<SEC-DOCUMENT>0000950103-20-005900.txt : 20200324
<SEC-HEADER>0000950103-20-005900.hdr.sgml : 20200324
<ACCEPTANCE-DATETIME>20200324171745
ACCESSION NUMBER:		0000950103-20-005900
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20200324
DATE AS OF CHANGE:		20200324

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COMCAST CORP
		CENTRAL INDEX KEY:			0001166691
		STANDARD INDUSTRIAL CLASSIFICATION:	CABLE & OTHER PAY TELEVISION SERVICES [4841]
		IRS NUMBER:				270000798
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-232941
		FILM NUMBER:		20739234

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMCAST CENTER
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103-2838
		BUSINESS PHONE:		215-286-1700

	MAIL ADDRESS:	
		STREET 1:		ONE COMCAST CENTER
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103-2838

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AT&T COMCAST CORP
		DATE OF NAME CHANGE:	20020206

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COMCAST CORP
		CENTRAL INDEX KEY:			0001166691
		STANDARD INDUSTRIAL CLASSIFICATION:	CABLE & OTHER PAY TELEVISION SERVICES [4841]
		IRS NUMBER:				270000798
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMCAST CENTER
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103-2838
		BUSINESS PHONE:		215-286-1700

	MAIL ADDRESS:	
		STREET 1:		ONE COMCAST CENTER
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103-2838

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AT&T COMCAST CORP
		DATE OF NAME CHANGE:	20020206
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>dp124545_fwp.htm
<DESCRIPTION>FORM FWP
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt">Filed
Pursuant to Rule 433<BR>
Registration Statement Number 333-232941<BR>
March 24, 2020</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">COMCAST
CORPORATION<BR>
$800,000,000 3.100% NOTES DUE 2025<BR>
$800,000,000 3.300% NOTES DUE 2027<BR>
$1,600,000,000 3.400% NOTES DUE 2030<BR>
$800,000,000 3.750% NOTES DUE 2040</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">Final
Term Sheet</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; width: 35%; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Issuer&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; width: 65%; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Comcast Corporation (the &ldquo;<B>Company</B>&rdquo;)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Guarantors&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Comcast Cable Communications, LLC and NBCUniversal Media, LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Issue of Securities&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">3.100% Notes due 2025</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">3.300% Notes due 2027</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">3.400% Notes due 2030</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">3.750% Notes due 2040</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Denominations&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">$2,000 and multiples of $1,000 in excess thereof</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Use of Proceeds&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">The Company intends to use the net proceeds from the offering for general corporate purposes.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Indenture&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Indenture dated as of September 18, 2013 by and among the Company, the guarantors named
    therein and The Bank of New York Mellon, as trustee (the &ldquo;<B>Trustee</B>&rdquo;), as amended by the First Supplemental
    Indenture dated as of November 17, 2015 by and among the Company, the guarantors named therein and the Trustee.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Trustee&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">The Bank of New York Mellon</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Expected Ratings<SUP>1</SUP>&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Moody&rsquo;s: A3; S&amp;P: A-; Fitch: A-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Joint Book-Running Managers&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">BofA Securities, Inc.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Citigroup Global Markets
        Inc.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">J.P. Morgan Securities
        LLC</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Morgan Stanley &amp;
        Co. LLC</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Wells Fargo Securities,
        LLC</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Trade Date&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">March 24, 2020</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Settlement Date&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">March 27, 2020 (T+3)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Other</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">The impact of coronavirus disease 2019 (&ldquo;<B>COVID-19</B>&rdquo;) and measures to prevent
    its spread are affecting the Company&rsquo;s businesses in a number of ways. For example, the Company has closed all of its
    theme parks; the Company has delayed theatrical</FONT></TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>____________________</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>1 A securities
rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>


