<SEC-DOCUMENT>0000891092-17-008069.txt : 20171106
<SEC-HEADER>0000891092-17-008069.hdr.sgml : 20171106
<ACCEPTANCE-DATETIME>20171106163445
ACCESSION NUMBER:		0000891092-17-008069
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20171102
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20171106
DATE AS OF CHANGE:		20171106

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PUBLIC SERVICE ENTERPRISE GROUP INC
		CENTRAL INDEX KEY:			0000788784
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC & OTHER SERVICES COMBINED [4931]
		IRS NUMBER:				222625848
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09120
		FILM NUMBER:		171179833

	BUSINESS ADDRESS:	
		STREET 1:		CORPORATE ACCOUNTING SERVICES
		STREET 2:		80 PARK PLAZA, 9TH FLOOR
		CITY:			NEWARK
		STATE:			NJ
		ZIP:			07102-4194
		BUSINESS PHONE:		973-430-7000

	MAIL ADDRESS:	
		STREET 1:		CORPORATE ACCOUNTING SERVICES
		STREET 2:		80 PARK PLAZA, 9TH FLOOR
		CITY:			NEWARK
		STATE:			NJ
		ZIP:			07102-4194
</SEC-HEADER>
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<TYPE>8-K
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<FILENAME>e76401_8k.htm
<DESCRIPTION>FORM 8-K
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Washington, D.C. 20549</B></FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; text-align: center">&nbsp;</TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>FORM 8-K</B></FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; text-align: center">&nbsp;</TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>CURRENT REPORT</B></FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B></FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">Date of Report (Date of earliest event reported): November 2, 2017</FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED</B></FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">(Exact name of registrant as specified in its charter)</FONT></TD></TR>
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    <TD STYLE="width: 34%; border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">&#9;<B><U>New Jersey</U></B></FONT><BR>
<FONT STYLE="font-size: 11pt">(State or other jurisdiction of incorporation)</FONT></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; font: 11pt Times New Roman, Times, Serif; text-decoration: underline; text-align: center"><FONT STYLE="font-size: 11pt"><B><U>001-09120</U></B></FONT><BR>
<FONT STYLE="font-size: 11pt">(Commission File Number)</FONT></TD>
    <TD STYLE="width: 33%; border-right: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-decoration: underline; text-align: center"><FONT STYLE="font-size: 11pt"><B><U>22-2625848</U></B></FONT><BR>
<FONT STYLE="font-size: 11pt">(I.R.S. Employer Identification No.)</FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>80 Park Plaza</B></FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; text-decoration: underline; text-align: center"><FONT STYLE="font-size: 11pt"><B><U>Newark, New Jersey 07102</U></B></FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">(Address of principal executive offices) (Zip Code)</FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center"><FONT STYLE="font-size: 11pt"><B><U>973-430-7000</U></B></FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">(Registrant's telephone number, including area code)</FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center"><FONT STYLE="font-size: 11pt; color: blue"><B><U>http://www.pseg.com</U></B></FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 0.25in; padding-left: 0.25in"><FONT STYLE="font-size: 11pt">[&nbsp;&nbsp;] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 0.25in; padding-left: 0.25in"><FONT STYLE="font-size: 11pt">[&nbsp;&nbsp;] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 0.25in; padding-left: 0.25in"><FONT STYLE="font-size: 11pt">[&nbsp;&nbsp;] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="border-left: black 4.5pt double; font: 11pt Times New Roman, Times, Serif; border-right: black 4.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
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    <TD COLSPAN="3" STYLE="border-right: black 4.5pt double; border-bottom: black 4.5pt double; border-left: black 4.5pt double; padding-right: 0.25in; padding-left: 0.25in; padding-bottom: 12pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">[&nbsp;&nbsp;] Pre-commencement communications pursuant to Rule
        13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant is an emerging growth
        company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
        Act of 1934 (&sect;240.12b-2 of this chapter).</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Emerging growth company &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;[&nbsp; ]</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">If an emerging growth company, indicate by check mark if the registrant
        has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided
        pursuant to Section 13(a) of the Exchange Act. [&nbsp; ]</P></TD></TR>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B><U>Item 8.01. Other Events </U></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 11pt">On November 6,
2017, Public Service Enterprise Group Incorporated (&#8220;PSEG&#8221;) completed a public offering of $700.0 million aggregate
principal amount of its 2.650% Senior Notes due 2022 (the &#8220;Notes&#8221;). The Notes were offered and sold by PSEG pursuant
to a registration statement on Form S-3 (File No. 333-200352) (the &#8220;Registration Statement&#8221;) and the related Prospectus
dated November 18, 2014 and Prospectus Supplement dated November 2, 2017. The Notes were issued pursuant to an underwriting agreement
(the &#8220;Underwriting Agreement&#8221;), dated November 2, 2017, between PSEG and </FONT>Barclays Capital Inc., J.P. Morgan
Securities LLC and Morgan Stanley &amp; Co. LLC<FONT STYLE="font-size: 11pt">, as representatives of the several underwriters named
therein (the &#8220;Underwriters&#8221;). Pursuant to the Underwriting Agreement and subject to the terms and conditions expressed
therein, PSEG agreed to sell the Notes to the Underwriters, and the Underwriters agreed to purchase the Notes for resale to the
public. The Underwriting Agreement is filed as Exhibit 1 hereto. The Notes are governed by an indenture, dated as of November 1,
1998 (the &#8220;Indenture&#8221;), between PSEG and U.S. Bank National Association, as successor trustee. The Indenture and the
form of Note are filed as Exhibits 4-1 and 4-2 hereto, respectively. The Underwriting Agreement, Indenture and the form of Note
are incorporated by reference into the Registration Statement.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In connection with the offering of the Notes,
PSEG is filing herewith as Exhibit 5 an opinion of Shawn P. Leyden, Vice President and Deputy General Counsel of PSEG Services
Corporation, addressing the legality of the Notes. Such opinion is incorporated by reference into the Registration Statement. <B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B><U>Item 9.01. Financial Statements and Exhibits </U></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Exhibit 1</FONT></TD>
    <TD STYLE="width: 80%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt"><A HREF="e76401ex1.htm">Underwriting Agreement, dated November 2, 2017, between PSEG and Barclays Capital Inc., J.P. Morgan Securities LLC and Morgan Stanley &amp; Co. LLC, as representatives of the several underwriters named therein.</A></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Exhibit 4-1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt"><A HREF="http://www.sec.gov/Archives/edgar/data/81033/0000950110-99-000213.txt">Indenture dated as of November 1, 1998 between PSEG and U.S. Bank National Association (as successor to First Union National Bank), as Trustee (incorporated by reference to Exhibit 4(f) to the Annual Report on Form 10-K for the year ended December 31, 1998, File No. 001-09120).</A></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Exhibit 4-2</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt"><A HREF="e76401ex4-2.htm">Form of Note.</A></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Exhibit 5</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt"><A HREF="e76401ex5.htm">Opinion of Shawn P. Leyden, Vice President and Deputy General Counsel of PSEG Services Corporation, addressing the legality of the Notes.</A></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Exhibit 23</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt"><A HREF="e76401ex5.htm">Consent of Shawn P. Leyden, Vice President and Deputy General Counsel of PSEG Services Corporation (included in Exhibit 5).</A></FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 30.6pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 30.6pt 0 0; text-indent: 0.5in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 20pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="3" STYLE="padding-bottom: 20pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PUBLIC SERVICE ENTERPRISE GROUP<BR>
        INCORPORATED</B></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Registrant)</P></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: center"><FONT STYLE="font-size: 11pt">By:</FONT></TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 11pt">/s/ Stuart J. Black</FONT></TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Stuart J. Black</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Vice President and Controller</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Principal Accounting Officer)</P></TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 30.6pt 0 0">Date: November 6, 2017</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TYPE>EX-1
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<FILENAME>e76401ex1.htm
<DESCRIPTION>UNDERWRITING AGREEMENT
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B>Exhibit 1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B><I>EXECUTION VERSION</I></B></P>

<P STYLE="margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 12pt">PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED<BR>
(a New Jersey corporation)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">$700,000,000 2.650% Senior Notes due
2022</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">UNDERWRITING AGREEMENT</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">November 2, 2017</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">BARCLAYS CAPITAL INC.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">J.P. MORGAN SECURITIES LLC</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">MORGAN STANLEY &amp; CO. LLC</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; padding: 0; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">c/o </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0 0 0 4pt"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Barclays Capital Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0 0 0 4pt"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">745 Seventh Avenue</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0 0 0 4pt"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">New York, New York 10019</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">As Representatives of the several Underwriters</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Public Service Enterprise Group Incorporated,
a New Jersey corporation (the &#8220;<B>Company</B>&#8221;), proposes to issue and sell to the several underwriters named in <U>Schedule
1</U> hereto (the &#8220;<B>Underwriters,</B>&#8221; which term shall include any underwriter substituted as hereinafter provided
in Section 10), acting severally and not jointly, the respective principal amounts set forth in such <U>Schedule 1</U> of $700,000,000
aggregate principal amount of the Company&#8217;s 2.650% Senior Notes due 2022 (the &#8220;<B>Securities</B>&#8221;). Barclays
Capital Inc., J.P. Morgan Securities LLC and Morgan Stanley &amp; Co. LLC have agreed to act as representatives of the several
Underwriters (in such capacity, the &#8220;<B>Representatives</B>&#8221;) in connection with the offering and sale of the Securities.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Securities will be issued pursuant
to the provisions of an Indenture dated as of November 1, 1998, as amended and supplemented by the First Supplemental Indenture,
dated as of September 10, 2002, and the Second Supplemental Indenture, dated as of July 27, 2005 (collectively, the <B>&#8220;Indenture&#8221;</B>),
between the Company and U.S. Bank National Association (as successor trustee to First Union National Bank), as trustee (the <B>&#8220;Trustee&#8221;</B>).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Company has filed with the Securities
and Exchange Commission (the &#8220;<B>Commission</B>&#8221;) a registration statement on Form S-3 (No. 333-200352), which contains
a base prospectus (the &#8220;<B>Base Prospectus</B>&#8221;), to be used in connection with the public offering and sale of certain
securities by the Company, including the Securities, under the Securities Act of 1933, as amended (the &#8220;<B>1933 Act</B>&#8221;),
and the offering thereof from time to time in accordance with Rule 415 of the rules and regulations of the Commission under the
1933 Act (the &#8220;<B>1933 Act Regulations</B>&#8221;). Such registration statement, including the financial statements, exhibits
and schedules thereto, in the form in which it became effective under the 1933 Act, including any required information deemed to
be a part thereof at the time of effectiveness pursuant to</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">Rule&nbsp;430B of the 1933 Act Regulations (&#8220;<B>Rule
430B</B>&#8221;), is called the &#8220;<B>Registration Statement</B>.&#8221; The term &#8220;<B>Prospectus</B>&#8221; shall mean
the final prospectus supplement relating to the Securities, together with the Base Prospectus, that is first filed pursuant to
Rule&nbsp;424(b) of the 1933 Act Regulations (&#8220;<B>Rule 424(b)</B>&#8221;) after the date and time that this Agreement is
executed (the &#8220;<B>Execution Time</B>&#8221;) by the parties hereto. The term &#8220;<B>preliminary prospectus</B>&#8221;
shall mean any preliminary prospectus supplement relating to the Securities, together with the Base Prospectus, that is first filed
with the Commission pursuant to Rule 424(b). Any reference herein to the Registration Statement, any preliminary prospectus or
the Prospectus shall be deemed to refer to and include the documents that are or are deemed to be incorporated by reference therein
pursuant to Item 12 of Form&nbsp;S-3 under the 1933 Act prior to the Applicable Time (as defined below). For purposes of this Agreement,
all references to the Registration Statement, any preliminary prospectus or the Prospectus or to any amendment or supplement to
any of the foregoing shall be deemed to include any copy filed with the Commission pursuant to its Electronic Data Gathering, Analysis
and Retrieval system (&#8220;<B>EDGAR</B>&#8221;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">All references in this Agreement to financial
statements and schedules and other information which is &#8220;contained,&#8221; &#8220;included&#8221; or &#8220;stated&#8221;
(or other references of like import) in the Registration Statement, any preliminary prospectus or the Prospectus or any amendment
or supplement thereto shall be deemed to mean and include all such financial statements and schedules and other information which
is or is deemed to be incorporated by reference in or otherwise deemed by the 1933 Act Regulations to be a part of or included
in the Registration Statement, any preliminary prospectus or the Prospectus or any amendment or supplement thereto, as the case
may be, on or before the effective date of the Registration Statement or the date of such preliminary prospectus or the Prospectus
or such amendment or supplement, as the case may be; and all references in this Agreement to amendments or supplements to the Registration
Statement, any preliminary prospectus or the Prospectus shall be deemed to mean and include the filing of any document under the
Securities Exchange Act of 1934, as amended (the &#8220;<B>1934 Act</B>&#8221;), which is or is deemed to be incorporated by reference
in or otherwise deemed by the 1933 Act Regulations to be a part of or included in the Registration Statement, such preliminary
prospectus or the Prospectus, as the case may be, at the time of such amendment or supplement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">SECTION
1.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U>Representations and Warranties</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(a)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Representations and Warranties</I>. The Company represents and warrants to each Underwriter, as of the date hereof, as of
the Applicable Time and as of the Closing Time (as defined below) (in each case, a &#8220;<B>Representation Date</B>&#8221;), as
follows:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(1)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Compliance with Registration Requirements</U>. The Company meets the requirements for use of Form S-3 under the 1933
Act. The Registration Statement became effective upon filing with the Commission under Rule&nbsp;462(e) of the 1933 Act Regulations
(&#8220;<B>Rule 462(e)</B>&#8221;) on November 18, 2014 and any post-effective amendment thereto also became effective upon filing
under Rule 462(e). No stop order suspending the effectiveness of the Registration Statement or preventing or suspending the use
of any prospectus has been issued under the 1933 Act and no proceedings for that purpose or pursuant to Section 8A of the 1933
Act against the Company or related to the offering of the Securities have been instituted or are pending or, to the knowledge of
the Company,</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">are contemplated by the Commission, any request on
the part of the Commission for additional information has been complied with, and no notice of objection of the Commission to the
use of the Registration Statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) of the 1933 Act Regulations
has been received by the Company. In addition, the Indenture has been duly qualified under the Trust Indenture Act of 1939, as
amended (the &#8220;<B>1939 Act</B>&#8221;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">At the respective times the Registration
Statement and any post-effective amendments thereto became effective and as of each Representation Date, the Registration Statement
and any amendments thereto complied, complies and will comply in all material respects with the requirements of the 1933 Act and
the 1933 Act Regulations and the 1939 Act and the rules and regulations of the Commission under the 1939 Act (the &#8220;<B>1939
Act Regulations</B>&#8221;), and did not, does not and will not contain an untrue statement of a material fact or omit to state
a material fact required to be stated therein or necessary to make the statements therein not misleading; provided, that the Company
makes no representation or warranty with respect to the Underwriter Information (as defined below).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">The Prospectus and each amendment
or supplement thereto, if any, at the time the Prospectus or any such amendment or supplement is issued and at the Closing Time,
complied, complies and will comply in all material respects with the requirements of the 1933 Act and the 1933 Act Regulations,
and neither the Prospectus nor any amendment or supplement thereto included, includes or will include an untrue statement of a
material fact or omitted, omits or will omit to state a material fact necessary in order to make the statements therein, in the
