Filed Pursuant to Rule 424(b)(2)
Registration No. 333-260663
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 | $500,000,000 | $46,350 | ||
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| Pricing Supplement Dated June 6, 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 # 69371RR81
(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.
Scotia Capital (USA) Inc.
acting as ☒ principal ☐ agent
| at: | ☐ varying prices related to prevailing market prices at the time of resale |
☒ a fixed initial public offering price of 99.977% of the Principal Amount.
| Principal Amount: $500,000,000 | Original Issue Date: June 13, 2022 (T+5) | |
| Agent’s Discount or Commission: 0.150% | Final Maturity Date: June 13, 2024 | |
| Net Proceeds to Company: $499,135,000 | Interest Payment Dates: Semi-annually on each June 13 and December 13, commencing December 13, 2022
Record Dates: May 30 and November 29 preceding the applicable Interest Payment Date | |
Interest Rate: 3.150% 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 June 13, 2022.
Plan of Distribution:
Name | Title | Principal Amount of Notes | ||||||
BofA Securities, Inc. | Bookrunner | $ | 100,000,000 | |||||
RBC Capital Markets, LLC | Bookrunner | $ | 100.000,000 | |||||
TD Securities (USA) LLC | Bookrunner | $ | 100,000,000 | |||||
U.S. Bancorp Investments, Inc. | Bookrunner | $ | 100,000,000 | |||||
ANZ Securities, Inc. | Co-Manager | $ | 50,000,000 | |||||
Scotia Capital (USA) Inc. | Co-Manager | $ | 50,000,000 | |||||
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Total | $ | 500,000,000 | ||||||
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Other Provisions:
N/A
