Vistra Corp. priced a $1.5 billion underwritten public offering comprising $850 million of Series A junior subordinated notes due 2057 and $650 million of Series B notes due 2057. The Series A Notes carry an initial annual interest rate of 7.00%, while the Series B Notes carry 7.25%; both were priced at 100.000% of face value. The notes will be issued by Vistra Operations Company LLC, an indirect wholly owned subsidiary, and irrevocably and unconditionally guaranteed by Vistra. Net proceeds are intended for general corporate purposes, including distributions to Vistra to fund the potential redemption of some or all of its 8.0% Series A and 7.0% Series B perpetual preferred stock after their respective five-year reset dates in October and December 2026. The offering is expected to close on September 24, 2026, subject to customary conditions.