[FORM OF REVERSE OF SECURITY]
Indenture. This Security is one of a duly authorized issue of securities of the Company (herein called the Securities), issued and to be issued in one or more series under an Indenture, dated as of May 26, 2020 (the Base Indenture), as supplemented by the First Supplemental Indenture dated May 26, 2020 (the First Supplemental Indenture and, together with the Base Indenture, the Indenture), between the Company and Wells Fargo Bank, National Association, as Trustee (herein called the Trustee, which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities of this series and of the terms upon which the Securities of this series are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof, initially limited in aggregate principal amount to $750,000,000.
Optional Redemption. The Securities of this series will be redeemable as a whole at any time or in part from time to time, at the option of the Company, prior to March 1, 2030 (three months prior to the maturity date of the Securities of this series), at a redemption price equal to the greater of (i) 100% of the principal amount of the Securities of this series to be redeemed; and (ii) as determined by the Company, the sum of the present values of the Remaining Scheduled Payments in respect of the Notes to be redeemed (exclusive of any accrued interest) discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 40 basis points, plus, in each case, any interest accrued but not paid to, but excluding, the Redemption Date.
Commencing on March 1, 2030 (three months prior to the maturity date of the Securities of this series) (the Par Call Date), the Securities of this series are redeemable at the Companys option, at any time in whole or from time to time in part, at a redemption price equal to 100% of the principal amount of the Securities of this series to be redeemed, plus, in each case, accrued and unpaid interest to, but excluding, the Redemption Date.
For purposes of determining the optional redemption price, the following definitions are applicable:
Remaining Scheduled Payments means the remaining scheduled payments of principal of, and interest on, the Securities of this series called for redemption that would be due after the related Redemption Date but for that redemption (assuming the Securities of the series called for redemption matured on the Par Call Date). If that Redemption Date is not an interest payment date with respect to the Securities of this series called for redemption, the amount of the next succeeding scheduled interest payment will be reduced by the amount of interest accrued to such Redemption Date.
Treasury Rate means, with respect to any Redemption Date for the Securities of this series, (1) the yield, which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated H.15 or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant