secwatch.observer — SEC 8-K summary
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Issuer:     LINCOLN NATIONAL CORP (LNC)
CIK:        0000059558
Form:       8-K
Filed at:   2025-05-27T23:59:59+00:00
Accession:  0001193125-25-127609
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lincoln National upsizes tender offer to $420M; accepts $812.8M in tenders
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- Increased aggregate offer cap from $375M to $420M; $812.8M aggregate principal tendered as of early deadline.
- Pricing: 2050 notes at $770.25/$1,000 (4.992% ref yield +120bps), 2048 notes at $773.67 (5.022% +120bps).
- Fixed price for Subordinated Securities: $820–$842.50 per $1,000; proration for 2066 Sub Notes at 68.80% and 2030 Notes at 18.82%.
- No acceptance of tenders after early deadline; settlement expected May 29, 2025.
- Financing condition met via $1B Belrose Funding Trust issuance and $500M senior notes sale.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/59558/000119312525127609/0001193125-25-127609-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/59558/000119312525127609/d909988d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-127609

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