6. The maturity date on which the principal of each of the 2030 Notes is payable shall be June 24, 2030.
7. The 2030 Notes shall bear interest at the rate of 1.450% per annum from (and including) June 24, 2020. Interest shall be payable on each Interest Payment Date and at the maturity date. Interest payments shall be in the amount of interest accrued to, but excluding, the relevant Interest Payment Date or the maturity date, as applicable.
8. The Interest Payment Dates for the 2030 Notes shall be June 24 and December 24 of each year, commencing on December 24, 2020, and the Regular Record Dates for the 2030 Notes shall be the preceding June 9 or December 9, as the case may be.
If any payment date for the 2030 Notes is not a business day, the Company will make the payment on the next business day, but the Company will not be liable for any additional interest as a result of the delay in payment. With respect to the 2030 Notes, business day means any Monday, Tuesday, Wednesday, Thursday or Friday which is not a day when banking institutions in the place of payment are authorized or obligated by law or executive order to be closed.
9. The Company may, at its option, redeem some or all of the 2030 Notes prior to the Par Call Date (as defined below) at any time or from time to time, at a Redemption Price equal to the greater of (i) 100% of the principal amount of the 2030 Notes to be redeemed or (ii) the sum of the present values of the Remaining Scheduled Payments (as defined below) discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at a rate equal to the Reinvestment Rate (as defined below) plus 15 basis points, plus, in each case, any interest accrued but not paid to the Redemption Date.
On or after the Par Call Date, the Company may redeem the 2030 Notes in whole at any time or in part from time to time, at the Companys option, at a Redemption Price equal to 100% of the principal amount of the 2030 Notes being redeemed, plus any interest accrued but not paid to, but excluding, the Redemption Date.
Notice of redemption will be provided on at least 10 days, but no more than 60 days, prior notice mailed to the registered address of each Holder of the 2030 Notes. The principal amount of a 2030 Note remaining outstanding after a redemption in part shall be $2,000 or an integral multiple of $1,000 in excess thereof.
The term Par Call Date means March 24, 2030, the date that is three months prior to the maturity of the 2030 notes.
The Reinvestment Rate means, as determined on the third business day preceding the date the notice of redemption is provided, the arithmetic mean of the yields under the respective heading Week Ending published in the most recent Statistical Release under the caption Treasury Constant Maturities for the maturity, rounded to the nearest month, corresponding to the remaining life to the Par Call Date, as of the payment date of the principal being redeemed or paid. If no maturity exactly corresponds to such