<SEC-DOCUMENT>0001193125-25-188693.txt : 20250826
<SEC-HEADER>0001193125-25-188693.hdr.sgml : 20250826
<ACCEPTANCE-DATETIME>20250826160158
ACCESSION NUMBER:		0001193125-25-188693
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250826
DATE AS OF CHANGE:		20250826

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SEMPRA
		CENTRAL INDEX KEY:			0001032208
		STANDARD INDUSTRIAL CLASSIFICATION:	GAS & OTHER SERVICES COMBINED [4932]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				330732627
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-272237
		FILM NUMBER:		251257512

	BUSINESS ADDRESS:	
		STREET 1:		488 8TH AVENUE
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92101
		BUSINESS PHONE:		6196962000

	MAIL ADDRESS:	
		STREET 1:		488 8TH AVENUE
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92101

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SEMPRA ENERGY
		DATE OF NAME CHANGE:	19980605

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MINERAL ENERGY CO
		DATE OF NAME CHANGE:	19970205

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SEMPRA
		CENTRAL INDEX KEY:			0001032208
		STANDARD INDUSTRIAL CLASSIFICATION:	GAS & OTHER SERVICES COMBINED [4932]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				330732627
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		488 8TH AVENUE
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92101
		BUSINESS PHONE:		6196962000

	MAIL ADDRESS:	
		STREET 1:		488 8TH AVENUE
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92101

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SEMPRA ENERGY
		DATE OF NAME CHANGE:	19980605

