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 | $100,000,000 | $11,590 | ||
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| Pricing Supplement Dated November 7, 2016 | Filed Pursuant to Rule 424(b)(2) | |
(To Prospectus dated November 5, 2015 and Prospectus Supplement dated November 5, 2015) | Registration No. 333-207838 |
PACCAR Financial Corp.
Medium-Term Notes, Series O – Floating Rate
CUSIP# 69371RN51
(the “Notes”)
We are hereby offering to sell Notes having the terms specified below to you with the assistance of:
☐ Barclays Capital Inc.
☐ BNP Paribas Securities Corp.
☐ Citigroup Global Markets Inc.
☐ J.P. Morgan Securities LLC
☒ Merrill Lynch, Pierce, Fenner & Smith
Incorporated
☐ Mitsubishi UFJ Securities (USA), Inc.
☐ U.S. Bancorp Investments, Inc.
☐ Other:
acting as ☒ principal ☐ agent
| at: | ☐ varying prices related to prevailing market prices at the time of resale |
| ☒ a fixed initial public offering price of 100% of the Principal Amount. |
Principal Amount: $100,000,000 | Original Issue Date: November 10, 2016 | |
Agent’s Discount or Commission: 0.200% | Final Maturity Date: November 8, 2019 | |
Net Proceeds to Company: $99,800,000 | Interest Payment Date(s): February 8, May 8, August 8 and November 8 commencing February 8, 2017
Record Dates: January 25, April 24, July 25 and October 25 preceding the applicable Interest Payment Date | |
Calculation Agent:
Interest Calculation:
☒ Regular Floating Rate Note | ☐ Floating Rate/Fixed Rate Note Fixed Rate Commencement Date: Fixed Interest Rate: | |
☐ Inverse Floating Rate Note Fixed Interest Rate: | ||
☐ Other Floating Rate Note (see attached) | ||
Initial Interest Rate: The Initial Interest Rate will be the interpolated rate based upon 2 month LIBOR (as referenced herein with an Index Maturity of 2 months) and 3 month LIBOR, in each case determined on November 8, 2016, plus the Spread
Initial Interest Reset Date: November 10, 2016
Interest Reset Dates: February 8, May 8, August 8 and November 8
Interest Rate Basis:
| ☐ Commercial Paper Rate | ☐ Federal Funds Rate | Designated LIBOR Currency: | ||
| ☐ CMT Rate | ☐ Federal Funds (Effective) Rate | ☐ Prime Rate | ||
☐ Reuters Page FRBCMT | ☐ Federal Funds Open Rate | ☐ Treasury Rate | ||
☐ Reuters Page FEDCMT | ☐ Federal Funds Target Rate | ☐ Other (see attached) | ||
If Reuters Page FEDCMT: | ☒ LIBOR | |||
☐ Weekly Average | Designated LIBOR Page: | |||
☐ Monthly Average | ☒ Reuters Page LIBOR 01 | |||
☐ Reuters Page LIBOR 02 |
Index Maturity: 3 month LIBOR
Spread (+/-): +0.320%
Spread Multiplier: N/A
Maximum Interest Rate: N/A
Minimum Interest Rate: N/A
Day Count Convention:
☐ 30/360 for the period from to .
☒ Actual/360 for the period from November 10, 2016 to November 8, 2019.
☐ Actual/Actual for the period from to .
Redemption:
☒ The Notes may not be redeemed prior to the Maturity Date.
☐ The Notes may be redeemed at our option prior to Maturity Date.
Initial Redemption Date:
Initial Redemption Percentage: %
Annual Redemption Percentage Reduction: % until Redemption Percentage is 100% of the Principal Amount.
☐ The Notes shall be redeemed by us prior to the Maturity Date (see attached).
Repayment:
☒ 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: (Applicable only if Specified Currency is other than U.S. dollars)
Exchange Rate Agent: (Applicable only if Specified Currency is other than U.S. dollars)
If Discount Note, check ☐
Issue Price: %
Form: ☒ Book-Entry ☐ Certificated
Plan of Distribution:
Name | Title | Principal Amount of Notes | ||||||
Merrill Lynch, Pierce, Fenner & Smith Incorporated | Bookrunner | $ | 100,000,000 | |||||
Total | $ | 100,000,000 | ||||||
Other Provisions: N/A
