---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-066133"
form_type: "8-K"
ticker: "PRU"
cik: "0001137774"
company_name: "PRUDENTIAL FINANCIAL INC"
filed_at: "2023-03-09T23:59:59+00:00"
generated_at: "2026-06-18T06:23:24.435199+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Prudential Financial raises $1.5B via Pre-Capitalized Trust Securities

## Summary
- Issued 800,000 P-Caps at $800M via 2033 Trust (redeemable Feb 2033).
- Issued 700,000 P-Caps at $700M via 2053 Trust (redeemable Feb 2053).
- Proceeds invested in U.S. Treasury strips; Company has Issuance Right for Senior Notes.
- Senior Notes rates: 5.791% due 2033 and 5.997% due 2053; facility fees of 1.815% and 2.066%.
- Automatic exercise triggers include failure to pay fees or bankruptcy events.

## SEC filing metadata
- accession: 0001193125-23-066133
- form_type: 8-K
- ticker: PRU
- cik: 0001137774
- company_name: PRUDENTIAL FINANCIAL INC
- filed_at: 2023-03-09T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1137774/000119312523066133/0001193125-23-066133-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1137774/000119312523066133/d303851d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-066133
- JSON: https://secwatch.observer/filing/0001193125-23-066133.json
- Plain text: https://secwatch.observer/filing/0001193125-23-066133.txt

## Key facts
- Debt Financings
  PRUDENTIAL FINANCIAL INC incurred senior notes of $800,000,000 aggregate purchase price of Pre-Capitalized Trust Securities with Five Corners Funding Trust III, a Delaware statutory trust (the "2033 Trust") at 5.791% per annum on the Senior Notes due February 15, 2033 maturing February 15, 2033.
  - Instrument: senior notes
  - Principal: $800,000,000 aggregate purchase price of Pre-Capitalized Trust Securities
  - Counterparty: Five Corners Funding Trust III, a Delaware statutory trust (the "2033 Trust")
  - Rate: 5.791% per annum on the Senior Notes due February 15, 2033
  - Maturity: February 15, 2033
  - Event: incurrence
  source text: Five Corners Funding Trust III, a Delaware statutory trust (the "2033 Trust"), completed the issuance and sale of 800,000 of its Pre-Capitalized Trust Securities redeemable February 15, 2033 (the "2033 P-Caps") for an aggregate purchase price of $800,000,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1137774/000119312523066133/0001193125-23-066133-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.