light of the circumstances under which they were made, not misleading; provided, that the Company makes no representation or warranty
with respect to the Underwriter Information.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">Each preliminary prospectus and
any amendment thereto complied when so filed in all material respects with the 1933 Act and the 1933 Act Regulations and each preliminary
prospectus and the Prospectus delivered or made available to the Underwriters for use in connection with the offering of the Securities
was and will be, at the time of such delivery, identical to the electronically transmitted copies thereof filed with the Commission
pursuant to EDGAR, except to the extent permitted by Regulation S-T.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">As of the Applicable Time, neither
(x) the General Disclosure Package (as defined below) nor (y) any individual Issuer Limited Use Free Writing Prospectus (as defined
below), when considered together with the General Disclosure Package, included any untrue statement of a material fact or omitted
to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they
were made, not misleading; provided that the Company makes no representation or warranty with respect to the Underwriter Information.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">As used in this subsection and
elsewhere in this Agreement:</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">&#8220;<B>Applicable Time</B>&#8221;
means 3:15 P.M. (New York City time) on November 2, 2017 or such other time as agreed by the Company and the Representatives.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">&#8220;<B>General Disclosure Package</B>&#8221;
means (i) the Issuer General Use Free Writing Prospectus(es) (as defined below) relating to the Securities issued at or prior to
the Applicable Time, including the Final Term Sheet (as defined below) attached as <U>Schedule 3</U> hereto, and (ii) the most
recent preliminary prospectus (including any documents incorporated therein by reference) that is distributed to investors prior
to the Applicable Time, all considered together.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">&#8220;<B>Issuer Free Writing Prospectus</B>&#8221;
means any &#8220;issuer free writing prospectus,&#8221; as defined in Rule 433 of the 1933 Act Regulations (&#8220;<B>Rule 433</B>&#8221;),
relating to the Securities that (i) is required to be filed with the Commission, (ii) is a &#8220;road show that is a written communication&#8221;
within the meaning of Rule 433(d)(8)(i), whether or not required to be filed with the Commission or (iii) is exempt from filing
pursuant to Rule 433(d)(5)(i) because it contains a description of the Securities or of the offering thereof that does not reflect
the final terms, in each case in the form filed or required to be filed with the Commission or, if not required to be filed, in
the form retained in the Company&#8217;s records pursuant to Rule 433(g).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">&#8220;<B>Issuer General Use Free
Writing Prospectus</B>&#8221; means any Issuer Free Writing Prospectus that is intended for general distribution to prospective
investors, as evidenced by its being specified in <U>Schedule 2-A</U> hereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">&#8220;<B>Issuer Limited Use Free
Writing Prospectus</B>&#8221; means any Issuer Free Writing Prospectus that is not an Issuer General Use Free Writing Prospectus
and that is specified in <U>Schedule 2-B</U> hereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">Each Issuer Free Writing Prospectus,
as of its issue date and at all subsequent times through the completion of the offering and sale of the Securities under this Agreement
or until any earlier date that the Company notified or notifies you as described in Section 3(e), did not, does not and will not
include any information that conflicted, conflicts or will conflict with the information contained in the Registration Statement
or the Prospectus. The Company has complied with the requirements of Rule 164 and Rule 433 of the 1933 Act Regulations with respect
to each Issuer Free Writing Prospectus.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(2)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Status as a Well-Known Seasoned Issuer</U>. Since the time of initial filing of the Registration Statement, the Company
has been, and continues to be, a &#8220;well known seasoned issuer&#8221; as defined in Rule&nbsp;405 of the 1933 Act Regulations
(&#8220;<B>Rule 405</B>&#8221;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(3)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Status as Non-Ineligible Issuer</U>. At the earliest time that the Company or another offering participant made a <I>bona
fide</I> offer (within the meaning of Rule 164(h)(2) of the 1933 Act Regulations) of the Securities and at each Representation
Date, the Company was not and is not an &#8220;ineligible issuer,&#8221; as defined in Rule&nbsp;405.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(4)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Incorporated Documents</U>. The documents incorporated or deemed to be incorporated by reference in the Registration
Statement, the General Disclosure Package or the Prospectus, at the time they were or hereafter are filed with the Commission,</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">complied and will comply in all material respects with
the requirements of the 1934 Act and the rules and regulations of the Commission thereunder (the &#8220;<B>1934 Act Regulations</B>&#8221;)
and, when read together with the other information in the Registration Statement, the General Disclosure Package or the Prospectus,
as the case may be, (a) at the time the Registration Statement originally became effective and (b) at each Representation Date,
did not, does not and will not include an untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not
misleading.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(5)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Independent Accountants</U>. The accountants who certified the financial statements and any supporting schedules thereto
included in the Registration Statement, the General Disclosure Package or the Prospectus are independent public accountants as
required by the 1933 Act and the 1933 Act Regulations and the Public Company Accounting Oversight Board (United States).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(6)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Financial Statements</U>. The financial statements of the Company included or incorporated by reference in the Registration
Statement, the General Disclosure Package or the Prospectus, together with the related schedules and notes, as well as those financial
statements, schedules and notes of any other entity included or incorporated by reference therein, present fairly the financial
position of the Company and its consolidated subsidiaries, or such other entity, as the case may be, at the dates indicated and
the statement of operations, member&#8217;s equity and cash flows of the Company and its consolidated subsidiaries, or such other
entity, as the case may be, for the periods specified. Such financial statements have been prepared in conformity with U.S. generally
accepted accounting principles (&#8220;<B>GAAP</B>&#8221;) applied on a consistent basis throughout the periods involved. Except
as otherwise included or incorporated by reference in the Registration Statement, the General Disclosure Package and the Prospectus,
neither pro forma financial statements of the Company nor the financial statements of any entity other than the Company are required
to be included in the Registration Statement, the General Disclosure Package or the Prospectus under the 1933 Act, the 1933 Act
Regulations, the 1934 Act or the 1934 Act Regulations. The supporting schedules, if any, included or incorporated by reference
in the Registration Statement, the General Disclosure Package or the Prospectus present fairly in accordance with GAAP the information
required to be stated therein. The Company&#8217;s ratios of earnings to fixed charges included or incorporated by reference in
the Registration Statement (including Exhibit 12), the General Disclosure Package or the Prospectus have been calculated in compliance
with Item 503(d) of Regulation S-K of the 1933 Act Regulations. The selected financial data and the summary financial information
included or incorporated by reference in the Registration Statement, the General Disclosure Package or the Prospectus present fairly
the information shown therein and have been compiled on a basis consistent with that of the audited financial statements included
or incorporated by reference in the Registration Statement, the General Disclosure Package and the Prospectus. All disclosures
contained in the Registration Statement, the General Disclosure Package or the Prospectus, if any, regarding &#8220;non-GAAP financial
measures&#8221; (as such term is defined by the rules and regulations of the Commission) comply with Regulation G under the 1934
Act and Item 10 of Regulation S-K of the 1933 Act</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">Regulations, to the extent applicable. The interactive
data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement, the General
Disclosure Package and the Prospectus fairly presents the information called for in all material respects and has been prepared
in accordance with the Commission&#8217;s rules and guidelines applicable thereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(7)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Material Adverse Change in Business</U>. The Company has not sustained since the date of the latest audited financial
statements included or incorporated by reference in the Registration Statement, the General Disclosure Package and the Prospectus
any material loss from fire, explosion, flood, accident or other calamity not fully covered by insurance, otherwise than as set
forth or contemplated in the Registration Statement, the General Disclosure Package and the Prospectus. Since the respective dates
as of which information is given in the Registration Statement, the General Disclosure Package or the Prospectus, except as otherwise
stated therein, (A) there has been no material adverse change, or any development involving a prospective material adverse change,
in the general affairs, financial condition, earnings or business affairs of the Company and its subsidiaries (each such subsidiary,
a &#8220;<B>Subsidiary</B>&#8221; and, collectively, the &#8220;<B>Subsidiaries</B>&#8221;), considered as one enterprise, whether
or not arising in the ordinary course of business (a &#8220;<B>Material Adverse Change</B>&#8221;); (B) there have been no transactions
entered into by the Company or any of its Subsidiaries, other than those arising in the ordinary course of business, which are
material with respect to the Company and its Subsidiaries considered as one enterprise; (C) other than, in the case of the Company,
regular dividends on the Company&#8217;s common stock or preferred stock, in amounts per share that are consistent with past practice
or the applicable charter document or supplement thereto, respectively, or, in the case of any of the Company&#8217;s Subsidiaries,
to the Company, there has been no dividend or distribution of any kind declared, paid or made by the Company or any of its Subsidiaries
on any class of its capital stock; and (D) there has not been any material change in the capital stock (other than upon exercise
of outstanding stock options, upon conversion of convertible securities outstanding as of the date of the most recent balance sheet
incorporated by reference into the Registration Statement, the General Disclosure Package and the Prospectus or pursuant to the
Company&#8217;s employee or director compensation and benefit plans or the Company&#8217;s dividend reinvestment and stock purchase
plan) or long-term debt of the Company and its Subsidiaries considered as one enterprise.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(8)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Good Standing of the Company</U>. The Company has been duly incorporated, is validly existing as a corporation in good
standing under the laws of the jurisdiction of its incorporation, has the requisite power and authority to own its property and
to conduct its business as described in the Registration Statement, the General Disclosure Package and the Prospectus and is duly
qualified to transact business and is in good standing in each jurisdiction in which the conduct of its business or its ownership
or leasing of property requires such qualification, except to the extent that the failure to be so qualified or be in good standing
would not result in a Material Adverse Change.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(9)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Good Standing of Significant Subsidiaries</U>. Each Subsidiary of the Company which is a significant subsidiary, as defined
in Rule 405 (each, a &#8220;<B>Significant Subsidiary</B>&#8221;), has been duly incorporated or organized, is validly existing
as a</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">corporation or limited liability company in good standing
under the laws of the jurisdiction of its incorporation or organization, has the requisite power and authority to own its property
and to conduct its business as described in the Registration Statement, the General Disclosure Package and the Prospectus and is
duly qualified to transact business and is in good standing in each jurisdiction in which the conduct of its business or its ownership
or leasing of property requires such qualification, except to the extent that the failure to be so qualified or be in good standing
would not result in a Material Adverse Change. All of the issued shares of capital stock or other equity interests of each Significant
Subsidiary have been duly and validly authorized and issued, are fully paid and non-assessable and are owned directly by the Company
or a direct wholly-owned Subsidiary of the Company, as the case may be, free and clear of all liens, encumbrances, equities or
claims. None of the outstanding shares of capital stock or other equity interests of any Significant Subsidiary were issued in
violation of preemptive or other similar rights of any security holder of such Significant Subsidiary.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(10)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Capitalization</U>. The authorized, issued and outstanding shares of capital stock of the Company are as set forth in
the Company&#8217;s most recent Annual Report on Form 10-K or, if applicable, subsequent Quarterly Report on Form 10-Q (except
for subsequent issuances thereof, if any, pursuant to reservations, agreements or employee benefit plans or pursuant to the exercise
of convertible securities or options, in each case which are referred to in the Registration Statement, the General Disclosure
Package and the Prospectus). Such shares of capital stock have been duly authorized and validly issued by the Company and are fully
paid and non-assessable and none of such shares of capital stock of the Company were issued in violation of preemptive or other
similar rights of any security holder of the Company.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(11)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Authorization of this Agreement</U>. This Agreement has been duly authorized, executed and delivered by the Company.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(12)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Authorization of Securities</U>. The Securities have been duly authorized by the Company for issuance and sale pursuant
to this Agreement. At the Closing Time, the Securities will have been duly executed by the Company and, when authenticated in the
manner provided for in the Indenture and delivered against payment of the requisite consideration therefor, will constitute valid
and legally binding obligations of the Company, enforceable against the Company in accordance with their terms, except as the enforcement
thereof may be limited by bankruptcy, insolvency (including, without limitation, all laws relating to fraudulent transfers), reorganization,
moratorium or other similar laws affecting the enforcement of creditors&#8217; rights generally or by general equitable principles
(regardless of whether enforcement is considered in a proceeding in equity or at law), and except further as enforcement thereof
may be limited by requirements that a claim with respect to any debt securities payable in a foreign or composite currency (or
a foreign or composite currency judgment in respect of such claim) be converted into U.S. dollars at a rate of exchange prevailing
on a date determined pursuant to applicable law or by governmental authority to limit, delay or prohibit the making of payments
outside the United States. The Securities will be in the form contemplated by, and each registered holder thereof will be entitled
to the benefits of, the Indenture.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(13)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Authorization of the Indenture</U>. The Indenture has been duly authorized, executed and delivered by the Company and
constitutes a valid and legally binding agreement of the Company, enforceable against the Company in accordance with its terms,
except as the enforcement thereof may be limited by bankruptcy, insolvency (including, without limitation, all laws relating to
fraudulent transfers), reorganization, moratorium or other similar laws affecting the enforcement of creditors&#8217; rights generally
or by general equitable principles (regardless of whether enforcement is considered in a proceeding in equity or at law), and except
further as enforcement thereof may be limited by requirements that a claim with respect to any debt securities issued or issuable
under the Indenture that are payable in a foreign or composite currency (or a foreign or composite currency judgment in respect
of such claim) be converted into U.S. dollars at a rate of exchange prevailing on a date determined pursuant to applicable law
or by governmental authority to limit, delay or prohibit the making of payments outside the United States.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(14)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Descriptions of the Securities and the Indenture</U>. The Indenture conforms, and, upon issuance, the Securities will
conform, in all material respects to the statements relating thereto contained in the Registration Statement, the General Disclosure
Package and the Prospectus and will be substantially in the forms filed or incorporated by reference, as the case may be, as an
exhibit to the Registration Statement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(15)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Absence of Defaults and Conflicts</U>. Neither the Company nor any of its Subsidiaries is in violation of its certificate
of incorporation or by-laws or other organizational documents or in default in the performance or observance of any obligation,
agreement, covenant or condition contained in any contract, indenture, mortgage, deed of trust, loan or credit agreement, note,
lease or other agreement or instrument to which the Company or any of its Subsidiaries is a party or by which it or any of them
may be bound, or to which any of the assets, properties or operations of the Company or any of its Subsidiaries is subject (collectively,
&#8220;<B>Agreements and Instruments</B>&#8221;), except for such defaults that would not result in a Material Adverse Change.
