CALCULATION OF REGISTRATION FEE
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Title of Each Class of Securities Offered | Maximum Offering Price | Amount of Registration Fee | ||
Senior Debt Securities | $300,000,000 | $27,810 | ||
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Pricing Supplement Dated November 2, 2021 | Filed Pursuant to Rule 424(b)(2) | |
(To Prospectus dated November 1, 2021 and | Registration No. 333-260663 |
Prospectus Supplement dated November 1, 2021)
PACCAR Financial Corp.
Medium-Term Notes, Series Q - Fixed Rate
CUSIP # 69371RR57
(the “Notes”)
We are hereby offering to sell Notes having the terms specified below to you with the assistance of:
☐ MUFG Securities Americas Inc.
☒ BofA Securities, Inc.
☐ BNP Paribas Securities Corp.
☐ J.P. Morgan Securities LLC
☒ Mizuho Securities USA LLC
☒ RBC Capital Markets, LLC
☐ SMBC Nikko Securities America, Inc.
☐ TD Securities (USA) LLC
☐ U.S. Bancorp Investments, Inc.
☒ Wells Fargo Securities, LLC
☒ Other:
ANZ Securities, Inc.
BNY Mellon Capital Markets, LLC
Loop Capital Markets LLC
Siebert Williams Shank & Co., LLC
acting as ☒ principal ☐ agent
| at: | ☐ varying prices related to prevailing market prices at the time of resale |
☒ a fixed initial public offering price of 99.994% of the Principal Amount.
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| Principal Amount: $300,000,000 | Original Issue Date: November 8, 2021 (T+4) | |
| Agent’s Discount or Commission: 0.200% | Final Maturity Date: November 8, 2024 | |
| Net Proceeds to Company: $299,382,000 | Interest Payment Dates: Semi-annually on each May 8 and November 8, commencing May 8, 2022
Record Dates: April 24 and October 25 preceding the applicable Interest Payment Date | |
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| Interest Rate: 0.900% 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
The Notes are expected to be delivered in book-entry only form through the facilities of The Depository Trust Company and its direct and indirect participants, including Euroclear Bank SA/NV and Clearstream Banking S.A., on or about November 8, 2021.
Plan of Distribution:
Name | Title | Principal Amount of Notes | ||||||
BofA Securities, Inc. | Bookrunner | $ | 63,000,000 | |||||
Mizuho Securities USA LLC | Bookrunner | $ | 63,000,000 | |||||
RBC Capital Markets, LLC | Bookrunner | $ | 63,000,000 | |||||
Wells Fargo Securities, LLC | Bookrunner | $ | 63,000,000 | |||||
ANZ Securities, Inc. | Co-Manager | $ | 12,000,000 | |||||
BNY Mellon Capital Markets, LLC | Co-Manager | $ | 12,000,000 | |||||
Loop Capital Markets LLC | Co-Manager | $ | 12,000,000 | |||||
Siebert Williams Shank & Co., LLC | Co-Manager | $ | 12,000,000 | |||||
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Total | $ | 300,000,000 | ||||||
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Other Provisions:
N/A
