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CNA Financial Prices $500 Million Offering of Senior Notes

CNA Financial Corporation today announced that it has priced $500 million aggregate principal amount of 3.450% senior notes due August 15, 2027 in a public offering.

CHICAGO, Aug. 7, 2017 — CNA Financial Corporation (NYSE: CNA) today announced that it has priced $500 million aggregate principal amount of 3.450% senior notes due August 15, 2027 in a public offering. The notes are being offered to the public at 99.773% of the principal amount with a yield to maturity of 3.477%. CNA expects the offering to close on August 10, 2017, subject to customary closing conditions.

CNA intends to use all of the net proceeds from the offering, which are estimated to be approximately $495 million, after deducting the underwriting discount and estimated offering expenses, to repay at maturity the $150 million outstanding aggregate principal balance of its 6.950% senior notes due January 15, 2018 and to repurchase, redeem, repay or otherwise retire the $350 million outstanding aggregate principal balance of its 7.350% senior notes due November 15, 2019. Pending such application, CNA intends to invest the net proceeds of this offering in short term interest-bearing securities.

Barclays and Wells Fargo Securities are acting as joint book-running managers for the offering. An electronic copy of the final prospectus supplement and accompanying prospectus will be available at the Securities and Exchange Commission's website at www.sec.gov. In addition, a copy of the final prospectus supplement and accompanying prospectus relating to this offering may also be obtained, when available, from:

Barclays Capital Inc., 745 Seventh Avenue, New York, NY 10019, telephone (888) 603-5847; or

Wells Fargo Securities, LLC, Attention: WFS Customer Service, 608 2nd Avenue, South Minneapolis, MN 55402, telephone (800) 645-3751 or email WFSCustomerService@Wellsfargo.com.

The offering is being made solely by means of a prospectus supplement and the accompanying prospectus. This press release does not constitute an offer to sell or a solicitation of an offer to purchase any securities.

About CNA
Serving businesses and professionals since 1897, CNA is the country's eighth largest commercial insurance writer and the 14th largest property and casualty company. CNA's insurance products include commercial lines, specialty lines, surety, marine and other property and casualty coverages. CNA's services include risk management, information services, underwriting, risk control and claims administration. For more information, please visit CNA at www.cna.com. "CNA" is a registered trademark of CNA Financial Corporation. Certain CNA Financial Corporation subsidiaries use the "CNA" trademark in connection with insurance underwriting and claims activities.

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Forward-Looking Statement
This press release may include statements which relate to anticipated future events (forward-looking statements) rather than actual present conditions or historical events. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and generally include words such as "believes", "expects", "intends", "anticipates", "estimates", and similar expressions. Forward-looking statements, by their nature, are subject to a variety of inherent risks and uncertainties that could cause actual results to differ materially from the results projected. Many of these risks and uncertainties cannot be controlled by CNA and include CNA's successful completion of the offering and the satisfaction of other customary conditions to the closing of the repurchase, redemption, repayment or retirement of its 6.950% senior notes due January 15, 2018 and its 7.350% senior notes due November 15, 2019. For a detailed description of these risks and uncertainties please refer to CNA's most recent 10-K on file with the Securities and Exchange Commission available at www.cna.com.

Any forward-looking statements made in this press release are made by CNA as of the date of this press release. Further, CNA does not have any obligation to update or revise any forward-looking statement contained in this press release, even if CNA's expectations or any related events, conditions or circumstances change.

CONTACTS:

MEDIA:
Brandon Davis, 312-822-5167
Sarah Pang, 312-822-6394

ANALYSTS:
James Anderson, 312-822-7757
Emma Riza, 312-822-5960

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