<SEC-DOCUMENT>0000930413-17-002584.txt : 20170725
<SEC-HEADER>0000930413-17-002584.hdr.sgml : 20170725
<ACCEPTANCE-DATETIME>20170725172310
ACCESSION NUMBER:		0000930413-17-002584
CONFORMED SUBMISSION TYPE:	424B2
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20170725
DATE AS OF CHANGE:		20170725

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COLGATE PALMOLIVE CO
		CENTRAL INDEX KEY:			0000021665
		STANDARD INDUSTRIAL CLASSIFICATION:	PERFUMES, COSMETICS & OTHER TOILET PREPARATIONS [2844]
		IRS NUMBER:				131815595
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B2
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-199584
		FILM NUMBER:		17981151

	BUSINESS ADDRESS:	
		STREET 1:		300 PARK AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2123102000

	MAIL ADDRESS:	
		STREET 1:		300 PARK AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B2
<SEQUENCE>1
<FILENAME>c88458_424b2.htm
<TEXT>
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<HEAD>
     <TITLE></TITLE>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CALCULATION OF REGISTRATION FEE</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 34%; border: Black 1px solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Title of each class of securities <BR>
offered</B></FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1px solid; border-right: Black 1px solid; border-bottom: Black 1px solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Maximum aggregate</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>offering price<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1px solid; border-right: Black 1px solid; border-bottom: Black 1px solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount of registration fee<SUP>(2)</SUP></B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: Black 1px solid; border-bottom: Black 1px solid; border-left: Black 1px solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Medium-Term Notes, Series H, 3.700% Notes, Due August 1, 2047</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1px solid; border-bottom: Black 1px solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">$496,590,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1px solid; border-bottom: Black 1px solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">$57,554.79</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-indent: -36pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font-size: 8pt">
<TD STYLE="width: 0; font-size: 8pt"></TD><TD STYLE="width: 36pt; font-size: 8pt">(1)</TD><TD STYLE="font-size: 8pt">Excludes accrued interest,
                                                                           if any.</TD></TR>
<TR STYLE="vertical-align: top; font-size: 8pt">
<TD STYLE="width: 0; font-size: 8pt"></TD><TD STYLE="width: 36pt; font-size: 8pt">(2)</TD><TD STYLE="font-size: 8pt">The registration
                                                                                            fee of $57,554.79 is calculated in
                                                                                            accordance with Rule 457(r) under
                                                                                            the Securities Act of 1933, as amended.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-indent: -36pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font-size: 10pt">
    <TD STYLE="width: 70%; padding-right: 5.75pt; font-size: 10pt"><B>Pricing Supplement No. 4 dated July
    24, 2017</B><BR>
    <B>(To Prospectus dated October 24, 2014 and Prospectus Supplement dated October 24, 2014)</B></TD>
    <TD STYLE="width: 30%; font-size: 10pt; text-align: right">Filed Pursuant to
    Rule 424(b)(2)<BR>
    Registration No. 333-199584</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0; text-align: center">Colgate-Palmolive Company</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Medium-Term Notes <FONT STYLE="font-family: Symbol">-</FONT>
Fixed Rate</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 36pt">We are hereby offering to sell Notes having
the terms specified below to you with the assistance of the agents listed below, each acting as principal (collectively, the &ldquo;Agents&rdquo;)
for whom Goldman Sachs &amp; Co. LLC, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are acting as joint book-running
managers, at a fixed initial public offering price of 99.318% of the principal amount.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font-size: 10pt">
    <TD STYLE="width: 55%; padding-right: 5.75pt; font-size: 10pt">Principal Amount:&nbsp;&nbsp;$500,000,000</TD>
    <TD STYLE="width: 45%; padding-right: 5.75pt; font-size: 10pt">Trade Date: &nbsp;July 24, 2017</TD></TR>
<TR STYLE="vertical-align: top; font-size: 10pt">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Issue Price: 99.318%</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Interest Rate: 3.700%</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Stated Maturity Date: August 1, 2047</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">CUSIP Number: 19416QEK2</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">ISIN: US19416QEK22</P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 13.6pt; font-size: 10pt; text-indent: -13.6pt">Original Issue Date:&nbsp;&nbsp;July
    28, 2017, which is four business days after the date of this pricing supplement (referred to as &ldquo;T+4&rdquo;). Accordingly,
    purchasers wishing to trade Notes on the date hereof will be required, because the initial Notes offering will not settle
    in T+3, to specify an alternative settlement arrangement to prevent a failed settlement.</TD></TR>
<TR STYLE="vertical-align: top; font-size: 10pt">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt">Net Proceeds to Colgate:&nbsp;&nbsp;$492,215,000</TD></TR>
<TR STYLE="vertical-align: top; font-size: 10pt">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt">Agents&rsquo; Discount or Commission:&nbsp;&nbsp;$4,375,000</TD></TR>
<TR STYLE="vertical-align: top; font-size: 10pt">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0">                                                                                                                                                                                                                                                                                                                                                                                                                           <TR STYLE="vertical-align: top; font-size: 10pt">
<TD STYLE="font-size: 10pt">Interest Payment Dates:</TD><TD STYLE="font-size: 10pt">February 1 and August 1 of each year,
commencing on February 1, 2018</TD></TR>
<TR STYLE="vertical-align: top; font-size: 10pt">
<TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font-size: 10pt">
<TD STYLE="width: 108pt; font-size: 10pt">Redemption:</TD><TD STYLE="font-size: 10pt">The Notes may be redeemed at the option of Colgate prior to the stated maturity date. See &ldquo;Other Provisions &ndash; Optional
Redemption&rdquo; below.</TD></TR>                                  <TR STYLE="vertical-align: top; font-size: 10pt">
<TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font-size: 10pt">
<TD STYLE="font-size: 10pt">Optional Repayment:</TD><TD STYLE="font-size: 10pt">N/A</TD></TR>
</TABLE>




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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: -36pt">Currency:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 10%"></TD><TD STYLE="width: 10%; text-align: left">Specified Currency:</TD><TD STYLE="text-align: justify; padding-left: 5pt; width: 80%">US Dollars</TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD NOWRAP STYLE="text-align: left">Minimum Denomination:&nbsp;</TD><TD STYLE="text-align: justify; padding-left: 5pt"> $1,000</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify; padding-left: 5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD COLSPAN="3">Original Issue Discount: No</TD></TR>

<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 10%; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: justify; width: 10%">Total amount of OID:</TD>
    <TD STYLE="width: 80%">&nbsp;</TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">Yield to Maturity:</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: justify">Initial Accrual Period:</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: -36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Form:&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">x</FONT>&nbsp;&nbsp;&nbsp;&nbsp;Book-entry&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">o</FONT>&nbsp;Certificated</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: -36pt"><FONT STYLE="font-family: Wingdings">x</FONT>&nbsp;Other Provisions:<BR>
<BR>
Optional Redemption:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: -36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The Notes may be redeemed at our option,
at any time in whole or from time to time in part prior to February 1, 2047 (six months prior to the stated maturity date for
the Notes, the &ldquo;Par Call Date&rdquo;), at a redemption price for the Notes to be redeemed equal to the greater of the following
amounts:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font-size: 10pt">
<TD STYLE="width: 18pt; font-size: 10pt"></TD><TD STYLE="width: 27pt; font-size: 10pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="font-size: 10pt">100%
                                         of the principal amount of the Notes being redeemed on the redemption date; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font-size: 10pt">
<TD STYLE="width: 18pt; font-size: 10pt"></TD><TD STYLE="width: 27pt; font-size: 10pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="font-size: 10pt">the
                                         sum of the present values of the remaining scheduled payments of principal and interest
                                         on the Notes being redeemed on that redemption date, to and including the Par Call Date
                                         (not including any portion of any payments of interest accrued to the redemption date)
                                         discounted to the redemption date on a semiannual basis at the Treasury Rate (as defined
                                         below), as determined by the Independent Investment Banker (as defined below), plus 15
                                         basis points;</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">plus, in each case, accrued and unpaid interest
on the Notes to, but not including, the redemption date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">In addition, at any time on or after the
Par Call Date, the Notes may be redeemed at our option, at any time in whole or from time to time in part, at a redemption price
for the Notes to be redeemed equal to 100% of the principal amount of such Notes, plus accrued and unpaid interest to, but not
including, the redemption date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">Notwithstanding the foregoing, installments
of interest on the Notes that are due and payable on interest payment dates falling on or prior to a redemption date will be payable
on the interest payment date to the registered holders as of the close of business on the relevant record date according to the
Notes and the indenture. The redemption price will be calculated on the basis of a 360-day year consisting of twelve 30-day months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">We will mail notice of any redemption at
least 30 days but not more than 60 days before the redemption date to each registered holder of the Notes to be redeemed. Once
notice of redemption is mailed, the Notes called for redemption will become due and payable on the redemption date and at the
applicable redemption price, plus accrued and unpaid interest to, but not including, the redemption date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&ldquo;Treasury Rate&rdquo; means, with
respect to any applicable redemption date, the rate per annum equal to the semiannual equivalent yield to maturity of the Comparable
Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to
the Comparable Treasury Price for such redemption date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&ldquo;Comparable Treasury Issue&rdquo;
means the United States Treasury security selected by the Independent Investment Banker as having a maturity comparable to the
remaining term of the Notes to be</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0pt">redeemed (assuming that the Notes matured
on the Par Call Date) that would be utilized, at the time of selection and in accordance with customary financial practice, in
pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Notes (assuming that the Notes
matured on the Par Call Date).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&ldquo;Comparable Treasury Price&rdquo;
means, with respect to any applicable redemption date, (A) the average of the Reference Treasury Dealer Quotations for such redemption
date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (B) if the trustee obtains fewer than
three such Reference Treasury Dealer Quotations, the average of all such Quotations, or (C) if only one Reference Treasury Dealer
Quotation is received, such Quotation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&ldquo;Independent Investment Banker&rdquo;
means one of the Reference Treasury Dealers appointed by the trustee after consultation with us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&ldquo;Reference Treasury Dealer&rdquo;
means each of Goldman Sachs &amp; Co. LLC, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC (or their respective affiliates
which are Primary Treasury Dealers), and their respective successors; provided, however, that if any of the foregoing shall cease
to be a primary U.S. Government securities dealer in New York City (a &ldquo;Primary Treasury Dealer&rdquo;), we will substitute
therefor another Primary Treasury Dealer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&ldquo;Reference Treasury Dealer Quotation&rdquo;
