FORM OF REVERSE OF SECURITY
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 a Base Indenture, dated as of August 14, 2019 (the Base Indenture), as supplemented by a Supplemental Indenture No. 2, dated as of May 15, 2020 (the Supplemental Indenture and, together with the Base Indenture, the Indenture), between the Company and U.S. 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 Trustee, the Company and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered.
All terms used in this Security are defined in the Indenture.
(a) At any time prior to February 15, 2030 (the Par Call Date), this Security will be redeemable, at the Companys option, in whole or in part, at any time and from time to time, upon not less than 15 nor more than 60 days notice. Upon redemption of this Security, the Company will pay a redemption price equal to the greater of:
(i) 100% of the principal amount of this Security to be redeemed; and
(ii) the sum of the present values of the Remaining Scheduled Payments of this Security to be redeemed, discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 35 basis points, provided that the principal amount of this Security remaining outstanding after redemption in part will be $2,000 or an integral multiple of $1,000 in excess thereof;
in each case, plus accrued and unpaid interest thereon to, but excluding, the Redemption Date. If the Redemption Date is on or after a Regular Record Date and on or before the related Interest Payment Date, the accrued and unpaid interest, if any, will be paid to the Person in whose name this Security is registered at the close of business on such Regular Record Date, and no additional interest will be payable to Holders whose Securities are subject to redemption by the Company.
(b) On or after the Par Call Date, this Security will be redeemable, at the Companys option, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of this Security plus accrued and unpaid interest thereon to, but excluding, the Redemption Date.
(c) For purposes of Section, the following terms have the following meanings:
Comparable Treasury Issue means the U.S. Treasury security or securities selected by an Independent Investment Banker as having a maturity comparable to the remaining term of this Security (assuming that this Security matured on the Par Call Date) that would be used, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of this Security (assuming that this Security matured on the Par Call Date).