<SEC-DOCUMENT>0001104659-17-014528.txt : 20170307
<SEC-HEADER>0001104659-17-014528.hdr.sgml : 20170307
<ACCEPTANCE-DATETIME>20170307060040
ACCESSION NUMBER:		0001104659-17-014528
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20170307
DATE AS OF CHANGE:		20170307

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MCDONALDS CORP
		CENTRAL INDEX KEY:			0000063908
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		IRS NUMBER:				362361282
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-205731
		FILM NUMBER:		17669536

	BUSINESS ADDRESS:	
		STREET 1:		ONE MCDONALD'S PLAZA
		CITY:			OAK BROOK
		STATE:			IL
		ZIP:			60523
		BUSINESS PHONE:		630 623 3000

	MAIL ADDRESS:	
		STREET 1:		ONE MCDONALD'S PLAZA
		CITY:			OAK BROOK
		STATE:			IL
		ZIP:			60523

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MCDONALDS CORP
		CENTRAL INDEX KEY:			0000063908
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		IRS NUMBER:				362361282
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		ONE MCDONALD'S PLAZA
		CITY:			OAK BROOK
		STATE:			IL
		ZIP:			60523
		BUSINESS PHONE:		630 623 3000

	MAIL ADDRESS:	
		STREET 1:		ONE MCDONALD'S PLAZA
		CITY:			OAK BROOK
		STATE:			IL
		ZIP:			60523
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>a17-7766_1fwp.htm
<DESCRIPTION>FWP
<TEXT>