means, with respect to each Reference Treasury Dealer and any applicable redemption date, the average, as determined by the trustee,
of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount)
quoted in writing to the trustee by such Reference Treasury Dealer at 5:00 p.m. (New York City time) on the third business day
preceding such redemption date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">On and after the redemption date, interest
will cease to accrue on the Notes or any portion of the Notes called for redemption (unless we default in the payment of the redemption
price and accrued interest). On or before the redemption date, we will deposit with a paying agent or the trustee money sufficient
to pay the redemption price of and accrued interest on the Notes to be redeemed on that date. If less than all of the securities
of any series are to be redeemed, the securities to be redeemed shall be selected by the trustee by a method the trustee deems
to be fair and appropriate. The Notes will not be entitled to the benefit of any mandatory redemption or sinking fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Use of Proceeds</U>:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The net proceeds from the sale of the Notes
will be used by Colgate for general corporate purposes, which include the retirement of commercial paper. As of July 19, 2017,
Colgate&rsquo;s outstanding commercial paper had a weighted average interest rate of 1.11% with maturities ranging from one day
to 49 days.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Supplemental United States Federal Income Tax Considerations:</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following discussion supplements the
discussion contained in the prospectus supplement under the caption &ldquo;Certain United States Federal Income Tax Considerations&mdash;Backup
Withholding.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to Treasury regulations, Foreign
Account Tax Compliance Act (&ldquo;FATCA&rdquo;) withholding will generally apply to obligations that are issued or on after July
1, 2014; therefore, the Notes will generally be subject to FATCA withholding. However, according to published guidance, this FATCA
withholding tax will not apply to payments of gross proceeds from the sale, exchange, redemption or other disposition of the Notes
made before January 1, 2019.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Supplemental Plan of Distribution</U>:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The Agents have agreed, severally and not
jointly, to purchase from us, and we have agreed to sell to the Agents, the principal amount of Notes set forth opposite their
respective names below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; border-bottom: Black 1px solid">Agents</TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1px solid">Principal Amount<BR> of Notes</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="width: 70%; text-align: left">Goldman Sachs &amp; Co. LLC</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 9%; text-align: right">$</TD><TD STYLE="width: 6%; text-align: right">100,000,000</TD><TD STYLE="width: 7%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">J.P. Morgan Securities LLC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">100,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left">Wells Fargo Securities, LLC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">100,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">ANZ Securities, Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">15,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left">Barclays Capital Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">15,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">BBVA Securities Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">15,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left">BNP Paribas Securities Corp.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">15,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">BNY Mellon Capital Markets, LLC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">15,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left">Citigroup Global Markets Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">15,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">HSBC Securities (USA) Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">15,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left">ICBC Standard Bank Plc</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">15,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">15,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left">Mizuho Securities USA  LLC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">15,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Morgan Stanley &amp; Co. LLC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">15,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left">Santander Investment Securities Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">15,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">U.S. Bancorp Investments, Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">15,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; padding-bottom: 1px">The Williams Capital Group, L.P.</TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; text-align: right">5,000,000</TD><TD STYLE="border-bottom: Black 1px solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 3px">Total</TD><TD STYLE="padding-bottom: 3px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3px double; text-align: right">$</TD><TD STYLE="border-bottom: Black 3px double; text-align: right">500,000,000</TD><TD STYLE="border-bottom: Black 3px double; text-align: left">&nbsp;</TD></TR>
</TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">ICBC Standard Bank Plc is restricted in its U.S. securities
dealings under the United States Bank Holding Company Act and may not underwrite, subscribe, agree to purchase or procure purchasers
to purchase Notes that are offered or sold in the United States. Accordingly, ICBC Standard Bank Plc shall not be obligated to,
and shall not, underwrite, subscribe, agree to purchase or procure purchasers to purchase Notes that may be offered or sold by
other Agents in the United States. ICBC Standard Bank Plc shall offer and sell the Notes constituting its allotment solely outside
the United States.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Book-Entry System; Delivery and Form:</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Clearstream and Euroclear</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Beneficial interests in the global notes
with respect to the Notes will be represented through book-entry accounts of financial institutions acting on behalf of beneficial
owners as direct and indirect participants in The Depository Trust Company (&ldquo;DTC&rdquo;). Investors may hold interests in
the global notes through either DTC (in the United States), Clearstream Banking, S.A. (&ldquo;Clearstream&rdquo;), or Euroclear
Bank SA/NV (&ldquo;Euroclear&rdquo;), in Europe, either directly if they are participants in such systems or indirectly through