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MINERAL ENERGY CO
		DATE OF NAME CHANGE:	19970205
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>d11456dfwp.htm
<DESCRIPTION>FWP
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<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">Filed Pursuant to Rule 433 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Registration Statement <FONT STYLE="white-space:nowrap">No.&nbsp;333-272237</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Sempra </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Final Term Sheet
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">August&nbsp;26, 2025 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6.375% <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Fixed-to-Fixed</FONT></FONT> Reset Rate Junior Subordinated Notes due 2056 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This issuer free writing prospectus relates only to the securities described below and should be read together with Sempra&#8217;s preliminary
prospectus supplement dated August&nbsp;26, 2025 (the &#8220;Preliminary Prospectus Supplement&#8221;), the accompanying prospectus dated May&nbsp;26, 2023 and the documents incorporated and deemed to be incorporated by reference therein. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top">Issuer:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Sempra (the &#8220;Company&#8221;)</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">Anticipated Ratings:<SUP STYLE="font-size:75%; vertical-align:top">1</SUP></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Baa3 (negative) by Moody&#8217;s Investors Service, Inc. <BR><FONT STYLE="white-space:nowrap">BBB-</FONT> (negative) by S&amp;P Global Ratings <BR><FONT STYLE="white-space:nowrap">BBB-</FONT> (stable) by Fitch Ratings,
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">Trade Date:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">August&nbsp;26, 2025</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">Settlement Date:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">August&nbsp;29, 2025 (T+3)</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">Securities Offered:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">6.375% <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Fixed-to-Fixed</FONT></FONT> Reset Rate Junior Subordinated Notes due 2056 (the &#8220;notes&#8221;)</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">Aggregate Principal Amount Offered:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">$800,000,000</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">Interest Rate:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">The notes will bear interest (i)&nbsp;from and including August&nbsp;29, 2025 to, but excluding, April&nbsp;1, 2031 (the &#8220;First Reset Date&#8221;) at the rate of 6.375% per annum and (ii)&nbsp;from and including the First
Reset Date, during each Reset Period (as defined in the Preliminary Prospectus Supplement) at a rate per annum equal to the Five-year U.S. Treasury Rate (as defined in the Preliminary Prospectus Supplement) as of the most recent Reset Interest
Determination Date (as defined in the Preliminary Prospectus Supplement) plus a spread of 2.632%, to be reset on each Reset Date (as defined in the Preliminary Prospectus Supplement); provided that the interest rate during any Reset Period will not
reset below 6.375% per annum (which is the same interest rate as in effect from and including the original issue date to, but excluding, the First Reset Date).</TD></TR>
</TABLE> <DIV STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%">&nbsp;</DIV>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:75%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Note: A securities rating is not a recommendation to buy, sell or hold securities and is subject to revision or
withdrawal at any time. </P></TD></TR></TABLE>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">For additional information and the definitions of the terms Reset Period, Five-year U.S. Treasury Rate, Reset Interest Determination Date and Reset Date, see &#8220;Description of the Notes&#8212;Interest Rate and Maturity&#8221; in
the Preliminary Prospectus Supplement.</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">Interest Payment Dates:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">April&nbsp;1<B> </B>and<B> </B>October&nbsp;1 of each year, beginning on April&nbsp;1, 2026 (each, an &#8220;interest payment date&#8221;) (subject to the Company&#8217;s right to defer interest payments as described under
&#8220;Optional Interest Deferral&#8221; below).</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">Optional Interest Deferral:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">So long as no event of default (as defined in the Preliminary Prospectus Supplement) with respect to the notes has occurred and is continuing, the Company may, at its option, defer interest payments on the notes, from time to time,
for one or more Optional Deferral Periods (as defined in the Preliminary Prospectus Supplement) of up to 20 consecutive semi-annual Interest Payment Periods (as defined in the Preliminary Prospectus Supplement) each, except that no such Optional
Deferral Period may extend beyond the final maturity date of the notes or end on a day other than the day immediately preceding an interest payment date. No interest will be due or payable on the notes during an Optional Deferral Period, except upon
a redemption of the notes on any redemption date during such Optional Deferral Period (in which case all accrued and unpaid interest (including, to the extent permitted by applicable law, any compound interest) on the notes to be redeemed to, but
excluding, the redemption date will be due and payable on such redemption date), or unless the principal of and interest on the notes shall have been declared due and payable as the result of an event of default with respect to the notes (in which
case all accrued and unpaid interest, including, to the extent permitted by applicable law, any compound interest, on the notes shall become due and payable). The Company may elect, at its option, to extend such Optional Deferral Period, so long as
the entire Optional Deferral Period does not exceed 20 consecutive Interest Payment Periods or extend beyond the final maturity date of the notes. The Company may also elect, at its option, to shorten the length of any Optional Deferral Period. The
Company cannot begin a new Optional Deferral Period until the Company has paid all accrued and unpaid interest on the notes from any previous Optional Deferral Period. During any Optional Deferral Period, interest on the notes
will</TD></TR></TABLE>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">continue to accrue at the then-applicable interest rate on the notes (as reset from time to time on any Reset Date occurring during such
Optional Deferral Period in accordance with the terms of the notes). In addition, during any Optional Deferral Period, interest on the deferred interest will accrue at the then-applicable interest rate on the notes (as reset from time to time on any
Reset Date occurring during such Optional Deferral Period in accordance with the terms of the notes), compounded semi-annually, to the extent permitted by applicable law.</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">For additional information and the definitions of the terms event of default, Optional Deferral Period and Interest Payment Period, see &#8220;Description of
the Notes&#8212;Events of Default&#8221; and &#8220;Description of the Notes&#8212;Option to Defer Interest Payments&#8221; in the Preliminary Prospectus Supplement.</P></TD></TR>
<TR STYLE="font-size:1pt">
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Maturity:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">April&nbsp;1, 2056</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">Price to Public:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">100.000% of the principal amount, plus accrued interest, if any.</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">Proceeds to the Company:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Approximately $792.0&nbsp;million, after deducting the underwriting discount but before deducting the estimated offering expenses payable by the Company.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">Optional Redemption Provisions:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company may redeem some or all of the notes, at its option, in whole or in part (i)&nbsp;on any day in the period commencing on the date
falling 90 days prior to the First Reset Date and ending on and including the First Reset Date and (ii)&nbsp;after the First Reset Date, on any interest payment date, at a redemption price in cash equal to 100% of the principal amount of the notes
being redeemed, plus, subject to the terms described in the first paragraph under &#8220;Description of the Notes&#8212;Redemption&#8212;Redemption Procedures; Cancellation of Redemption&#8221; in the Preliminary Prospectus Supplement, accrued and
unpaid interest on the notes to be redeemed to, but excluding, the redemption date.</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">The Company may at its option redeem the notes, in whole but not in part, at any time following the occurrence and during the continuance of a Tax Event (as
defined in the Preliminary Prospectus Supplement) at a redemption price in cash equal to 100% of the principal amount of the notes, plus, subject to the terms described in the first paragraph under &#8220;Description of the
Notes&#8212;Redemption&#8212;Redemption Procedures; Cancellation of Redemption&#8221; in the Preliminary Prospectus Supplement, accrued and unpaid interest on the notes to, but excluding, the redemption
date.</P></TD></TR></TABLE>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company may at its option redeem the notes, in whole but not in part, at any time following the occurrence and during the continuance of
a Rating Agency Event (as defined in the Preliminary Prospectus Supplement) at a redemption price in cash equal to 102% of the principal amount of the notes, plus, subject to the terms described in the first paragraph under &#8220;Description of the
Notes&#8212;Redemption&#8212;Redemption Procedures; Cancellation of Redemption&#8221; in the Preliminary Prospectus Supplement, accrued and unpaid interest on the notes to, but excluding, the redemption date.</P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">For additional information and the definitions of the terms Tax Event and Rating Agency
Event, see &#8220;Description of the Notes&#8212;Redemption&#8221; in the Preliminary Prospectus Supplement.</P></TD></TR>
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<TD VALIGN="top">CUSIP:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">816851 BW8</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">ISIN:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">US816851BW83</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">Joint Book-Running Managers:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Barclays Capital Inc.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Citigroup Global Markets
Inc.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Credit Agricole Securities (USA) Inc.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">MUFG Securities
Americas Inc.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Santander US Capital Markets LLC <BR>BBVA Securities Inc.</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">BMO Capital Markets Corp.</P></TD></TR>
</TABLE> <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) with the SEC for the offering to which this
communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these
documents for free by visiting EDGAR on the SEC website at </B><B><I>www.sec.gov</I></B><B>. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling
Barclays Capital Inc. toll-free at (888) <FONT STYLE="white-space:nowrap">603-5847,</FONT> by calling Citigroup Global Markets Inc. toll-free at (800) <FONT STYLE="white-space:nowrap">831-9146,</FONT> Credit Agricole Securities (USA) Inc. toll-free
at (866) <FONT STYLE="white-space:nowrap">807-6030,</FONT> by calling MUFG Securities Americas Inc. toll-free at (877) <FONT STYLE="white-space:nowrap">649-6848</FONT> or by calling Santander US Capital Markets LLC toll-free at (855) <FONT
STYLE="white-space:nowrap">403-3636.</FONT> </B></P>
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and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of this communication having been sent via Bloomberg or another system. </B></P>
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