diff --git a/src/nvim/terminal.c b/src/nvim/terminal.c
index 96b2d8e215..004a00265a 100644
--- a/src/nvim/terminal.c
+++ b/src/nvim/terminal.c
@@ -247,6 +247,8 @@ static void emit_termrequest(void **argv)
   buf_T *buf = handle_get_buffer(buf_handle);
   if (!buf || buf->terminal == NULL) {  // Terminal already closed.
     xfree(sequence);
+    kv_destroy(*pending_send);
+    xfree(pending_send);
     return;
   }
   Terminal *term = buf->terminal;
@@ -1232,7 +1234,6 @@ void terminal_destroy(Terminal **termpp)
     kv_destroy(term->selection);
     kv_destroy(term->termrequest_buffer);
     vterm_free(term->vt);
-    xfree(term->pending.send);
     multiqueue_free(term->pending.events);
     xfree(term);
     *termpp = NULL;  // coverity[dead-store]
diff --git a/test/functional/terminal/parser_spec.lua b/test/functional/terminal/parser_spec.lua
index 64aa3ea134..962ca24793 100644
--- a/test/functional/terminal/parser_spec.lua
+++ b/test/functional/terminal/parser_spec.lua
@@ -92,4 +92,17 @@ describe(':terminal', function()
       exec_lua([[return _G.osc10_response]])
     )
   end)
+
+  it('does not leak pending TermRequest on buffer destroy #39332', function()
+    -- Send all OSC sequences in one exec_lua so that the event loop does not drain between the sends.
+    exec_lua(function(prefix, st)
+      local buf = vim.api.nvim_create_buf(false, true)
+      local chan = vim.api.nvim_open_term(buf, {})
+      vim.api.nvim_create_autocmd('TermRequest', { buffer = buf, callback = function() end })
+      vim.api.nvim_chan_send(chan, prefix .. '7;file:///a' .. st)
+      vim.api.nvim_chan_send(chan, prefix .. '7;file:///b' .. st)
+      vim.api.nvim_buf_delete(buf, { force = true })
+    end, OSC_PREFIX, ST)
+    assert_alive()
+  end)
 end)