<SEC-DOCUMENT>0001193125-18-298072.txt : 20181012
<SEC-HEADER>0001193125-18-298072.hdr.sgml : 20181012
<ACCEPTANCE-DATETIME>20181012083535
ACCESSION NUMBER:		0001193125-18-298072
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20181012
DATE AS OF CHANGE:		20181012

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AFLAC INC
		CENTRAL INDEX KEY:			0000004977
		STANDARD INDUSTRIAL CLASSIFICATION:	ACCIDENT & HEALTH INSURANCE [6321]
		IRS NUMBER:				581167100
		STATE OF INCORPORATION:			GA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-227244
		FILM NUMBER:		181119323

	BUSINESS ADDRESS:	
		STREET 1:		1932 WYNNTON RD
		CITY:			COLUMBUS
		STATE:			GA
		ZIP:			31999
		BUSINESS PHONE:		7063233431

	MAIL ADDRESS:	
		STREET 1:		1932 WYNNTON ROAD
		CITY:			COLUMBUS
		STATE:			GA
		ZIP:			31999

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN FAMILY CORP
		DATE OF NAME CHANGE:	19920306

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AFLAC INC
		CENTRAL INDEX KEY:			0000004977
		STANDARD INDUSTRIAL CLASSIFICATION:	ACCIDENT & HEALTH INSURANCE [6321]
		IRS NUMBER:				581167100
		STATE OF INCORPORATION:			GA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		1932 WYNNTON RD
		CITY:			COLUMBUS
		STATE:			GA
		ZIP:			31999
		BUSINESS PHONE:		7063233431

