secwatch.observer — SEC 8-K summary
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Issuer:     LINCOLN NATIONAL CORP (LNC)
CIK:        0000059558
Form:       8-K
Filed at:   2026-06-29T20:17:45+00:00
Accession:  0001193125-26-288480
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lincoln National issues $500M 6.800% subordinated notes due 2056; may redeem preferred stock
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- $500M aggregate principal of 6.800% Fixed-to-Fixed Reset Rate Subordinated Notes due 2056 issued June 29, 2026.
- Notes bear 6.800% interest until July 2036, then reset to 5yr Treasury plus 2.400%.
- Proceeds for general corporate purposes; may include repurchase/redemption of Series C and Series D preferred stock.
- Notes are unsecured subordinated obligations; rank senior to certain capital securities, junior to senior debt.
- Interest deferral allowed up to 5 years; redemption options at par or make-whole, and upon tax/rating/regulatory events.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/59558/000119312526288480/0001193125-26-288480-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/59558/000119312526288480/d146146d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-288480

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