organizations that are participants in such systems. Clearstream and Euroclear will hold interests on behalf of their participants
through customers&rsquo; securities accounts in Clearstream&rsquo;s and Euroclear&rsquo;s names on the books of their U.S. depositaries,
which in turn will hold such interests in customers&rsquo; securities accounts in the U.S. depositaries&rsquo; names on the books
of DTC.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have obtained the information in this
section concerning DTC, Clearstream and Euroclear and the book-entry system and procedures from sources that we believe to be
reliable, but we take no responsibility for the accuracy of this information.</P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font-size: 10pt">
    <TD STYLE="width: 36pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 8pt; font-size: 10pt">&bull;</TD>
    <TD STYLE="vertical-align: top; width: 2pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">DTC is a limited-purpose trust company organized under the New York Banking
    Law, a &ldquo;banking organization&rdquo; within the meaning of the New York Banking Law, a member of the Federal Reserve
    System, a &ldquo;clearing corporation&rdquo; within the meaning of the New York Uniform Commercial Code and a &ldquo;clearing
    agency&rdquo; registered under Section 17A of the Exchange Act. </TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font-size: 10pt">
    <TD STYLE="width: 36pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 8pt; font-size: 10pt">&bull;</TD>
    <TD STYLE="vertical-align: top; width: 2pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">DTC holds securities that its participants deposit with DTC and facilitates
    the settlement among participants of securities transactions, such as transfers and pledges, in deposited securities through
    electronic computerized book-entry changes in participants&rsquo; accounts, thereby eliminating the need for physical movement
    of certificates. </TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font-size: 10pt">
    <TD STYLE="width: 36pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 8pt; font-size: 10pt">&bull;</TD>
    <TD STYLE="vertical-align: top; width: 2pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Direct participants include securities brokers and dealers, banks, trust
    companies, clearing corporations and other organizations. </TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font-size: 10pt">
    <TD STYLE="width: 36pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 8pt; font-size: 10pt">&bull;</TD>
    <TD STYLE="vertical-align: top; width: 2pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">The Depository Trust &amp; Clearing Corporation (&ldquo;DTCC&rdquo;) is the
    holding company for DTC, National Securities Clearing Corporation and Fixed Income Clearing Corporation, all of which are
    registered clearing agencies. DTCC is owned by the users of its regulated subsidiaries. </TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font-size: 10pt">
    <TD STYLE="width: 36pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 8pt; font-size: 10pt">&bull;</TD>
    <TD STYLE="vertical-align: top; width: 2pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Access to the DTC system is also available to others such as securities brokers
    and dealers, banks, trust companies and clearing corporations that clear through or maintain a custodial relationship with
    a direct participant, either directly or indirectly. </TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font-size: 10pt">
    <TD STYLE="width: 36pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 8pt; font-size: 10pt">&bull;</TD>
    <TD STYLE="vertical-align: top; width: 2pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">The rules applicable to DTC and its direct and indirect participants are
    on file with the SEC. </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We understand that Clearstream is incorporated
under the laws of Luxembourg as a professional depositary. Clearstream holds securities for its customers and facilitates the
clearance and settlement of securities transactions between its customers through electronic book-changes in accounts of its customers,
thereby eliminating the need for physical movement of certificates. Clearstream provides to its customers, among other things,
services for safekeeping, administration, clearance and settlement of internationally traded securities and securities lending
and borrowing. Clearstream interfaces with domestic markets in several countries. As a professional depositary, Clearstream is
subject to regulation by the Luxembourg Commission for the Supervision of the Financial Section. Clearstream customers are recognized
financial institutions around the world, including underwriters, securities brokers and dealers, banks, trust companies, clearing
corporations and other organizations and may include the Agents. Indirect access to Clearstream is also available to others, such
as banks, brokers, dealers and trust companies that clear through or maintain a custodial relationship with a Clearstream customer
either directly or indirectly.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We understand that Euroclear was created
in 1968 to hold securities for participants of Euroclear and to clear and settle transactions between Euroclear participants through
simultaneous electronic book-entry delivery against payment, thereby eliminating the need for physical movement of certificates
and any risk from lack of simultaneous transfers of securities and cash. Euroclear provides various other services, including
securities lending and borrowing and interfaces with domestic markets in several countries. Euroclear is operated by Euroclear
Bank SA/NV (the &ldquo;Euroclear Operator&rdquo;), under contract</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">with Euroclear Clearance Systems S.C., a Belgian cooperative
corporation (the &ldquo;Cooperative&rdquo;). All operations are conducted by the Euroclear Operator, and all Euroclear securities
clearance accounts and Euroclear cash accounts are accounts with the Euroclear Operator, not the Cooperative. The Cooperative
establishes policy for Euroclear on behalf of Euroclear participants. Euroclear participants include banks (including central
banks), securities brokers and dealers, and other professional financial intermediaries and may include the Agents. Indirect access
to Euroclear is also available to other firms that clear through or maintain a custodial relationship with a Euroclear participant,
either directly or indirectly.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We understand that the Euroclear Operator
is licensed by the Belgian Banking and Finance Commission to carry out banking activities on a global basis. As a Belgian bank,
it is regulated and examined by the Belgian Banking and Finance Commission.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have provided the descriptions of the
