| Final Term Sheet | Filed Pursuant to Rule 433 | |
Medium-Term Notes, Series O – Fixed Rate February 22, 2017 | Registration No. 333-207838 |
PACCAR Financial Corp.
Medium-Term Notes, Series O - Fixed Rate
CUSIP # 69371RN69
(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
| ☒ | MUFG Securities Americas Inc. |
| ☒ | U.S. Bancorp Investments, Inc. |
| ☒ | Other: TD Securities (USA) LLC |
ANZ Securities, Inc.
Scotia Capital (USA) Inc.
The Williams Capital Group, L.P.
acting as ☒ principal ☐ agent
at: ☐ varying prices related to prevailing market prices at the time of resale
☒ a fixed initial public offering price of 99.820% of the Principal Amount.
| Principal Amount: $400,000,000 | Original Issue Date: February 27, 2017 (T+3) | |
| Agent’s Discount or Commission: 0.200% | Final Maturity Date: February 27, 2020 | |
| Net Proceeds to Company: $398,480,000 | Interest Payment Dates: Semi-annually on each February 27 and August 27, commencing August 27, 2017
Record Dates: February 13 and August 13 preceding the applicable Interest Payment Date
| |
Treasury Benchmark: 1.375% due February 15, 2020
Treasury Yield: 1.512%
Reoffer Spread: T+50 bps
Reoffer Yield: 2.012%
Interest Rate: 1.950% per annum
Redemption:
| ☒ | 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:
| ☒ | 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 | ||||
J.P. Morgan Securities LLC | Bookrunner | $ | 85,000,000 | |||
MUFG Securities Americas Inc. | Bookrunner | $ | 85,000,000 | |||
TD Securities (USA) LLC | Bookrunner | $ | 85,000,000 | |||
U.S. Bancorp Investments, Inc. | Bookrunner | $ | 85,000,000 | |||
ANZ Securities, Inc. | Co-Manager | $ | 20,000,000 | |||
Scotia Capital (USA) Inc. | Co-Manager | $ | 20,000,000 | |||
The Williams Capital Group, L.P. | Co-Manager | $ | 20,000,000 | |||
Total | $ | 400,000,000 | ||||
Other Provisions:
N/A
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, J.P. Morgan Securities LLC, MUFG Securities Americas Inc., TD Securities (USA) LLC, U.S. Bancorp Investments, Inc. or any dealer participating in the offering will arrange to send you the prospectus if you request it by contacting J.P. Morgan Securities LLC, collect at 1-212-834-4533, MUFG Securities Americas Inc., collect at 1-212-405-7404, TD Securities (USA) LLC, toll-free at 1-855-495-9846 or U.S. Bancorp Investments, Inc., toll-free at 1-877-558-2607.
