<SEC-DOCUMENT>0001552781-25-000386.txt : 20251103
<SEC-HEADER>0001552781-25-000386.hdr.sgml : 20251103
<ACCEPTANCE-DATETIME>20251103171727
ACCESSION NUMBER:		0001552781-25-000386
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20251103
DATE AS OF CHANGE:		20251103

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EBAY INC
		CENTRAL INDEX KEY:			0001065088
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				770430924
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-270013
		FILM NUMBER:		251445229

	BUSINESS ADDRESS:	
		STREET 1:		2025 HAMILTON AVENUE
		CITY:			SAN JOSE
		STATE:			CA
		ZIP:			95125
		BUSINESS PHONE:		408-376-7400

	MAIL ADDRESS:	
		STREET 1:		2025 HAMILTON AVENUE
		CITY:			SAN JOSE
		STATE:			CA
		ZIP:			95125

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EBAY INC
		CENTRAL INDEX KEY:			0001065088
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				770430924
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		2025 HAMILTON AVENUE
		CITY:			SAN JOSE
		STATE:			CA
		ZIP:			95125
		BUSINESS PHONE:		408-376-7400

	MAIL ADDRESS:	
		STREET 1:		2025 HAMILTON AVENUE
		CITY:			SAN JOSE
		STATE:			CA
		ZIP:			95125
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: right"><B>Filed Pursuant to Rule 433<BR>
Registration Statement No. 333-270013<FONT STYLE="letter-spacing: -0.1pt"><BR>
</FONT>Pricing Term <FONT STYLE="letter-spacing: -0.1pt">Sheet<BR>
</FONT>November 3, 2025</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">eBay <FONT STYLE="letter-spacing: -0.2pt">Inc.<BR>
<BR>
</FONT>$600,000,000 4.250% Notes due <FONT STYLE="letter-spacing: -0.2pt">20</FONT>29<BR>
$400,000,000 5.125% Notes due <FONT STYLE="letter-spacing: -0.2pt">20</FONT>35</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">Pricing Term <FONT STYLE="letter-spacing: -0.1pt">Sheet</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><B>This pricing term sheet supplements, and should be read in conjunction
with, eBay Inc.&rsquo;s preliminary prospectus supplement dated November 3, 2025 (the &ldquo;Preliminary Prospectus Supplement&rdquo;)
and accompanying prospectus dated February 24, 2023 and the documents incorporated and deemed to be incorporated by reference therein.</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 35%; padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">Issuer:</TD>
    <TD STYLE="width: 65%; padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">eBay Inc. (the &ldquo;Company&rdquo;)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">Securities:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">4.250% Notes due 2029 (the &ldquo;2029 Notes&rdquo;)<BR>
    5.125% Notes due 2035 (the &ldquo;2035 Notes&rdquo;)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">The <FONT STYLE="letter-spacing: -0.25pt">20</FONT>29 Notes and
    the 2035 Notes (collectively, the &ldquo;Notes&rdquo;) will each constitute a separate &ldquo;series&rdquo; of the Company&rsquo;s debt
    securities under the indenture governing the Notes.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">Security Type:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">Senior unsecured notes</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">Principal Amount:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">2029 Notes: $600,000,000<BR>
2035 Notes: $400,000,000</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">Expected Ratings*:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt"><FONT STYLE="letter-spacing: -0.2pt">Baa1 (stable) (Moody&rsquo;s Investors Service, Inc.)<BR>
BBB+ (stable) (S&amp;P Global Ratings)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">Trade Date:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">November 3, <FONT STYLE="letter-spacing: -0.2pt">2025 </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">Settlement Date**:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">November 6, 2025 (T+3)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">Maturity Date:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">2029 Notes: March 6, 2029<BR>
2035 Notes: November 6, 2035</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">Interest Payment Dates:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">2029 Notes: <FONT STYLE="letter-spacing: -0.15pt">March 6</FONT>
    and <FONT STYLE="letter-spacing: -0.2pt">September 6</FONT> of each year, commencing on <FONT STYLE="letter-spacing: -0.15pt">March 6</FONT>,
    <FONT STYLE="letter-spacing: -0.2pt">2026</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">2035 Notes: <FONT STYLE="letter-spacing: -0.15pt">May 6</FONT> and
    <FONT STYLE="letter-spacing: -0.2pt">November 6</FONT> of each year, commencing on <FONT STYLE="letter-spacing: -0.15pt">May 6</FONT>,
    <FONT STYLE="letter-spacing: -0.2pt">2026</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">Record Dates:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">2029 Notes: February 19 and August 22 of each year<FONT STYLE="letter-spacing: -0.2pt"><BR>
</FONT>2035 Notes: April 21 and October 22 of each year</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">Coupon (Interest Rate):</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">2029 Notes: 4.250% per year, accruing from November 6, <FONT STYLE="letter-spacing: -0.2pt">2025<BR>
</FONT>2035 Notes: 5.125% per year, accruing from November 6, <FONT STYLE="letter-spacing: -0.2pt">2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">Benchmark Treasury:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">2029 Notes: 3.500% due October 15, 2028<BR>
2035 Notes: 4.250% due August 15, <FONT STYLE="letter-spacing: -0.2pt">20</FONT>35</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt"></TD></TR></TABLE>