The execution, delivery and performance of this Agreement, the Indenture, the Securities and any other agreement or instrument
entered into or issued or to be entered into or issued by the Company in connection with the transactions contemplated hereby or
thereby or in the Registration Statement, the General Disclosure Package and the Prospectus and the consummation of the transactions
contemplated herein and in the Registration Statement, the General Disclosure Package and the Prospectus (including the issuance
and sale of the Securities and the use of the proceeds from the sale of the Securities as described therein) and compliance by
the Company with its obligations hereunder and thereunder have been duly authorized by all necessary corporate action and do not
and will not, whether with or without the giving of notice or passage of time or both, conflict with or constitute a breach of,
or default or Repayment Event (as defined below) under, or result in the creation or imposition of any lien, charge or encumbrance
upon any assets, properties or operations of the Company or any of its Subsidiaries pursuant to, any Agreements and Instruments,
nor will such action result in any violation of the provisions of the certificate of incorporation or by-laws or other organizational
documents of the Company or any of its Subsidiaries or any applicable law, statute, rule, regulation, judgment, order, writ or
decree of any government, government</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">instrumentality or court, domestic or foreign, having
jurisdiction over the Company or any of its Subsidiaries or any of their assets, properties or operations. As used herein, a &#8220;<B>Repayment
Event</B>&#8221; means any event or condition which gives the holder of any note, debenture or other evidence of indebtedness (or
any person acting on such holder&#8217;s behalf) the right to require the repurchase, redemption or repayment of all or a portion
of such indebtedness by the Company or any of its Subsidiaries.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(16)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Absence of Labor Dispute</U>. Other than as set forth in or contemplated by the Registration Statement, the General Disclosure
Package and the Prospectus, no labor dispute with the employees of the Company or any of its Subsidiaries exists or, to the knowledge
of the Company, is imminent, and the Company does not have actual knowledge of any existing or imminent labor disturbance by the
employees of any of its or any Subsidiary&#8217;s principal suppliers, manufacturers, customers or contractors, which, in either
case, may reasonably be expected to result in a Material Adverse Change.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(17)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Absence of Proceedings</U>. Other than as set forth in or contemplated by the Registration Statement, the General Disclosure
Package and the Prospectus, there is no action, suit, proceeding, inquiry or investigation before or brought by any court or governmental
agency or body, domestic or foreign, now pending, or, to the knowledge of the Company, threatened, against or affecting the Company
or any of its Subsidiaries which is required to be disclosed in the Registration Statement, the General Disclosure Package and
the Prospectus (other than as stated in the Registration Statement, the General Disclosure Package and the Prospectus), or which
might reasonably be expected to result in a Material Adverse Change, or which might reasonably be expected to materially and adversely
affect the consolidated assets, properties or operations thereof or the consummation of the transactions contemplated under the
Registration Statement, the General Disclosure Package and the Prospectus, this Agreement, the Securities or the Indenture, or
the performance by the Company of its obligations hereunder and thereunder. The aggregate of all pending legal or governmental
proceedings to which the Company or any of its Subsidiaries is a party or of which any of their respective assets, properties or
operations is the subject which are not described in the Registration Statement, the General Disclosure Package and the Prospectus,
including ordinary routine litigation incidental to the business, could not reasonably be expected to result in a Material Adverse
Change.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(18)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Accuracy of Exhibits</U>. There are no contracts or documents which are required under the 1933 Act, the 1933 Act Regulations,
the 1934 Act or the 1934 Act Regulations to be described in the Registration Statement, the General Disclosure Package, the Prospectus
or the documents incorporated by reference therein or to be filed as exhibits thereto which have not been so described or filed
as required.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(19)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Absence of Further Requirements</U>. No filing with, or authorization, approval, consent, license, order, registration,
qualification or decree of, any court or governmental authority or agency, domestic or foreign, is necessary or required for the
due authorization, execution and delivery by the Company of this Agreement, the Indenture, the Securities or for the performance
by the Company of the transactions contemplated under the Registration Statement, the General Disclosure Package, the</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">Prospectus, this Agreement, the Securities or the Indenture,
except the registration of the Securities under the 1933 Act, the qualification of the Indenture under the 1939 Act and such consents,
approvals, registrations or qualifications as may be required under state securities or Blue Sky laws in connection with the issuance
and sale of the Securities and except such as have been already made, obtained or rendered, as applicable.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(20)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Possession of Licenses and Permits</U>. The Company and its Subsidiaries possess such permits, licenses, approvals, consents
and other authorizations (collectively, &#8220;<B>Governmental Licenses</B>&#8221;) issued by the appropriate federal, state, local
or foreign regulatory agencies or bodies necessary to conduct the business now operated by them, except where the failure so to
possess such Governmental Licenses would not, singly or in the aggregate, result in a Material Adverse Change. The Company and
its Subsidiaries are in compliance with the terms and conditions of all such Governmental Licenses, except where the failure so
to comply would not, singly or in the aggregate, result in a Material Adverse Change. All of the Governmental Licenses are valid
and in full force and effect, except where the invalidity of such Governmental Licenses or the failure of such Governmental Licenses
to be in full force and effect would not result in a Material Adverse Change. Neither the Company nor any of its Subsidiaries has
received any notice of proceedings relating to the revocation or modification of any such Governmental Licenses which, singly or
in the aggregate, if the subject of an unfavorable decision, ruling or finding, would result in a Material Adverse Change.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(21)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Title to Property</U>. The Company and its Subsidiaries have good and marketable title to all real property owned by
the Company and its Subsidiaries and good title to all other properties owned by them, in each case, free and clear of all mortgages,
pledges, liens, security interests, claims, restrictions or encumbrances of any kind, except (A) as otherwise stated in the Registration
Statement, the General Disclosure Package and the Prospectus or (B) those which do not, singly or in the aggregate, materially
affect the value of the properties owned by the Company and its Subsidiaries considered as one enterprise and do not interfere
in any material respect with the use made and proposed to be made of such properties. All of the leases and subleases material
to the business of the Company and its Subsidiaries considered as one enterprise, and under which the Company or any of its Subsidiaries
holds properties, are in full force and effect, and neither the Company nor any of its Subsidiaries has received any notice of
any material claim of any sort that has been asserted by anyone adverse to the rights of the Company or any of its Subsidiaries
under any of the leases or subleases mentioned above, or affecting or questioning the rights of the Company or such Subsidiary
of the continued possession of the leased or subleased premises under any such lease or sublease.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(22)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Insurance</U>. The Company and its Subsidiaries have in full force and effect insurance with insurers believed to be
reputable by the Company, covering their assets, properties, operations, personnel and business against such losses, damage, risks
and hazards as are adequate in accordance with customary industry practice to protect the Company and its Subsidiaries considered
as one enterprise.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(23)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Commodity Exchange Act</U>. The Securities will be excluded or exempted under, or beyond the purview of, the Commodity
Exchange Act, as amended (the</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">&#8220;<B>Commodity Exchange Act</B>&#8221;), and the
rules and regulations of the Commodity Futures Trading Commission under the Commodity Exchange Act (the &#8220;<B>Commodity Exchange
Act Regulations</B>&#8221;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(24)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Investment Company Act</U>. The Company is not, or upon the issuance and sale of the Securities as herein contemplated
and the application of the net proceeds therefrom as described in the Registration Statement, the General Disclosure Package and
the Prospectus will not be, an &#8220;investment company&#8221; within the meaning of the Investment Company Act of 1940, as amended
(the &#8220;<B>1940 Act</B>&#8221;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(25)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Environmental Laws</U>. Except as otherwise stated in the Registration Statement, the General Disclosure Package and
the Prospectus or except as would not, singly or in the aggregate, result in a Material Adverse Change, (A) neither the Company
nor any of its Subsidiaries is in violation of any federal, state, local or foreign statute, law, rule, regulation, ordinance,
code, policy or rule of common law or any judicial or administrative interpretation thereof, including any judicial or administrative
order, consent, decree or judgment, relating to pollution or protection of human health, the environment (including, without limitation,
ambient air, surface water, groundwater, land surface or subsurface strata) or wildlife, including, without limitation, laws and
regulations relating to the release or threatened release of chemicals, pollutants, contaminants, wastes, toxic substances, hazardous
substances, petroleum or petroleum products (collectively, &#8220;<B>Hazardous Materials</B>&#8221;) or to the manufacture, processing,
distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials (collectively, &#8220;<B>Environmental
Laws</B>&#8221;), (B) the Company and its Subsidiaries have all permits, authorizations and approvals required under any applicable
Environmental Laws and are each in compliance with their requirements, (C) there are no pending or threatened administrative, regulatory
or judicial actions, suits, demands, demand letters, claims, liens, notices of noncompliance or violation, investigation or proceedings
relating to any Environmental Law against the Company or any of its Subsidiaries and (D) there are no events or circumstances known
to the Company that might reasonably be expected to form the basis of an order for clean-up or remediation, or an action, suit
or proceeding by any private party or governmental body or agency, against or affecting the Company or any of its Subsidiaries
relating to Hazardous Materials or any Environmental Laws.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(26)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Patriot Act</U>. The Company will apply the net proceeds received from the offering and sale of the Securities as described
in the Registration Statement, the General Disclosure Package and the Prospectus and, to the knowledge of the Company, none of
such net proceeds will be used to further any action in violation or contravention of the U.S.A. Patriot Act or otherwise violate
or contravene the rules, regulations or policies of the U.S. Office of Foreign Assets Control.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(27)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Internal Control Over Financial Reporting</U>. The Company and each of its Subsidiaries maintains a system of internal
accounting controls sufficient to provide reasonable assurances that (i) transactions are executed in accordance with management&#8217;s
general or specific authorization; (ii) transactions are recorded as necessary to permit preparation of financial statements in
conformity with GAAP and to maintain</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">accountability for assets; (iii) access to assets is
permitted only in accordance with management&#8217;s general or specific authorization; (iv) the recorded accountability for assets
is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences; and
(v) the interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement,
the General Disclosure Package and the Prospectus fairly presents the information called for in all material respects and is prepared
in accordance with the Commission&#8217;s rules and guidelines applicable thereto. Except as described in the Registration Statement,
the General Disclosure Package and the Prospectus, since the end of the Company&#8217;s most recent audited fiscal year, there
has been (A) no material weakness in any such party&#8217;s internal control over financial reporting (whether or not remediated)
and (B) no change in any such party&#8217;s internal control over financial reporting that has materially affected, or is reasonably
likely to materially affect, such internal control over financial reporting.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(28)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Disclosure Controls and Procedures</U>. The Company employs disclosure controls and procedures that are designed to ensure
that information required to be disclosed by the Company in the reports that it files or submits under the 1934 Act is recorded,
processed, summarized and reported within the time periods specified in the Commission&#8217;s rules and forms and is accumulated
and communicated to the Company&#8217;s management, including its principal executive officer or officers and principal financial
officer or officers, as appropriate, to allow timely decisions regarding disclosure.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(29)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Compliance with the Sarbanes&#45;Oxley Act</U>. There is and has been no failure on the part of the Company or any of
the Company&#8217;s directors or officers, in their capacities as such, to comply in all material respects with any provision of
the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith, including Section 402 related
to loans and Sections 302 and 906 related to certifications.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(30)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Pending Proceedings and Examinations</U>. The Registration Statement is not the subject of a pending proceeding or examination
under Section 8(d) or 8(e) of the 1933 Act, and the Company is not the subject of a pending proceeding under Section 8A of the
1933 Act in connection with the offering and sale of the Securities.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(31)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Unlawful Contributions or Other Payments</U><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>.</I></FONT>
Neither the Company nor any of its Subsidiaries nor, to the knowledge of the Company, any director, officer, agent, employee or
affiliate of the Company or any of its Subsidiaries is aware of or has taken any action, directly or indirectly, that would result
in a violation by such persons of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder
(the &#8220;<B>FCPA</B>&#8221;), including, without limitation, making use of the mails or any means or instrumentality of interstate
commerce corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property,
gift, promise to give, or authorization of the giving of anything of value to any &#8220;foreign official&#8221; (as such term
is defined in the FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in contravention
of the FCPA, and the Company, its Subsidiaries and, to the knowledge of the Company, its affiliates have conducted their businesses
in compliance with the FCPA and have</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">instituted and maintain policies and procedures designed
to ensure, and which are reasonably expected to continue to ensure, continued compliance therewith.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(32)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Conflict with Money Laundering Laws</U><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>.</I></FONT> The
operations of the Company and its Subsidiaries are and have been conducted at all times in compliance with applicable financial
recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money
laundering statutes of all applicable jurisdictions, the rules and regulations thereunder and any related or similar rules, regulations
or guidelines issued, administered or enforced by any governmental agency (collectively, the &#8220;<B>Money Laundering Laws</B>&#8221;)
and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving
the Company or any of its Subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of the Company,
threatened.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(33)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>OFAC</U><I>. </I>Neither the Company nor any of its Subsidiaries, nor, to the knowledge of the Company, any director,
officer, agent or employee of the Company or any of its Subsidiaries is currently the subject of any sanctions administered or
enforced by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(b)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Officers&#8217; Certificates</I>. Any certificate signed by any officer of the Company or any of its Subsidiaries and delivered
to any Underwriter or to counsel for the Underwriters in connection with the offering of the Securities shall be deemed a representation
and warranty by the Company to each Underwriter as to the matters covered thereby on the date of such certificate.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">SECTION
2.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U>Sale and Delivery to Underwriters;
Closing</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(a)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Securities</I>. On the basis of the representations, warranties and agreements herein contained, and upon the terms
but subject to the conditions herein set forth, the Company agrees to sell to each Underwriter, severally and not jointly, and
each Underwriter agrees, severally and not jointly, to purchase from the Company the aggregate principal amount of the Securities
set forth opposite the names of the Underwriters on <U>Schedule 1</U> at a purchase price of 99.273% of the aggregate principal
amount of the Securities, plus accrued interest thereon, if any, from November 6, 2017 to the Closing Time. The Securities and
the offering thereof will have the terms specified in the Final Term Sheet referred to in Section 3(b).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(b)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Payment</I>. The Company will deliver against payment of the purchase price set forth in Section 2(a) the Securities in
the form of permanent global securities (the &#8220;<B>Global Securities</B>&#8221;) deposited with the Trustee as custodian for
The Depository Trust Company (&#8220;<B>DTC</B>&#8221;) and registered in the name of Cede &amp; Co., as nominee for DTC. Interests
in any permanent Global Securities will be held only in book-entry form through DTC, except in the limited circumstances described
in the General Disclosure Package. Payment for the Securities shall be made by the Underwriters in immediately available funds
by wire transfer to an account specified by the Company drawn to the order of the Company at the office of the Company, 80 Park
Plaza, Newark, New Jersey 07102, or at such other place as shall be agreed upon by the Representatives and the Company, at 9:00
A.M. (New York City time) on November 6, 2017, or</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">such other time and date as the Representatives and the Company
shall mutually agree (the time and date of such closing are called (unless postponed in accordance with the provisions of Section
10 hereof) the &#8220;<B>Closing Time</B>&#8221;), against delivery to the Trustee as custodian for DTC of the Global Securities
representing all of the Securities.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">It is understood that each Underwriter
has authorized the Representatives, for their accounts, to accept delivery of, receipt for, and make payment of the purchase price
for, the Securities which it has severally agreed to purchase. Each Representative, individually and not as representative of the
Underwriters, may (but shall not be obligated to) make payment of the purchase price for the Securities to be purchased by any
Underwriter whose funds have not been received by the Closing Time, but such payment shall not relieve such Underwriter from its
obligations hereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(c)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Denominations; Registration</I>. The Securities shall be in such denominations and registered in such names as the Representatives
may request in writing at least one full business day prior to the Closing Time. The Securities will be made available for examination
by the Representatives in The City of New York not later than 9:00 A.M. (New York City time) on the business day prior to the Closing
Time.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">SECTION
3.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U>Covenants of the Company</U>.
