Filed Pursuant to Rule 424(b)(2)
Registration No. 333-260663
| Pricing Supplement Dated January 24, 2024 |
| (To Prospectus dated November 1, 2021 and |
Prospectus Supplement dated November 1, 2021)
PACCAR Financial Corp.
Medium-Term Notes, Series Q—Fixed Rate
CUSIP #69371RS80
(the “Notes”)
We are hereby offering to sell Notes having the terms specified below to you with the assistance of:
☒ TD Securities (USA) LLC ☐ BNP Paribas Securities Corp. ☐ BofA Securities, Inc. ☐ J.P. Morgan Securities LLC ☒ Mizuho Securities USA LLC ☐ MUFG Securities Americas Inc. ☐ RBC Capital Markets, LLC ☒ SMBC Nikko Securities America, Inc. ☒ U.S. Bancorp Investments, Inc. ☒ Wells Fargo Securities, LLC ☒ Other: |
Loop Capital Markets LLC
Rabo Securities USA, Inc.
Scotia Capital (USA) 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 99.837% of the Principal Amount.
| Principal Amount: $600,000,000 | Original Issue Date: January 31, 2024 (T+5) | |
| Agent’s Discount or Commission: 0.350% | Final Maturity Date: January 31, 2029 | |
| Net Proceeds to Company: $596,922,000 | Interest Payment Dates: Semi-annually on each January 31 and July 31, commencing July 31, 2024
Record Dates: January 17 and July 17 preceding the applicable Interest Payment Date | |
Interest Rate: 4.600% 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 January 31, 2024.
Plan of Distribution:
Name | Title | Principal Amount of Notes | ||||
TD Securities (USA) LLC | Bookrunner | $ | 96,000,000 | |||
Mizuho Securities USA LLC | Bookrunner | $ | 96,000,000 | |||
SMBC Nikko Securities America, Inc. | Bookrunner | $ | 96,000,000 | |||
U.S. Bancorp Investments, Inc. | Bookrunner | $ | 96,000,000 | |||
Wells Fargo Securities, LLC | Bookrunner | $ | 96,000,000 | |||
Loop Capital Markets LLC | Co-Manager | $ | 24,000,000 | |||
Rabo Securities USA, Inc. | Co-Manager | $ | 24,000,000 | |||
Scotia Capital (USA) Inc. | Co-Manager | $ | 24,000,000 | |||
Siebert Williams Shank & Co., LLC | Co-Manager | $ | 48,000,000 | |||
|
| |||||
Total | $ | 600,000,000 | ||||
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Other Provisions:
N/A