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    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt; width: 35%">Benchmark Treasury Price and Yield:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt; width: 65%">2029 Notes: 99-22&frac14;; 3.609%<BR>
2035 Notes: 101-05; 4.105%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">Spread to Benchmark Treasury:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">2029 Notes: 65 basis points<BR>
2035 Notes: 103 basis points</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">Yield to Maturity:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">2029 Notes: 4.259%<BR>
2035 Notes: 5.135%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">Price to Public:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">2029 Notes: 99.977% of Principal Amount, plus accrued interest, if <FONT STYLE="letter-spacing: -0.25pt">any<BR>
</FONT>2035 Notes: 99.923% of Principal Amount, plus accrued interest, if <FONT STYLE="letter-spacing: -0.25pt">any</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">Optional Redemption:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">Prior to February 6, 2029 (one month prior to their maturity
    date) with respect to the 2029 Notes (the &ldquo;2029 Notes Par Call Date&rdquo;) and August 6, 2035 (three months prior to their maturity
    date) with respect to the 2035 Notes (the &ldquo;2035 Notes Par Call Date&rdquo; and each of the 2029 Notes Par Call Date and the 2035
    Notes Par Call Date individually, a &ldquo;Par Call Date&rdquo;), the Company may redeem the Notes of the applicable series at its option,
    in whole or in part, at any time and from time to time, at a redemption price (expressed as a percentage of principal amount and rounded
    to three decimal places) equal to the greater of:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in; text-indent: -0.25in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
    </FONT>(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption
    date (assuming the Notes of the applicable series matured on the applicable Par Call Date) on a semi-annual basis (assuming a 360-day
    year consisting of twelve 30-day months) at the Treasury Rate plus 10 basis points, in the case of the 2029 Notes, and 20 basis points,
    in the case of the 2035 Notes, less (b) interest accrued to the date of redemption, and</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in; text-indent: -0.25in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
    </FONT>100% of the principal amount of the Notes of the applicable series to be redeemed,</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">plus, in either case, accrued and unpaid interest thereon to the
    redemption date.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">On or after the applicable Par Call Date, the Company may redeem
    the Notes of the applicable series, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the
    principal amount of the Notes of the applicable series being redeemed plus accrued and unpaid interest thereon to the redemption date.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">For additional information, including the definition of &ldquo;Treasury
    Rate&rdquo; and other relevant terms, see &ldquo;Description of Notes<FONT STYLE="letter-spacing: -0.25pt">&mdash;</FONT>Optional Redemption&rdquo;
    in the Preliminary Prospectus Supplement.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">Change of Control Triggering Event:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">If a Change of Control Triggering Event (as defined in the Preliminary Prospectus Supplement) occurs with respect to the Notes of any series, the Company will be required, subject to certain exceptions, to offer to repurchase the Notes of such series at a price equal to 101% of the principal amount plus accrued and unpaid interest, if any, to the applicable Change of Control Payment Date (as defined in the Preliminary Prospectus Supplement). The provisions of the Notes of each series that may require us to offer to purchase the Notes of such series upon the occurrence of a Change of Control Triggering Event with respect to the Notes of such series, and what constitutes a Change of Control Triggering Event with respect to the Notes of any series, are subject to important exceptions and limitations and you should carefully review the information appearing under the captions &ldquo;Risk Factors&rdquo; and &ldquo;Description of Notes&mdash;Change of Control Triggering Event&rdquo; in the Preliminary Prospectus Supplement for additional information and for the definitions of &ldquo;Change of Control Triggering Event,&rdquo; &ldquo;Change of Control Payment Date&rdquo; and other relevant terms.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt"></TD></TR></TABLE>

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    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt; width: 35%">CUSIP / ISIN:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 65%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">2029 Notes: <FONT STYLE="letter-spacing: -0.2pt">278642 BD4 / US278642BD42</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">2035 Notes: 278642 BE2 / US278642BE25</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.2pt">&nbsp;</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">Joint Book-Running Managers:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Citigroup Global Markets Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">Deutsche Bank Securities Inc.<BR>
    Goldman Sachs &amp; Co. LLC</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">Co-Managers:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">BNP Paribas Securities Corp.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">BofA Securities, Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">HSBC Securities (USA) Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Independence Point Securities LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">J.P. Morgan Securities LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Mischler Financial Group, Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Morgan Stanley &amp; Co. LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Penserra Securities LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">RBC Capital Markets, LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Standard Chartered Bank</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Siebert Williams Shank &amp; Co., LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Wells Fargo Securities, LLC</P></TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><B>*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The credit ratings
above are not a recommendation to buy, sell or hold the securities. The ratings may be subject to revision or withdrawal at any time.
Each of the ratings above should be evaluated independently of any other securities rating.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><B>** It is expected that delivery of the Notes will be made on
or about November 6, 2025, which will be the third business day following the date of the Preliminary Prospectus Supplement (such settlement
being referred to as &ldquo;T+3&rdquo;). Under Rule 15c6-1 under the Securities Exchange Act of 1934, as amended, trades in the secondary
market generally are required to settle in one business day, unless the parties to any such trade expressly agree otherwise. Accordingly,
purchasers who wish to trade the Notes more than one business day prior to their scheduled date of delivery will be required, by virtue
of the fact that the Notes initially settle in T+3, to specify an alternate settlement cycle at the time of any such trade to prevent
failed settlement and should consult their own advisors.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><B>The issuer has filed a registration statement (including a prospectus)
and preliminary prospectus supplement with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) for the offering to which this
communication relates. Before you invest, you should read the prospectus in that registration statement, the preliminary prospectus supplement
and other documents the issuer has filed with the SEC that are incorporated by reference or deemed to be incorporated by reference in
such prospectus and preliminary prospectus supplement 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 www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating
in the offering will arrange to send you the preliminary prospectus supplement and the prospectus if you request it by calling Citigroup
Global Markets Inc. at 1-800-831-9146, Deutsche Bank Securities Inc. at 1-800-503-4611 or Goldman Sachs &amp; Co. LLC at 1-866-471-2526.</B></P>

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

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

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