Pricing Supplement dated March 14, 2007 (To Prospectus dated November 16, 2006 and Prospectus Supplement dated November 16, 2006) | Rule 424(b)(2) File No. 333-138755 Cusip No.88319QL43 |
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
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Principal Amount: $125,000,000 | Initial Interest Rate: To be determined |
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Agent's Discount or Commission: $173,750 | Original Issue Date: March 19, 2007 |
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Net Proceeds to Issuer: $124,826,250 | Stated Maturity Date: March 19, 2010 |
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CALCULATION OF REGISTRATION FEE
| Title of each class of securities offered: |
| Maximum Aggregate Offering Price (1): |
| Amount of Registration Fee |
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| Medium-Term Notes, Series F due March 19, 2010 |
| $ 125,000,000 |
| $3,837.50 |
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| TOTAL |
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| $3,837.50 |
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| (1) Excludes accrued interest, if any. |
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Interest Category
x | Regular Floating Rate Note | ||
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o | Floating Rate/Fixed Rate Note | ||
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| Fixed Rate Commencement Date: | |
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| Fixed Interest Rate: % | |
o | Inverse Floating Rate Note | ||
| o | Fixed Interest Rate: % | |
Interest Rate Basis or Bases:
o | CD Rate | o | Federal Funds Rate | o | Prime Rate |
o | CMT Rate | x | LIBOR | o | Other (see attached) |
o | Commercial Paper Rate | o | Treasury Rate |
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If LIBOR:
| o | LIBOR Reuters Page |
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| x | LIBOR Telerate Page: 3750 |
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| LIBOR Currency: US$ |
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If CMT Rate:
| CMT Telerate Page: |
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| o | Telerate Page 7051 | |||
| o | Telerate Page 7052 | |||
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| o | Weekly Average | ||
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| o | Monthly Average | ||
Spread (+/-): +10 bps | Maximum Interest Rate: % |
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Spread Multiplier: N/A | Minimum Interest Rate: % |
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Index Maturity: 3 month |
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Initial Interest Reset Date: June 19, 2007 |
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Interest Reset Dates: Quarterly, on the 19th day of March, June, September and December |
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Interest Payment Dates: Quarterly, on the 19th day of March, June, September and December of each year, beginning on June 19, 2007 subject to Modified Following Business Day |
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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 U.S. Bank): |
Day Count Convention:
| x | Actual/360 for the period from March 19, 2007 to March 19, 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. |
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| Initial Redemption Date: |
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| Initial Redemption Percentage: ____% |
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| 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. |
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| Optional Repayment Date(s): |
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| 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:
| Yield to Maturity: | % |
Initial Accrual Period OID:
Agent:
| o | Merrill Lynch, Pierce, Fenner & Smith Incorporated | x | HSBC Securities (USA) Inc. |
| o | Banc of America Securities LLC | o | 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: _ _ |
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Agent acting in the capacity as indicated below:
| x | Agent | o | Principal |
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 100% 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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