The Company covenants with each Underwriter as follows:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(a)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Compliance with Securities Regulations and Commission Requests</I>. The Company, subject to Section 3(b), will comply with
the requirements of Rule 430B and, during the Prospectus Delivery Period (as defined below), will notify the Representatives promptly,
and confirm the notice in writing, (i)&nbsp;of the effectiveness of any post-effective amendment to the Registration Statement
or of a new registration statement relating to the Securities or the filing of any supplement or amendment to the Prospectus or
any preliminary prospectus, (ii)&nbsp;of the receipt of any comments from the Commission, (iii)&nbsp;of any request by the Commission
for any amendment to the Registration Statement or the filing of a new registration statement or any amendment or supplement to
the Prospectus or any preliminary prospectus or any document incorporated by reference therein or otherwise deemed to be a part
thereof or for additional information, (iv)&nbsp;of the issuance by the Commission of any stop order suspending the effectiveness
of the Registration Statement or such new registration statement, or notice objecting to its use pursuant to Rule 401(g)(2) of
the 1933 Act Regulations, or of any order preventing or suspending the use of any preliminary prospectus or the Prospectus, or
of the suspension of the qualification of the Securities for offering or sale in any jurisdiction, or of the initiation or threatening
of any proceedings for any of such purposes or of any examination pursuant to Section 8(e) of the 1933 Act concerning the Registration
Statement and (v) if the Company becomes the subject of a proceeding under Section 8A of the 1933 Act in connection with the offering
of the Securities. The Company will promptly effect the filings necessary pursuant to Rule 424(b), in the manner and within the
time period required by Rule 424(b) (without reliance on Rule 424(b)(8)), and will take such steps as it deems necessary to ascertain
promptly whether the Prospectus transmitted for filing under Rule 424(b) was received for filing by the Commission and, in the
event that it was not, the Company will promptly file the Prospectus. The Company will make every reasonable effort to prevent
the issuance of any stop order and, if any stop order is issued, promptly to use its best efforts to obtain its withdrawal.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">The Company agrees to pay the required Commission filing
fees relating to the offering of the Securities within the time required by and in accordance with Rule&nbsp;456(b)(1) and 457(r)
of the 1933 Act Regulations.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(b)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Filing of Amendments and 1934 Act Documents; Preparation of Final Term Sheet</I>.<FONT STYLE="color: red"> </FONT> During
such period beginning on the date of this Agreement and ending on the later of the Closing Time or such date as, in the opinion
of counsel for the Underwriters, the Prospectus is no longer required by law to be delivered in connection with sales of the Securities
by an Underwriter or dealer, including in circumstances where such requirement may be satisfied pursuant to Rule 172 of the 1933
Act Regulations (the &#8220;<B>Prospectus Delivery Period</B>&#8221;), the Company will give the Representatives notice of its
intention to file or prepare any amendment to the Registration Statement or a new registration statement relating to the Securities
or any amendment, supplement or revision to any preliminary prospectus or to the Prospectus, whether pursuant to the 1933 Act,
the 1934 Act or otherwise, will furnish the Representatives with copies of any such documents a reasonable amount of time prior
to such proposed filing or use, as the case may be, and will not file or use any such document of which the Representatives or
counsel for the Underwriters shall reasonably disapprove. The Company has given the Representatives notice of any filings made
pursuant to the 1934 Act or the 1934 Act Regulations within 48 hours prior to the Applicable Time; the Company will give the Representatives
notice of its intention to make any such filing from the Applicable Time to the Closing Time and will furnish the Representatives
with copies of any such documents a reasonable amount of time prior to such proposed filing and will not file or use any such document
to which the Representatives or counsel for the Underwriters shall object. The Company will prepare a final term sheet (the &#8220;<B>Final
Term Sheet</B>&#8221;) reflecting the final terms of the Securities, in form and substance satisfactory to the Underwriters and
attached as <U>Schedule 3</U> hereto, and will file such Final Term Sheet pursuant to Rule&nbsp;433(d) within the time required
by such rule. The Final Term Sheet is an Issuer Free Writing Prospectus for purposes of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(c)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Delivery of Registration Statement</I>. The Company has furnished or will deliver to the Representatives and counsel for
the Underwriters, in such quantities as the Representatives may reasonably request, without charge, signed copies of the Registration
Statement as originally filed and any amendment thereto (including exhibits filed therewith or incorporated by reference therein
and documents incorporated or deemed to be incorporated by reference therein or otherwise deemed to be a part thereof) and signed
copies of all consents and certificates of experts, and will also deliver to the Representatives, without charge, a conformed copy
of the Registration Statement as originally filed and any amendment thereto (without exhibits) for each of the Underwriters. The
Registration Statement and any amendment thereto furnished to the Underwriters will be identical to any electronically transmitted
copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation S-T.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(d)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Delivery of Prospectuses</I>. The Company will deliver to each Underwriter, without charge, as many copies of each preliminary
prospectus and any amendment or supplement thereto as such Underwriter may reasonably request, and the Company hereby consents
to the use of such copies for purposes permitted by the 1933 Act. The Company will furnish to each Underwriter, without charge,
during the Prospectus Delivery Period, such number of copies of the Prospectus (as amended or supplemented) as such Underwriter
may reasonably request. Each preliminary prospectus and the Prospectus and any amendments or supplements thereto</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">furnished to the Underwriters will be identical to any electronically
transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation S-T.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(e)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Continued Compliance with Securities Laws</I>. The Company will comply with the 1933 Act and the 1933 Act Regulations, the
1934 Act and the 1934 Act Regulations and the 1939 Act and the rules and regulations of the Commission under the 1939 Act so as
to permit the completion of the distribution of the Securities as contemplated in this Agreement and in the Registration Statement,
the General Disclosure Package and the Prospectus. If at any time during the Prospectus Delivery Period, any event shall occur
or condition shall exist as a result of which it is necessary, in the opinion of counsel for the Underwriters or for the Company,
to amend the Registration Statement in order that the Registration Statement will not contain an untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading
or to amend or supplement the General Disclosure Package or the Prospectus in order that such General Disclosure Package or the
Prospectus, as the case may be, will not include an untrue statement of a material fact or omit to state a material fact necessary
in order to make the statements therein, in the light of the circumstances existing at the Applicable Time or at the time it is
delivered or conveyed to a purchaser, not misleading, or if it shall be necessary, in the opinion of such counsel, at any such
time to amend the Registration Statement, to file a new registration statement or to amend or supplement the General Disclosure
Package or the Prospectus in order to comply with the requirements of the 1933 Act or the 1933 Act Regulations, the Company will:
(i) promptly prepare and file with the Commission, subject to Sections 3(b) and 3(k), such amendment or supplement or new registration
statement as may be necessary to correct such statement or omission or to make the Registration Statement, the General Disclosure
Package or the Prospectus comply with such requirements; (ii) use their best efforts to have such amendment or new registration
statement (if it is not an automatic shelf registration statement) declared effective as soon as practicable; and (iii) furnish
to the Underwriters, without charge, such number of copies of such amendment or supplement or new registration statement as the
Underwriters may reasonably request. If, prior to the completion of the public offer and sale of the Securities, at any time following
the issuance of an Issuer Free Writing Prospectus there occurred or occurs an event or development as a result of which such Issuer
Free Writing Prospectus conflicted or would conflict with the information then contained in the Registration Statement, any preliminary
prospectus or the Prospectus or included or would include an untrue statement of a material fact or omitted or would omit to state
a material fact necessary in order to make the statements therein, in the light of the circumstances prevailing at that subsequent
time, not misleading, the Company will promptly (i) notify the Representatives and (ii) either (1) amend or supplement such Issuer
Free Writing Prospectus to eliminate or correct such conflict, untrue statement or omission or (2) file a report with the Commission
under the 1934 Act that corrects such untrue statement or omission and notify the Representatives in writing that such Issuer Free
Writing Prospectus shall no longer be used.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(f)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Blue Sky Qualifications</I>. The Company will use its best efforts, in cooperation with the Underwriters, to qualify the
Securities for offering and sale under the applicable securities laws of such states and other jurisdictions (domestic or foreign)
as the Representatives may designate and to maintain such qualifications in effect for a period of not less than one year from
the date of this Agreement; <U>provided</U>, <U>however</U>, that the Company shall not be obligated to file</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">any general consent to service of process or to qualify as
a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified or to subject itself to
taxation in respect of doing business in any jurisdiction in which it is not otherwise so subject. In each jurisdiction in which
the Securities have been so qualified, the Company will file such statements and reports as may be required by the laws of such
jurisdiction to continue such qualification in effect for a period of not less than one year from the date of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(g)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Earnings Statement</I>. The Company will timely file such reports pursuant to the 1934 Act as are necessary in order to
make generally available to its security holders as soon as practicable an earnings statement for the purposes of, and to provide
the benefits contemplated by, the last paragraph of Section 11(a) of the 1933 Act; <U>provided</U>, that the Company will be deemed
to have furnished such statement to its security holders to the extent it is filed on EDGAR.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(h)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Use of Proceeds</I>. The Company will use the net proceeds received by it from the sale of the Securities in the manner
specified in the Registration Statement, the General Disclosure Package and the Prospectus under &#8220;Use of Proceeds.&#8221;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(i)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Restriction on Sale of Securities</I>. Between the date of this Agreement and the Closing Time, the Company will not, without
the prior written consent of the Representatives, directly or indirectly, issue, sell, offer or contract to sell, grant any option
for the sale of, or otherwise dispose of, the Securities.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(j)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Reporting Requirements</I>. The Company, during the Prospectus Delivery Period, will file all documents required to be filed
with the Commission pursuant to the 1934 Act within the time periods required by the 1934 Act and the 1934 Act Regulations.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(k)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Permitted Free Writing Prospectuses. </I>The Company represents and agrees that, unless it obtains the prior consent of
the Representatives, and each Underwriter represents and agrees that, unless it obtains the prior consent of the Representatives
and the prior consent of the Company, it has not made and will not make any offer relating to the Securities that would constitute
an &#8220;issuer free writing prospectus,&#8221; as defined in Rule 433, or that would otherwise constitute a &#8220;free writing
prospectus,&#8221; as defined in Rule 405, required to be filed with the Commission; <U>provided</U>, <U>however</U>, that the
Underwriters are authorized to use any free writing prospectus that contains substantially only information specified in the Final
Term Sheet. Any such free writing prospectus consented to by the Company and the Representatives is hereinafter referred to as
a &#8220;<B>Permitted Free Writing Prospectus</B>.&#8221; The Company represents that it has treated or agrees that it will treat
each Permitted Free Writing Prospectus as an &#8220;issuer free writing prospectus,&#8221; as defined in Rule 433, and has complied
and will comply with the requirements of Rule 433 applicable to each and every Permitted Free Writing Prospectus, including timely
filing with the Commission where required, legending and record keeping.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(l)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Renewal of Registration Statement</I>. If, immediately prior to the third anniversary of the initial effective date of the
Registration Statement (the &#8220;<B>Renewal Date</B>&#8221;), any of the Securities remain unsold by the Underwriters, the Company
will, prior to the Renewal Date and subject to Section 3(b), file, if it has not already done so and is eligible to do so, a new
automatic shelf registration statement relating to the Securities. If no longer eligible to file an automatic</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">shelf registration statement, the Company will, prior to
the Renewal Date and subject to Section 3(b), if it has not already done so, file a new shelf registration statement relating to
the Securities and will use its reasonable best efforts to cause such registration statement to be declared effective within 180
days after the Renewal Date, and will take all other reasonable actions necessary or appropriate to permit the public offering
and sale of the Securities to continue as contemplated in the expired registration statement relating to the Securities. References
herein to the &#8220;<B>Registration Statement</B>&#8221; shall include such new automatic shelf registration statement or shelf
registration statement, as the case may be.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(m)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notice of Inability to Use Automatic Shelf Registration Statement Form</I>. If, at any time during the Prospectus Delivery
Period, the Company receives from the Commission a notice pursuant to Rule&nbsp;401(g)(2) of the 1933 Act Regulations or otherwise
ceases to be eligible to use the automatic shelf registration statement form, the Company will (i)&nbsp;promptly notify the Representatives,
(ii)&nbsp;promptly file a new registration statement or post&#45;effective amendment on the proper form relating to the Securities,
in a form satisfactory to the Representatives, (iii)&nbsp;use its reasonable best efforts to cause such registration statement
or post&#45;effective amendment to be declared effective and (iv)&nbsp;promptly notify the Representatives of such effectiveness.
The Company will take all other action necessary or appropriate to permit the public offering and sale of the Securities to continue
as contemplated in the registration statement that was the subject of the Rule&nbsp;401(g)(2) notice or for which the Company has
otherwise become ineligible. References herein to the Registration Statement shall include such new registration statement or post&#45;effective
amendment, as the case may be.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">SECTION
4.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U>Payment of Expenses</U>.