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

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<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; width: 35%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; width: 65%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">distribution of films
        both domestically and internationally; and the creation and availability of its film and television programming in the
        United States and globally has been disrupted, including from the cancellation or postponement&nbsp;of sports events,
        including  the Olympics,&nbsp;and suspension of entertainment content production. As they affect Sky, these impacts
        materially exacerbate what was an already deteriorating economic environment and advertising market in the UK and Europe
        in 2019. The Comcast Cable business, while the network performs well&nbsp;to meet the challenge of business and schooling
        from home,&nbsp;will not be&nbsp;unaffected either&nbsp;as economic stress impacts the Company&rsquo;s residential and
        business services customer base.&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">The Company expects that
        the ultimate significance of the impact of COVID-19 on its businesses will vary but will generally depend on the extent
        of governmental measures affecting day to day life and the length of time that such measures remain in place to respond
        to COVID-19. At this point, it is impossible to predict such extent and duration and the degree to which supply and demand
        for the Company&rsquo;s products and services, including advertising, will be affected. This uncertainty makes it challenging
        for the Company&rsquo;s management to estimate the future performance of its businesses, particularly over the near to
        medium term. However, the impact of COVID-19 could have a material adverse impact on the Company&rsquo;s results of operations
        over the near to medium term.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; font-weight: bold; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">3.100% Notes Due 2025</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Aggregate Principal Amount&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">$800,000,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Maturity Date&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">April 1, 2025</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Interest Rate&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">3.100% per annum, accruing from March 27, 2020 (calculated on the basis of a 360-day year
    consisting of twelve 30-day months)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Interest Payment Dates&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">April 1 and October 1, commencing October 1, 2020</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Benchmark Treasury&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">UST 1.125% due February 28, 2025</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Benchmark Treasury Price/Yield&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">102-31+ / 0.511%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Spread to Benchmark Treasury&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">+260 bps</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Yield to Maturity&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">3.111%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Optional Redemption&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">The 3.100% Notes due 2025 are redeemable at the option of the Company at any time, in whole
    or in part, at the &ldquo;<B>Redemption Price</B>.&rdquo; The Redemption Price will equal, with respect to the 3.100% Notes</FONT></TD></TR>
</TABLE>

