Pricing Supplement Number 134 Dated [ ]

This pricing supplement, which is not complete, relates to an automatically effective Registration Statement under the Securities Act of 1933, as amended. We may not sell the notes until we deliver a final pricing supplement. This pricing supplement and the accompanying prospectus supplement and prospectus are not an offer to sell these notes in any jurisdiction where such an offer would not be permitted.

Subject to completion, dated June 19, 2006

Prudential Financial InterNotes®, Due One Year or More from Date of Issue

Filed under Rule 424(b)(3), Registration Statement(s) No. 333-132469, 333-132469-01 and 333-132469-02

Pricing Supplement Number 134 Dated [              ]

(to Prospectus dated March 16, 2006 and Prospectus Supplement dated March 16, 2006)

Investors should read this pricing supplement in conjunction with the Prospectus and Prospectus Supplement.

 

CUSIP

Number

   Aggregate
Principal
Amount
  Selling
Price
  Gross
Concession
  Net
Proceeds
  Coupon
Type
   Coupon
Rate
  Coupon
Frequency
   Maturity
Date
  

1st

Coupon

Date

   1st
Coupon
Amount
   Survivor’s
Option
   Product
Ranking
   Moody’s
Rating
   S & P
Rating

74432APP9

   [        ]   100.000%   1.000%   [        ]   FIXED    5.500%   SEMI-
ANNUAL
   06/15/2011    12/15/2006    $25.36    YES    Senior
Unsecured
Notes
   A3    A

Redemption Information: Non-Callable.

Joint Lead Managers and Lead Agents: Banc of America Securities LLC, INCAPITAL, LLC Agents: A.G. Edwards & Sons, Inc., Bear, Stearns & Co., Inc., Charles Schwab & Co. Inc., Citigroup, Edward D. Jones & Co., L.P., Fidelity Capital Markets Services, Merrill Lynch & Co., Morgan Stanley, Ramirez & Co., Inc., Raymond James & Associates, Inc., RBC Dain Rauscher Inc., Muriel Siebert & Co., Inc., UBS Financial Services Inc., Wachovia Securities, LLC

 

CUSIP Number

   Aggregate Principal
Amount
  Selling
Price
  Gross
Concession
  Net Proceeds   Coupon
Type
   Coupon
Rate
  Coupon
Frequency
   Maturity
Date
   1st Coupon
Date
   1st
Coupon
Amount
   Survivor’s
Option
   Product
Ranking
   Moody’s
Rating
   S & P
Rating

74432APQ7

   [        ]   100.000%   1.400%   [        ]   FIXED    6.150%   SEMI-
ANNUAL
   06/15/2015    12/15/2006    $28.36    YES    Senior
Unsecured
Notes
   A3    A

Redemption Information: Callable at 100.000% on 06/15/2007 and every interest payment date thereafter.

Joint Lead Managers and Lead Agents: Banc of America Securities LLC, INCAPITAL, LLC Agents: A.G. Edwards & Sons, Inc., Bear, Stearns & Co., Inc., Charles Schwab & Co. Inc., Citigroup, Edward D. Jones & Co., L.P., Fidelity Capital Markets Services, Merrill Lynch & Co., Morgan Stanley, Ramirez & Co., Inc., Raymond James & Associates, Inc., RBC Dain Rauscher Inc., Muriel Siebert & Co., Inc., UBS Financial Services Inc., Wachovia Securities, LLC The Prudential Financial, Inc. InterNotes will be subject to redemption at the option of Prudential Financial, Inc., in whole on the interest payment date occurring any time on or after 06/15/2007 at a redemption price equal to 100% of the principal amount of the Prudential Financial, Inc. InterNotes, plus accrued interest thereon, if any, upon at least 30 days’ prior notice to the noteholder and the trustee, as described in the prospectus.

 

CUSIP Number

   Aggregate Principal
Amount
  Selling
Price
  Gross
Concession
  Net Proceeds   Coupon
Type
   Coupon
Rate
  Coupon
Frequency
   Maturity
Date
   1st Coupon
Date
   1st
Coupon
Amount
   Survivor’s
Option
   Product
Ranking
   Moody’s
Rating
   S & P
Rating

74432APR5

   [        ]   100.000%   2.500%   [        ]   FIXED    6.500%   SEMI-
ANNUAL
   06/15/2031    12/15/2006    $29.97    YES    Senior
Unsecured
Notes
   A3    A

Redemption Information: Callable at 100.000% on 06/15/2011 and every interest payment date thereafter.

Joint Lead Managers and Lead Agents: Banc of America Securities LLC, INCAPITAL, LLC Agents: A.G. Edwards & Sons, Inc., Bear, Stearns & Co., Inc., Charles Schwab & Co. Inc., Citigroup, Edward D. Jones & Co., L.P., Fidelity Capital Markets Services, Merrill Lynch & Co., Morgan Stanley, Ramirez & Co., Inc., Raymond James & Associates, Inc., RBC Dain Rauscher Inc., Muriel Siebert & Co., Inc., UBS Financial Services Inc., Wachovia Securities, LLC

The Prudential Financial, Inc. InterNotes will be subject to redemption at the option of Prudential Financial, Inc., in whole on the interest payment date occurring any time on or after 06/15/2011 at a redemption price equal to 100% of the principal amount of the Prudential Financial, Inc. InterNotes, plus accrued interest thereon, if any, upon at least 30 days’ prior notice to the noteholder and the trustee, as described in the prospectus.

 

Prudential Financial, Inc.

  

Offering Dates: June 19, 2006 through June 26, 2006

 

Trade Date: Monday, June 26, 2006 @12:00 PM ET

 

Settlement Date: Thursday, June 29, 2006

 

Minimum Denomination/Increments: $1,000.00/$1,000.00

 

Initial trades settle flat and clear SDFS: DTC Book Entry only

 

DTC number: 0235 via RBC Dain Rauscher Inc.

 

If the maturity date or an interest payment date for any note is not a Business Day (as defined in the Prospectus), principal, premium, if any, and interest for that note is paid on the next Business Day, and no interest will accrue from, and after, the maturity date or interest payment date.

 

The Prudential Financial, Inc. InterNotes will be represented by a master global note in fully registered form, without coupons. The master global note will be deposited with, or on behalf of, DTC and registered in the name of a nominee of DTC, as depository, or another depository as may be named in a subsequent pricing supplement.

 

InterNotes® is a registered trademark of Incapital Holdings LLC. All rights reserved

 

Prudential Financial, Inc.

 

$2,500,000,000.00 Prudential Financial Retail

Medium-Term Notes, including Prudential

Financial InterNotes®

 

Prospectus dated March 16, 2006 and the

Prospectus Supplement dated March 16, 2006