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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Filed Pursuant to Rule&nbsp;433</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dated March&nbsp;6, 2017</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registration Statement No.&nbsp;333-205731</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">McDONALD&#146;S CORPORATION</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">USD 600,000,000 2.625% Medium-Term Notes Due 2022</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Summary of Terms</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Issuer:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">McDonald&#146;s Corporation</font></p>    </td>   </tr>
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<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ratings:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Moody&#146;s: Baa1 (Stable), S&amp;P: BBB+ (Stable)*</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Trade Date:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">March&nbsp;6, 2017</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Settlement Date:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">March&nbsp;9, 2017</font></p>    </td>   </tr>
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<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Maturity Date:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">January&nbsp;15, 2022</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Security Description:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SEC-Registered Senior Unsecured Fixed Rate Medium-Term   Notes</font></p>    </td>   </tr>
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<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total Principal Amount:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">USD 600,000,000</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Coupon:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.625%</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Issue Price:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.935% of the principal amount, plus accrued   interest from and including January&nbsp;15, 2017</font></p>    </td>   </tr>
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<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Yield to Maturity:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.639%</font></p>    </td>   </tr>
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<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Spread to Benchmark Treasury:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">T + 62 basis points</font></p>    </td>   </tr>
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<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Benchmark Treasury:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.875% 5-year note due February 28, 2022</font></p>    </td>   </tr>
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<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Benchmark Treasury Yield:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.019%</font></p>    </td>   </tr>
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<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Coupon Payments:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pays Semi-Annually on the 15th day of   January&nbsp;and July, beginning July&nbsp;15, 2017</font></p>    </td>   </tr>
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<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Day Count:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30 / 360</font></p>    </td>   </tr>
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<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Redemption Provision:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The 2022 Notes will be redeemable at any time prior to the   maturity date, at the option of McDonald&#146;s Corporation, in whole or in part,   at a redemption price equal to the greater of: (1)&nbsp;100% of the principal   amount of the Notes to be redeemed, plus accrued and unpaid interest on those   Notes to the redemption date; or (2)&nbsp;the sum of the present values of   the remaining scheduled payments of principal and interest on the Notes to be   redeemed (not including any portion of payments of interest accrued as of 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 Treasury   Rate plus 15 basis points, plus accrued and unpaid interest on those Notes to   the redemption date.</font></p>    </td>   </tr>
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<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Joint Bookrunners:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Citigroup Global Markets Inc.</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J.P. Morgan Securities LLC</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Merrill Lynch, Pierce, Fenner&nbsp;&amp; Smith</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt 60.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Incorporated</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mizuho Securities USA Inc.</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">MUFG Securities Americas Inc.</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SG Americas Securities, LLC</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">U.S. Bancorp Investments,&nbsp;Inc.</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Wells Fargo Securities, LLC</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CUSIP:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">58013MEM2</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The 2022 Notes constitute a further issuance of, and are consolidated and form a single series with, the outstanding 2.625% Medium-Term Notes Due 2022 that McDonald&#146;s Corporation issued on September&nbsp;30, 2011 and February&nbsp;7, 2012.&#160; Upon completion of this offering, the aggregate principal amount of outstanding notes of this series will be USD 1.35 billion.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade align="left" style="color:black;"></div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">* A credit rating is not a recommendation to buy, sell or hold securities.&#160; It may be subject to revision or withdrawal at any time by the assigning credit rating agency.&#160; Each credit rating is applicable only to the specific security to which it applies.&#160; Investors should make their own evaluation as to whether an investment in the security is appropriate.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">USD 850,000,000 3.500% Medium-Term Notes Due 2027</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Summary of Terms</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="93%" style="border-collapse:collapse;margin-left:.5in;">
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Issuer:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">McDonald&#146;s Corporation</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ratings:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Moody&#146;s: Baa1 (Stable), S&amp;P: BBB+ (Stable)*</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Trade Date:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">March&nbsp;6, 2017</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Settlement Date:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">March&nbsp;9, 2017</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Maturity Date:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">March&nbsp;1, 2027</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Security Description:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SEC-Registered Senior Unsecured Fixed Rate   Medium-Term Notes</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total Principal Amount:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">USD 850,000,000</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Coupon:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.500%</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Issue Price:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.476% of the principal amount</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Yield to Maturity:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.563%</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Spread to Benchmark Treasury:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">T + 107 basis points</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Benchmark Treasury:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.250% 10-year bond due February&nbsp;15, 2027</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Benchmark Treasury Yield:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.493%</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Coupon Payments:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pays Semi-Annually on the 1st day of   September&nbsp;and March, beginning September&nbsp;1, 2017</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Day Count:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30 / 360</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Redemption Provision:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The 2027 Notes will be redeemable at any time prior   to December&nbsp;1, 2026 (three months prior to the maturity date), at the   option of McDonald&#146;s Corporation, in whole or in part, at a redemption price   equal to the greater of: (1)&nbsp;100% of the principal amount of the Notes   to be redeemed, plus accrued and unpaid interest on those Notes to the   redemption date; or (2)&nbsp;the sum of the present values of the remaining   scheduled payments of principal and interest on the Notes to be redeemed (not   including any portion of payments of interest accrued as of 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 Treasury Rate plus 20   basis points, plus accrued and unpaid interest on those Notes to the redemption   date. The 2027 Notes will be redeemable in whole or in part, at any time on   or after December&nbsp;1, 2026 (three months prior to the maturity date) at   the Company&#146;s option, at a redemption price equal to 100% of the principal   amount of such series of the Notes to be redeemed, plus accrued and unpaid   interest on those Notes to the redemption date.</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Joint Bookrunners:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Citigroup Global Markets Inc.</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J.P. Morgan Securities LLC</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Merrill Lynch, Pierce, Fenner&nbsp;&amp; Smith</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt 60.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Incorporated</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mizuho Securities USA Inc.</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">MUFG Securities Americas Inc.</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SG Americas Securities, LLC</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">U.S. Bancorp Investments,&nbsp;Inc.</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Wells Fargo Securities, LLC</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CUSIP:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">58013MFB5</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\bvanga\17-7766-1\task8320159\7766-1-bg.htm',USER='bvanga',CD='Mar  6 20:47 2017' -->

