<SEC-DOCUMENT>0000950103-22-018793.txt : 20221031
<SEC-HEADER>0000950103-22-018793.hdr.sgml : 20221031
<ACCEPTANCE-DATETIME>20221031172006
ACCESSION NUMBER:		0000950103-22-018793
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20221031
DATE AS OF CHANGE:		20221031

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:	333-266390
		FILM NUMBER:		221347174

	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>
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<FILENAME>dp183476_fwp.htm
<DESCRIPTION>FORM FWP
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Filed Pursuant to Rule 433<BR>
Registration Statement Number 333-266390<BR>
October 31, 2022</P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">$750,000,000 5.250% NOTES DUE 2025<BR>
$750,000,000 5.350% NOTES DUE 2027<BR>
$1,000,000,000 5.500% NOTES DUE 2032</P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; width: 51%; padding-right: 6pt; padding-bottom: 6pt">Issuer&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; width: 49%; padding-right: 6pt; padding-bottom: 6pt">Comcast Corporation (the &ldquo;<B>Company</B>&rdquo;)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Guarantors&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">Comcast Cable Communications, LLC and NBCUniversal Media, LLC</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Issue of Securities&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">5.250% Notes due 2025<BR>
5.350% Notes due 2027<BR>
5.500% Notes due 2032</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Denominations&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">$2,000 and multiples of $1,000 in excess thereof</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Use of Proceeds&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt"><FONT STYLE="background-color: white">The Company intends to use the net proceeds from the offering for the refinancing of outstanding debt, including Comcast Cable Communications Holdings Inc.&rsquo;s 9.455% notes due November 15, 2022 ($1.07 billion principal amount outstanding as of the date hereof) and Sky plc&rsquo;s 3.125% notes due November 26, 2022 ($800 million principal amount outstanding as of the date hereof), and for general corporate purposes. Affiliates of certain of the underwriters may be holders of the 9.455% notes due November 15, 2022 and the 3.125% notes due November 26, 2022, and accordingly, may receive a portion of the net proceeds from this offering.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Indenture&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">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 and as further amended by the Second Supplemental Indenture dated as of July 29, 2022 by and among the Company, the guarantors named therein and the Trustee.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Trustee&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">The Bank of New York Mellon</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Expected Ratings<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1</SUP></FONT>&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">Moody&rsquo;s: A3; S&amp;P: A-; Fitch: A-</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Joint Book-Running Managers&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Citigroup Global Markets Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">J.P. Morgan Securities
LLC&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">TD Securities (USA) LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">BofA Securities, Inc.</P>
    </TD></TR>
  </TABLE>



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

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


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

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 15%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->