<I>(a)</I> <I>Expenses</I>. The Company will pay all expenses incident
to the performance of its obligations under this Agreement, including (i) the preparation, printing and filing of the Registration
Statement (including financial statements and exhibits) and any amendment thereto, (ii) the preparation, printing and delivery
to the Underwriters of this Agreement, the Indenture and such other documents as may be required in connection with the offering,
purchase, sale, issuance or delivery of the Securities, (iii) the preparation, issuance and delivery of the Securities to the Underwriters,
including any transfer taxes and any stamp or other duties payable upon the sale, issuance or delivery of the Securities to the
Underwriters, (iv) the fees and disbursements of counsel to the Company, accountants and other advisors or agents (including transfer
agents and registrars), as well as the fees and disbursements of the Trustee and its counsel, (v) the qualification of the Securities
under state securities laws in accordance with the provisions of Section 3(f) hereof, including filing fees and the reasonable
fees and disbursements of counsel for the Underwriters in connection therewith and in connection with the preparation, printing
and delivery of the Blue Sky Survey, and any amendment thereto, (vi) the printing and delivery to the Underwriters of copies of
the Registration Statement, each preliminary prospectus, any Issuer Free Writing Prospectus and the Prospectus and any amendments
or supplements thereto, (vii) the fees charged by nationally recognized statistical rating organizations for the rating of the
Securities, (viii) the filing fees incident to, and the reasonable fees and disbursements of counsel to the Underwriters in connection
with, the review, if any, by the Financial Industry Regulatory Authority (&#8220;<B>FINRA</B>&#8221;) of the terms of the sale
of the Securities, (ix) all fees and expenses in connection with making the Securities eligible for clearance, settlement and trading
through the facilities of DTC, and (x) all other costs and expenses incident to the performance of the obligations of the Company
hereunder for which provision is not otherwise made in this Section. It is understood, however, that except as</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">provided in this Section, Section 5(j), Section 6, Section
7 and Section 9(b), the Underwriters will pay all of their costs and expenses, including fees and disbursements of their counsel,
transfer taxes payable on resale of any of the Securities by them and any advertising expenses connected with any offers they may
make.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(b)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Termination of Agreement</I>. If this Agreement is terminated by the Representatives in accordance with the provisions of
Section 5 hereof, the Company shall reimburse the Underwriters for all of their out of pocket expenses, including the reasonable
fees and disbursements of counsel for the Underwriters.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">SECTION
5.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U>Conditions of Underwriters&#8217;
Obligations</U>. The obligations of the Underwriters to purchase and pay for the Securities pursuant to this Agreement are subject
to the accuracy of the representations and warranties of the Company contained in Section 1 hereof or in certificates of any officer
of the Company or any of its Subsidiaries delivered pursuant to the provisions hereof, to the performance by the Company of its
covenants and other obligations hereunder, and to the following further conditions:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(a)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Effectiveness of Registration Statement</I>. At Closing Time, (i) the Registration Statement shall have been filed by the
Company with the Commission not earlier than three years prior to the date hereof and shall have become effective upon filing in
accordance with Rule&nbsp;462(e), and no stop order suspending the effectiveness of the Registration Statement shall have been
issued under the 1933 Act and no proceedings for that purpose or pursuant to Section 8A of the 1933 Act against the Company or
related to the offering of the Securities shall have been instituted or be pending or threatened by the Commission, any request
on the part of the Commission for additional information shall have been complied with to the reasonable satisfaction of counsel
for the Underwriters, and no notice of objection of the Commission to the use of such form of registration statement or any post-effective
amendment thereto pursuant to Rule 401(g)(2) of the 1933 Act Regulations shall have been received by the Company, (ii)&nbsp;each
preliminary prospectus and the Prospectus shall have been filed with the Commission in the manner and within the time period required
by Rule 424(b) without reliance on Rule 424(b)(8) (or a post-effective amendment providing such information shall have been filed
and become effective in accordance with the requirements of Rule 430B) and (iii)&nbsp;the Final Term Sheet and any other material
required to be filed by the Company pursuant to Rule 433(d) shall have been filed with the Commission within the applicable time
periods prescribed for such filings under such Rule 433.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(b)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Opinion of Counsel for Company</I>. At Closing Time, the Representatives shall have received the favorable opinion, dated
as of Closing Time, of either Tamara L. Linde, Esquire, Executive Vice President and General Counsel of the Company, or Shawn P.
Leyden, Esquire, Vice President and Deputy General Counsel of PSEG Services Corporation, in form and substance satisfactory to
counsel for the Underwriters, together with signed or reproduced copies of such letter for each of the other Underwriters, to the
effect set forth in Exhibit A hereto and to such further effect as counsel to the Underwriters may reasonably request.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(c)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Opinion of Counsel for Underwriters</I>. At Closing Time, the Representatives shall have received the favorable opinion,
dated as of Closing Time, of Sidley Austin <FONT STYLE="font-variant: small-caps">llp</FONT>, counsel for the Underwriters, together
with signed or reproduced copies of such letter for each of the other</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">Underwriters, in form and substance satisfactory to the Representatives.
In giving such opinion, such counsel may rely, as to all matters governed by the laws of the State of New Jersey, upon the opinion,
dated as of Closing Time, of either Tamara L. Linde, Esquire, Executive Vice President and General Counsel of the Company, or Shawn
P. Leyden, Esquire, Vice President and Deputy General Counsel of the Company, and as to all matters governed by the laws of other
jurisdictions other than the law of the State of New York and the federal law of the United States, upon the opinions of counsel
satisfactory to the Representatives. Such counsel may also state that, insofar as such opinion involves factual matters, they have
relied, to the extent they deem proper, upon certificates of officers of the Company and its Subsidiaries and certificates of public
officials.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(d)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Officer&#8217;s Certificate</I>. At Closing Time, there shall not have been, since the date of this Agreement or since the
respective dates as of which information is given in the Registration Statement, the General Disclosure Package or the Prospectus,
any Material Adverse Change, and the Representatives shall have received a certificate of the Chairman, the President or any Vice
President of the Company, dated as of Closing Time, to the effect that (i) there has been no such Material Adverse Change, (ii)
the representations and warranties in Section 1(a) are true and correct with the same force and effect as though expressly made
at and as of the Closing Time, (iii) the Company has complied with all agreements contained in this Agreement and satisfied all
conditions on its part to be performed or satisfied at or prior to the Closing Time, and (iv) no stop order suspending the effectiveness
of the Registration Statement has been issued and no proceedings for that purpose or pursuant to Section 8A of the 1933 Act against
the Company or relating to the offering have been instituted, are pending or, to the best of such officer&#8217;s knowledge, are
threatened by the Commission.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(e)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accountant&#8217;s Comfort Letter</I>. At the Execution Time, the Representatives shall have received from Deloitte &amp;
Touche LLP, independent registered public accountants for the Company, a letter, dated as of the date hereof addressed to the Underwriters,
in form and substance satisfactory to the Representatives, together with signed or reproduced copies of such letter for each of
the other Underwriters, with respect to the audited and unaudited financial statements and certain financial information contained
or incorporated by reference in the Registration Statement, the General Disclosure Package and the Prospectus.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(f)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Bring-down Comfort Letter</I>. At Closing Time, the Representatives shall have received from Deloitte &amp; Touche LLP,
independent registered public accountants for the Company, a letter, dated as of Closing Time addressed to the Underwriters, in
form and substance satisfactory to the Representatives, together with signed or reproduced copies of such letter for each of the
other Underwriters to the effect that they reaffirm the statements made in the letter furnished pursuant to subsection (e) of this
Section 5, except that the specified date referred to shall be a date not more than three business days prior to the Closing Time.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(g)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Ratings</I>. At Closing Time, the Securities shall have the ratings accorded by any &#8220;nationally recognized statistical
rating organization,&#8221; as defined in Section 3(a)(62) of the 1934 Act, as specified in the Final Term Sheet, and the Company
shall have delivered to the Representatives a letter, dated as of such date, from each such rating organization, or other evidence
satisfactory to the Representatives, confirming that the Securities have such ratings. Since the Execution Time, there shall not
have occurred a downgrading in, or withdrawal of, the</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">rating assigned to the Securities or any of the Company&#8217;s
other securities by any such rating organization, and no such rating organization shall have publicly announced or given notice
of any intended or potential decrease in or withdrawal of any such rating or of a possible change in any such rating that does
not indicate the direction of the possible change.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(h)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No Objection</I>. If the Registration Statement or the offering of the Securities has been filed with FINRA for review,
FINRA shall not have raised any objection with respect to the fairness and reasonableness of the underwriting terms and arrangements.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(i)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Additional Documents</I>. At Closing Time, counsel for the Underwriters shall have been furnished with such documents and
opinions as they may require for the purpose of enabling them to pass upon the issuance and sale of the Securities as herein contemplated,
or in order to evidence the accuracy of any of the representations or warranties, or the fulfillment of any of the conditions,
herein contained; and all proceedings taken by the Company in connection with the issuance and sale of the Securities as herein
contemplated shall be satisfactory in form and substance to the Representatives and counsel for the Underwriters.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(j)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Termination</I>. If any condition specified in this Section 5 shall not have been fulfilled when and as required to be fulfilled,
this Agreement may be terminated by the Representatives by notice to the Company at any time at or prior to the Closing Time, and
such termination shall be without liability of any party to any other party except as provided in Section 4 and except that Sections
1, 6, 7, 8 and 14 shall survive any such termination and remain in full force and effect.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">SECTION
6.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U>Indemnification</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(a)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indemnification of Underwriters</I>. The Company agrees to indemnify and hold harmless each Underwriter and their respective
partners, directors and officers and each person, if any, who controls any Underwriter (collectively, &#8220;<B>Underwriter Indemnified
Parties</B>&#8221;) within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act as follows:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(i)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>against any and all loss, liability, claim, damage and expense whatsoever, as incurred, arising out of any untrue statement
or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereto) or the omission
or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein not
misleading or arising out of any untrue statement or alleged untrue statement of a material fact contained in any preliminary prospectus,
any Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto) or in any &#8220;issuer information&#8221;
(as defined in Rule 433) of the Company that is filed or required to be filed under Rule 433(d) or the omission or alleged omission
therefrom of a material fact necessary in order to make the statements therein, in the light of the circumstances under which they
were made, not misleading;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(ii)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>against any and all loss, liability, claim, damage and expense whatsoever, as incurred, to the extent of the aggregate amount
paid in settlement of any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened,
or of any claim whatsoever based upon any such untrue statement or omission</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">referred to in subsection (i)&nbsp;above or any alleged
untrue statement or omission, if such settlement is effected with the written consent of the Company; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(iii)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>against any and all expense whatsoever, as incurred, reasonably incurred in investigating, preparing or defending against
any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever
based upon any such untrue statement or omission, or any such alleged untrue statement or omission, to the extent that any such
expense is not paid under (i) or (ii) above;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><U>provided</U></FONT>,
<U>however</U>, that this indemnity agreement shall not apply to any loss, liability, claim, damage or expense to the extent arising
out of any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with written
information furnished to the Company by any Underwriter through the Representatives expressly for use in the Registration Statement
(or any amendment thereto) or any preliminary prospectus, any Issuer Free Writing Prospectus or the Prospectus (or any amendment
or supplement thereto) or made in reliance upon the Trustee&#8217;s Statement of Eligibility filed as an exhibit to the Registration
Statement. The Company and the Underwriters hereby acknowledge and agree that the only written information furnished to the Company
by any Underwriter through the Representatives expressly for use in the Registration Statement (or any amendment thereto) or any
preliminary prospectus, any Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto) are the statements
set forth in the (x) first, second and third sentences of the third paragraph, (y) second sentence of the fifth paragraph and (z)
first, second, third, fourth and sixth sentences of the sixth paragraph, in each case under the caption &#8220;Underwriting&#8221;
in the Prospectus&nbsp;(collectively, the &#8220;<B>Underwriter Information</B>&#8221;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(b)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></I>In no case shall the Company be liable under the indemnity agreement set forth in Section 6(a) hereof with respect to
any claim made against any Underwriter Indemnified Party unless such party shall be notified in writing of the nature of the claim
promptly after the assertion thereof, but failure to so notify such party shall not relieve it from any liability which it may
have otherwise than on account of said indemnity agreement. The Company shall be entitled to participate at its own expense in
the defense, or, if the Company so elects, within a reasonable time after receipt of such notice, to assume the defense of any
suit brought to enforce any such claim, but if they so elect to assume the defense, such defense shall be conducted by counsel
chosen by the Company and approved by the Underwriter Indemnified Parties who are party to such suit, which approval shall not
be unreasonably withheld. In the event that the Company elects to assume the defense of any such suit and retain such counsel,
the Underwriter Indemnified Parties who are party to such suit shall bear the fees and expenses of any additional counsel thereafter
retained by them. In the event that the parties to any such action (including impleaded parties) include the Company and one or
more Underwriters and any such Underwriter shall have been advised by counsel chosen by it and satisfactory to the Company, as
the case may be, that there may be one or more legal defenses available to it which are different from or additional to those available
to the Company, the Company shall not have the right to assume the defense of such action on behalf of such Underwriter and the
Company will reimburse, without duplication, such Underwriter Indemnified Parties as aforesaid for the reasonable fees and expenses
of any counsel retained by them, it being understood that the Company shall not, in connection with any one action or separate
but similar or related actions in</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">the same jurisdiction arising out of the same general allegations
or circumstances, be liable for the reasonable fees and expenses of more than one separate firm of attorneys for all such Underwriter
Indemnified Parties, which firm shall be designated by the Representatives in writing. The Company agrees to notify the Representatives
promptly after the assertion of any claim against it, any of its directors, any of its officers who signed the Registration Statement,
or any person who controls the Company within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act, in connection
with the offering and sale of the Securities.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(c)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indemnification of the Company, Directors and Officers</I>. The Underwriters, severally and not jointly, agree to indemnify
and hold harmless the Company, its directors, each of its officers who signed the Registration Statement, and each person, if any,
who controls the Company within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act against any and all loss,
liability, claim, damage and expense described in the indemnity contained in subsection (a) of this Section, as incurred, but only
with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in the Registration Statement (or
any amendment thereto) or any preliminary prospectus, any Issuer Free Writing Prospectus or the Prospectus (or any amendment or
supplement thereto) in reliance upon and in conformity with the Underwriter Information. In case any action shall be brought against
the Company or any person so indemnified based on the Registration Statement (or any amendment thereto) or such preliminary prospectus,
such Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto) and in respect of which indemnity
may be sought against any Underwriter, such Underwriter shall have the rights and duties given to the Company, and the Company
and each person so indemnified shall have the rights and duties given to the Underwriters by the provisions of Section 6(b) hereof.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(d)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></I>The indemnity agreements contained in this Section 6 shall remain operative and in full force and effect, regardless
of any investigation made by or on behalf of the Company or any Underwriter Indemnified Parties, and shall survive the delivery
of the Securities to the Underwriters.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(e)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Settlement</I>. No indemnifying party shall, without the prior written consent of the indemnified parties, settle or compromise
or consent to the entry of any judgment with respect to any litigation, or any investigation or proceeding by any governmental
agency or body, commenced or threatened, or any claim whatsoever in respect of which indemnification or contribution could be sought
under this Section 6 or Section 7 hereof (whether or not the indemnified parties are actual or potential parties thereto), unless
such settlement, compromise or consent (i) includes an unconditional release of each indemnified party from all liability arising
out of such litigation, investigation, proceeding or claim and (ii) does not include a statement as to or an admission of fault,
culpability or a failure to act by or on behalf of any indemnified party.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">SECTION
7.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U>Contribution</U>. In order
to provide for just and equitable contribution in circumstances in which the indemnity agreement provided for in Section 6 is for
any reason held to be unenforceable by the indemnified parties although applicable in accordance with its terms, the Company and
the Underwriters shall contribute to the aggregate losses, liabilities, claims, damages and expenses of the nature contemplated
by said indemnity agreements incurred by the Company and the Underwriters, in such proportions that the Underwriters are responsible
for that</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">portion represented by the percentage that the total underwriting
discount appearing on the cover page of the Prospectus relating to the Securities bears to the aggregate initial public offering
price appearing thereon and the Company is responsible for the balance; <U>provided</U>, <U>however</U>, that (i) no Underwriter
shall be required to contribute any amount in excess of the amount by which the total discount or commission received by such Underwriter
in connection with the offering of the Securities exceeds the amount of any damages which such Underwriter has otherwise been required
to pay by reason of any applicable untrue or alleged untrue statement or omission or alleged omission and (ii) no person guilty
of fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933 Act) shall be entitled to contribution from any
person who was not guilty of such fraudulent misrepresentation. For purposes of this Section, each Underwriter Indemnified Party
shall have the same rights to contribution as the Underwriters, and each director of the Company, each officer of the Company who
signed the Registration Statement, and each person, if any, who controls the Company within the meaning of Section 15 of the 1933
Act or Section 20 of the 1934 Act shall have the same rights to contribution as the Company. The Underwriters&#8217; respective
obligations to contribute pursuant to this Section 7 are several in proportion to their respective underwriting obligations, and
not joint.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">SECTION
8.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U>Representations, Warranties
and Agreements to Survive Delivery</U>. All representations, warranties and agreements contained in this Agreement or in certificates
of officers of the Company or any of its Subsidiaries submitted pursuant hereto or thereto shall remain operative and in full force
and effect, regardless of any investigation made by or on behalf of any Underwriter or controlling person, or by or on behalf of
the Company, and shall survive delivery of and payment for the Securities.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">In all dealings hereunder, the Representatives
shall act on behalf of each of the Underwriters, and the parties hereto shall be entitled to act and rely upon any statement, request,
notice or agreement on behalf of any Underwriter made or given by the Representatives or by the Representatives on behalf of the
Underwriters.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">SECTION
9.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U>Termination</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(a)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></I>The Representatives may terminate this Agreement, by notice to the Company, at any time at or prior to the Closing Time,
(i) if there has been, since the time of execution of this Agreement or since the respective dates as of which information is given
in the Registration Statement, the General Disclosure Package or the Prospectus, any Material Adverse Change, or (ii) if there
has occurred any material adverse change in the financial markets in the United States, any outbreak of hostilities or escalation
thereof or other calamity or crisis or any change or development involving a prospective change in national or international political,
financial or economic conditions, in each case the effect of which is such as to make it, in the judgment of the Underwriters,
impracticable or inadvisable to market the Securities or to enforce contracts for the sale of the Securities, or (iii) if trading
in any securities of the Company has been suspended or materially limited by the Commission or the New York Stock Exchange, or
if trading generally on the NYSE MKT or the New York Stock Exchange or in the Nasdaq Stock Market has been suspended or materially
limited, or minimum or maximum prices for trading have been fixed, or maximum ranges for prices have been required, by any of said
exchanges or by such system or by order of the Commission, FINRA or any other governmental authority, or a material disruption
has occurred in commercial banking or settlement or clearance services in the</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">United States, or (iv) if a banking moratorium has been declared
by either federal or New York authorities or (v) if the rating accorded the Securities or any debt securities or other security
of the Company by any nationally recognized statistical rating organization shall have been decreased or withdrawn or any such
rating organization has publicly announced or given notice of any intended or potential decrease in or withdrawal of any such rating
or of a possible change in any such rating that does not indicate the direction of the possible change.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>(b)</I></FONT><I><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liabilities</I>. If this Agreement is terminated pursuant to this Section 9, such termination shall be without liability
of any party to any other party except as provided in Section 4 hereof, and provided further that Sections 1, 6, 7, 8 and 14 shall
survive such termination and remain in full force and effect.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">SECTION
10.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp; </FONT><U>Default by One or More of the Underwriters</U>.