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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">USD 550,000,000 4.450% Medium-Term Notes Due 2047</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Summary of Terms</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Issuer:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">McDonald&#146;s Corporation</font></p>    </td>   </tr>
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<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ratings:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Moody&#146;s: Baa1 (Stable), S&amp;P: BBB+ (Stable)*</font></p>    </td>   </tr>
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<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Trade Date:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">March&nbsp;6, 2017</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Settlement Date:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">March&nbsp;9, 2017</font></p>    </td>   </tr>
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<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Maturity Date:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">March&nbsp;1, 2047</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Security Description:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SEC-Registered Senior Unsecured Fixed Rate   Medium-Term Notes</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total Principal Amount:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">USD 550,000,000</font></p>    </td>   </tr>
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<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Coupon:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.450%</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Issue Price:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.509% of the principal amount</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Yield to Maturity:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.480%</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Spread to Benchmark Treasury:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">T + 137 basis points</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Benchmark Treasury:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.875% 30-year bond due November&nbsp;15, 2046</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Benchmark Treasury Yield:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.110%</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Coupon Payments:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pays Semi-Annually on the 1st day of March&nbsp;and   September, beginning September&nbsp;1, 2017</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Day Count:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30 / 360</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Redemption Provision:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The 2047 Notes will be redeemable at any time prior   to September&nbsp;1, 2046 (six months prior to the maturity date), at the   option of McDonald&#146;s Corporation, in whole or in part, at a redemption price   equal to the greater of: (1)&nbsp;100% of the principal amount of the Notes   to be redeemed, plus accrued and unpaid interest on those Notes to the   redemption date; or (2)&nbsp;the sum of the present values of the remaining   scheduled payments of principal and interest on the Notes to be redeemed (not   including any portion of payments of interest accrued as of 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 Treasury Rate plus 25   basis points, plus accrued and unpaid interest on those Notes to the redemption   date. The 2047 Notes will be redeemable in whole or in part, at any time on   or after September&nbsp;1, 2046 (six months prior to the maturity date) at   the Company&#146;s option, at a redemption price equal to 100% of the principal   amount of such series of the Notes to be redeemed, plus accrued and unpaid   interest on those Notes to the redemption date.</font></p>    </td>   </tr>
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<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Joint Bookrunners:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Citigroup Global Markets Inc.</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J.P. Morgan Securities LLC</font></p>    </td>   </tr>
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<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Merrill Lynch, Pierce, Fenner&nbsp;&amp; Smith</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt 60.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Incorporated</font></p>    </td>   </tr>
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<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mizuho Securities USA Inc.</font></p>    </td>   </tr>
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<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">MUFG Securities Americas Inc.</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SG Americas Securities, LLC</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">U.S. Bancorp Investments,&nbsp;Inc.</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Wells Fargo Securities, LLC</font></p>    </td>   </tr>
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CUSIP:</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.28%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">58013MFC3</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\bvanga\17-7766-1\task8320159\7766-1-bg.htm',USER='bvanga',CD='Mar  6 20:47 2017' -->