operations and procedures of DTC, Clearstream and Euroclear in this pricing supplement solely as a matter of convenience, and
we make no representation or warranty of any kind with respect to these operations and procedures. These operations and procedures
are solely within the control of those organizations and are subject to change by them from time to time. None of us, the Agents
or the Trustee takes any responsibility or assumes any liability for these operations or procedures, and you are urged to contact
DTC, Clearstream and Euroclear or their participants directly to discuss these matters.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We expect that under procedures established
by DTC:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font-size: 10pt">
    <TD STYLE="width: 36pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 8pt; font-size: 10pt">&bull;</TD>
    <TD STYLE="vertical-align: top; width: 2pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">upon deposit of the global notes with DTC or its custodian, DTC will credit
    on its internal system the accounts of direct participants designated by the Agents with portions of the principal amounts
    of the global notes of each series; and </TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font-size: 10pt">
    <TD STYLE="width: 36pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 8pt; font-size: 10pt">&bull;</TD>
    <TD STYLE="vertical-align: top; width: 2pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">ownership of the Notes will be shown on, and the transfer of ownership thereof
    will be effected only through, records maintained by DTC or its nominee, with respect to interests of direct participants,
    and the records of direct and indirect participants, with respect to interests of persons other than participants. </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The laws of some jurisdictions may require
that purchasers of securities take physical delivery of those securities in definitive form. Accordingly, the ability to transfer
interests in the Notes represented by a global note to those persons may be limited. In addition, because DTC can act only on
behalf of its participants, who in turn act on behalf of persons who hold interests through participants, the ability of a person
having an interest in Notes represented by a global note to pledge or transfer those interests to persons or entities that do
not participate in DTC&rsquo;s system, or otherwise to take actions in respect of such interest, may be affected by the lack of
a physical definitive security in respect of such interest.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">So long as DTC or its nominee is the registered
owner of a global note, DTC or that nominee will be considered the sole owner or holder of the Notes represented by that global
note for all purposes under the indenture and under the Notes. Except as provided below, owners of beneficial interests in a global
note will not be entitled to have Notes represented by that global note registered in their names, will not receive or be entitled
to receive physical delivery of certificated notes and will not be considered the owners or holders thereof under the indenture
or under the Notes for any purpose, including with respect to the giving of any direction, instruction or approval to the Trustee.
Accordingly, each holder owning a beneficial interest in a global note must rely on the procedures of DTC and, if that holder
is not a direct or indirect participant, on the procedures of the participant through which that holder owns its interest, to
exercise any rights of a holder of Notes under the indenture or a global note.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Neither we nor the Trustee will have any
responsibility or liability for any aspect of the records relating to or payments made on account of Notes by DTC, Clearstream
or Euroclear, or for maintaining, supervising or reviewing any records of those organizations relating to the Notes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In connection with any proposed transfer
outside the book-entry only system, we or DTC shall be required to provide or cause to be provided to the Trustee all information
necessary to allow the Trustee to comply with any applicable tax reporting obligations, including without limitation any cost
basis reporting obligations under the U.S. Internal Revenue Code of 1986, as amended (the &ldquo;Code&rdquo;), Section 6045. The
Trustee may rely on information provided to it and shall have no responsibility to verify or ensure the accuracy of such information.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any transferor shall also provide or cause
to be provided to the Trustee all information necessary to allow the Trustee to comply with any applicable tax reporting obligations,
including without limitation any cost basis reporting obligations under Code Section 6045. The Trustee may rely on information
provided to it and shall have no responsibility to verify or ensure the accuracy of such information.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Payments on the Notes represented by the
global notes will be made to DTC or its nominee, as the case may be, as the registered owner thereof. We expect that DTC or its
nominee, upon receipt of any payment on the Notes represented by a global note, will credit participants&rsquo; accounts with
payments in amounts proportionate to their respective beneficial interests in the global note as shown in the records of DTC or
its nominee. We also expect that payments by participants to owners of beneficial interests in the global note held through such
participants will be governed by standing instructions and customary practice as is now the case with securities held for the
accounts of customers registered in the names of nominees for such customers. The participants will be solely responsible for
those payments.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We understand that DTC will take any action
permitted to be taken by a holder of Notes only at the direction of one or more participants to whose account the DTC interests
in the global notes are credited and only in respect of such portion of the aggregate principal amount of Notes as to which such
participant or participants has or have given such direction. However, if there is an event of default under the indenture governing
the Notes, DTC will exchange the global notes for certificate securities, which it will distribute to its participants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Distributions on the Notes held beneficially
through Clearstream will be credited to cash accounts of its customers in accordance with its rules and procedures, to the extent
received by the U.S. depositary for Clearstream.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Securities clearance accounts and cash
accounts with the Euroclear Operator are governed by the Terms and Conditions Governing Use of Euroclear and the related Operating
Procedures of the Euroclear System, and applicable Belgian law (collectively referred to herein as the Terms and Conditions).
