[REVERSE OF NOTE]
1.100% SENIOR NOTE DUE 2031
This Note is one of a duly authorized issue of debentures, notes or other debt instruments of the Company (herein called the Securities), issued and to be issued in one or more Series under an Indenture dated as of December 14, 2015 (herein called 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 thereunder of the Company, the Trustee, and the Holders of the Securities, the terms upon which the Securities are, and are to be, authenticated and delivered, and the definition of capitalized terms used herein and not otherwise defined herein. The Securities may be issued in one or more Series, which different Series may be issued in various aggregate principal amounts, may be denominated in different currencies, may mature at different times, may bear interest (if any) at different rates (which rates may be fixed or variable), may be subject to different redemption provisions (if any), may be subject to different sinking, purchase, or analogous funds (if any), may be subject to different covenants and Events of Default, and may otherwise vary as provided in the Indenture. This Note is one of a Series of Securities of the Company designated as set forth on the face hereof (herein called the Notes), initially limited in aggregate principal amount to $1,000,000,000.
Interest on the Notes will be payable semi-annually in arrears on each Interest Payment Date. If any Interest Payment Date, the Maturity Date or any earlier repayment date falls on a day that is not a Business Day, then payment of interest and/or principal that would otherwise be payable on such date will be made on the next succeeding Business Day. No interest will accrue on the amount so payable for the period from such Interest Payment Date, Maturity Date or earlier repayment date, as the case may be, to the date payment is made. Interest on the Notes will be paid on the basis of a 360-day year consisting of twelve 30-day months.
The Notes shall be redeemable as a whole or in part, at the Companys option at any time and from time to time prior to November 15, 2030, at a redemption price equal to the greater of (i) 100% of the principal amount of such Notes and (ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon through maturity, as if the Notes matured on November 15, 2030 (exclusive of interest accrued to the date of redemption) 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 10 basis points, plus, in each case, accrued and unpaid interest to, but excluding, the date of redemption.
The Notes shall be redeemable as a whole or in part, at the Companys option at any time and from time to time on or after November 15, 2030, at a redemption price equal to 100% of the principal amount of the Notes being redeemed, plus accrued and unpaid interest to, but excluding, the date of redemption. Notice of any redemption will be sent at least 15 days, but not more than 60 days before the redemption date to each holder of Notes to be redeemed.