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

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; width: 35%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; width: 65%"><FONT STYLE="font-size: 10pt">due 2025, at any time prior to March 1, 2025 (one (1) month prior to the maturity of the
    3.100% Notes due 2025) (the &ldquo;<B>2025 Par Call Date</B>&rdquo;), the greater of (i) 100% of the principal amount of such
    notes and (ii) the sum of the present values of the principal amount of such notes and the scheduled payments of interest
    thereon (exclusive of interest accrued to the date of redemption) from the redemption date to the 2025 Par Call Date, in each
    case discounted to the redemption date on a semiannual basis at the Treasury Rate plus 40 basis points, provided that, if
    the 3.100% Notes due 2025 are redeemed on or after the 2025 Par Call Date, the Redemption Price will equal 100% of the principal
    amount of such notes; plus, in each case, accrued and unpaid interest thereon to the date of redemption</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Additional Issuances&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">An unlimited amount of additional 3.100% Notes due 2025 may be issued. The 3.100% Notes
    due 2025 and any additional 3.100% Notes due 2025 that may be issued may be treated as a single series for all purposes under
    the Indenture</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">CUSIP / ISIN&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">20030N DJ7 / US20030NDJ72</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Public Offering Price&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">99.949% plus accrued interest, if any, from March 27, 2020</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Underwriters&rsquo; Discount&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">0.250%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Net Proceeds to Comcast, Before Expenses&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">99.699% per $1,000 principal amount of 3.100% Notes due 2025; $797,592,000 total</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; font-weight: bold; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">3.300% Notes Due 2027</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Aggregate Principal Amount&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">$800,000,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Maturity Date&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">April 1, 2027</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Interest Rate&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">3.300% per annum, accruing from March 27, 2020 (calculated on the basis of a 360-day year
    consisting of twelve 30-day months)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Interest Payment Dates&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">April 1 and October 1, commencing October 1, 2020</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Benchmark Treasury&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">UST 1.125% due February 28, 2027</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Benchmark Treasury Price/Yield&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">102-18+ / 0.743%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Spread to Benchmark Treasury&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">+260 bps</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Yield to Maturity&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">3.343%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Optional Redemption&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">The 3.300% Notes due 2027 are redeemable at the option of the Company at any time, in whole
    or in part, at the &ldquo;<B>Redemption Price</B>.&rdquo; The Redemption Price will equal, with respect to the 3.300% Notes
    due 2027, at any time prior to February 1, 2027 (two</FONT></TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; width: 35%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; width: 65%"><FONT STYLE="font-size: 10pt">(2) months prior to the maturity of the 3.300% Notes due 2027) (the &ldquo;<B>2027 Par Call
    Date</B>&rdquo;), the greater of (i) 100% of the principal amount of such notes and (ii) the sum of the present values of
    the principal amount of such notes and the scheduled payments of interest thereon (exclusive of interest accrued to the date
    of redemption) from the redemption date to the 2027 Par Call Date, in each case discounted to the redemption date on a semiannual
    basis at the Treasury Rate plus 40 basis points, provided that, if the 3.300% Notes due 2027 are redeemed on or after the
    2027 Par Call Date, the Redemption Price will equal 100% of the principal amount of such notes; plus, in each case, accrued
    and unpaid interest thereon to the date of redemption</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Additional Issuances&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">An unlimited amount of additional 3.300% Notes due 2027 may be issued. The 3.300% Notes
    due 2027 and any additional 3.300% Notes due 2027 that may be issued may be treated as a single series for all purposes under
    the Indenture</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">CUSIP / ISIN&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">20030N DK4 / US20030NDK46</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Public Offering Price&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">99.733% plus accrued interest, if any, from March 27, 2020</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Underwriters&rsquo; Discount&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">0.350%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Net Proceeds to Comcast, Before Expenses&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">99.383% per $1,000 principal amount of 3.300% Notes due 2027; $795,064,000 total</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; font-weight: bold; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">3.400% Notes due 2030</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Aggregate Principal Amount&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">$1,600,000,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Maturity Date&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">April 1, 2030</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Interest Rate&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">3.400% per annum, accruing from March 27, 2020 (calculated on the basis of a 360-day year
    consisting of twelve 30-day months)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Interest Payment Dates&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">April 1 and October 1, commencing October 1, 2020</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Benchmark Treasury&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">UST 1.500% due February 15, 2030</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Benchmark Treasury Price/Yield&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">106-14 / 0.821%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Spread to Benchmark Treasury&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">+260 bps</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Yield to Maturity&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">3.421%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Optional Redemption&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">The 3.400% Notes due 2030 are redeemable at the option of the Company at any time, in whole