The Terms and Conditions govern transfers of securities and cash within Euroclear, withdrawals of securities and cash from Euroclear,
and receipts of payments with respect to securities in Euroclear. All securities in Euroclear are held on a fungible basis without
attribution of specific certificates to specific securities clearance accounts. The Euroclear Operator acts under the Terms and
Conditions only on behalf of Euroclear participants and has no record of or relationship with persons holding through Euroclear
participants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Distributions on the Notes held beneficially
through Euroclear will be credited to the cash accounts of its participants in accordance with the Terms and Conditions, to the
extent received by the U.S. depositary for Euroclear.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Clearance and Settlement Procedures</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Initial settlement for the Notes will be
made in immediately available funds. Secondary market trading between DTC participants will occur in the ordinary way in accordance
with DTC rules and will be settled in immediately available funds. Secondary market trading between Clearstream customers and/or
Euroclear participants will occur in the ordinary way in accordance with the applicable rules and operating procedures of Clearstream
and Euroclear, as applicable, and will be settled using the procedures applicable to conventional Eurobonds in immediately available
funds.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Cross-market transfers between persons
holding directly or indirectly through DTC, on the one hand, and directly or indirectly through Clearstream customers or Euroclear
participants, on the other, will be effected through DTC in accordance with DTC rules on behalf of the relevant European international
clearing system by the U.S. depositary. Such cross-market transactions, however, will require delivery of instructions to the
relevant European international clearing system by the counterparty in such system in accordance with its rules and procedures
and within its established deadlines (European time). The relevant European international clearing system will, if the transaction
meets its settlement requirements, deliver instructions to the U.S. depositary to take action to effect final settlement on its
behalf by delivering or receiving the Notes in DTC, and making or receiving payment in accordance with normal procedures for same-day
funds settlement applicable to DTC. Clearstream customers and Euroclear participants may not deliver instructions directly to
their U.S. depositaries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Because of time-zone differences, credits
of the Notes received in Clearstream or Euroclear as a result of a transaction with a DTC participant will be made during subsequent
securities settlement processing and dated the business day following the DTC settlement date. Such credits or any transactions
in the Notes settled during such processing will be reported to the relevant Clearstream customers or Euroclear participants on
such business day. Cash received in Clearstream or Euroclear as a result of sales of the Notes by or through a Clearstream customer
or a Euroclear participant to a DTC participant will be received with value on the DTC settlement date but will be available in
the relevant Clearstream or Euroclear cash account only as of the business day following settlement in DTC.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Although DTC, Clearstream and Euroclear
have agreed to the foregoing procedures to facilitate transfers of the Notes among participants of DTC. Clearstream and Euroclear,
they are under no obligation to perform or continue to perform such procedures and such procedures may be changed or discontinued
at any time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Selling Restrictions:</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Canada</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Notes may be sold only to purchasers
purchasing, or deemed to be purchasing, as principal that are accredited investors, as defined in National Instrument 45-106 Prospectus
Exemptions or subsection 73.3(1) of the Securities Act (Ontario), and are permitted clients, as defined in National Instrument
31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations. Any resale of the Notes must be made in accordance
with an exemption from, or in a transaction not subject to, the prospectus requirements of applicable securities laws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Securities legislation in certain provinces
or territories of Canada may provide a purchaser with remedies for rescission or damages if this pricing supplement (including
any amendment thereto) contains a misrepresentation, provided that the remedies for rescission or damages are exercised by the
purchaser within the time limit prescribed by the securities legislation of the purchaser&rsquo;s province or territory. The purchaser
should refer to any applicable provisions of the securities legislation of the purchaser&rsquo;s province or territory for particulars
of these rights or consult with a legal advisor.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to section 3A.3 of National Instrument
33-105 Underwriting Conflicts (&ldquo;NI 33-105&rdquo;), the Agents are not required to comply with the disclosure requirements
of NI 33-105 regarding underwriter conflicts of interest in connection with this offering.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>European Economic Area</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In relation to each Member State of the
European Economic Area which has implemented the Prospectus Directive (each, a Relevant Member State), with effect from and including
the date on which the Prospectus Directive is implemented in that Relevant Member State (the Relevant Implementation Date) no
offer of Notes may be made to the public in that Relevant Member State other than:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font-size: 10pt">
    <TD STYLE="width: 36pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 8pt; font-size: 10pt">&bull;</TD>
    <TD STYLE="vertical-align: top; width: 2pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">to any legal entity which is a qualified investor as defined in the Prospectus
    Directive; </TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font-size: 10pt">
    <TD STYLE="width: 36pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 8pt; font-size: 10pt">&bull;</TD>