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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><SUP>1</SUP></B></FONT><B> 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></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; width: 48%; padding-right: 6pt; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; width: 52%; padding-right: 6pt; padding-bottom: 6pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">BNP Paribas Securities Corp.&#9;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">SMBC Nikko Securities America, Inc.&#9;</P>
    </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Co-Managers&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Barclays Capital Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Commerz Markets LLC&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Credit Suisse Securities (USA) LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Deutsche Bank Securities
Inc.&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Goldman Sachs &amp; Co. LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Mizuho Securities USA
LLC&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Morgan Stanley &amp; Co. LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">RBC Capital Markets, LLC&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Santander Investment Securities Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">U.S. Bancorp Investments,
Inc.&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Wells Fargo Securities, LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">DNB Markets, Inc.&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">ICBC Standard Bank Plc</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">PNC Capital Markets LLC&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">SG Americas Securities, LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Academy Securities, Inc.&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">BNY Mellon Capital Markets, LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">ING Financial Markets
LLC&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Intesa Sanpaolo S.p.A.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Loop Capital Markets LLC&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">NatWest Markets Securities Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Scotia Capital (USA) Inc.&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Truist Securities, Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Mischler Financial Group,
Inc.&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">R. Seelaus &amp; Co., LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Samuel A. Ramirez &amp;
Company, Inc.&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Siebert Williams Shank &amp; Co., LLC&#9;</P>
    </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Trade Date&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">October 31, 2022</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Settlement Date&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">November 7, 2022 (T+5)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Risk Factors&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">Investing in the notes involves certain risks. See &ldquo;Item 1A-Risk Factors&rdquo; beginning on page 22 of the Company&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2021.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; font-weight: bold; padding-right: 6pt; padding-bottom: 6pt">5.250% Notes Due 2025</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; font-weight: bold; padding-right: 6pt; padding-bottom: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Aggregate Principal Amount&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">$750,000,000</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Maturity Date&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">November 7, 2025 (the &ldquo;<B>2025 Maturity Date</B>&rdquo;)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Interest Rate&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">5.250% per annum, accruing from November 7, 2022 (calculated on the basis of a 360-day year consisting of twelve 30-day months)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Interest Payment Dates&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">May 7 and November 7, commencing May 7, 2023</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Benchmark Treasury&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">UST 4.250% due October 15, 2025</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Benchmark Treasury Price/Yield&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">99-13+ / 4.460%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Spread to Benchmark Treasury&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">+80 bps</TD></TR>
  </TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; width: 48%; padding-right: 6pt; padding-bottom: 6pt">Yield to Maturity&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; width: 52%; padding-right: 6pt; padding-bottom: 6pt">5.260%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Optional Redemption&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">The Company may redeem the 5.250% Notes due 2025 at its option, in whole or in part, at any time and from time to time, at a redemption price (expressed as a percentage of the principal amount and rounded to three decimal places) equal to the greater of: (1) (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon 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 (as defined below) plus 15 basis points, less (b) interest accrued to the date of redemption, and (2) 100% of the principal amount of the 5.250% Notes due 2025 to be redeemed, plus, in either case, accrued and unpaid interest thereon to the redemption date.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Additional Issuances&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">An unlimited amount of additional 5.250% Notes due 2025 may be issued. The 5.250% Notes due 2025 and any additional 5.250% Notes due 2025 that may be issued may be treated as a single series for all purposes under the Indenture.