	MAIL ADDRESS:	
		STREET 1:		1932 WYNNTON ROAD
		CITY:			COLUMBUS
		STATE:			GA
		ZIP:			31999

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN FAMILY CORP
		DATE OF NAME CHANGE:	19920306
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>d634284dfwp.htm
<DESCRIPTION>FWP
<TEXT>
<HTML><HEAD>
<TITLE>FWP</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">ISSUER FREE WRITING PROSPECTUS </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">(RELATING TO THE PRELIMINARY PROSPECTUS </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">SUPPLEMENT DATED OCTOBER&nbsp;5, 2018 AND </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">THE PROSPECTUS DATED SEPTEMBER&nbsp;7, 2018) </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">REGISTRATION NO. <FONT STYLE="white-space:nowrap">333-227244</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">OCTOBER&nbsp;12, 2018 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g634284g1011215925641.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AFLAC INCORPORATED </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>&yen;29,300,000,000 1.159% SENIOR NOTES DUE 2030 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>&yen;15,200,000,000 1.488% SENIOR NOTES DUE 2033 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>&yen;8,900,000,000 1.750% SENIOR NOTES DUE 2038 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FINAL TERM SHEET </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Dated
October&nbsp;12, 2018 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="26%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="71%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Issuer:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Aflac Incorporated</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Securities:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1.159% Senior Notes due 2030 (the &#147;2030 Notes&#148;)</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1.488% Senior Notes due 2033 (the &#147;2033 Notes&#148;)</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">1.750%
Senior Notes due 2038 (the &#147;2038 Notes&#148;)</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Ratings (Moody&#146;s / S&amp;P / R&amp;I)*:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">A3 (stable) / <FONT STYLE="white-space:nowrap">A-</FONT> (stable) / A (stable)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Security Type:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Senior Unsecured Fixed Rate Notes</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Trade Date:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">October&nbsp;12, 2018</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Settlement Date (T+4)**:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">October&nbsp;18,<B> </B>2018</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Denominations:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&yen;100,000,000 and integral multiples of &yen;10,000,000 in excess thereof</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Joint Book-Running Managers:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Mizuho Securities USA LLC; Morgan Stanley&nbsp;&amp; Co. International plc; SMBC Nikko Securities America, Inc.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B><FONT STYLE="white-space:nowrap">Passive&nbsp;Book-Running&nbsp;Managers:</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Goldman Sachs&nbsp;&amp; Co. LLC; Wells Fargo Securities, LLC</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B><FONT STYLE="white-space:nowrap">Co-Managers:</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Merrill Lynch International; J.P. Morgan Securities plc; Academy Securities, Inc.; Drexel Hamilton, LLC</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Principal Amount:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&yen;29,300,000,000 (2030 Notes)</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&yen;15,200,000,000 (2033 Notes)</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&yen;8,900,000,000 (2038
Notes)</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Underwriting Discount:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">0.500% (2030 Notes)</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">0.600% (2033 Notes)</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">0.700% (2038 Notes)</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Maturity Date:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">October 18, 2030 (2030 Notes)</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">October 18, 2033
(2033 Notes)</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">October 18, 2038 (2038 Notes)</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Coupon:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1.159% (2030 Notes)</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1.488% (2033 Notes)</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">1.750% (2038 Notes)</P></TD></TR></TABLE>
</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="26%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="71%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Reference Rate:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">0.499% (equivalent to <FONT STYLE="white-space:nowrap">12-year</FONT> Swap Offered Rate on Bloomberg &#147;GDCO 157&#148; rounded up to three
decimal places) (2030 Notes)</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">0.628% (equivalent to <FONT STYLE="white-space:nowrap">15-year</FONT> Swap Offered Rate on Bloomberg &#147;GDCO 157&#148;
rounded up to three decimal places) (2033 Notes)</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Spread to Reference Rate:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">+ 66 bps (2030 Notes)</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">+ 86 bps (2033
Notes)</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Yield to Maturity:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1.159% (2030 Notes)</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1.488% (2033 Notes)</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">1.750% (2038 Notes)</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Public Offering Price:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">100.0% of principal amount (2030 Notes, 2033 Notes, 2038 Notes)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Proceeds, Before Expenses:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&yen;53,100,000,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Interest Payment Dates:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Semi-annually in arrears on April&nbsp;18 and October&nbsp;18, commencing on April&nbsp;18, 2019 for the 2030 Notes</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Semi-annually in arrears on April&nbsp;18 and October&nbsp;18, commencing on April&nbsp;18, 2019 for the 2033 Notes</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Semi-annually in arrears on April&nbsp;18 and October&nbsp;18, commencing on April&nbsp;18, 2019 for the 2038 Notes</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Record Dates:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">April&nbsp;4 and October&nbsp;4 of each year</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Day Count:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">30/360</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Business Day Centers:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">New York, London, Tokyo</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Governing Law:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">New York</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>CUSIP/ISIN/Common&nbsp;Code:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">001055 AV4 / XS1892836104 / 189283610 (2030 Notes)</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">001055 AW2 / XS1892836955 / 189283695 (2033 Notes)</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">001055 AX0 /
XS1892837250 / 189283725 (2038 Notes)</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>*</B>Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or
withdrawal at any time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">**We expect that delivery of the notes will be made to investors on or about October&nbsp;18, 2018, which is the fourth Tokyo
business day following the date of this final term sheet (such settlement being referred to as &#147;T+4&#148;). Under the E.U. Central Securities Depositories Regulation, trades in the secondary market are required to settle in two London business
days, unless the parties to any such trade expressly agree otherwise. Also, under Rule <FONT STYLE="white-space:nowrap">15c6-1</FONT> under the Securities Exchange Act of 1934, as amended, trades in the secondary market are required to settle in two
New York business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade notes earlier than the second London business day, or the second New York business day, before October&nbsp;18, 2018
will be required, by virtue of the fact that the notes initially will settle T+4, to specify an alternative settlement cycle at the time of any such trade to prevent failed settlement, and so should consult their own advisors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>The issuer has filed a registration statement (including a prospectus and related prospectus supplement) with the U.S. Securities and Exchange Commission
(SEC) for this offering. Before you invest, you should read the prospectus supplement and prospectus for this offering 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 EDGAR at the SEC web site at </B><B><I>www.sec.gov</I></B><B>. Alternatively, you may obtain a copy of the prospectus by calling Mizuho Securities USA LLC toll-free at <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-866-271-7403,</FONT></FONT></FONT> Morgan Stanley&nbsp;&amp; Co. International plc toll-free at <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-866-718-1649</FONT></FONT></FONT> or SMBC Nikko Securities America, Inc. toll-free at
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-888-868-6856</FONT></FONT></FONT> or by email at <FONT STYLE="white-space:nowrap">prospectus@smbcnikko-si.com.</FONT> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>MiFID II professionals/ECPs-only&#150; Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only
(all distribution channels). </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-&nbsp;2&nbsp;- </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-&nbsp;3&nbsp;- </P>

</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g634284g1011215925641.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g634284g1011215925641.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !D .,# 2(  A$! Q$!_\0
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:*** "BBB@ HHHH **** "BBB@ HHHH __]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