If one or more of the Underwriters shall fail at the Closing Time to purchase the Securities which it or they are obligated to
purchase hereunder (the unpurchased securities, the &#8220;<B>Defaulted Securities</B>&#8221;), then the Representatives shall
have the right, within 36 hours thereafter, to make arrangements for one or more of the non-defaulting Underwriters, or any other
underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon
the terms herein set forth; if, however, the Representatives shall not have completed such arrangements within such 36-hour period,
then:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD>if the aggregate principal amount of Defaulted Securities does not exceed 10% of the aggregate principal amount of Securities
to be purchased on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full
amount thereof in the proportions that their respective underwriting obligations under this Agreement bear to the underwriting
obligations of all non-defaulting Underwriters; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD>if the aggregate principal amount of Defaulted Securities exceeds 10% of the aggregate principal amount of Securities to be
purchased on such date, this Agreement shall terminate with respect to the Securities without liability on the part of any non-defaulting
Underwriter.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">No action taken pursuant to this Section
10 shall relieve any defaulting Underwriter from liability in respect of its default.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">In the event of any such default which
does not result in a termination of this Agreement, either the Representatives, on the one hand, or the Company, on the other,
shall have the right to postpone the Closing Time for a period not exceeding seven days in order to effect any required changes
in the Registration Statement, the General Disclosure Package or the Prospectus or in any other documents or arrangements.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">SECTION
11.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp; </FONT><U>No Advisory or Fiduciary Relationship</U>. The
Company acknowledges and agrees that (a)&nbsp;the purchase and sale of the Securities pursuant to this Agreement, including the
determination of the public offering price of the Securities and any related discounts and commissions, is an arm&#8217;s-length
commercial transaction among the Company, on the one hand, and the Underwriters, on the other hand, (b) in connection with the
offering contemplated by this</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">Agreement and the process leading to such transaction, each
Underwriter is and has been acting solely as a principal and is not the agent or fiduciary of the Company, or its stockholders,
creditors, employees or any other party, (c) no Underwriter has assumed or will assume an advisory or fiduciary responsibility
in favor of the Company with respect to the offering contemplated hereby or the process leading thereto (irrespective of whether
such Underwriter has advised or is currently advising the Company on other matters) and no Underwriter has any obligation to the
Company with respect to the offering contemplated by this Agreement except the obligations expressly set forth in this Agreement,
(d) the Underwriters and their respective affiliates may be engaged in a broad range of transactions that involve interests that
differ from those of the Company and (e) no Underwriter has provided any legal, accounting, regulatory or tax advice with respect
to the offering contemplated by this Agreement and the Company has consulted its own legal, accounting, regulatory and tax advisors
to the extent it deemed appropriate.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">SECTION
12.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp; </FONT><U>Notices</U>. All notices and other communications
hereunder shall be in writing and shall be deemed to have been duly given if mailed or transmitted by any standard form of telecommunication.
Notices to the Underwriters shall be directed to the Representatives c/o Barclays Capital Inc., 745 Seventh Avenue, New York, New
York 10019, Attention: Syndicate Registration, Telecopy: (636) 834-8133; J.P. Morgan Securities LLC, 383 Madison Avenue, 3<SUP>rd</SUP>
Floor, New York, New York 10179, Attention: Investment Grade Syndicate Desk, Telecopy: (212) 834-6081; Morgan Stanley &amp; Co.
LLC, 1585 Broadway, 29th Floor, New York, New York 10036, Attention: Investment Banking Division, Facsimile 212-507-8999, and notices
to the Company shall be directed to it at 80 Park Plaza, P.O. Box 1171, Newark, New Jersey 07101, attention of Tamara L. Linde,
Esq.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">SECTION
13.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp; </FONT><U>Parties</U>. This Agreement shall inure to the
benefit of and be binding upon the Company and the Underwriters and their respective successors. Nothing expressed or mentioned
in this Agreement is intended or shall be construed to give any person, firm or corporation, other than the Underwriters, the Company
and their respective successors and the controlling persons and officers and directors referred to in Sections 6 and 7 and their
heirs and legal representatives, any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision
herein or therein contained. This Agreement and all conditions and provisions hereof and thereof are intended to be for the sole
and exclusive benefit of the parties hereto and thereto and their respective successors, and said controlling persons and officers
and directors and their heirs and legal representatives, and for the benefit of no other person, firm or corporation. No purchaser
of Securities from any Underwriter shall be deemed to be a successor by reason merely of such purchase.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">SECTION
14.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp; </FONT><U>GOVERNING LAW AND TIME</U>. THIS AGREEMENT SHALL
BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. SPECIFIED TIMES OF DAY REFER TO NEW YORK CITY
TIME.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">SECTION
15.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp; </FONT><U>Patriot Act</U>. In accordance with the requirements
of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), the Underwriters are required to obtain,
verify and record information that identifies their respective clients, including the Company, which information may include the
name and address of their respective clients, as</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">well as other information that will allow the Underwriters
to properly identify their respective clients.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">SECTION
16.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp; </FONT><U>Counterparts</U>. This Agreement may be signed
in one or more counterparts, each of which shall constitute an original and all of which together shall constitute one and the
same agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">SECTION
17.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp; </FONT><U>Effect of Headings</U>. The Article and Section
headings herein are for convenience only and shall not affect the construction hereof.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">If the foregoing is in accordance with
your understanding of our agreement, please sign and return to the Company a counterpart hereof, whereupon this Agreement, along
with all counterparts, will become a binding agreement in accordance with its terms.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding: 0 0 12pt">&nbsp;</TD>
    <TD STYLE="width: 50%; padding: 0 0 12pt"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Very truly yours,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0 0 12pt">&nbsp;</TD>
    <TD STYLE="padding: 0 0 12pt"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Public Service Enterprise Group Incorporated</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding: 0"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">By:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Bradford Huntington&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding: 0 0 0 17pt"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Name: Bradford Huntington</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding: 0 0 0 17pt"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Title: Vice President and Treasurer</FONT></TD></TR>
</TABLE>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Confirmed and accepted as of the<BR>
date first above written:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">BARCLAYS CAPITAL INC.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><BR>
<BR>
<BR>
</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 50%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; padding: 0"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">By: </FONT></TD>
    <TD STYLE="padding: 0 0 0 11pt; border-bottom: Black 1pt solid"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">/s/ Robert Stowe</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding: 0"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Name:&nbsp;&nbsp;Robert Stowe</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding: 0"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Title:&nbsp;&nbsp;Managing Director</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">J.P. MORGAN SECURITIES LLC</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 50%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; padding: 0"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="padding: 0 0 0 11pt; border-bottom: Black 1pt solid"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">/s/ Som Bhattacharyya</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding: 0"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Name:&nbsp;&nbsp;Som Bhattacharyya</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding: 0"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Title:&nbsp;&nbsp;Executive Director</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">MORGAN STANLEY &amp; CO. LLC</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><BR>
<BR>
</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 50%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; padding: 0"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="padding: 0 0 0 11pt; border-bottom: Black 1pt solid"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">/s/ Yurij Slyz</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding: 0"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Name:&nbsp;&nbsp;Yurij Slyz</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding: 0"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Title:&nbsp;&nbsp;Executive Director</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">Acting on behalf of themselves and as representatives<BR>
of the other named Underwriters</P>


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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><B>SCHEDULE
1</B></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>Underwriters and Principal Amount
of Securities </B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 12pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 68%; padding-right: 0.1in; padding-left: 0.1in">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid"><B>Underwriters</B></P></TD>
    <TD STYLE="width: 32%; padding-right: 0.1in; padding-left: 0.1in">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Aggregate
        Principal Amount of the Securities to be Purchased</B></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Barclays Capital Inc.&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.1in; padding-left: 0.1in; text-align: right"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">&#9;$&nbsp;&nbsp;&nbsp;<B>109,900,000</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">J.P. Morgan Securities LLC &#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.1in; padding-left: 0.1in; text-align: right"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><B>109,900,000</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Morgan Stanley &amp; Co. LLC &#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.1in; padding-left: 0.1in; text-align: right"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">&#9;<B>109,900,000</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">CIBC World Markets Corp. &#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.1in; padding-left: 0.1in; text-align: right"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">&#9;<B>84,000,000</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">RBC Capital Markets, LLC&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.1in; padding-left: 0.1in; text-align: right"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">&#9;<B>84,000,000</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">TD Securities (USA) LLC&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.1in; padding-left: 0.1in; text-align: right"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">&#9;<B>84,000,000</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">BNY Mellon Capital Markets, LLC&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.1in; padding-left: 0.1in; text-align: right"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">&#9;<B>33,600,000</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">PNC Capital Markets LLC&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.1in; padding-left: 0.1in; text-align: right"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">&#9;<B>33,600,000</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">U.S. Bancorp Investments, Inc. &#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.1in; padding-left: 0.1in; text-align: right"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">&#9;<B>33,600,000</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Loop Capital Markets LLC&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.1in; padding-left: 0.1in; text-align: right"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><B>17,500,000</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.1in; padding-left: 0.1in; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">&#9;Total&#9;</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: right; padding-bottom: 3pt"><P STYLE="border-bottom: Black 1pt solid; margin-left: 58pt; text-indent: -58pt"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><U>$&nbsp;&nbsp;&nbsp;</U></FONT><U><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>700,000,000</B></FONT></U></p></TD></TR>
</TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 0.25in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Schedule</B></FONT>&nbsp;2-A</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 0.25in; text-align: center"><B>Schedule of Issuer Free Writing
Prospectuses<BR>
included in the General Disclosure Package</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.</TD><TD>The Final Term Sheet attached as Schedule 3 to this Agreement.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 0.25in; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif; text-transform: uppercase"><B>Schedule</B></FONT><B>&nbsp;2-B</B></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 0.25in; text-align: center"><B>Issuer Limited Use Free Writing
Prospectuses </B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">1.</FONT></TD><TD>None.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><B>SCHEDULE 3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><I>Filed Pursuant to Rule 433<BR>
dated November 2, 2017<BR>
Relating to<BR>
Preliminary Prospectus Supplement<BR>
dated November 2, 2017 and<BR>
Prospectus dated November 18, 2014<BR>
Registration Statement No. 333-200352<BR>
<BR>
</I></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><B>Final Term Sheet</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif"><B>$</B></FONT><B>700,000,000</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 20pt Times New Roman, Times, Serif"><B>Public
Service Enterprise Group Incorporated</B></FONT><BR>
<BR>
<B>2.650<FONT STYLE="font-size: 11pt">% Senior Notes due 2022</FONT></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><BR>
November 2, 2017<BR>
<BR>
</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Issuer:</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Public Service Enterprise Group Incorporated</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26%; padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Trade Date:</FONT></TD>
    <TD STYLE="width: 71%; padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">November 2, 2017</FONT></TD>
    <TD STYLE="width: 3%; padding-bottom: 6pt; padding-left: 10.45pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Settlement Date:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">November 6, 2017 (T+2)</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Proceeds to Issuer Before Expenses:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$694,911,000</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Security:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.650% Senior Notes due 2022 (the &#8220;Notes&#8221;)</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Ratings*:</FONT></TD>
    <TD STYLE="padding: 1.8pt 1.8pt 1.8pt 0.15in">&nbsp;</TD>
    <TD STYLE="padding: 1.8pt 1.8pt 1.8pt 0.15in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Security Type:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Senior Unsecured Fixed Rate Notes</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Principal Amount:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$700,000,000</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Maturity Date:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">November 15, 2022</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Coupon:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.650% per annum</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Interest Payment Dates:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The 15th of each May and November, beginning May 15, 2018</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Redemption Provisions:</FONT></TD>
    <TD STYLE="padding: 1.8pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.15in">At any time prior to October 15, 2022 (one month prior
        to the maturity date), at a price equal to the greater of (a) 100% of the principal amount of the Notes being redeemed and (b)
        the sum of the present values of the remaining scheduled payments of principal of and interest on the Notes being redeemed that
        would be due if the Notes matured on October 15, 2022, exclusive of accrued interest to the redemption date, discounted to the
        redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the treasury rate plus 12.5
        basis points (0.125%), plus any accrued and unpaid interest on the principal amount of the Notes being redeemed to,</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.15in">&nbsp;</P></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 0.15in">&nbsp;</TD></TR>
</TABLE>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26%; padding: 1.8pt 5.4pt 6pt 1.8pt">&nbsp;</TD>
    <TD STYLE="width: 71%; padding: 1.8pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.15in">but excluding, the redemption date.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.15in">At any time on or after October 15, 2022, at a price
        equal to 100% of the principal amount of the Notes being redeemed, plus any accrued and unpaid interest on the principal amount
        of the Notes being redeemed to, but excluding, the redemption date.</P></TD>
    <TD STYLE="width: 3%; padding-bottom: 6pt; padding-left: 0.15in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Benchmark Treasury:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.000% due October 31, 2022</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Benchmark Treasury Yield:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.997%</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Re-offer Spread to Benchmark:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">68 basis points</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Re-offer Yield:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.677%</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Price to Public:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.873% of Principal Amount</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">CUSIP / ISIN:</FONT></TD>
    <TD STYLE="padding: 1.8pt 1.8pt 1.8pt 10.45pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">744573AL0 / US744573AL05</FONT></TD>
    <TD STYLE="padding: 1.8pt 1.8pt 1.8pt 10.45pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Joint Book-Running Managers:</FONT></TD>
    <TD STYLE="padding: 1.8pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">Barclays Capital Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">J.P. Morgan Securities LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">Morgan Stanley &amp; Co. LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">CIBC World Markets Corp.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">RBC Capital Markets, LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">TD Securities (USA) LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">&nbsp;</P></TD>
    <TD STYLE="padding: 1.8pt 1.8pt 1.8pt 10.45pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Co-Managers:</FONT></TD>
    <TD STYLE="padding: 1.8pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">BNY Mellon Capital Markets, LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">PNC Capital Markets LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">U.S. Bancorp Investments, Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">Loop Capital Markets LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">&nbsp;</P></TD>
    <TD STYLE="padding: 1.8pt 1.8pt 1.8pt 10.45pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>*&#9;</I></B></FONT>Note:
A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension or withdrawal
at any time. Each credit rating should be evaluated independently of any other credit rating.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>The
Issuer has filed a registration statement (including a prospectus) and a preliminary prospectus supplement with the SEC 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 the other documents the Issuer has filed with the SEC for more complete information about
the Issuer and the offering. You may get these documents for free by visiting EDGAR on the SEC&#8217;s website at www.sec.gov.
