<SEC-DOCUMENT>0001193125-26-217137.txt : 20260511
<SEC-HEADER>0001193125-26-217137.hdr.sgml : 20260511
<ACCEPTANCE-DATETIME>20260511171926
ACCESSION NUMBER:		0001193125-26-217137
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20260511
DATE AS OF CHANGE:		20260511

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VALLEY NATIONAL BANCORP
		CENTRAL INDEX KEY:			0000714310
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		ORGANIZATION NAME:           	02 Finance
		EIN:				222477875
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-278527
		FILM NUMBER:		26964522

	BUSINESS ADDRESS:	
		STREET 1:		ONE PENN PLAZA
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10119
		BUSINESS PHONE:		(973) 305-8800

	MAIL ADDRESS:	
		STREET 1:		ONE PENN PLAZA
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10119

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VALLEY NATIONAL BANCORP
		CENTRAL INDEX KEY:			0000714310
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		ORGANIZATION NAME:           	02 Finance
		EIN:				222477875
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		ONE PENN PLAZA
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10119
		BUSINESS PHONE:		(973) 305-8800

	MAIL ADDRESS:	
		STREET 1:		ONE PENN PLAZA
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10119
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>d109043dfwp.htm
<DESCRIPTION>FWP
<TEXT>
<HTML><HEAD>
<TITLE>FWP</TITLE>
</HEAD>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Issuer Free Writing Prospectus </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Filed Pursuant to Rule 433 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Dated
May&nbsp;11, 2026 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Registration <FONT STYLE="white-space:nowrap">No.&nbsp;333-278527</FONT> </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TERM SHEET </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g109043g0512013311927.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>$500,000,000 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>6.219% <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Fixed-to-Floating</FONT></FONT> Rate Subordinated Notes due 2036
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Term Sheet </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="26%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="73%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"><FONT STYLE="font-size:11pt"><B>Issuer:</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Valley National Bancorp (the &#8220;Company&#8221; or &#8220;Issuer&#8221;)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Security:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">6.219% <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Fixed-to-Floating</FONT></FONT> Rate Subordinated Notes due 2036 (the &#8220;Notes&#8221;)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Aggregate Principal Amount:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">$500,000,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Expected Security Rating*:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Baa3 (stable) by Moody&#8217;s Ratings</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">BBB (stable) by Kroll Bond Rating Agency</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">BBBH (stable) by Morningstar DBRS</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Trade Date:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">May&nbsp;11, 2026</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Settlement Date:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">May&nbsp;14, 2026 (T+3)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Maturity Date <BR>(if not previously redeemed):</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">June&nbsp;1, 2036</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Benchmark Treasury:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">UST 3.875% due April&nbsp;30, 2031</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Benchmark Treasury Price:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">99-04.25</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Benchmark Treasury Yield:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">4.069%</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Spread To Benchmark Treasury:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">215 basis points</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B><FONT STYLE="white-space:nowrap">Re-offer</FONT> Yield:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">6.219%</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Coupon:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">From and including the Settlement Date to, but excluding, June&nbsp;1, 2031, or the date of earlier redemption (the &#8220;fixed rate period&#8221;) 6.219% per annum, payable semiannually in arrears. From and including June&nbsp;1,
2031 to, but excluding, the Maturity Date or the date of earlier redemption (the &#8220;floating rate period&#8221;), a floating rate per annum equal to the Benchmark rate (which is expected to be Three-Month Term SOFR) (each as defined in the
prospectus supplement under &#8220;Description of Notes &#8212; Interest&#8221;), plus a spread of 243 basis points for each quarterly interest period during the floating rate period, payable quarterly in arrears; <U>provided</U>, <U>however</U>,
that if the Benchmark rate is less than zero, the Benchmark rate shall be deemed to be zero.</TD></TR></TABLE>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TD VALIGN="top"><B>Interest Payment Dates:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Fixed rate period: June&nbsp;1 and December&nbsp;1 of each year, commencing on June&nbsp;1, 2026. The last interest payment date for the fixed rate period will be June&nbsp;1, 2031.</TD></TR>
<TR STYLE="font-size:1pt">
