Filed Pursuant to Rule 424(b)(2)
Registration No. 333-260663
Pricing Supplement Dated November 3, 2023 |
(To Prospectus dated November 1, 2021 and |
Prospectus Supplement dated November 1, 2021)
PACCAR Financial Corp.
Medium-Term Notes, Series Q—Fixed Rate
CUSIP #69371RS72
(the “Notes”)
We are hereby offering to sell Notes having the terms specified below to you with the assistance of:
☒ J.P. Morgan Securities LLC ☒ BNP Paribas Securities Corp. ☒ BofA Securities, Inc. ☒ Mizuho Securities USA LLC ☐ MUFG Securities Americas Inc. ☒ 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.
SG Americas Securities, LLC
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 99.923% of the Principal Amount.
Principal Amount: $400,000,000 | Original Issue Date: November 9, 2023 (T+4) | |
Agent’s Discount or Commission: 0.200% | Final Maturity Date: November 9, 2026 | |
Net Proceeds to Company: $398,892,000 | Interest Payment Dates: Semi-annually on each May 9 and November 9, commencing May 9, 2024
Record Dates: April 25 and October 26 preceding the applicable Interest Payment Date |
Interest Rate: 5.200% 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 November 9, 2023.
Plan of Distribution:
Name | Title | Principal Amount of Notes | ||||
J.P. Morgan Securities LLC | Bookrunner | $ | 68,000,000 | |||
BNP Paribas Securities Corp. | Bookrunner | $ | 68,000,000 | |||
BofA Securities, Inc. | Bookrunner | $ | 68,000,000 | |||
RBC Capital Markets, LLC | Bookrunner | $ | 68,000,000 | |||
Wells Fargo Securities, LLC | Bookrunner | $ | 68,000,000 | |||
ANZ Securities, Inc. | Co-Manager | $ | 15,000,000 | |||
Mizuho Securities USA LLC | Co-Manager | $ | 15,000,000 | |||
SG Americas Securities, LLC | Co-Manager | $ | 15,000,000 | |||
Siebert Williams Shank & Co., LLC | Co-Manager | $ | 15,000,000 | |||
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Total | $ | 400,000,000 | ||||
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Other Provisions:
N/A