JXN · Jackson Financial Inc.

Summary

On March 19, 2026, Jackson Financial Inc. facilitated the issuance of $500 million 2036 P-Caps by Grand River Funding Trust I and $400 million 2056 P-Caps by Grand River Funding Trust II via private placements, providing the company elective rights to issue up to $900 million in senior notes for on-demand capital and liquidity.

Key takeaways

• 2036 Trust issued 500,000 2036 P-Caps for $500,000,000 aggregate purchase price
• 2056 Trust issued 400,000 2056 P-Caps for $400,000,000 aggregate purchase price
• Company has 10-year right to issue up to $500,000,000 6.311% Senior Notes due February 15, 2036 to 2036 Trust
• Company has 30-year right to issue up to $400,000,000 7.280% Senior Notes due February 15, 2056 to 2056 Trust
• Facility fees of 2.066% per annum on 2036 Issuance Right and 2.430% per annum on 2056 Issuance Right
• Required exercise of Issuance Rights if consolidated net worth falls below $2.75 billion