Alternatively, any underwriter or any dealer participating in the offering will arrange to send you these documents if you request
them by calling </I></B></FONT><B><I>Barclays Capital Inc. toll-free at 1-888-603-5847, J.P. Morgan Securities LLC collect at 1-212-834-4533
or Morgan Stanley &amp; Co. LLC toll-free at 1-866-718-1649.</I></B></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Exhibit</B></FONT><B>
A</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">FORM OF OPINION OF COUNSEL FOR THE COMPANY<BR>
TO BE DELIVERED PURSUANT TO<BR>
SECTION 5(b)</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">On the basis of the foregoing and of my examination
and consideration of such other legal and factual matters as I have deemed appropriate, I am of the opinion that:</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(i)</FONT></TD><TD>The Company has been duly incorporated and is validly existing as a corporation in good standing under the laws of the State
of New Jersey and has the requisite power and authority to own, lease and operate its properties, to conduct its business as described
in the Registration Statement, the General Disclosure Package (as defined in Annex A hereto), and the Prospectus and to enter into
and perform its obligations under, or as contemplated under, the Underwriting Agreement.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(ii)</FONT></TD><TD>Each Significant Subsidiary has been duly incorporated or organized and is validly existing as a corporation or limited liability
company in good standing under the laws of the jurisdiction of its incorporation or organization, has the requisite power and authority
to own, lease and operate its properties and to conduct its business as described in the Registration Statement, the General Disclosure
Package and the Prospectus.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(iii)</FONT></TD><TD>To the best of my knowledge, the Company and each Significant Subsidiary is duly qualified as a foreign corporation or limited
liability company to transact business and is in good standing in each jurisdiction in which such qualification is required, whether
by reason of the ownership or leasing of property or the conduct of business, except where the failure to so qualify and be in
good standing would not have a material adverse effect on the financial condition, business or properties of the Company and its
Subsidiaries considered as one enterprise.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(iv)</FONT></TD><TD>The authorized, issued and outstanding shares of capital stock of the Company is as set forth in the Company&#8217;s Annual
Report on Form 10-K for the year ended December 31, 2016 and subsequent Quarterly Report on Form 10-Q for the quarter ended September
30, 2017 (except for subsequent issuances thereof, if any, pursuant to reservations, agreements or employee benefit plans referred
to in the Registration Statement, the General Disclosure Package and the Prospectus or pursuant to the exercise of convertible
securities or options referred to in the Registration Statement, the General Disclosure Package and the Prospectus). Such shares
of capital stock have been duly authorized and validly issued by the Company and are fully paid and non-assessable, and none of
such shares of capital stock were issued in violation of preemptive or other similar rights of any security holder of the Company.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(v)</FONT></TD><TD>All of the shares of capital stock or other equity interests of each Significant Subsidiary have been duly and validly authorized
and issued, are fully paid and non-assessable (except in the case of a limited liability company), and are owned directly by the
Company or another Subsidiary, as the case may be, free and clear</TD></TR></TABLE>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in">of all liens, encumbrances, equities or claims. None of
the outstanding shares of capital stock or other equity interests of any Significant Subsidiary were issued in violation of preemptive
or other similar rights of any security holder of such Significant Subsidiary.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(vi)</FONT></TD><TD>The Underwriting Agreement has been duly authorized, executed and delivered by the Company.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(vii)</FONT></TD><TD>The Indenture has been duly authorized, executed and delivered by the Company and (assuming the Indenture has been duly authorized,
executed and delivered by the Trustee) constitutes a valid and legally binding agreement of the Company, enforceable against each
of them in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium
and similar laws affecting creditors&#8217; rights and remedies generally, and subject, as to enforceability, to general principles
of equity, including principles of commercial reasonableness, good faith and fair dealing (regardless of whether enforcement is
sought in a proceeding at law or in equity).</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(viii)</FONT></TD><TD>The Securities have been duly authorized and executed by the Company pursuant to the Underwriting Agreement and, when delivered
pursuant to the provisions of the Underwriting Agreement and the Indenture against the requisite payment therefor (assuming the
due authentication thereof by the Trustee), will constitute valid and legally binding obligations of the Company enforceable against
the Company in accordance with their terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization,
moratorium and similar laws affecting creditors&#8217; rights and remedies generally, and subject, as to enforceability, to general
principles of equity, including principles of commercial reasonableness, good faith and fair dealing (regardless of whether enforcement
is sought in a proceeding at law or in equity). The registered holders of the Securities will be entitled to the benefit of the
Indenture.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(ix)</FONT></TD><TD>The statements in (i) the Registration Statement, the General Disclosure Package and the Prospectus under the captions &#8220;Description
of the Senior Notes&#8221; and &#8220;Description of the Senior and Subordinated Debt Securities,&#8221; (ii) the Company&#8217;s
Annual Report on Form 10-K for the year ended December 31, 2016, under the captions (A) Part I, Item 1. Business &#8211; Regulatory
Issues, (B) Part I, Item 1. Business &#8211; Environmental Matters, and (C) Part I, Item 3. Legal Proceedings and (iii) the Company&#8217;s
Quarterly Report on Form 10-Q for the quarter ended September 30, 2017 under the caption Part II, Item 1. Legal Proceedings and
Part II, Item 5. Other Information, in each case including the information incorporated by reference in such section and insofar
as such statements constitute summaries of the legal matters, documents or proceedings referred to therein, fairly summarize the
matters referred to therein in all material respects.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(x)</FONT></TD><TD>The Indenture has been duly qualified under the Trust Indenture Act of 1939, as amended, and the regulations thereunder (the
&#8220;1939 Act&#8221;).</TD></TR></TABLE>


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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(xi)</FONT></TD><TD>The Registration Statement is effective under the 1933 Act and, to the best of my knowledge, no stop order suspending the effectiveness
of the Registration Statement or the use of any prospectus relating to the Securities has been issued under the 1933 Act or proceedings
therefor initiated or threatened by the SEC or any other governmental agency or authority.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(xii)</FONT></TD><TD>The Registration Statement (except for the financial statements and the related notes thereto, the financial statement schedules
or the financial or accounting data incorporated by reference therein or Exhibits 25-1 and 25-2 thereto, as to which I express
no opinion), as of its most recent effective date pursuant to Rule 430B(f)(2), and the Prospectus (except for the financial statements
and the related notes thereto, the financial statement schedules or the financial or accounting data incorporated by reference
therein, as to which I express no opinion), as of November 2, 2017, appeared on their face to be appropriately responsive, in all
material respects relevant to the offering of the Securities, to the applicable requirements of the 1933 Act;</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(xiii)</FONT></TD><TD>Each document filed pursuant to the Securities Exchange Act of 1934 and the regulations thereunder (the &#8220;1934 Act&#8221;)
and incorporated by reference in the Registration Statement, the General Disclosure Package and the Prospectus appeared on its
face, at the time it was filed, to be appropriately responsive in all material respects with the applicable requirements of the
1934 Act.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(xiv)</FONT></TD><TD>To the best of my knowledge, none of the Company nor any Significant Subsidiary is in violation of its certificate of incorporation
or by-laws or other organizational documents, or in default in the performance or observance of any obligation, agreement, covenant
or condition contained in any material contract, indenture, mortgage, loan agreement, note or lease to which it is a party or by
which it or any its properties may be bound.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(xv)</FONT></TD><TD>The execution and delivery of the Underwriting Agreement, the Indenture and the Securities, and the consummation by the Company
of the transactions contemplated thereby, will not conflict with, violate or constitute a breach of, or default under, or, except
as contemplated thereby, result in the creation or imposition of: (A) any lien, charge or encumbrance upon any property or assets
of the Company or any Significant Subsidiary pursuant to, any contract, indenture, mortgage, loan agreement, note, lease or other
instrument known to me and to which the Company or any Significant Subsidiary is a party or by which it may be bound or to which
any of the property or assets of the Company or any Significant Subsidiary is subject; (B) any law, administrative regulation or
administrative or court decree known to me to be applicable to the Company or any Significant Subsidiary of any court or governmental
agency, authority or body or any arbitrator having jurisdiction over the Company or any Significant Subsidiary (other than federal
and state securities or blue sky laws, as to which I express no opinion in this paragraph), or (C) the</TD></TR></TABLE>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in">certificate of incorporation or by-laws or other organizational
documents of the Company or any Significant Subsidiary.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(xvi)</FONT></TD><TD>No consent, approval, waiver, license or authorization or other action by or filing with any New York, New Jersey or federal
governmental authority is required in connection with the execution and delivery by the Company of the Underwriting Agreement,
the Indenture and the Securities, the consummation by the Company of the transactions contemplated thereby or the performance by
the Company of its obligations thereunder, except for filings and other actions required pursuant to the 1933 Act and/or the 1934
Act and the rules and regulations thereunder and federal and state securities or blue sky laws, as to which I express no opinion
in this paragraph.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(xvii)</FONT></TD><TD>To the best of my knowledge, except as disclosed in the Registration Statement, the General Disclosure Package and the Prospectus,
there is not pending or threatened any action, suit, proceeding, inquiry or investigation to which the Company or any Subsidiary
is a party or to which the assets, properties or operations of the Company or any Subsidiary is subject, before or by any court
or governmental agency or body, domestic or foreign, which might reasonably be expected to result in a Material Adverse Change
or which might reasonably be expected to materially and adversely affect the assets, properties or operations thereof or the consummation
of the transactions contemplated under the Underwriting Agreement, the Securities or the Indenture or the performance by the Company
of its obligations thereunder.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(xviii)</FONT></TD><TD>The Company is not, and immediately after giving effect to the sale of the Securities and the application of the proceeds thereof
as described in the Prospectus will not be, an &#8220;investment company&#8221; under the Investment Company Act of 1940, as amended.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(xix)</FONT></TD><TD>The Securities, upon issuance, will be excluded or exempted under, or beyond the purview of, the Commodity Exchange Act and
the Commodity Exchange Act Regulations.</TD></TR></TABLE>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">I have generally reviewed the Registration Statement,
the General Disclosure Package and the Prospectus and discussed the information therein with certain officers and employees of
the Company, but without independent check or verification except as indicated above, and no facts have come to my attention that
would lead me to believe that:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(1)</FONT></TD><TD>the Registration Statement, at the time it originally became effective under the 1933 Act or as of each &#8220;new effective
date&#8221; with respect to the Securities and the Underwriters pursuant to, and within the meaning of, Rule 430B(f)(2) under the
1933 Act, contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or
necessary to make the statements therein not misleading;</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(2)</FONT></TD><TD>the General Disclosure Package, as of 3:15 p.m. (Eastern Time) on November 2,</TD></TR></TABLE>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in">2017, contained an untrue statement of a material fact or
omitted to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which
they were made, not misleading; or</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(3)</FONT></TD><TD>the Prospectus, as of the date of the Prospectus Supplement or as of the date hereof, included or includes an untrue statement
of a material fact or omitted or omits to state a material fact necessary in order to make the statements therein, in the light
of the circumstances under which they were made, not misleading.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&nbsp;</P>

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<DESCRIPTION>FORM OF NOTE
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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>Exhibit 4-2</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">1</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">GLOBAL NOTE</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (THE &quot;DEPOSITORY&quot;) TO PUBLIC SERVICE
ENTERPRISE GROUP INCORPORATED OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND SUCH CERTIFICATE ISSUED IS REGISTERED
IN THE NAME OF CEDE &amp; CO., OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY, ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, SINCE THE REGISTERED OWNER HEREOF, CEDE &amp;
CO., HAS AN INTEREST HEREIN.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">UNLESS AND UNTIL THIS CERTIFICATE IS EXCHANGED
IN WHOLE OR IN PART FOR NOTES IN CERTIFICATED FORM, THIS CERTIFICATE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY
TO A NOMINEE THEREOF OR BY A NOMINEE THEREOF TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY OR BY THE DEPOSITORY OR ANY
SUCH NOMINEE TO A SUCCESSOR OF THE DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding: 0; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">CUSIP NO. 744573 AL0</FONT></TD>
    <TD STYLE="width: 50%; padding: 0; font: 11pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">No. R-01</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">2.650% Senior Note due 2022</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">GLOBAL NOTE</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">PUBLIC SERVICE ENTERPRISE
GROUP INCORPORATED, a New Jersey corporation (herein referred to as the &quot;Company,&quot; which term includes any successor
corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede &amp; Co., or registered
assigns, the principal sum of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
on November 15, 2022 (the &quot;Stated Maturity Date&quot;), unless redeemed in accordance with the provisions of this Global Note,
and to pay interest on the outstanding principal amount of this Global Note from November 6, 2017, semi-annually in arrears on
May 15 and November 15 of each year, beginning on May 15, 2018 (each, an &quot;Interest Payment Date&quot;) at 2.650% per annum
until the principal hereof is paid or duly provided for. Interest payable on each Interest Payment Date will include interest accrued
from and including November 6, 2017 or from and including the most recent Interest Payment Date to which interest has been paid
or duly provided for, as the case may be, to, but excluding, such Interest Payment Date. Interest will be computed based on a 360-day
year consisting of twelve 30&#45;day months.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">The interest so payable,
and punctually paid or duly provided for, on any Interest Payment Date will, except as provided below, be paid to the person (the
&quot;Holder&quot;) in whose name this Global Note (or one or more Predecessor Securities) is registered at the close of business
on the fifteenth day (whether or not a Business Day (as defined below)) immediately preceding the applicable Interest Payment Date
(a &quot;Regular Record Date&quot;). Any such interest not so punctually paid or duly provided for (&quot;Defaulted Interest&quot;)
will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the person in whose name
this Global Note (or one or more Predecessor Securities) is registered at the close of business on a special record date (the &quot;Special
Record Date&quot;) for the payment of such Defaulted Interest to be fixed by the Trustee hereinafter referred to, notice whereof
shall be</P>


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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">given to the Holder of this Global Note not
less than ten days prior to such Special Record Date, or may be paid at any time in any other lawful manner, all as more fully
provided in the Indenture.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">For purposes of this Global
Note, &quot;Business Day&quot; means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions
in Newark, New Jersey and The City of New York are authorized or obligated by law or executive order to close.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">Payments of principal, premium,
if any, and interest with respect to this Global Note will be made in such coin or currency of the United States of America as
at the time of payment is legal tender for the payment of public and private debts. Payment of the principal of and any premium
on this Global Note on the Stated Maturity Date or date of earlier redemption will be made in immediately available funds against
presentation of this Global Note at the office or agency of the Company maintained for that purpose in the Borough of Manhattan,
The City of New York. Payments of interest on an Interest Payment Date will be made, at the option of the Company, by check mailed
to the Holder entitled thereto at the applicable address appearing in the Security Register or by transfer of immediately available
funds to an account maintained by the payee with a bank located in the United States of America; provided, however, that so long
as Cede &amp; Co. is the Holder of this Global Note, payments of interest on an Interest Payment Date will be made in immediately
available funds.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">Any payment of principal,
premium or interest required to be made with respect to this Global Note on a day that is not a Business Day need not be made on
such day, but may be made on the next succeeding Business Day with the same force and effect as if made on such day and no additional
interest shall be payable on the next succeeding Business Day as a result of such delayed payment.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif"><B>General</B>.
