Pricing Supplement dated February 8, 2008 (To Prospectus dated November 16, 2006 and Prospectus Supplement dated November 16, 2006) | Rule 424(b)(2) File No. 333-138755 Cusip No. 88319QM26 |
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: $25,000,000 | Initial Interest Rate: To be determined |
|
|
Agent's Discount or Commission: $ 34,250 | Original Issue Date: February 14, 2008 |
|
|
Net Proceeds to Issuer: $ 24,965,750 | Stated Maturity Date: February 14, 2011 |
|
|
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 February 14, 2011 |
| $25,000,000 |
| $982.50 |
|
| TOTAL |
|
|
| $982.50 |
|
| ___________ |
|
|
|
|
|
| (1) Excludes accrued interest, if any. |
|
|
|
|
|
Interest Category
x Regular Floating Rate Note |
o Floating Rate/Fixed Rate Note Fixed Rate Commencement Date:
|
o Inverse Floating Rate Note o Fixed Interest Rate: % |
Interest Rate Basis or Bases:
o CD Rate | o Federal Funds Rate | o Prime Rate |
o CMT Rate | x LIBOR | o Other (see attached) |
o Commercial Paper Rate | o Treasury Rate |
|
If LIBOR:
o LIBOR Reuters Page: |
|
|
x LIBOR Telerate Page: 3750 |
|
|
LIBOR Currency: US$ | ||
If CMT Rate:
CMT Telerate Page: o Telerate Page 7051 o Telerate Page 7052 o Weekly Average o Monthly Average |
|
|
Spread (+/-): +75 bps | Maximum Interest Rate: %
|
Spread Multiplier: N/A | Minimum Interest Rate: %
|
Index Maturity: 3 month |
|
Initial Interest Reset Date: May 14, 2008 |
|
Interest Reset Dates: Quarterly on the 144h of February, May, August and November commencing on May 14, 2008
|
Interest Payment Dates: Quarterly on the 14th day of February, May, August and November beginning on May 14, 2008 subject to Modified Following Business Day
|
Interest Determination Dates: Two London business days prior to each Interest Reset Date
|
Regular Record Date(s):
|
Calculation Agent (if other than Bank of New York Mellon):
|
Day Count Convention:
x Actual/360 for the period from February 14, 2008 to February 14, 2011 |
|
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:
| Yield to Maturity: | % |
Initial Accrual Period OID:
Agent:
o Merrill Lynch, Pierce, Fenner & Smith Incorporated o Banc of America Securities LLC o Barclays Capital Inc. o Citigroup Global Markets Inc. o Credit Suisse First Boston LLC x Deutsche Bank Securities Inc.
| o HSBC Securities (USA) Inc. o J.P. Morgan Securities Inc. o Tokyo-Mitsubishi International plc o UBS Securities LLC o Wachovia Securities Inc. o Other: |
| 2 |
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.
| 3 |
