<SEC-DOCUMENT>0001104659-25-003093.txt : 20250113
<SEC-HEADER>0001104659-25-003093.hdr.sgml : 20250113
<ACCEPTANCE-DATETIME>20250113172641
ACCESSION NUMBER:		0001104659-25-003093
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250113
DATE AS OF CHANGE:		20250113

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEERE & CO
		CENTRAL INDEX KEY:			0000315189
		STANDARD INDUSTRIAL CLASSIFICATION:	FARM MACHINERY & EQUIPMENT [3523]
		ORGANIZATION NAME:           	06 Technology
		IRS NUMBER:				362382580
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1027

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-273045
		FILM NUMBER:		25527138

	BUSINESS ADDRESS:	
		STREET 1:		ONE JOHN DEERE PLACE
		CITY:			MOLINE
		STATE:			IL
		ZIP:			61265-8098
		BUSINESS PHONE:		(309) 765-8000

	MAIL ADDRESS:	
		STREET 1:		ONE JOHN DEERE PLACE
		CITY:			MOLINE
		STATE:			IL
		ZIP:			61265-8098

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEERE & CO
		CENTRAL INDEX KEY:			0000315189
		STANDARD INDUSTRIAL CLASSIFICATION:	FARM MACHINERY & EQUIPMENT [3523]
		ORGANIZATION NAME:           	06 Technology
		IRS NUMBER:				362382580
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1027

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		ONE JOHN DEERE PLACE
		CITY:			MOLINE
		STATE:			IL
		ZIP:			61265-8098
		BUSINESS PHONE:		(309) 765-8000

