Lincoln National sells $500M 6.80% subordinated notes due 2056

Lincoln National completed a $500 million offering of 6.800% fixed-to-fixed reset subordinated notes due 2056.Key Highlights:Original SEC Filing: LINCOLN NATIONAL CORP [ LNC ] - 8-K - Jun. 29, 2026This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information w…

Lincoln National completed a $500 million offering of 6.800% fixed-to-fixed reset subordinated notes due 2056.

Key Highlights:

Sold $500M aggregate principal amount of 6.800% Fixed-to-Fixed Reset Subordinated Notes due 2056 in a registered public offering.
Offering priced at 100% of principal with a 1.00% underwriting discount; completed June 29, 2026.
Notes pay 6.800% through July 15, 2036, then reset every five years to five-year Treasury + 2.40%; mature July 15, 2056.
Net proceeds intended for general corporate purposes, which may include repurchase/redemption of certain series of preferred stock.

Original SEC Filing:

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.