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 | $600,000,000 | $55,620 | ||
| ||||
|
Pricing Supplement Dated August 3, 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 # 69371RR99
(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:
ING Financial Markets LLC
ANZ Securities, 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 99.929% of the Principal Amount.
Principal Amount: $600,000,000 | Original Issue Date: August 11, 2022 (T+6) | |
Agent’s Discount or Commission: 0.200% | Final Maturity Date: August 11, 2025 | |
Net Proceeds to Company: $598,374,000 | Interest Payment Dates: Semi-annually on each February 11 and August 11, commencing February 11, 2023
Record Dates: January 28 and July 28 preceding the applicable Interest Payment Date |
Interest Rate: 3.550% 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 August 11, 2022.
Plan of Distribution:
Name | Title | Principal Amount of Notes | ||||||
MUFG Securities Americas Inc. | Bookrunner | $ | 120,000,000 | |||||
J.P. Morgan Securities LLC | Bookrunner | $ | 120,000,000 | |||||
Wells Fargo Securities, LLC | Bookrunner | $ | 120,000,000 | |||||
BNP Paribas Securities Corp. | Bookrunner | $ | 72,000,000 | |||||
ING Financial Markets LLC | Bookrunner | $ | 72,000,000 | |||||
Mizuho Securities USA LLC | Bookrunner | $ | 72,000,000 | |||||
ANZ Securities, Inc. | Co-Manager | $ | 12,000,000 | |||||
Siebert Williams Shank & Co., LLC | Co-Manager | $ | 12,000,000 | |||||
|
| |||||||
Total | $ | 600,000,000 | ||||||
|
|
Other Provisions:
N/A