Pricing Supplement dated April 7, 2006 | Rule 424(b)(3) |
(To Prospectus dated September 26, 2003 and | File No. 333-108464 |
Prospectus Supplement dated September 26, 2003) | Cusip No.88319QJ53 |
Textron Financial Corporation
Medium-Term Notes, Series E
Due Nine Months or More from Date of Issue
Textron Financial Canada Funding Corporation
Medium-Term Notes, Series E-CAD
Due Nine Months or More from Date of Issue
Fully and Unconditionally Guaranteed
by
Textron Financial Corporation
Floating Rate
Issuer: Textron Financial Corporation
| |
Principal Amount: $25,000,000 | Initial Interest Rate: 5.14469% |
| |
Agent's Discount or Commission: $35,000 | Original Issue Date: April 12, 2006 |
| |
Net Proceeds to Issuer: $24,965,000.00 | Stated Maturity Date: April 12, 2009 |
| |
Interest Category
x | Regular Floating Rate Note |
|
o | Floating Rate/Fixed Rate Note |
| | Fixed Rate Commencement Date: |
| | Fixed Interest Rate: % |
|
o | Inverse Floating Rate Note |
| o | Fixed Interest Rate: % |
Interest Rate Basis or Bases:
| o | CD Rate | o | Federal Funds Rate | o | Prime Rate |
| o | CMT Rate | x | LIBOR | o | Other (see attached) |
| o | Commercial Paper Rate | o | Treasury Rate | | |
If LIBOR:
| o | LIBOR Reuters Page: |
| x | LIBOR Telerate Page: 3750 |
| LIBOR Currency: US$ |
If CMT Rate:
| CMT Telerate Page: |
| | o | Telerate Page 7051 |
| | o | Telerate Page 7052 |
| | | o | Weekly Average |
| | | o | Monthly Average |
Spread (+/-): +10 bps | Maximum Interest Rate: | % |
| | |
Spread Multiplier: N/A | Minimum Interest Rate: | % |
| | |
Index Maturity: 3 month | | |
| | |
Initial Interest Reset Date: July 12, 2006 | | |
Interest Reset Dates: Quarterly, on the 12th day of January, April, July and October |
|
Interest Payment Dates: Quarterly, on the 12th day of January, April, July and October |
|
Interest Determination Dates: Two London business days prior to each Interest Reset Date |
|
Regular Record Date(s): |
|
Calculation Agent (if other than SunTrust Bank): |
Day Count Convention:
| x | Actual/360 for the period from April 12, 2006 to April 12, 2009 |
| o | Actual/Actual for the period from _______ to _______ |
| o | 30/360 for the period from _______ to _______ |
Redemption:
| x | The Notes cannot be redeemed prior to the Stated Maturity Date. |
| o | The Notes can be redeemed prior to Stated Maturity Date |
| | Initial Redemption Date: |
| | Initial Redemption Percentage: ____% |
| | Annual Redemption Percentage Reduction: ____% until Redemption Percentage is 100% of the Principal Amount. |
Optional Repayment:
| x | The Notes cannot be repaid prior to the Stated Maturity Date. |
| o | The Notes can be repaid prior to the Stated Maturity Date at the option of the holder of the Notes. |
| | Optional Repayment Date(s): |
| | Optional Repayment Price(s): |
Specified Currency (if other than U.S. dollars): |
Authorized Denomination (if other than $1,000 and integral multiples thereof):
Exchange Rate Agent:
Original Issue Discount: o | Yes | x | No |
| Issue Price: | % | |
| | | | | | |
Total Amount of OID:
Initial Accrual Period OID:
Agent:
| o | Merrill Lynch, Pierce, Fenner & Smith Incorporated | o | HSBC Securities (USA) Inc. |
| o | Banc of America Securities LLC | x | J.P. Morgan Securities Inc. |
| o | Barclays Capital Inc. | o | Tokyo-Mitsubishi International plc |
| o | Citigroup Global Markets Inc. | o | UBS Securities LLC |
| o | Credit Suisse First Boston LLC | o | Wachovia Securities Inc. |
| o | Deutsche Bank Securities Inc. | o | Other: | | |
Agent acting in the capacity as indicated below:
If as Principal:
| o | The Notes are being offered at varying prices related to prevailing market prices at the time of resale. |
| o | The Notes are being offered at a fixed initial public offering price of ___% of the Principal Amount. |
If as Agent:
The Notes are being offered at a fixed initial public offering price of 100% of the Principal Amount.
Other provisions:
Terms are not completed for certain items above because such items are not applicable.