Pricing Supplement dated March 4, 2008 (To Prospectus dated November 16, 2006 and Prospectus Supplement dated November 16, 2006) | Rule 424(b)(2) File No. 333-138755 Cusip No. 88319QM42 |
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: $50,000,000 | Initial Interest Rate: To be determined |
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Agent's Discount or Commission: $ 50,000 | Original Issue Date: March 10, 2008 |
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Net Proceeds to Issuer: $ 49,950,000 | Stated Maturity Date: March 10, 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 10, 2010 |
| $50,000,000 |
| $1,965.00 |
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| TOTAL |
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| $1,965.00 |
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| (1) Excludes accrued interest, if any. |
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Interest Category
x Regular Floating Rate Note |
o Floating Rate/Fixed Rate Note Fixed Rate Commencement Date:
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o Inverse Floating Rate Note o Fixed Interest Rate: % |
Interest Rate Basis or Bases:
o CD Rate | o Federal Funds Rate | o Prime Rate |
o CMT Rate | x LIBOR | o Other (see attached) |
o Commercial Paper Rate | o Treasury Rate |
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If LIBOR:
o LIBOR Reuters Page: |
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x LIBOR Telerate Page: 3750 |
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LIBOR Currency: US$ | ||
If CMT Rate:
CMT Telerate Page: o Telerate Page 7051 o Telerate Page 7052 o Weekly Average o Monthly Average |
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Spread (+/-): +65 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 10, 2008 |
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Interest Reset Dates: Quarterly on the 104h of March, June, September and December commencing on June 10, 2008
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Interest Payment Dates: Quarterly on the 10th day of March, June, September and December beginning on June 10, 2008 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 Bank of New York Mellon):
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Day Count Convention:
x Actual/360 for the period from March 10, 2008 to March 10, 2010 |
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o Actual/Actual for the period from _______ to _______ |
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o 30/360 for the period from _______ to _______ |
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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:
x Merrill Lynch, Pierce, Fenner & Smith Incorporated o Banc of America Securities LLC o Barclays Capital Inc. o Citigroup Global Markets Inc. o Credit Suisse Securities (USA) LLC o Deutsche Bank Securities Inc.
| o HSBC Securities (USA) Inc. x J.P. Morgan Securities Inc. o Tokyo-Mitsubishi International plc o UBS Securities LLC o Wachovia Securities Inc. o Other: |
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Agent acting in the capacity as indicated below:
x Agent o Principal |
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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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