Pricing Supplement dated January 8, 2007 | Rule 424(b)(2) |
(To Prospectus dated November 16, 2006 and | File No. 333-138755 |
Prospectus Supplement dated November 16, 2006) | Cusip No.88319QL27 |
Textron Financial Corporation
Medium-Term Notes, Series F
Due Nine Months or More from Date of Issue
Textron Financial Canada Funding Corporation
Medium-Term Notes, Series F-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: $255,000,000 | Initial Interest Rate: 5.46% |
| |
Agent's Discount or Commission: $354,450 | Original Issue Date: January 11, 2007 |
| |
Net Proceeds to Issuer: $254,645,550 | Stated Maturity Date: January 11, 2010 |
| |
CALCULATION OF REGISTRATION FEE
| Title of each class of securities offered: | | Maximum Aggregate Offering Price (1): | | Amount of Registration Fee | |
| | | | | | |
| Medium-Term Notes, Series F due January 11, 2010 | | $ 255,000,000.00 | | $27,285.00 | |
| | | | | | |
| TOTAL | | | | $27,285.00 | |
| | | | | | | |
| | | | | | |
| (1) Excludes accrued interest, if any. | | | | | |
| | | | | | | |
Interest Category
x Regular Floating Rate Note |
|
o Floating Rate/Fixed Rate Note Fixed Rate Commencement Date: Fixed Interest Rate: % |
|
o Inverse Floating Rate Note o Fixed Interest Rate: % |
Interest Rate Basis or Bases:
| o | CD Rate | o | Federal Funds Rate | o | Prime Rate |
| o | CMT Rate | x | LIBOR | o | Other (see attached) |
| o | Commercial Paper Rate | o | Treasury Rate | | |
If LIBOR:
| o | LIBOR Reuters Page |
| x | LIBOR Telerate Page: 3750 |
| |
| LIBOR Currency: US$ |
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: April 11, 2007 | |
Interest Reset Dates: Quarterly, on the 11th day of January, April, July and October |
Interest Payment Dates: Quarterly, on the 11th 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 January 11, 2007 to January 11, 2010 |
| 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 |
Total Amount of OID:
Initial Accrual Period OID:
Agent:
| x | Merrill Lynch, Pierce, Fenner & Smith Incorporated | x | HSBC Securities (USA) Inc. |
| o | Banc of America Securities LLC | o | J.P. Morgan Securities Inc. |
| x | 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: | | |
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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.
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