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">CUSIP / ISIN&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">20030N DZ1 / US20030NDZ15</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Public Offering Price&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">99.973% plus accrued interest, if any, from November 7, 2022</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Underwriters&rsquo; Discount&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">0.200%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Net Proceeds to Comcast, Before Expenses&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">99.773% per $1,000 principal amount of 5.250% Notes due 2025; $748,297,500 total</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; font-weight: bold; padding-right: 6pt; padding-bottom: 6pt">5.350% Notes Due 2027</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; font-weight: bold; padding-right: 6pt; padding-bottom: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Aggregate Principal Amount&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">$750,000,000</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Maturity Date&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">November 15, 2027</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Interest Rate&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">5.350% per annum, accruing from November 7, 2022 (calculated on the basis of a 360-day year consisting of twelve 30-day months)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Interest Payment Dates&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">May 15 and November 15, commencing May 15, 2023</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Benchmark Treasury&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">UST 4.125% due October 31, 2027</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Benchmark Treasury Price/Yield&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">99-12&frac34; / 4.260%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Spread to Benchmark Treasury&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">+110 bps</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Yield to Maturity&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">5.360%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Optional Redemption&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Prior to October 15, 2027 (one (1) month prior to the maturity
    date of the 5.350% Notes due 2027) (the &ldquo;<B>2027 Par Call Date</B>&rdquo;), the Company may redeem the 5.350% Notes due 2027 at
    its option, in whole or in part, at any time and from time to time, at a redemption price (expressed as a percentage of the principal
    amount and rounded to three decimal places) equal to the greater of:</P>
    </TD></TR>
  </TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; width: 48%; padding-right: 6pt; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; width: 52%; padding-right: 6pt; padding-bottom: 6pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">(1) (a) the sum of the present values of the remaining scheduled
    payments of principal and interest thereon discounted to the redemption date (assuming that the 5.350% Notes due 2027 matured on the 2027
    Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below)
    plus 20 basis points, less (b) interest accrued to the date of redemption, and (2) 100% of the principal amount of the 5.350% Notes due
    2027 to be redeemed, plus, in either case, accrued and unpaid interest thereon to the redemption date.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">On or after the 2027 Par Call Date, the Company may redeem
    the 5.350% Notes due 2027, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal
    amount of the 5.350% Notes due 2027 being redeemed plus accrued and unpaid interest thereon to the redemption date.</P>
    </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Additional Issuances&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">An unlimited amount of additional 5.350% Notes due 2027 may be issued. The 5.350% Notes due 2027 and any additional 5.350% Notes due 2027 that may be issued may be treated as a single series for all purposes under the Indenture.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">CUSIP / ISIN&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">20030N EA5 / US20030NEA54</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Public Offering Price&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">99.955% of principal amount plus accrued interest, if any, from November 7, 2022</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Underwriters&rsquo; Discount&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">0.250%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Net Proceeds to Comcast, Before Expenses&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">99.705% per $1,000 principal amount of 5.350% Notes due 2027; $747,787,500 total</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; font-weight: bold; padding-right: 6pt; padding-bottom: 6pt">5.500% Notes Due 2032</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; font-weight: bold; padding-right: 6pt; padding-bottom: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Aggregate Principal Amount&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">$1,000,000,000</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Maturity Date&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">November 15, 2032</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Interest Rate&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">5.500% per annum, accruing from November 7, 2022 (calculated on the basis of a 360-day year consisting of twelve 30-day months)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Interest Payment Dates&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">May 15 and November 15, commencing May 15, 2023</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Benchmark Treasury&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">UST 2.750% due August 15, 2032</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Benchmark Treasury Price/Yield&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">89-10+ / 4.083%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Spread to Benchmark Treasury&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">+150 bps</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Yield to Maturity&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">5.583%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Optional Redemption&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Prior to August 15, 2032 (three (3) months prior to the maturity
    date of the 5.500% Notes due 2032) (the &ldquo;<B>2032 Par Call Date</B>&rdquo;; the 2027 Par Call Date and the 2032 Par Call Date, each,
    a &ldquo;<B>Par Call Date</B>&rdquo;), the Company may redeem the 5.500% Notes due 2032 at its option, in</P>
    </TD></TR>
  </TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; width: 48%; padding-right: 6pt; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; width: 52%; padding-right: 6pt; padding-bottom: 6pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">whole or in part, at any time and from time to time, at a
    redemption price (expressed as a percentage of the principal amount and rounded to three decimal places) equal to the greater of: (1)
    (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date
    (assuming that the 5.500% Notes due 2032 matured on the 2032 Par Call Date) on a semi-annual basis (assuming a 360-day year consisting
    of twelve 30-day months) at the Treasury Rate (as defined below) plus 25 basis points, less (b) interest accrued to the date of redemption,
    and (2) 100% of the principal amount of the 5.500% Notes due 2032 to be redeemed, plus, in either case, accrued and unpaid interest thereon
    to the redemption date.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">On or after the 2032 Par Call Date, the Company may redeem
