Procter & Gamble Files Preliminary Prospectus for Floating Rate Notes Due 2076

Overview

On October 26, 2026, The Procter & Gamble Company filed a preliminary prospectus supplement (Form 424B5) under Registration Statement No. 333-299472 for an offering of institutional Floating Rate Notes due November 2, 2076.

Key Terms of the Notes

• Issuer: The Procter & Gamble Company
• Security: Floating Rate Notes due 2076
• Stated Maturity Date: November 2, 2076 (50-year maturity)
• Coupon / Benchmark: Compounded SOFR minus 0.45% per year
• Interest Payment Dates: Quarterly on February 2, May 2, August 2, and November 2, commencing February 2, 2027
• Redemption / Call Provision: P&G reserves the right to redeem all or part of the notes beginning November 2, 2056, at specified redemption prices plus accrued interest
• Put Option (Repurchase at Holder's Option): Holders can require P&G to repurchase notes starting November 2, 2027, annually through November 2, 2037, and every third year thereafter
• Tax Acceleration Provision: P&G may shorten maturity if interest deductibility for U.S. federal income tax purposes is impaired due to a tax event
• Underwriter: Morgan Stanley
• Listing: The notes will not be listed on any securities exchange

Purpose & Market Impact

This filing represents a standard long-duration floating-rate funding transaction, common for corporate treasury management and ESOP-related or long-term liability matching. Because this is a preliminary debt prospectus supplement and not an insider equity transaction, there is minimal immediate impact on common share dilution or market float.