Form 8-K · Current Report · Filed 2025-03-04

MetLife Issues $1.25B Pre-Capitalized Trust Securities

On March 4, 2025, MetLife, Inc. completed the issuance and sale of 1,250,000 Pre-Capitalized Trust Securities (P-Caps) for an aggregate purchase price of $1,250,000,000 in private placements. The P-Caps were issued by 200 Park Funding Trust and are redeemable on February 15, 2055. The Trust invested the proceeds from the sale of the P-Caps in a portfolio of principal and interest strips of U.S. Treasury securities. Additionally, on the closing date, MetLife entered into a facility agreement with the Trust and The Bank of New York Mellon Trust Company, N.A., as notes trustee for the Senior Notes, which provides MetLife the right to require the Trust to purchase, on one or more occasions, Senior Notes in an aggregate principal amount of up to $1,250,000,000. The Company may also direct the Trust to grant the right to exercise the Issuance Right with respect to all or a designated amount of the Senior Notes to one or more assignees. MetLife will be required to pay a semi-annual facility fee calculated at a rate of 1.2373% per annum, applied to the unexercised portion of the Issuance Right.