Filed Pursuant to Rule 433
Registration No. 333-260663
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Final Term Sheet | | |
Medium-Term Notes, Series Q – Fixed Rate August 3, 2023 | | |
PACCAR Financial Corp.
Medium-Term Notes, Series Q - Fixed Rate
CUSIP #69371RS64
(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
Loop Capital 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 99.842% of the Principal Amount.
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Principal Amount: $300,000,000 | | Original Issue Date: August 10, 2023 (T+5) |
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Agent’s Discount or Commission: 0.350% | | Final Maturity Date: August 10, 2028 |
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Net Proceeds to Company: $298,476,000 | | Interest Payment Dates: Semi-annually on each February 10 and August 10, commencing February 10, 2024
Record Dates: January 27 and July 27 preceding the applicable Interest Payment Date |
Treasury Benchmark: 4.125% due July 31, 2028
Treasury Yield: 4.286%
Reoffer Spread: T+70bps
Reoffer Yield: 4.986%
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.