Pricing Supplement dated May 24, 2006 (To Prospectus dated September 26, 2003 and Prospectus Supplement dated September 26, 2003) | Rule 424(b)(2) |
File No. 333-108464 | |
Cusip No.88319QJ61 |
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: $100,000,000 | Initial Interest Rate: to be determined * |
Agent's Discount or Commission: $100,000 | Original Issue Date: June 2, 2006 |
Net Proceeds to Issuer: $99,900,000 | Stated Maturity Date: June 2, 2008 |
Interest Category
[ X ] Regular Floating Rate Note |
[ ] Floating Rate/Fixed Rate Note Fixed Rate Commencement Date:
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[ ] Inverse Floating Rate Note [ ] Fixed Interest Rate: % |
Interest Rate Basis or Bases:
[ ] CD Rate | [ ] Federal Funds Rate | [ ] Prime Rate |
[ ] CMT Rate | [ X ] LIBOR | [ ] Other (see attached) |
[ ] Commercial Paper Rate | [ ] Treasury Rate |
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If LIBOR:
[ ] LIBOR Reuters Page: |
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[ X ] LIBOR Telerate Page: 3750 |
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LIBOR Currency: US$ |
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If CMT Rate:
CMT Telerate Page: [ ]Telerate Page 7051 [ ]Telerate Page 7052 [ ]Weekly Average [ ]Monthly Average |
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Spread (+/-): +3 bps | Maximum Interest Rate: % |
Spread Multiplier: N/A | Minimum Interest Rate: % |
Index Maturity: 3 month | |
Initial Interest Reset Date: September 2, 2006 |
Interest Reset Dates: Quarterly, on the 2nd day of March, June, September and December
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Interest Payment Dates: Quarterly, on the 2nd day of March, June, September and December
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Interest Determination Dates: Two London business days prior to each Interest Reset Date
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Regular Record Date(s):
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Calculation Agent (if other than SunTrust Bank): |
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Day Count Convention:
[ X ] Actual/360 for the period from June 2, 2006 to June 2, 2008 |
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[ ] Actual/Actual for the period from _______ to _______ |
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[ ] 30/360 for the period from _______ to _______ |
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Redemption:
[ X ] The Notes cannot be redeemed prior to the Stated Maturity Date. |
[ ] 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. |
[ ] 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: [ | ] | Yes | [ X ] | No | |||
| Issue Price: | % |
| ||||
Total Amount of OID:
Yield to Maturity: | % |
Initial Accrual Period OID:
Agent:
[ X ] Merrill Lynch, Pierce, Fenner & Smith Incorporated [ ] Banc of America Securities LLC [ ] Barclays Capital Inc. [ ] Citigroup Global Markets Inc. [ ] Credit Suisse First Boston LLC [ ] Deutsche Bank Securities Inc.
| [ ] HSBC Securities (USA) Inc. [ ] J.P. Morgan Securities Inc. [ ] Tokyo-Mitsubishi International plc [ ] UBS Securities LLC [ ] Wachovia Securities Inc. [ ] Other: ____________________ |
Agent acting in the capacity as indicated below:
[ X ] Agent [ ] Principal |
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If as Principal:
[ ] The Notes are being offered at varying prices related to prevailing market prices at the time of resale. |
[ ] 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:
* Initial Interest Rate will be set on June 2, 2006 as determined 2 London business days prior.
Terms are not completed for certain items above because such items are not applicable.
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