    or in part, at the &ldquo;<B>Redemption Price</B>.&rdquo; The Redemption Price will equal, with respect to the 3.400% Notes
    due 2030, at any time prior to January 1, 2030 (three (3) months prior to the maturity of the 3.400% Notes</FONT></TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; width: 35%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; width: 65%"><FONT STYLE="font-size: 10pt">due 2030) (the &ldquo;<B>2030 Par Call Date</B>&rdquo;), the greater of (i) 100% of the
    principal amount of such notes and (ii) the sum of the present values of the principal amount of such notes and the scheduled
    payments of interest thereon (exclusive of interest accrued to the date of redemption) from the redemption date to the 2030
    Par Call Date, in each case discounted to the redemption date on a semiannual basis at the Treasury Rate plus 40 basis points,
    provided that, if the 3.400% Notes due 2030 are redeemed on or after the 2030 Par Call Date, the Redemption Price will equal
    100% of the principal amount of such notes; plus, in each case, accrued and unpaid interest thereon to the date of redemption</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Additional Issuances&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">An unlimited amount of additional 3.400% Notes due 2030 may be issued. The 3.400% Notes
    due 2030 and any additional 3.400% Notes due 2030 that may be issued may be treated as a single series for all purposes under
    the Indenture</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">CUSIP / ISIN&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">20030N DG3 / US20030NDG34</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Public Offering Price&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">99.823% plus accrued interest, if any, from March 27, 2020</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Underwriters&rsquo; Discount&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">0.400%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Net Proceeds to Comcast, Before Expenses&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">99.423% per $1,000 principal amount of 3.400% Notes due 2030; $1,590,768,000 total</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; font-weight: bold; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">3.750% Notes due 2040</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Aggregate Principal Amount&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">$800,000,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Maturity Date&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">April 1, 2040</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Interest Rate&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">3.750% per annum, accruing from March 27, 2020 (calculated on the basis of a 360-day year
    consisting of twelve 30-day months)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Interest Payment Dates&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">April 1 and October 1, commencing October 1, 2020</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Benchmark Treasury&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">UST 2.375% due November 15, 2049</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Benchmark Treasury Price/Yield&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">123-28 / 1.389%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Spread to Benchmark Treasury&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">+240 bps</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Yield to Maturity&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">3.789%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Optional Redemption&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">The 3.750% Notes due 2040 are redeemable at the option of the Company at any time, in whole
    or in part, at the &ldquo;<B>Redemption Price</B>.&rdquo; The Redemption Price will equal, with respect to the 3.750% Notes
    due 2040, at any time prior to October 1, 2039 (six (6) months prior to the maturity of the 3.750% Notes due 2040) (the &ldquo;<B>2040
    Par Call Date</B>&rdquo;), the greater of</FONT></TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; width: 35%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; width: 65%"><FONT STYLE="font-size: 10pt">(i) 100% of the principal amount of such notes and (ii) the sum of the present values of
    the principal amount of such notes and the scheduled payments of interest thereon (exclusive of interest accrued to the date
    of redemption) from the redemption date to the 2040 Par Call Date, in each case discounted to the redemption date on a semiannual
    basis at the Treasury Rate plus 40 basis points, provided that, if the 3.750% Notes due 2040 are redeemed on or after the
    2040 Par Call Date, the Redemption Price will equal 100% of the principal amount of such notes; plus, in each case, accrued
    and unpaid interest thereon to the date of redemption</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Additional Issuances&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">An unlimited amount of additional 3.750% Notes due 2040 may be issued. The 3.750% Notes
    due 2040 and any additional 3.750% Notes due 2040 that may be issued may be treated as a single series for all purposes under
    the Indenture</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">CUSIP / ISIN&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">20030N DH1 / US20030NDH17</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Public Offering Price&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">99.456% plus accrued interest, if any, from March 27, 2020</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Underwriters&rsquo; Discount&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">0.600%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Net Proceeds to Comcast, Before Expenses&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">98.856% per $1,000 principal amount of 3.750% Notes due 2040; $790,848,000 total</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">It is expected
that delivery of the notes will be made against payment therefor on or about March 27, 2020, which is the third business day following
the date hereof (such settlement cycle being referred to as &ldquo;T+3&rdquo;). Under Rule 15c6-1 under the Securities Exchange
Act of 1934, as amended, trades in the secondary market generally are required to settle in two business days unless the parties
to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the notes prior to the second 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 and should consult their own advisors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">The issuer
has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates.
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. You may get these documents for free by visiting EDGAR
on the SEC Web site at <FONT STYLE="color: Blue"><U>www.sec.gov</U></FONT>. Alternatively, the issuer, any underwriter or any
dealer participating in the offering will arrange to send you the prospectus if you request it by calling BofA Securities, Inc.
at 800-294-1322, Citigroup Global Markets Inc. at 800-831-9146, J.P. Morgan Securities LLC at 212-834-4533, Morgan Stanley &amp;
Co. LLC at 866-718-1649 or Wells Fargo Securities, LLC at 800-645-3751.</FONT></P>

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