	MAIL ADDRESS:	
		STREET 1:		ONE JOHN DEERE PLACE
		CITY:			MOLINE
		STATE:			IL
		ZIP:			61265-8098
</SEC-HEADER>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Filed Pursuant to Rule 433</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Dated January 13, 2025<BR>
Registration Statement No. 333-273045<BR>
Relating to Preliminary Prospectus Supplement</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Dated January 13, 2025 to</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Prospectus dated June 30, 2023</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">DEERE &amp; COMPANY</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">5.450% Notes
due 2035</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">5.700% Notes
due 2055</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Term
Sheet dated January 13</FONT>, 2025</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Issuer:</FONT></TD>
    <TD STYLE="width: 66%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Deere &amp; Company</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Trade Date:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">January 13, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Type of Offering:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">SEC registered</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Expected Ratings*:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">A1 by Moody&rsquo;s Investors Service, Inc.</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">A by Standard and Poor&rsquo;s Ratings Services</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">A+ by Fitch Ratings, Inc.</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Settlement Date**:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">January 16, 2025 (T+3)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Security:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">5.450% Notes due 2035 (the &ldquo;2035 Notes&rdquo;)</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">5.700% Notes due 2055 (the &ldquo;2055 Notes&rdquo;)</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Size:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2035 Notes: $1,250,000,000</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2055 Notes: $750,000,000</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Stated Maturity Date: </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2035 Notes: January 16, 2035</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2055 Notes: January 19, 2055</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Interest Payment Dates:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2035 Notes: January 16 and July 16, commencing on July 16, 2025</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2055 Notes: January 19 and July 19, commencing on July 19, 2025 (long
    first coupon)</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Benchmark Treasury:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2035 Notes: 4.250% UST due November 15, 2034</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2055 Notes: 4.250% UST due August 15, 2054</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Benchmark Treasury Yield and Price: </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2035 Notes: 4.798%; 95-23+</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2055 Notes: 4.991%; 88-19+&nbsp;</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt; width: 34%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Yield to Maturity:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 66%">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2035 Notes: 5.478%</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2055 Notes: 5.741%</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Spread to Benchmark Treasury:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2035 Notes: 68 basis points</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2055 Notes: 75 basis points</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Coupon (Interest Rate):</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2035 Notes: 5.450% per year</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2055 Notes: 5.700% per year</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Price to Public:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2035 Notes: 99.787% of principal amount, plus accrued interest, if
    any, from January 16, 2025</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2055 Notes: 99.416% of principal amount, plus accrued interest, if
    any, from January 16, 2025</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Net Proceeds to the Issuer (before expenses):</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2035 Notes: $1,241,400,000</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2055 Notes: $739,057,500</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt; background-color: white">Optional Redemption:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2035 Notes: <FONT STYLE="background-color: white">Make-whole call based
    on U.S. Treasury + 0.150% (+15 basis points); if, however, the Notes are redeemed on or after October 16, 2034, the redemption price will
    be equal to 100% of the principal amount of the 2035 Notes to be redeemed, plus accrued and unpaid interest thereon, if any, to, but excluding,
    the date of redemption.</FONT></P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2055 Notes: <FONT STYLE="background-color: white">Make-whole call based
    on U.S. Treasury + 0.150% (+15 basis points); if, however, the Notes are redeemed on or after July 19, 2054, the redemption price will
    be equal to 100% of the principal amount of the 2055 Notes to be redeemed, plus accrued and unpaid interest thereon, if any, to, but excluding,
    the date of redemption.</FONT></P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">CUSIP / ISIN:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2035 Notes: 244199 BL8 / US244199BL82</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">2055 Notes: 244199 BM6 / US244199BM65</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Joint Book-Running Managers:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Barclays Capital Inc.&#9;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">BofA Securities, Inc.&#9;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Citigroup Global Markets Inc.</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">HSBC Securities (USA) Inc.&#9;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">J.P. Morgan Securities LLC&#9;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">MUFG Securities Americas Inc.</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">RBC Capital Markets, LLC&#9;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">TD Securities (USA) LLC&#9;&nbsp;</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt; width: 34%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Senior Co-Managers:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 66%">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">BNP Paribas Securities Corp.</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Credit Agricole Securities (USA) Inc.</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Deutsche Bank Securities Inc.</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Goldman Sachs &amp; Co. LLC</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Co-Managers:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Academy Securities, Inc.</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">BBVA Securities Inc. &#9;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">BNY Mellon Capital Markets, LLC&#9;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Commerz Markets LLC&#9;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">ING Financial Markets LLC&#9;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Lloyds Securities Inc. &#9;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Loop Capital Markets LLC &#9;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Nordea Bank Abp&#9;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">PNC Capital Markets LLC&#9;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Santander US Capital Markets LLC&#9;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Scotia Capital (USA) Inc. &#9;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">SG Americas Securities, LLC&#9;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">SMBC Nikko Securities America, Inc. &#9;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Standard Chartered Bank&#9;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Truist Securities, Inc. &#9;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Bancorp Investments, Inc. &#9;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Wells Fargo Securities, LLC</P></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt; font-weight: normal">*</FONT>
A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>** Pursuant to Rule 15c6-1 under the Securities
Exchange Act of 1934, trades in the secondary market generally are required to settle in one business day unless the parties to any such
trade expressly agree otherwise. Accordingly, purchasers of the notes who wish to trade the notes before the business day prior to the
settlement date will be required, by virtue of the fact that the notes initially will settle in T+3, to specify an alternative settlement
cycle at the time of any such trade to prevent failed settlement.</B></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>The
issuer has filed a registration statement (including a prospectus) and a preliminary prospectus supplement with the SEC for the offering
to which this communication relates. Before you invest, you should read the preliminary prospectus supplement and 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.
You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter
or any dealer participating in the offering will arrange to send you the preliminary prospectus supplement and the prospectus if you request
it </B></FONT>by calling Barclays Capital Inc. toll-free at&nbsp;1-888-603-5847,&nbsp;BofA Securities, Inc. toll-free at&nbsp;1-800-294-1322,&nbsp;Citigroup
Global Markets Inc. toll-free at&nbsp;1-800-831-9146, HSBC Securities (USA) Inc. toll-free at&nbsp;1-866-811-8049, J.P. Morgan Securities
LLC collect at 1-212-834-4533, MUFG Securities Americas Inc. toll-free</P>

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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">at 1-877-649-6848, RBC Capital Markets, LLC toll-free at 1-866-375-6829
or TD Securities (USA) LLC toll-free at 1-855-495-9846.</P>

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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Any disclaimers or other notices that may
appear below are not applicable to this communication and should be disregarded. Such disclaimers or other notices were automatically
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