Prudential Financial (NYSE:PRU) has priced their new $25 baby bonds announced this morning with a coupon of 5.625%. The issue is a large one with about 20,000,000 shares being offered
The issue has the typical terms with an optional redemption date in 2023–the maturity date is 2058. The issue is investment grade with anticipated rating of BBB+ from S&P.
Being debt the interest payments are not qualified distributions.