Ally Financial Inc. — Regulatory Filings 2016

Oct 31, 2016

424B2 1 v451783_424b2.htm PRELIMINARY PRICING SUPPLEMENT

Filed under Rule 424(b)(2), Registration Statement No. 333-206284

Preliminary Pricing Supplement No. 120 - Dated Monday, October 31, 2016 (To: Prospectus dated August 10, 2015)

| CUSIP | Principal | | Gross | Net | Coupon | Coupon | Coupon | Maturity | 1st
Coupon | 1st
Coupon | Survivor's | Product |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Number | Amount | Selling
Price | Concession | Proceeds | Type | Rate | Frequency | Date | Date | Amount | Option | Ranking |
| 02006DKZ3 | [ ] | 100.00 % (1) | 1.125 % | [ ] | Fixed | 3.300 % | Monthly | 11/15/2019 | 12/15/2016 | $3.21 | Yes | Senior Unsecured Notes |

Redemption Information: Callable at 100% on 11/15/2017 and Monthly thereafter with 30 Calendar Days Notice.

(1) Investment advisers, either registered under the Investment Advisers Act of 1940 or exempt therefrom, purchasing Notes for the account of their advisory clients may be offered Notes at a 0.4500 % discount to the public offering price.

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02006DLA7
Redemption
Information: Callable at 100% on 11/15/2017 and Monthly thereafter with 30 Calendar Days Notice.
(2) Investment advisers, either registered under the Investment Advisers Act of 1940 or exempt therefrom, purchasing Notes
for the account of their advisory clients may be offered Notes at a 0.7500 % discount to the public offering price.

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Ally Financial Inc. Offering Date: Monday, October 31, 2016 through Monday, November 7, 2016 Trade Date: Monday, November 7, 2016 @ 12:00 PM ET Settle Date: Thursday, November 10, 2016 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 Agents: Incapital LLC, Citigroup, RBC Capital Markets, Morgan Stanley, J.P. Morgan If the maturity date or an interest payment date for any note is not a business day (as term is defined in 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. Ally Financial Inc. Ally Financial Term Notes, Series A Prospectus dated August 10, 2015

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