    the 5.500% Notes due 2032, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal
    amount of the 5.500% Notes due 2032 being redeemed plus accrued and unpaid interest thereon to the redemption date.</P>
    </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Additional Issuances&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">An unlimited amount of additional 5.500% Notes due 2032 may be issued. The 5.500% Notes due 2032 and any additional 5.500% Notes due 2032 that may be issued may be treated as a single series for all purposes under the Indenture.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">CUSIP / ISIN&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">20030N EB3 / US20030NEB38</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Public Offering Price&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">99.368% plus accrued interest, if any, from November 7, 2022</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Underwriters&rsquo; Discount&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">0.400%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 6pt; padding-bottom: 6pt">Net Proceeds to Comcast, Before Expenses&#9;</TD>
    <TD STYLE="padding-top: 6pt; text-align: left; padding-right: 6pt; padding-bottom: 6pt">98.968% per $1,000 principal amount of 5.500% Notes due 2032; $989,680,000 total</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Definition of &ldquo;Treasury Rate&rdquo; used
for Optional Redemptions</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&ldquo;Treasury Rate&rdquo; means, with respect
to any redemption date, the yield determined by the Company in accordance with the following two paragraphs.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The Treasury Rate shall be determined by the Company
after 4:15 p.m., New York City time (or after such time as yields on U.S. government securities are posted daily by the Board of Governors
of the Federal Reserve System), on the third business day preceding the redemption date based upon the yield or yields for the most recent
day that appear after such time on such day in the most recent statistical release published by the Board of Governors of the Federal
Reserve System designated as &ldquo;Selected Interest Rates (Daily) - H.15&rdquo; (or any successor designation or publication) (&ldquo;<B>H.15</B>&rdquo;)
under the caption &ldquo;U.S. government securities&ndash;Treasury constant maturities&ndash;Nominal&rdquo; (or any successor caption
or heading) (&ldquo;<B>H.15 TCM</B>&rdquo;). In determining the Treasury Rate, the Company shall select, as applicable: (1) the yield
for the Treasury constant maturity on H.15 exactly equal to the period from the redemption date to the 2025 Maturity Date or the applicable
Par Call Date, as applicable (the &ldquo;<B>Remaining Life</B>&rdquo;); or (2) if there is no such Treasury constant maturity on H.15
exactly equal to the Remaining Life, the two yields &ndash; one yield corresponding to the Treasury constant maturity on H.15 immediately
shorter than and one yield corresponding to the Treasury constant maturity on H.15 immediately longer than the Remaining Life &ndash;
and shall interpolate to the 2025 Maturity Date or the applicable Par Call Date, as applicable, on a straight-line basis (using the actual
number of days) using such yields and rounding the result to three decimal places; or (3) if there is no such Treasury</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">constant maturity on H.15 shorter than or longer
than the Remaining Life, the yield for the single Treasury constant maturity on H.15 closest to the Remaining Life. For purposes of this
paragraph, the applicable Treasury constant maturity or maturities on H.15 shall be deemed to have a maturity date equal to the relevant
number of months or years, as applicable, of such Treasury constant maturity from the redemption date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">If on the third business day preceding the redemption
date H.15 TCM is no longer published, the Company shall calculate the Treasury Rate based on the rate per annum equal to the semi-annual
equivalent yield to maturity at 11:00 a.m., New York City time, on the second business day preceding such redemption date of the United
States Treasury security maturing on, or with a maturity that is closest to, the 2025 Maturity Date or the relevant Par Call Date, as
applicable. If there is no United States Treasury security maturing on the 2025 Maturity Date or the applicable Par Call Date, as applicable,
but there are two or more United States Treasury securities with a maturity date equally distant from the 2025 Maturity Date or the applicable
Par Call Date, as applicable, one with a maturity date preceding such 2025 Maturity Date or Par Call Date, as applicable, and one with
a maturity date following such 2025 Maturity Date or Par Call Date, as applicable, the Company shall select the United States Treasury
security with a maturity date preceding the 2025 Maturity Date or the applicable Par Call Date, as applicable. If there are two or more
United States Treasury securities maturing on the 2025 Maturity Date or the applicable Par Call Date, as applicable, or two or more United
States Treasury securities meeting the criteria of the preceding sentence, the Company shall select from among these two or more United
States Treasury securities the United States Treasury security that is trading closest to par based upon the average of the bid and asked
prices for such United States Treasury securities at 11:00 a.m., New York City time. In determining the Treasury Rate in accordance with
the terms of this paragraph, the semi-annual yield to maturity of the applicable United States Treasury security shall be based upon the
average of the bid and asked prices (expressed as a percentage of the principal amount) at 11:00 a.m., New York City time, of such United
States Treasury security, and rounded to three decimal places.</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">It is expected that delivery of the notes will
be made against payment therefor on or about November 7, 2022, which is the fifth business day following the date hereof (such settlement
cycle being referred to as &ldquo;T+5&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+5, to specify an alternative settlement cycle at the time of any such trade
to prevent failed settlement and should consult their own advisors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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 Citigroup Global Markets Inc. at 1-800-831-9146, J.P. Morgan Securities LLC collect at 1-212-834-4533 and TD Securities
(USA) LLC at 1-855-495-9846.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="background-color: white"><B>Any disclaimer
or other notice that may appear below is not applicable to this communication and should be disregarded. Such disclaimer or notice was
automatically generated as a result of this communication being sent by Bloomberg or another email system.</B></FONT></P>

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


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