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Floating rate period: March&nbsp;1, June&nbsp;1, September&nbsp;1, and December&nbsp;1 of each year, commencing on September&nbsp;1, 2031.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Record Dates:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">The fifteenth calendar day immediately preceding the applicable interest payment date.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Day Count Convention:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Fixed rate period: 30/360.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Floating rate period: <FONT STYLE="white-space:nowrap">360-day</FONT> year and the number of days actually elapsed.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Optional Redemption:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">The Company may, at its option, beginning with the interest payment date of June&nbsp;1, 2031, but not prior thereto (except upon the occurrence of certain events specified above under &#8220;Special Redemption&#8221;), and on any
interest payment date thereafter, redeem the Notes, in whole or in part, from time to time, subject to obtaining the prior approval of the Federal Reserve to the extent such approval is then required under the rules of the Federal Reserve (or, as
and if applicable, the rules of any successor appropriate bank regulatory agency) (&#8220;Federal Reserve Approval&#8221;), at a price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest to, but
excluding, the date of redemption.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Special Redemption:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">The Company may, at its option, redeem the Notes at any time, including prior to June&nbsp;1, 2031, in whole, but not in part, subject to obtaining the Federal Reserve Approval, upon the occurrence of (i)&nbsp;a &#8220;Tax
Event&#8221; (as defined under &#8220;Description of Notes &#8212; Redemption&#8221; in the prospectus supplement), (ii) a &#8220;Tier 2 Capital Event&#8221; (as defined under &#8220;Description of Notes &#8212; Redemption&#8221; in the prospectus
supplement), or (iii)&nbsp;the Company becoming required to register as an investment company pursuant to the Investment Company Act of 1940, as amended (the &#8220;1940 Act&#8221;), in each case, at a redemption price equal to 100% of the principal
amount of the Notes being redeemed plus accrued and unpaid interest to, but excluding, the date of redemption. The Notes may not otherwise be redeemed prior to the Maturity Date.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Denominations:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">$1,000 minimum denominations and $1,000 integral multiples thereof.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Use of Proceeds:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">The Company intends to use an amount equal to the net proceeds from this offering to redeem, repurchase, repay, satisfy and discharge or otherwise repay, in part or in full, its 3.00% <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">fixed-to-floating</FONT></FONT> rate subordinated notes due June&nbsp;15, 2031 and for general corporate purposes.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Price to Public:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">100%</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Ranking:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">The Notes will be the Company&#8217;s general unsecured subordinated obligations and will be:</TD></TR></TABLE>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
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<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><DIV STYLE="display: table-row;"><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; ">&#149;</P></DIV><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.650000em; font-family:Times New Roman">junior in right of payment and upon the Company&#8217;s liquidation to any existing and all future Senior Debt (as defined under &#8220;Description
of Notes&#8221; in the prospectus supplement);</P></DIV></DIV></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><DIV STYLE="display: table-row;"><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; ">&#149;</P></DIV><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.650000em; font-family:Times New Roman">junior in right of payment and upon the Company&#8217;s liquidation to any of its existing and all of its future general
creditors;</P></DIV></DIV></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><DIV STYLE="display: table-row;"><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; ">&#149;</P></DIV><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.650000em; font-family:Times New Roman">equal in right of payment and upon the Company&#8217;s liquidation with any existing and all future indebtedness the terms of which provide that such
indebtedness ranks equally with the Notes, including its 3.00% <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">fixed-to-floating</FONT></FONT> rate subordinated notes due June&nbsp;15, 2031 and its 6.25% <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">fixed-to-floating</FONT></FONT> rate subordinated notes due September&nbsp;30, 2032.</P></DIV></DIV></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><DIV STYLE="display: table-row;"><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; ">&#149;</P></DIV><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.650000em; font-family:Times New Roman">senior in right of payment and upon the Company&#8217;s liquidation to (i)&nbsp;its existing junior subordinated debentures underlying outstanding
trust preferred securities, and (ii)&nbsp;any indebtedness the terms of which provide that such indebtedness ranks junior to the Notes;</P></DIV></DIV></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><DIV STYLE="display: table-row;"><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; ">&#149;</P></DIV><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.650000em; font-family:Times New Roman">effectively subordinated to all of the Company&#8217;s secured indebtedness to the extent of the value of the assets securing such indebtedness;
and</P></DIV></DIV></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><DIV STYLE="display: table-row;"><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; ">&#149;</P></DIV><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.650000em; font-family:Times New Roman">structurally subordinated to all of the existing and future indebtedness, deposits and other liabilities of the Bank and its other current and future
