Filed Pursuant to Rule 424(b)(2)
Registration No. 333-260663
CALCULATION OF REGISTRATION FEE
| ||||
Title of Each Class of Securities Offered | Maximum Aggregate Offering Price | Amount of Registration Fee | ||
Senior Debt Securities | $300,000,000 | $27,810 | ||
| ||||
| ||||
Pricing Supplement Dated January 31, 2022 (To Prospectus dated November 1, 2021 and Prospectus Supplement dated November 1, 2021) |
PACCAR Financial Corp.
Medium-Term Notes, Series Q - Fixed Rate
CUSIP # 69371RR65
(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: |
Loop Capital Markets LLC
Scotia Capital (USA) Inc.
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 99.877% of the Principal Amount.
Principal Amount: $300,000,000 | Original Issue Date: February 4, 2022 (T+4) |
Agent’s Discount or Commission: 0.350% | Final Maturity Date: February 4, 2027 |
Net Proceeds to Company: $298,581,000 | Interest Payment Dates: Semi-annually on each February 4 and August 4, commencing August 4, 2022 |
| Record Dates: January 21 and July 21 preceding the applicable Interest Payment Date |
Interest Rate: 2.000% 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 February 4, 2022.
Plan of Distribution:
Name | Title | Principal Amount of Notes | ||||||
J.P. Morgan Securities LLC | Bookrunner | $ | 63,000,000 | |||||
SMBC Nikko Securities America, Inc. | Bookrunner | $ | 63,000,000 | |||||
TD Securities (USA) LLC | Bookrunner | $ | 63,000,000 | |||||
U.S. Bancorp Investments, Inc. | Bookrunner | $ | 63,000,000 | |||||
Loop Capital Markets LLC | Co-Manager | $ | 12,000,000 | |||||
Scotia Capital (USA) Inc. | Co-Manager | $ | 12,000,000 | |||||
Siebert Williams Shank & Co., LLC | Co-Manager | $ | 24,000,000 | |||||
|
| |||||||
Total | $ | 300,000,000 | ||||||
|
| |||||||
Other Provisions:
N/A
