Pearson to redeem 3.25% guaranteed notes due 2023 on Dec. 16

By Mary-Katherine Stinson

Lexington, Ky., Nov. 17 – Pearson plc subsidiary Pearson Funding plc will redeem its 3.25% guaranteed notes due 2023 (Cusips: 70501VAA6, G6964RAA2) on Dec. 16, according to a 6-K filing with the Securities and Exchange Commission.

The Rule 144A and Regulation S notes will be redeemed in whole at a make-whole redemption price of Treasuries plus 25 basis points. The amount will be equal to any accrued interest and additional amounts, if any.

Of the $500 million original issue, $94,176,000 is outstanding.

Bank of New York Mellon is the trustee, paying agent and calculation agent.

Pearson is a publishing and education company based in London.

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