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 | $300,000,000 | $27,810 | ||
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| Pricing Supplement Dated September 27, 2022 | 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 # 69371RS23
(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
Rabo Securities USA, Inc.
SG Americas Securities, 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 99.926% of the Principal Amount.
| Principal Amount: $300,000,000 | Original Issue Date: October 3, 2022 (T+4) | |
| Agent’s Discount or Commission: 0.200% | Final Maturity Date: October 3, 2025 | |
| Net Proceeds to Company: $299,178,000 | Interest Payment Dates: Semi-annually on each April 3 and October 3, commencing April 3, 2023 Record Dates: March 20 and September 19 preceding the applicable Interest Payment Date | |
Interest Rate: 4.950% 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
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 October 3, 2022.
Plan of Distribution:
Name | Title | Principal Amount of Notes | ||||||
MUFG Securities Americas Inc. | Bookrunner | $ | 63,000,000 | |||||
BNP Paribas Securities Corp. | Bookrunner | $ | 63,000,000 | |||||
ING Financial Markets LLC | Bookrunner | $ | 63,000,000 | |||||
RBC Capital Markets, LLC | Bookrunner | $ | 63,000,000 | |||||
Rabo Securities USA, Inc. | Co-Manager | $ | 24,000,000 | |||||
SG Americas Securities, LLC | Co-Manager | $ | 24,000,000 | |||||
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Total | $ | 300,000,000 | ||||||
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Other Provisions:
N/A
