UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
___________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 3, 2020
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PRUDENTIAL FINANCIAL, INC.
(Exact name of registrant as specified in its charter)
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| New Jersey | 001-16707 | 22-3703799 |
| (State or other jurisdiction | (Commission | (I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |
751 Broad Street
Newark, NJ 07102
(Address of principal executive offices and zip code)
(973) 802-6000
(Registrant’s telephone number, including area code)
___________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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| Securities registered pursuant to Section 12(b) of the Act: |
| | |
| Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered |
| Common Stock, Par Value $.01 | PRU | New York Stock Exchange |
| 5.625% Junior Subordinated Notes | PRS | New York Stock Exchange |
| 4.125% Junior Subordinated Notes | PFH | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐
Item 2.02 Results of Operations and Financial Condition.
Prudential Financial, Inc. (the "Company") furnishes herewith, as Exhibit 99.1, a news release announcing third quarter 2020 results.
Item 7.01 Regulation FD Disclosure.
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| A. | Quarterly Financial Supplement. The Company furnishes herewith, as Exhibit 99.2, the Quarterly Financial Supplement for third quarter 2020. |
| B. | Conference Call and Related Materials. Members of the Company's senior management will hold a conference call on Wednesday, November 4, 2020 at 11:00 A.M. ET, to discuss the Company's third quarter 2020 results. Related materials are available on the Company's Investor Relations website at www.investor.prudential.com. |
Investors and others should note that the Company routinely uses its Investor Relations website to post presentations to investors and other important information, including information that may be deemed material to investors. Accordingly, the Company encourages investors and others interested in the Company to review the information that it shares at www.investor.prudential.com. Interested parties may register to receive automatic email alerts when presentations and other information are posted to the Investor Relations website by clicking on “Subscribe to Email Alerts" at www.investor.prudential.com and following the instructions provided.
Item 8.01 Other Events.
Discontinuing Sales of Variable Annuities
The Company announced today that effective December 31, 2020, it will discontinue sales of traditional variable annuities with guaranteed living benefits. This includes (i) discontinuing all new sales of the Prudential Premier Retirement, Prudential Premier Advisor and Prudential Defined Income variable annuities and benefit elections of Highest Daily Lifetime Income Benefits, Legacy Protection Plus (a Death Benefit) and Defined Income Benefit (available on the Prudential MyRock Advisor Variable Annuity) and (ii) restricting additional purchase payments into existing Prudential Defined Income variable annuities contracts with the Highest Daily Lifetime Income Benefits and Defined Income Benefit guaranteed living benefits.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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| Exhibit No. | | Description |
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| 104 | | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: November 3, 2020
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| PRUDENTIAL FINANCIAL, INC. |
| |
| By: | /s/ Robert D. Axel |
| | Name: Robert D. Axel
Title: Senior Vice President and Principal Accounting Officer |
