Issuer:

Security Description:

1.050% Senior Notes due 2026 (the “2026 Notes”)

2.100% Senior Notes due 2031 (the “2031 Notes”)

2.900% Senior Notes due 2041 (the “2041 Notes”)

Ratings (Moody’s / S&P / Fitch)*:

Distribution:

Aggregate Principal Amount:

2026 Notes: $1,000,000,000

2031 Notes: $1,000,000,000

2041 Notes: $1,250,000,000

Gross Proceeds:

2026 Notes: $996,860,000

2031 Notes: $995,460,000

2041 Notes: $1,244,475,000

Maturity Date:

2026 Notes: July 15, 2026

2031 Notes: April 1, 2031

2041 Notes: April 1, 2041

Coupon:

2026 Notes: 1.050%

2031 Notes: 2.100%

2041 Notes: 2.900%

Benchmark Treasury:

2026 Notes: 0.375% due January 31, 2026

2031 Notes: 0.875% due November 15, 2030

2041 Notes: 1.375% due November 15, 2040

Benchmark Treasury Price and Yield:

2026 Notes: 99-15+; 0.480%

2031 Notes: 97-09; 1.170%

2041 Notes: 93-09+; 1.779%

Spread to Benchmark Treasury:

2026 Notes: T + 63 basis points

2031 Notes: T + 98 basis points

2041 Notes: T + 115 basis points

Price to Public:

2026 Notes: 99.686% of principal amount

2031 Notes: 99.546% of principal amount

2041 Notes: 99.558% of principal amount

Yield to Maturity:

2026 Notes: 1.110%

2031 Notes: 2.150%

2041 Notes: 2.929%

Interest Payment Dates:

2026 Notes: January 15 and July 15, commencing July 15, 2021

2031 Notes: April 1 and October 1, commencing October 1, 2021

2041 Notes: April 1 and October 1, commencing October 1, 2021

Record Dates:

2026 Notes: January 1 and July 1

2031 Notes: March 15 and September 15

2041 Notes: March 15 and September 15

Make-Whole Call:

2026 Notes: Prior to June 15, 2026 (one month prior to the maturity date of the 2026 Notes), at greater of par and make-whole at discount rate of Treasury plus 10 basis points

2031 Notes: Prior to January 1, 2031 (three months prior to the maturity date of the 2031 Notes), at greater of par and make-whole at discount rate of Treasury plus 15 basis points

2041 Notes: Prior to October 1, 2040 (six months prior to the maturity date of the 2041 Notes), at greater of par and make-whole at discount rate of Treasury plus 20 basis points

Par Call:

2026 Notes: At any time on or after June 15, 2026 (one month prior to the maturity date of the 2026 Notes)

2031 Notes: At any time on or after January 1, 2031 (three months prior to the maturity date of the 2031 Notes)

2041 Notes: At any time on or after October 1, 2040 (six months prior to the maturity date of the 2041 Notes)

Trade Date:

Settlement Date:

February 16, 2021 (T+5)

We expect to deliver the Notes against payment for the Notes on the fifth business day following the pricing of the Notes (“T+5”). Under Rule 15c6-1 of the Exchange Act, trades in the secondary market generally are required to settle in two business days, unless the parties to a trade expressly agree otherwise. Accordingly, purchasers who wish to trade Notes on the date of pricing or the next succeeding two business days will be required, by virtue of the fact that the Notes initially will settle in T+5, to specify alternative settlement arrangements to prevent a failed settlement.

Use of Proceeds:

We expect to receive net proceeds of approximately $3.208 billion from the sale of the Notes to the underwriters, after deducting the underwriting discount and estimated offering expenses payable by us.

We intend to use the net proceeds from this offering to (1) redeem or repurchase all of our outstanding 5.250% Senior Notes due 2023, (2) repay approximately $400 million of our outstanding indebtedness under the CP Program, (3) repay $1 billion of the outstanding borrowings under the Term Loan A and (4) pay fees and expenses related to the foregoing.

CUSIP:

2026 Notes: 22822VAV3

2031 Notes: 22822VAW1

2041 Notes: 22822VAX9

ISIN:

2026 Notes: US22822VAV36

2031 Notes: US22822VAW19

2041 Notes: US22822VAX91

Denominations/Multiple:

Joint Book-Running Managers:

Barclays Capital Inc.;

BofA Securities, Inc.;

Citigroup Global Markets Inc.;

MUFG Securities Americas Inc.; and

RBC Capital Markets, LLC

BNP Paribas Securities Corp.;

Commerz Markets LLC;

Credit Agricole Securities (USA) Inc.;

Deutsche Bank Securities Inc.;

Fifth Third Securities, Inc.;

J.P. Morgan Securities LLC;

Mizuho Securities USA LLC;

Morgan Stanley & Co. LLC;

PNC Capital Markets LLC;

Scotia Capital (USA) Inc.;

SMBC Nikko Securities America, Inc.;

SG Americas Securities, LLC;

TD Securities (USA) LLC; and

Truist Securities, Inc.

Co-Managers:

Citizens Capital Markets, Inc.;

U.S. Bancorp Investments, Inc.; and

Wells Fargo Securities, LLC

A securities rating is not a recommendation to buy, sell, or hold securities and should be evaluated independently of any other rating. The rating is subject to revision or withdrawal at any time by the assigning rating organization.