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 an Indenture, dated as of April 11, 2007 as supplemented by the first supplemental indenture dated as of August 9, 2013 and the second supplemental indenture dated as of August 19, 2019 (herein called the Indenture), between the Company and The Bank of New York Mellon Trust Company, N.A., 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 and of the terms upon which the Securities 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 $600,000,000.
All terms used in this Security that are defined in the Indenture shall have the meaning assigned to them in the Indenture.
Prior to May 19, 2029, the Company shall have the right, at its option, to redeem this Security, at any time in whole, or from time to time in part, in multiples of $1,000, at a redemption price equal to the greater of:
1. 100% of the principal amount of the Securities of this series to be redeemed; and
2. the sum of the present values of the remaining scheduled payments of principal and interest on the Securities of this series to be redeemed (assuming the Securities matured on May 19, 2029) (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury Rate plus 20 basis points.
In each case, the Company shall pay accrued and unpaid interest on the principal amount being redeemed to the Redemption Date.
On or after May 19, 2029, the Company shall have the right, at its option, to redeem the Security, in whole or in part, at any time at a redemption price equal to 100% of the principal amount of the Securities of this series to be redeemed plus accrued and unpaid interest to, but excluding, the redemption date.
Comparable Treasury Issue means the United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term (Remaining Life) of the Securities of this series to be redeemed that would be utilized, 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 such Securities.
Comparable Treasury Price means, as determined by the Company, with respect to any Redemption Date, (1) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations.