Northern Trust Corporation Issues $1.25 Billion in Senior and Subordinated Notes

Northern Trust Corporation announced the issuance of two debt offerings totaling $1.25 billion. The company issued $500 million of 4.150% Senior Notes due November 19, 2030. These unsecured Senior Notes rank equally with all existing and future senior debt and will pay interest semi-annually on May 19 and November 19, beginning May 19, 2026. The Senior Notes may not be redeemed prior to their maturity date. Additionally, Northern Trust issued $750 million of 5.117% Fixed-to-Fixed Rate Subordinated Notes due November 19, 2040. Interest on the Subordinated Notes will be paid semi-annually, starting May 19, 2026. The Subordinated Notes may be redeemed in whole, but not in part, on the Subordinated Notes Reset Date at a price equal to 100% of the principal plus accrued interest; they may not otherwise be redeemed before maturity. The offerings were made pursuant to Northern Trust's shelf Registration Statement on Form S-3 (Registration No. 333-291018) and the included prospectus, filed with the Securities and Exchange Commission on October 22, 2025, and supplemented by a prospectus supplement dated November 12, 2025.

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