CALCULATION OF REGISTRATION FEE
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| Title of Each Class of Securities Offered | Maximum Aggregate Offering Price | Amount of Registration Fee | ||
Senior Debt Securities | $300,000,000 | $34,860 | ||
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Pricing Supplement Dated May 11, 2015 (To Prospectus dated November 7, 2012 and Prospectus Supplement dated November 7, 2012) | Filed Pursuant to Rule 424(b)(2) Registration No. 333-184808 |
PACCAR Financial Corp.
Medium-Term Notes, Series N – Fixed Rate
CUSIP # 69371RM52
(the “Notes”)
We are hereby offering to sell Notes having the terms specified below to you with the assistance of:
¨ Barclays Capital Inc.
x Citigroup Global Markets Inc.
x Mitsubishi UFJ Securities (USA), Inc.
¨ BNP Paribas Securities Corp.
¨ J.P. Morgan Securities LLC
¨ Goldman, Sachs & Co.
x Other: Merrill Lynch, Pierce, Fenner & Smith
Incorporated
ING Financial Markets LLC
TD Securities (USA) LLC
The Williams Capital Group, L.P.
acting asx principal¨ agent
at:¨ varying prices related to prevailing market prices at the time of resale
x a fixed initial public offering price of 99.868% of the Principal Amount.
| Principal Amount: $300,000,000 | Original Issue Date: May 18, 2015 (T+5) | |
| Agent’s Discount or Commission: 0.20% | Final Maturity Date: May 18, 2018 | |
| Net Proceeds to Company: $299,004,000 | Interest Payment Dates: Semi-annually on each May 18 and November 18, commencing November 18, 2015
Record Dates: May 4 and November 4 preceding the applicable Interest Payment Date | |
Interest Rate: 1.400% per annum
Redemption:
| x | The Notes may not be redeemed prior to the Maturity Date. |
| ¨ | The Notes may be redeemed at our option prior to the Maturity Date. |
Initial Redemption Date:
Initial Redemption Percentage: %
Annual Redemption Percentage Reduction: % until Redemption Percentage is 100% of the Principal Amount.
Repayment:
| x | The Notes may not be repaid prior to the Maturity Date. |
| ¨ | The Notes may be repaid prior to the Maturity Date at the option of the holder of the Notes. |
Option Repayment Date(s):
Currency:
Specified Currency: USD (If other than U.S. dollars, see attached)
Minimum Denominations: $1,000 and integral multiples of $1,000 in excess thereof
Exchange Rate Agent: (Applicable only if Specified Currency is other than U.S. dollars)
If Discount Note, check¨
Issue Price: %
Form: x Book-Entry ¨ Certificated
Plan of Distribution:
Name | Title | Principal Amount of Notes | ||||
Merrill Lynch, Pierce, Fenner & Smith Incorporated | Bookrunner | $ | 75,000,000 | |||
Citigroup Global Markets Inc. | Bookrunner | $ | 75,000,000 | |||
Mitsubishi UFJ Securities (USA), Inc. | Bookrunner | $ | 75,000,000 | |||
ING Financial Markets LLC | Co-Manager | $ | 25,500,000 | |||
TD Securities (USA) LLC | Co-Manager | $ | 24,750,000 | |||
The Williams Capital Group, L.P. | Co-Manager | $ | 24,750,000 | |||
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Total | $ | 300,000,000 | ||||
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Other Provisions: N/A
Supplemental United States Federal Income Taxation
The following discussion supplements the discussion contained in the accompanying Prospectus and Prospectus Supplement under the caption “United States Federal Income Taxation—Non-U.S. Holders—Foreign Account Tax Compliance.”
Pursuant to Treasury Regulations, the Foreign Account Tax Compliance Act (“FATCA”) currently applies to payments of interest (including OID) and will apply to payments of gross proceeds from a sale or other disposition (including upon maturity) of the Notes paid after December 31, 2016.
