Pacific LifeCorp Announces Pricing of Private Placement of $750 Million Aggregate Principal Amount of 3.350% Senior Notes due 2050

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Pacific LifeCorp (the “Company”) today announced the pricing of $750 million aggregate principal amount of 3.350% senior notes due 2050 (the “notes”). The notes have been offered only to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States in accordance with Regulation S under the Securities Act. The Company plans to use the net proceeds of the private placement for general corporate purposes.

The notes have not been registered under the Securities Act or under any state securities laws. Therefore, the Company may not offer or sell the notes within the United States to, or for the account or benefit of, any United States person unless the offer or sale would qualify for a registration exemption from the Securities Act and applicable state securities laws.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the notes nor does it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

About Pacific LifeCorp and Pacific Life

Pacific LifeCorp is an intermediate stock holding company and is a wholly-owned subsidiary of Pacific Mutual Holding Company. It is also the parent company of Pacific Life Insurance Company. For more than 150 years, Pacific Life has helped millions of individuals and families with their financial needs through a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Whether your goal is to protect loved ones or grow your assets for retirement, Pacific Life offers innovative products and services that provide value and financial security for current and future generations. Pacific Life counts more than half of the 100 largest U.S. companies as its clients and has been named one of the 2020 World’s Most Ethical Companies^® by the Ethisphere Institute. For additional company information, including current financial- strength ratings, visit www.PacificLife.com.

Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of June 2020 is compiled by Pacific Life using the 2020 FORTUNE 500^® list.