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<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">United States Tax Considerations</font></u>:</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The text under &#147;United States Tax Considerations&#148; in the Prospectus Supplement, dated July&nbsp;17, 2015, summarizes certain U.S. federal income tax considerations that may be relevant to a beneficial owner of a note.&#160; The text is amended as follows:</font></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Introductory paragraph &#151; Insert the following text after the fourth sentence:</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">It is intended to apply only to investors who acquire their notes upon original issuance, or investors who acquire their notes in a subsequent purchase and are not members of our expanded group, as defined in the Treasury regulations under Section&nbsp;385 of the Internal Revenue Code (the &#147;Code&#148;).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">II.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;United States Tax Considerations &#151; Original Issue Discount&#148; &#151; Delete the following text in the first sentence:&#160; </p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Internal Revenue</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">III.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;United States Tax Considerations &#151; Non-U.S. Holders&#148; &#151; Replace the existing text in its entirety with the following:</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If a holder is a non-resident alien individual or a foreign corporation that is the beneficial owner of the notes (a &#147;non-U.S. holder&#148;):</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&nbsp;payments of interest (including any original issue discount) on a note made to such non-U.S. holder will not be subject to withholding of U.S. federal income tax, provided that, with respect to payments of interest on a note, (i)&nbsp;the non-U.S. holder does not actually or constructively own 10 percent or more of the combined voting power of all classes of our stock and is not a controlled foreign corporation related to us through stock ownership; (ii)&nbsp;the payments are not payments of contingent interest as described in Section&nbsp;871(h)(4)&nbsp;of the Code (generally, interest (including original issue discount), the amount of which is determined by reference to our receipts, sales, cash flow, income, profits, property values, dividends or comparable attributes or such attributes of a party related to us); (iii)&nbsp;the beneficial owner provides a statement signed under penalties of perjury (typically, on IRS Form&nbsp;W-8BEN or W-8BEN-E) that includes its name and address and certifies that it is a non-U.S. holder in compliance with applicable requirements (or satisfies certain documentary evidence requirements for establishing that it is a non-U.S. holder); (iv)&nbsp;the non-U.S. holder has provided any direct or indirect information with respect to its direct and indirect U.S. owners; and (v)&nbsp;if the non-U.S. holder or any intermediary through which it holds notes is a &#147;foreign financial institution&#148; (as defined below), each such entity has entered into an agreement with the U.S. government, pursuant to which it agrees, among other responsibilities, to collect and provide to the U.S. tax authorities information about its direct and indirect U.S. accountholders and investors, or otherwise establishes an exemption; and</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&nbsp;such non-U.S. holder will not be subject to U.S. federal income tax on gain realized on the sale, exchange or redemption of the note, provided that, (i)&nbsp;the gain of such holder is not effectively connected with the holder&#146;s conduct of a trade or business in the United States (and, if certain treaties apply, is not attributable to a permanent establishment maintained by the non-U.S. holder within the United States); (ii)&nbsp;if the non-U.S. holder is an individual holder, such holder is not present in the United States for 183 days or more in the taxable year of the sale, exchange or redemption (and does not satisfy certain other conditions); and (iii)&nbsp;in the case of a sale, exchange, redemption or other taxable</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">disposition of a note effected on or after January&nbsp;1, 2019, (x)&nbsp;the non-U.S. holder has provided any direct or indirect information with respect to its direct and indirect U.S. owners; and (y)&nbsp;if the non-U.S. holder or any intermediary through which it holds notes is a &#147;foreign financial institution&#148; (as defined below), each such entity has entered into an agreement with the U.S. government, pursuant to which it agrees, among other responsibilities, to collect and provide to the U.S. tax authorities information about its direct and indirect U.S. accountholders and investors, or otherwise establishes an exemption.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If U.S. tax is imposed as a result of a failure to comply with the documentation requirements described in clauses (a)(iv)&nbsp;and (v)&nbsp;or (b)(iii)&nbsp;above, the beneficial owner may be entitled to a refund if the required information is provided to the IRS.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For purposes of the discussion in paragraphs (a)&nbsp;and (b)&nbsp;above, a &#147;foreign financial institution&#148; generally is a non-U.S. entity that (i)&nbsp;accepts deposits in the ordinary course of a banking or similar business; (ii)&nbsp;as a substantial portion of its business, holds financial assets for the account of others; or (iii)&nbsp;is engaged (or holds itself out as being engaged) primarily in the business of investing, reinvesting, or trading in securities, partnership interests or commodities, or interests in securities, partnership interests or commodities.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">U.S. information reporting requirements and backup withholding tax will not apply to payments on a note made to a non-U.S. holder if the statement described in paragraph (a)(ii)&nbsp;above is duly provided.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Backup withholding is not an additional tax. Amounts withheld as backup withholding may be credited against a holder&#146;s U.S. federal income tax liability.&#160; A holder may obtain a refund of any excess amounts withheld under the backup withholding rules&nbsp;by filing the appropriate claims for a refund with the IRS and furnishing the required information.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Plan of Distribution</font></u>:</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The text under &#147;Plan of Distribution&#148; in the Prospectus Supplement, dated July&nbsp;17, 2015, is amended by inserting the following text immediately preceding the &#147;General&#148; heading therein:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Canada</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The notes may be sold in Canada only to purchasers purchasing, or deemed to be purchasing, as principal that are accredited investors, as defined in National Instrument 45-106 <i>Prospectus Exemptions</i> or subsection 73.3(1)&nbsp;of the <i>Securities Act</i> (Ontario), and are permitted clients, as defined in National Instrument 31-103 <i>Registration Requirements, Exemptions and Ongoing Registrant Obligations</i>.&#160; Any resale of the notes must be made in accordance with an exemption from, or in a transaction not subject to, the prospectus requirements of applicable securities laws.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Securities legislation in certain provinces or territories of Canada may provide a purchaser with remedies for rescission or damages if this document (including any amendment thereto) contains a misrepresentation, provided that the remedies for rescission or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser&#146;s province or territory.&#160; The purchaser should refer to any applicable provisions of the securities legislation of the purchaser&#146;s province or territory for particulars of these rights or consult with a legal advisor.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to section 3A.3 of National Instrument 33-105 <i>Underwriting Conflicts</i> (&#147;NI 33-105&#148;), the agents are not required to comply with the disclosure requirements of NI 33-105 regarding underwriter conflicts of interest in connection with this offering.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Legal Matters</font></u>:</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The text under &#147;Legal Matters&#148; in the Prospectus Supplement, dated July&nbsp;17, 2015, is amended as follows:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jerome N. Krulewitch, McDonald&#146;s Corporate Executive Vice President, General Counsel and Secretary, will pass upon the validity of the notes for us.&#160; Allen&nbsp;&amp; Overy LLP, New York, New York, will pass upon the validity of the notes for the agents.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates.&#160; Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering.&#160; You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov.&#160; Alternatively, the issuer or any agent participating in the offering will arrange to send you the prospectus if you request it by calling McDonald&#146;s Corporation toll-free at 1-800-228-9623; J.P. Morgan Securities LLC collect at 1-212-834-4533; Mizuho Securities USA Inc. toll-free at 1-866-271-7403; U.S. Bancorp Investments,&nbsp;Inc. toll-free at 1-877-558-2607; or Wells Fargo Securities, LLC toll-free at 1-800-645-3751.</font></p>
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