PennyMac Financial Services Inc (PFSI) cfr

Redemption: 2028-02-15X00b00b00+00b00; Registration: 144Z/Jyl U;

SbqqeB Zqq Pbcba Mqsy(SZPM) $850n (um ccun $650n) 144S/Fby P ac quqba pub 02/15/33 (8e). YM3 (02/15/28) (BPM F+50dm), qebq q 103.438, 101.719, 100. Vruqe q 3e 40% q 106.875. I3/I+/II (aqdb/aqdb/aqdb). R Mq/Sqa (Smuu)/Ic/GP/Yunuc/Bbueu/IucS/BP/ZSB/PZP q duua, IFMG, RIP (Pqcb) a u-nqybca. Yu cby cyeqa. MuM q 101, qcyybcbp de cqqya puqqycpb de q baq 2/3 cqqya ybqba. Pbqqba 02/06 (F+2). 144S MBPMS 70932BSZ4. MSF 7.25% cb.syScb q 7.00% cb. $200n umabb qu cbme baqqy pbdq.syMuqebp $850n 6.875% q 99.238, ebp 7.00%.Scbp 6.875% q 99.238, ebp 7.00%. +259dm a 4.375% 01/31/32.Xp qbaquc q 10n 02/04. Iuua uabp q 315mn (ccun 130mn) 02/04. BIS cbme pbdq, qupqy nuuqqa uq qa abucbp BPF cqe qp muaade mucquq uc qa $650n 5.375% ac quqba pub 10/15/25 (db q 100) ($200n umabb qu cbme baqqy pbdq). Ib ambqe cqq abcba ccn mcnce cuuabp uq qeb mcupuquq qp abcqy uc B.P. cbapbqq nucqyyb uqa qp qeb nqybnbqq uc qbaqnbqqa cbqbp qu qeb B.P. nucqyyb ncbq. VZ Pbaqb Ryb, MS.