Bond Factsheet
PRUFIN 2.800% 23Oct2036 Corp (CNH)
Prudential Funding (Asia) PLC
Indicative
Full Lot
Bid Price 99.300
Change in Bid Price 0.700
Bid Yield (%) 2.881 %
Change in Bid Yield 0.081
Ask Price 99.725
Change in Ask Price 0.275
Ask Yield (%) 2.832 %
Change in Ask Yield 0.032
Indicative price as of 16 Oct 2026, 4:05pm
Ask Yield to Worst
Bid Yield to Worst
Ask Yield to Maturity
Bid Yield to Maturity
Bond Issuer
Prudential Funding (Asia) PLC
Guarantor
Prudential PLC
Announcement Date
15 Oct 2026
Issue Date
23 Oct 2026
Maturity Date
23 Oct 2036
Years to Maturity / Next Call
10.020 / 9.768
Modified Duration
8.553 @ 16 Oct 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
2.800
Coupon Type
Fixed
Annual Coupon Rate
2.800
Coupon Frequency
Semi Annually
Seniority
Subordinated
Reference Rate
-
ISIN
HK0001366423
CUSIP
DS0004221
Bond Currency
CNH
Total Issue Size
1,000,000,000
Min. Investment Quantity (Nominal)
CNH 1,000,000
Incremental Quantity (Nominal)
CNH 10,000
Bond Type
Corporate
Bond Sector
Financials
Bond Sub Sector
Insurance
Issuer Credit Rating (S&P/ Fitch)
***/ N.R
Bond Credit Rating (S&P/ Fitch)
***/ A
Shariah Compliant
No
Exchange Listed
Others
Issuer Call
• at par on any day from (and including) the day falling 3 months prior to the Maturity Date up to (but excluding) the Maturity Date
Make Whole Call
• at the Make Whole Redemption Price on any date from (and including) the Issue Date up to (but excluding) the date falling 3 months prior to the Maturity Date, subject to Conditions to redemption, variation, substitution and purchase
Additional Note
Regulatory Capital Requirement (Principal and Redemption Date Interest) Condition:
To the extent the Regulatory Capital Requirement is not met both immediately before, and immediately after such payment, the Issuer and the Guarantor will not make any payment of principal unless otherwise permitted by the Relevant Regulator and will not make any payment of Redemption Date Interest to the extent directed not to make such payment by the Relevant Regulator.
“Regulatory Capital Requirement” means any requirement in respect of solvency or regulatory capital or capital ratios for insurance companies, insurance holding companies or financial groups imposed by the Relevant Regulator and to which the Issuer, (where the Issuer is PFA) the Guarantor or the Supervised Group is subject from time to time;
Regulatory Event Redemption:
(a) This Condition 15.7 shall apply to the Notes only if Regulatory Event Redemption is specified as being applicable in the Final Terms.
(b) Subject as provided in these Conditions, if at any time a Regulatory Event has occurred and is continuing or, as a result of any change in or amendment to any applicable law, regulation, principle or standard (including, without limitation, an event where any applicable law, regulation, principle or standard is supplemented or amended in relation to provisions specifically governing internationally active insurance groups and/or global systemically important insurers), or any change in the application of official or generally published interpretation of those laws, regulations, principles or standards (including a change or amendment resulting from a holding by a court or tribunal or competent jurisdiction), the same will occur within a period of six months, the Issuer may redeem the Notes in whole (but not in part) at any time.
Rating Event Redemption
(a) This Condition 15.9 shall apply to the Notes only if Rating Event Redemption is specified as being applicable in the Final Terms.
(b) Subject as provided in these Conditions, if at any time a Rating Event has occurred and is continuing or, as a result of any change in methodology of a Rating Agency (or in the interpretation of such methodology) a Rating Event will occur within a period of six months, the Issuer may redeem the Notes in whole (but not in part) at any time.
a “Rating Event” will be deemed to occur upon a change in methodology of a Rating Agency (or in the interpretation of such methodology) as a result of which the capital (including but not limited to hybrid or debt-funded capital) and/or the equity content, credit or treatment assigned by a Rating Agency to the Notes is, in the reasonable opinion of the Issuer, materially reduced when compared with the capital (including but not limited to hybrid or debt-funded capital) and/or equity content, credit or treatment assigned by a Rating Agency to the Notes on (or about) the date on which agreement is reached to issue the first Tranche of the Notes;
“Regulatory Capital Requirement” means any requirement in respect of solvency or regulatory capital or capital ratios for insurance companies, insurance holding companies or financial groups imposed by the Relevant Regulator and to which the Issuer, (where the Issuer is PFA) the Guarantor or the Supervised Group is subject from time to time;
“Regulatory Event” is deemed to have occurred if the Notes no longer count as Tier 1 Capital or Tier 2 Capital (as applicable) for the purposes of the Issuer, (where the Issuer is PFA) the Guarantor or the Supervised Group, except where such failure to count is as a result of any applicable limitation on the amount of such capital;
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