    <TD STYLE="vertical-align: top; width: 2pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">to fewer than 150 natural or legal persons (other than qualified investors
    as defined in the Prospectus Directive), as permitted under the Prospectus Directive, subject to obtaining the prior consent
    of the representatives; or </TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font-size: 10pt">
    <TD STYLE="width: 36pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 8pt; font-size: 10pt">&bull;</TD>
    <TD STYLE="vertical-align: top; width: 2pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">in any other circumstances falling within Article 3(2) of the Prospectus
    Directive, </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">provided that no such offer of Notes shall require us or any
Agent to publish a prospectus pursuant to Article 3 of the Prospectus Directive or supplement a prospectus pursuant to Article
16 of the Prospective Directive.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For the purposes of this provision, the
expression an &ldquo;offer of notes to the public&rdquo; in relation to any Notes in any Relevant Member State means the communication
in any form and by any means of sufficient information on the terms of the offer and the Notes to be offered so as to enable an
investor to decide to purchase or subscribe the Notes, as the same may be varied in the Relevant Member State by any measure implementing
the Prospectus Directive in the Relevant Member State, the expression &ldquo;Prospectus Directive&rdquo; means Directive 2003/71/EC
(as amended, including by Directive 2010/73/EU), and includes any relevant implementing measure in the Relevant Member State.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>United Kingdom</I></B></P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font-size: 10pt">
    <TD STYLE="width: 36pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 8pt; font-size: 10pt">&bull;</TD>
    <TD STYLE="vertical-align: top; width: 2pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">has only communicated or caused to be communicated and will only communicate
    or cause to be communicated an invitation or inducement to engage in investment activity (within the meaning of Section 21
    of the Financial Services and Markets Act 2000, as amended (the &ldquo;FSMA&rdquo;)) received by it in connection with the
    issue or sale of the Notes in circumstances in which Section 21(1) of the FSMA does not apply to us; and </TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font-size: 10pt">
    <TD STYLE="width: 36pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 8pt; font-size: 10pt">&bull;</TD>
    <TD STYLE="vertical-align: top; width: 2pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">has complied and will comply with all applicable provisions of the FSMA with
    respect to anything done by it in relation to the Notes in, from or otherwise involving the United Kingdom. </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Switzerland</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Notes are not offered, sold or advertised,
directly or indirectly, in, into or from Switzerland on the basis of a public offering and will not be listed on the SIX Swiss
Exchange or any other offering or regulated trading facility in Switzerland. Accordingly, neither this pricing supplement nor
the related prospectus supplement and accompanying prospectus or other marketing material constitute a prospectus</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">as defined in article 652a or article 1156 of the Swiss Code
of Obligations or a listing prospectus as defined in article 32 of the Listing Rules of the SIX Swiss Exchange or any other regulated
trading facility in Switzerland. Any resales of the Notes by the Agents thereof may only be undertaken on a private basis to selected
individual investors in compliance with Swiss law. This pricing supplement and the accompanying prospectus supplement and prospectus
may not be copied, reproduced, distributed or passed on to others or otherwise made available in Switzerland without our prior
written consent. By accepting this pricing supplement and the accompanying prospectus supplement and prospectus or by subscribing
to the Notes, investors are deemed to have acknowledged and agreed to abide by these restrictions. Investors are advised to consult
with their financial, legal or tax advisers before investing in the Notes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Hong Kong</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Notes may not be offered or sold by
means of any document other than (i) in circumstances which do not constitute an offer to the public within the meaning of the
Companies Ordinance (Cap. 32, Laws of Hong Kong), or (ii) to &ldquo;professional investors&rdquo; within the meaning of the Securities
and Futures Ordinance (Cap. 571, Laws of Hong Kong) and any rules made thereunder, or (iii) in other circumstances which do not
result in the document being a &ldquo;prospectus&rdquo; within the meaning of the Companies Ordinance (Cap. 32, Laws of Hong Kong),
and no advertisement, invitation or document relating to the Notes may be issued or may be in the possession of any person for
the purpose of issue (in each case whether in Hong Kong or elsewhere), which is directed at, or the contents of which are likely
to be accessed or read by, the public in Hong Kong (except if permitted to do so under the laws of Hong Kong) other than with
respect to Notes which are or are intended to be disposed of only to persons outside Hong Kong or only to &ldquo;professional
investors&rdquo; within the meaning of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong) and any rules made thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The contents of this pricing supplement
and the accompanying prospectus supplement and prospectus have not been reviewed by any regulatory authority in Hong Kong. You
are advised to exercise caution in relation to the offering of the Notes. If you are in any doubt about any of the contents of
this document, you should obtain independent professional advice.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Japan</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Notes have not been and will not be
registered under the Financial Instruments and Exchange Law of Japan (the Law No. 25 of 1948, as amended, the &ldquo;FIEL&rdquo;)
