| Pricing Supplement Dated December 8, 2023 | 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 #69371RS56
(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:
acting as ☒ principal ☐ agent
| at: | ☐ varying prices related to prevailing market prices at the time of resale |
☒ a fixed initial public offering price of 100.215% of the Principal Amount plus accrued interest from and including August 10, 2023.
| Principal Amount: $100,000,000. The Notes constitute a further issuance of, and will be consolidated with, the $300 million aggregate principal amount of 5.050% Fixed Rate Medium-Term Notes, Series Q, due August 10, 2026 issued by the Company on August 10, 2023. The Notes will have the same CUSIP number as the previously issued 5.050% Fixed Rate Medium-Term Notes, Series Q, due August 10, 2026 and will trade interchangeably with the previously issued 5.050% Fixed Rate Medium-Term Notes, Series Q, due August 10, 2026 immediately upon settlement. Upon completion of this offering, the aggregate principal amount outstanding of all such notes will be $400 million. | Agent’s Discount or Commission: 0.200%
Net Proceeds to Company: $100,015,000 plus accrued interest from and including August 10, 2023
Original Issue Date of the Reopening: December 13, 2023 (T+3)
Final Maturity Date: August 10, 2026
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 |
Interest Rate: 5.050% 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 December 13, 2023.
Plan of Distribution:
|
Name | Title | Principal Amount of Notes | ||||||
MUFG Securities Americas Inc. | Bookrunner | $ | 50,000,000 | |||||
TD Securities (USA) LLC | Bookrunner | $ | 50,000,000 | |||||
|
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Total | $ | 100,000,000 | ||||||
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Other Provisions:
N/A