subsidiaries, including, without limitation, the Bank&#8217;s depositors, liabilities to general creditors and liabilities arising during the ordinary course or otherwise.</P></DIV></DIV></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">As of March&nbsp;31, 2026, the Company (at the holding company level) had no indebtedness ranking senior to the Notes other than liabilities of approximately $74.9&nbsp;million to general creditors. In addition, as of such date, the
Company had $450&nbsp;million in aggregate principal amount of indebtedness (consisting of $300.0&nbsp;million in aggregate principal amount of its 3.00%
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">fixed-to-floating</FONT></FONT> rate subordinated notes due June&nbsp;15, 2031 and $150&nbsp;million in aggregate principal amount of its 6.25% <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">fixed-to-floating</FONT></FONT> rate subordinated notes due September&nbsp;30, 2032) ranking equally with the Notes and approximately $57.9&nbsp;million in aggregate principal amount of indebtedness (consisting of its
junior subordinated debentures) ranking junior to the Notes. As of March&nbsp;31, 2026, the Bank had $52.9&nbsp;billion in total deposits, $2.1&nbsp;billion of Federal Home Loan Bank (&#8220;FHLB&#8221;) advances, $63.9&nbsp;million of securities
sold under agreements to repurchase, and no federal funds purchased, and the Bank and its other subsidiaries had approximately $1.0&nbsp;billion of other liabilities, excluding intercompany liabilities, to which the Notes will be structurally
subordinated. The FHLB advances are secured by mortgage loan related collateral and the customer repurchase agreements are secured by investment securities.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>CUSIP / ISIN:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">919794AH0 / US919794AH02</TD></TR></TABLE>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TD WIDTH="73%"></TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Book-Running Managers:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Keefe, Bruyette&nbsp;&amp; Woods, <I>A Stifel Company</I>, Morgan Stanley&nbsp;&amp; Co. LLC</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B><FONT STYLE="white-space:nowrap">Co-Managers:</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">RBC Capital Markets, LLC, R. Seelaus&nbsp;&amp; Co., LLC</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">An explanation of the significance of ratings may be obtained from the rating agency. Generally, rating
agencies base their ratings on such material and information, and such of their own investigations, studies and assumptions, as they deem appropriate. The rating of the subordinated notes should be evaluated independently from similar ratings of
other securities. A credit rating of a security is not a recommendation to buy, sell or hold securities and may be subject to review, revision, suspension, reduction or withdrawal at any time by the assigning rating agency. No report of any rating
agency is incorporated by reference herein. </P></TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Issuer has filed a registration statement (including a prospectus) and
a preliminary prospectus supplement (the &#8220;Preliminary Prospectus Supplement&#8221;) with the Securities and Exchange Commission (&#8220;SEC&#8221;) for the offering to which this communication relates. Before you invest, you should read the
prospectus in that registration statement, the Preliminary Prospectus Supplement, the final prospectus supplement (when available) and other documents the Issuer has filed with the SEC for more complete information about the Issuer and this
offering. You may get these documents for free by visiting EDGAR on the SEC&#8217;s website at <U>www.sec.gov. </U>Alternatively, the Issuer, the underwriters or any dealer participating in the offering will arrange to send you the prospectus and
the related Preliminary Prospectus Supplement if you request it by calling Keefe, Bruyette&nbsp;&amp; Woods, Inc. toll free at (800) <FONT STYLE="white-space:nowrap">966-1559</FONT> or Morgan Stanley&nbsp;&amp; Co. LLC toll free at <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">866-718-1649.</FONT></FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Capitalized terms used but not defined in this
Pricing Term Sheet have the meanings given to them in the Preliminary Prospectus Supplement. This Pricing Term Sheet is qualified in its entirety by reference to the Preliminary Prospectus Supplement. The information in this Pricing Term Sheet
supplements the Preliminary Prospectus Supplement and supersedes the information in the Preliminary Prospectus Supplement to the extent it is inconsistent with the information in the Preliminary Prospectus Supplement. Other information (including
other financial information) presented in the Preliminary Prospectus Supplement is deemed to have changed to the extent affected by the information contained herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We expect that delivery of the Notes will be made against payment therefor on or about May&nbsp;14, 2026, which will be the third business day
following the date of pricing of the Notes, or &#8220;T+3.&#8221; Under Rule <FONT STYLE="white-space:nowrap">15c6-1</FONT> of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), trades in the secondary market generally
are required to settle in one business day, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the Notes more than one business day prior to the settlement date will be required, by virtue of
the fact that the Notes initially settle in T+3, to specify an alternate settlement arrangement at the time of any such trade to prevent a failed settlement. Purchasers of the Notes who wish to trade the Notes prior to their date of delivery
hereunder should consult their advisors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Note that documents transmitted by <FONT STYLE="white-space:nowrap">e-mail</FONT> may be altered
or changed during the process of transmission and none of Valley National Bancorp, Keefe, Bruyette&nbsp;&amp; Woods, <I>A Stifel Company</I>, Morgan Stanley nor any of their respective affiliates accepts liability or responsibility for any
alteration or change. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE
DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM. </P>
</DIV></Center>

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