet can be found here.

8 thoughts on “Prudential Financial Prices Baby Bonds”

    1. It has not been assigned afaik. In any case, it’s still showing as CUSIP 744320870 at Schwab.

    2. The Prudential notes notes are scheduled to list on the NYSE on Friday 8/19/2022 under the ticker PRH Cusip 744320870

    3. PRH trading now at Merrill and Schwab. 25 and high teens. Got some filled @ $25.18

  1. Thanks Dick, I followed in your keystrokes and was able to get it at 25.50 also. Took a little time. Also at Schwab.

  2. I bought 500 shares this morning through Schwab’s fixed income desk for $25.50 per share.

    1. Dick,
      500 of the new one, or PRS, an older one? If the former, how did you do it, you have is ticker, or by cusip?

      1. 500 of the new one…which I think is a better buy than PRS at the moment.

        I called it in (800-626-4600) and gave them the CUSIP. They submit a request for a bid and give you a reference number. It’s not too difficult to do. Best of luck!

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