Filed Pursuant to Rule 424(b)(2)
Registration No. 333-260663
Pricing Supplement Dated March 18, 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 #69371RS98
(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.
Citigroup Global Markets Inc.
ING Financial Markets LLC
Loop Capital Markets LLC
Rabo Securities USA, Inc.
Scotia Capital (USA) Inc.
acting as ☒ principal ☐ agent
at: ☐ varying prices related to prevailing market prices at the time of resale
☒ a fixed initial public offering price of 99.689% of the Principal Amount.
| Principal Amount: $350,000,000 | Original Issue Date: March 22, 2024 (T+4) | |
| Agent’s Discount or Commission: 0.450% | Final Maturity Date: March 22, 2034 | |
| Net Proceeds to Company: $347,336,500 | Interest Payment Dates: Semi-annually on each March 22 and September 22, commencing September 22, 2024
Record Dates: March 8 and September 8 preceding the applicable Interest Payment Date | |
Interest Rate: 5.000% 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 March 22, 2024.
Plan of Distribution:
Name | Title | Principal Amount of Notes | ||||||
J.P. Morgan Securities LLC | Bookrunner | $ | 59,500,000 | |||||
BofA Securities, Inc. | Bookrunner | $ | 59,500,000 | |||||
ING Financial Markets LLC | Bookrunner | $ | 59,500,000 | |||||
MUFG Securities Americas Inc. | Bookrunner | $ | 59,500,000 | |||||
U.S. Bancorp Investments, Inc. | Bookrunner | $ | 59,500,000 | |||||
ANZ Securities Inc. | Co-Manager | $ | 10,500,000 | |||||
Citigroup Global Markets Inc. | Co-Manager | $ | 10,500,000 | |||||
Loop Capital Markets LLC | Co-Manager | $ | 10,500,000 | |||||
Rabo Securities USA, Inc. | Co-Manager | $ | 10,500,000 | |||||
Scotia Capital (USA) Inc. | Co-Manager | $ | 10,500,000 | |||||
|
| |||||||
Total | $ | 350,000,000 | ||||||
|
| |||||||
Other Provisions:
N/A