and each Agent has agreed that it will not offer or sell any of the Notes, directly or indirectly, in Japan or to, or for the
benefit of, any resident of Japan (which term as used herein means any person resident in Japan, including any corporation or
other entity organized under the laws of Japan), or to others for re-offering or resale, directly or indirectly, in Japan or to
a resident of Japan, except pursuant to an exemption from the registration requirements of, and otherwise in compliance with,
the FIEL and any other applicable laws, regulations and ministerial guidelines of Japan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Singapore</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This pricing supplement and the accompanying
prospectus supplement and prospectus have not been registered as a prospectus with the Monetary Authority of Singapore. Accordingly,
this pricing supplement and the accompanying prospectus supplement and prospectus and any other document or material in connection
with the offer or sale, or invitation for subscription or purchase, of the Notes may not be circulated or distributed, nor may
the Notes be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly,
to persons in Singapore other than (i) to an institutional investor (as defined in Section 4A of the Securities and Futures Act,
Chapter 289 of</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Singapore (the &ldquo;SFA&rdquo;)) under Section 274 of the
SFA, (ii) to a relevant person (as defined in Section 275(2) of the SFA) pursuant to Section 275(1A) of the SFA, or any person
pursuant to Section 275(1A) of the SFA, and in accordance with the conditions, specified in Section 275 of the SFA or (iii) otherwise
pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA, in each case subject to conditions
set forth in the SFA.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Where the Notes are subscribed or purchased
under Section 275 of the SFA by a relevant person which is a corporation (which is not an accredited investor (as defined in Section
4A of the SFA)) the sole business of which is to hold investments and the entire share capital of which is owned by one or more
individuals, each of whom is an accredited investor, the securities (as defined in Section 239(1) of the SFA) of that corporation
shall not be transferable for six months after that corporation has acquired the Notes under Section 275 of the SFA except: (1)
to an institutional investor under Section 274 of the SFA or to a relevant person (as defined in Section 275(2) of the SFA), (2)
where such transfer arises from an offer in that corporation&rsquo;s securities pursuant to Section 275(1A) of the SFA, (3) where
no consideration is or will be given for the transfer, (4) where the transfer is by operation of law, (5) as specified in Section
276(7) of the SFA, or (6) as specified in Regulation 32 of the Securities and Futures (Offers of Investments) (Shares and Debentures)
Regulations 2005 of Singapore (&ldquo;Regulation 32&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Where the Notes are subscribed or purchased
under Section 275 of the SFA by a relevant person which is a trust (where the trustee is not an accredited investor (as defined
in Section 4A of the SFA)) whose sole purpose is to hold investments and each beneficiary of the trust is an accredited investor,
the beneficiaries&rsquo; rights and interest (howsoever described) in that trust shall not be transferable for six months after
that trust has acquired the Notes under Section 275 of the SFA except: (1) to an institutional investor under Section 274 of the
SFA or to a relevant person (as defined in Section 275(2) of the SFA), (2) where such transfer arises from an offer that is made
on terms that such rights or interest are acquired at consideration of not less than $200,000 (or its equivalent in a foreign
currency) for each transaction (whether such amount is to be paid for in cash or by exchange of securities or other assets), (3)
where no consideration is or will be given for the transfer, (4) where the transfer is by operation of law, (5) as specified in
Section 276(7) of the SFA, or (6) as specified in Regulation 32.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Taiwan</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Notes have not been and will not be
registered with the Financial Supervisory Commission of Taiwan, the Republic of China (&ldquo;Taiwan&rdquo;), pursuant to relevant
securities laws and regulations and may not be offered or sold in Taiwan through a public offering or in any manner which would
constitute an offer within the meaning of the Securities and Exchange Act of Taiwan or would otherwise require registration with
or the approval of the Financial Supervisory Commission of Taiwan. No person or entity in Taiwan has been authorized to offer
or sell the Notes in Taiwan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Legal Matters</U>:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">Sidley Austin LLP, New York, New York has
acted as counsel for Colgate. Mayer Brown LLP, Chicago, Illinois has acted as counsel for the Agents. In the opinion of Sidley
Austin LLP, as counsel to Colgate, when the Notes offered by this pricing supplement have been executed and issued by Colgate
and authenticated by the trustee pursuant to the indenture, and delivered against payment as contemplated herein, such Notes will
be valid and binding obligations of Colgate, enforceable in accordance with their terms, subject to applicable bankruptcy, insolvency
and similar laws affecting creditors&rsquo; rights generally, concepts of reasonableness and equitable principles of general applicability
(including, without limitation, concepts of good faith, fair dealing and the lack of bad faith), provided that such counsel expresses
no opinion as to the effect of fraudulent conveyance, fraudulent transfer or similar provision of applicable law on the conclusions
expressed above. This opinion is given as of the date hereof and is limited to the</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0pt">laws of the State of New York and the General
Corporation Law of the State of Delaware as in effect on the date hereof. In addition, this opinion is subject to customary assumptions
about the genuineness of signatures and certain factual matters, all as stated in the letter of such counsel dated October 24,
2014, which has been filed as Exhibit 5.1 to Colgate&rsquo;s registration statement on Form S-3 filed with the Securities and
Exchange Commission on October 24, 2014.</P>
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