This Global Note is one of the duly authorized series of securities of the Company (the &quot;Securities&quot;), issued or to be
issued under the Indenture, dated as of November 1, 1998 (together with all amendments and supplements thereto, the &quot;Indenture&quot;),
between the Company and U.S. Bank National Association, as successor trustee (the &quot;Trustee&quot;), to which Indenture reference
is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company,
the Trustee and each of the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated
and delivered and transferred. This Global Note is one of the duly authorized series of Securities designated as the &#8220;2.650%
Senior Notes due 2022&#8221; (collectively, the &#8220;Notes&#8221;).</FONT><FONT STYLE="font-size: 10pt"> </FONT><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">The
Notes will be limited to $700,000,000 aggregate principal amount, except as permitted in the Indenture, and will be subject, without
the consent of the Holders of any series of Securities under the Indenture, to the issuance of additional Notes in the future having
the same terms, other than the date of original issuance and the date on which interest begins to accrue, so as to form one series
with the Notes. All terms used in this Global Note, which are not defined herein shall have the meanings given to them in the Indenture.
</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Events of Default</B>.
If an Event of Default with respect to the Notes shall have occurred and be continuing, the principal of the Notes may be declared
due and payable in the manner and with the effect provided in the Indenture.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">As used in this Global Note
and the Indenture, the term &#8220;Event of Default&#8221; wherever used with respect to the Notes means any&nbsp;one of the events
described under Article Five, Section 501 of the Indenture or the following event:</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">an event of default shall have occurred
and be continuing with respect to indebtedness for borrowed money of the Company in excess of $75,000,000 and such event of default
shall have been accelerated, and such acceleration shall not be rescinded or annulled within ten days after written notice thereof
shall have been given to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate
principal amount of the Notes then Outstanding; <I>provided</I>, <I>however</I>, that if such event of default with respect to
such other indebtedness shall be remedied or cured by the Company, or waived by the holders of such other indebtedness, then the
Event of Default hereunder by reason thereof shall be deemed likewise to have been thereupon remedied, cured or waived without
further action upon the part of either the Trustee or any of the Holders of the Notes; and&nbsp;<I>provided,</I> <I>further</I>,&nbsp;that,
subject to the provisions of Section 601 of the Indenture, the Trustee shall not be charged with knowledge of any such event of
default or any remedy, cure or waiver thereof or any such acceleration unless written notice thereof shall have been given to the
Trustee by the Company, by a holder or an agent of such other indebtedness or by the Trustee then acting under this Indenture with
respect to such other series of Securities or under any other indenture or instrument, as the case may be, under which such event
of default shall have occurred, or by the Holders of at least twenty-five percent in aggregate principal amount of the Notes at
the time Outstanding;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">in each case whatever the reason for such Event
of Default and whether or not it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment,
decree or order of any court or any order, rule or regulation of any administrative or governmental body.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Sinking Fund</B>. This
Global Note will not be entitled to the benefit of, or be subject to, any sinking fund.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Optional Redemption</B>.
This Global Note (or portion hereof) will be redeemable at the option of the Company, in whole or in part at any time prior to
October 15, 2022, on at least 10 days but not more than 60 days prior written notice mailed to the Holder hereof, at a price (the
&quot;Make-Whole Redemption Price&quot;) equal to the greater of (i) 100% of the principal amount of this Global Note (or portion
hereof) to be redeemed, and (ii) the sum of the present values of the remaining scheduled payments of principal of and interest
on this Global Note (or portion hereof) to be redeemed that would be due if this Global Note matured on October 15, 2022, exclusive
of accrued interest to the date of redemption (each, a &#8220;Make-Whole Redemption Date&#8221;), discounted to such Make-Whole
Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined
below) plus 12.5 basis points, plus, in either case, any accrued and unpaid interest thereon to, but excluding, such Make-Whole
Redemption Date.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">This Global Note (or a portion
thereof) will be redeemable at the option of the Company, in whole or in part, at any time on or after October 15, 2022, on at
least 10 days but not more than 60 days prior written notice mailed to the Holder hereof, at a price (the &#8220;Par Redemption
Price&#8221;) equal to 100% of the principal amount of this Global Note (or portion hereof) to be redeemed, plus any accrued and
unpaid interest thereon to, but excluding, the date of redemption (each, a &#8220;Par Redemption Date&#8221;).</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">If money sufficient to pay
the Make-Whole Redemption Price of this Global Note (or portion hereof) to be redeemed on a Make-Whole Redemption Date is deposited
with the Trustee or a Paying Agent on or before such Make-Whole Redemption Date and certain other</P>


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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">conditions are satisfied, then on and after
such Make-Whole Redemption Date, interest will cease to accrue on this Global Note (or such portion hereof) called for redemption.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">If money sufficient to pay
the Par Redemption Price of this Global Note (or portion hereof) to be redeemed on a Par Redemption Date is deposited with the
Trustee or a Paying Agent on or before such Par Redemption Date and certain other conditions are satisfied, then on and after such
Par Redemption Date, interest will cease to accrue on this Global Note (or such portion hereof) called for redemption.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">For purposes of the foregoing,
the following definitions apply:</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&quot;Comparable Treasury
Issue&quot; means, with respect to any Make-Whole Redemption Date for this Global Note (or portion hereof) to be redeemed, the
United States Treasury security selected by the Independent Investment Banker (as defined below) as having the maturity comparable
to the remaining term of this Global Note (or portion hereof) to be redeemed (assuming that this Global Note matured on October
15, 2022) 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 this Global Note (or portion hereof) to be
redeemed.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&quot;Comparable Treasury
Price&quot; means, with respect to any Make-Whole Redemption Date for this Global Note (or portion hereof) to be redeemed, (a)
the average of three Reference Treasury Dealer Quotations (as defined below) for the Make-Whole Redemption Date for this Global
Note (or portion hereof) to be redeemed, after excluding the highest and lowest of five Reference Treasury Dealer Quotations, or,
(b) if the Independent Investment Banker obtains fewer than five Reference Treasury Dealer Quotations, the average of all Reference
Treasury Dealer Quotations obtained.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&quot;Independent Investment
Banker&quot; means one of the Reference Treasury Dealers appointed by the Company after consultation with the Trustee.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&quot;Reference Treasury
Dealer&quot; means each of Barclays Capital Inc., J.P. Morgan Securities LLC, Morgan Stanley &amp; Co. LLC, RBC Capital Markets,
LLC and TD Securities (USA) LLC, and their respective affiliates or successors, <I>provided</I> that if any of the foregoing shall
cease to be a primary U.S. government securities dealer in the United States (a &#8220;Primary Treasury Dealer&#8221;), the Company
will substitute therefor another Primary Treasury Dealer.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&quot;Reference Treasury
Dealer Quotations&quot; means, with respect to each Reference Treasury Dealer and any Make-Whole Redemption Date, the average,
as determined by the Independent Investment Banker, 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 Independent Investment Banker by such Reference Treasury
Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Make-Whole Redemption Date.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&quot;Treasury Rate&quot;
means, with respect to any Make-Whole Redemption Date, the rate per annum equal to the semi-annual 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 Make-Whole Redemption Date. The Treasury Rate will be calculated by the
Company on the third Business Day preceding the Make-Whole Redemption Date. The Trustee shall not be responsible for any such calculation.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Reports</B>. So long
as this Global Note remains Outstanding, the Company will file with the Trustee, within 30 days of filing them with the Securities
and Exchange Commission (the &quot;SEC&quot;), copies of the current, quarterly and annual reports and of the information, documents
and other reports (or copies of such portions of any of the foregoing as the SEC may by rules and regulations prescribe) that the
Company is required to file with the SEC pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 (the &#8220;Exchange
Act&#8221;). If the Company is not subject to the requirements of Section 13 or Section 15(d) of the Exchange Act and this Global
Note remains Outstanding, the Company must nevertheless file with the SEC (if permitted) and the Trustee, on the date upon which
the Company would have been required to file with the SEC, current, quarterly and annual financial statements, including any notes
thereto (and with respect to annual reports, an auditor's report by a firm of established national reputation, upon which the Trustee
may conclusively rely), and a &quot;Management's Discussion and Analysis of Financial Condition and Results of Operations,&quot;
both comparable to that which the Company would have been required to include in such current, quarterly and annual reports, information,
documents or other reports on Forms 8-K, 10-Q and 10-K if the Company was subject to the requirements of Section 13 or 15(d) of
the Exchange Act; provided that the Company will not be required to register under the Exchange Act by virtue of this provision,
if not otherwise required to do so.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Modification and Waivers;
Obligations of the Company Absolute</B>. The Indenture permits, with certain exceptions as therein provided, the amendment thereof
and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series.
Such amendment may be effected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of
a majority in aggregate principal amount of all Securities issued under the Indenture at the time Outstanding and affected thereby.
The Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of the Securities of
each series at the time Outstanding, on behalf of the Holders of all Outstanding Securities of such series, to waive compliance
by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any
such consent or waiver shall be conclusive and binding upon the Holder of this Global Note and upon all future Holders of this
Global Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or
not notation of such consent or waiver is made upon this Note.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">No reference herein to the
Indenture and no provision of this Global Note or of the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal, premium, if any, and interest with respect to this Global Note at the times,
place and rate, and in the coin or currency herein prescribed.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Defeasance</B>. The Indenture
contains provisions for defeasance at any time of the entire indebtedness of the Company on this Global Note, upon compliance by
the Company with certain conditions set forth in the Indenture, which provisions apply to this Global Note.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Authorized Denominations</B>.
The Notes are issuable only in registered form without coupons in minimum denominations of $2,000 and integral multiples of $1,000
in excess thereof.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Registration of Transfer
or Exchange of this Global Note</B>. As provided in the Indenture and subject to certain limitations herein and therein set forth,
the transfer of this Global Note is registrable in the Security Register upon surrender of this Global Note for registration of
transfer at the office or agency of the Company in any place where the principal</P>


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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">of (and premium, if any) and interest on this
Global Note are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company
and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or
more new Global Notes of this series of like tenor, of authorized denominations and for the same aggregate principal amount, will
be issued to the designated transferee or transferees.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">As provided in the Indenture
and subject to certain limitations herein and therein set forth, the Global Notes are exchangeable for a like aggregate principal
amount of Global Notes of different authorized denominations, as requested by the Holders surrendering the same.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">This Global Note is a &#8220;Security
in global form&#8221; within the meaning of the Indenture. If The Depository Trust Company is at any time unwilling, unable or
ineligible to continue as depository and a successor depository is not appointed by the Company within 90 days or an Event of Default
under the Indenture has occurred and is continuing, the Company will issue Notes in certificated form in exchange for this Global
Note. In addition, the Company may at any time determine not to have Notes represented by one or more Securities in global form
and, in such event, will issue Notes in certificated form in exchange in whole for this Global Note. In any such instance, an owner
of a beneficial interest in this Global Note will receive Notes in certificated form equal in principal amount to such beneficial
interest and to have such Notes registered in its name. Notes so issued in certificated form will be issued in denominations of
$2,000 and integral multiples of $1,000 in excess thereof and will be issued in registered form only, without coupons.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">No service charge shall
be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">Prior to due presentment
of this Global Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat
the Holder of this Global Note as the owner hereof for all purposes, whether or not this Global Note be overdue, and neither the
Company, the Trustee nor any such agent shall be affected by notice to the contrary.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Governing Law</B>. This
Global Note shall be governed by and construed in accordance with the law of the State of New Jersey.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">Unless the certificate of
authentication hereon has been executed by the Trustee by manual signature, this Global Note shall not be entitled to any benefit
under the Indenture or be valid or obligatory for any purpose.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the
Company has caused this instrument to be duly executed under its facsimile corporate seal.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 50%; text-align: justify">&#9;PUBLIC SERVICE ENTERPRISE GROUP</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 50%; text-align: justify">&#9;INCORPORATED</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Dated: November 6, 2017</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">By:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: justify; border-bottom: Black 1pt solid"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: justify"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">Vice President and Treasurer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">Attest:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: justify; border-bottom: Black 1pt solid"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: justify"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">Secretary </FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">TRUSTEE'S CERTIFICATE OF AUTHENTICATION</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">This is one of the Securities
of the series designated therein referred to in the within-mentioned Indenture.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 50%; text-align: justify; text-indent: 0">&#9;U.S. BANK
NATIONAL ASSOCIATION,</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 50%; text-align: justify; text-indent: 0">&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;as Trustee</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Dated: November 6, 2017</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">By:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-align: justify"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">Authorized Signatory </FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">ASSIGNMENT FORM</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">To assign this Security, fill in the form below:</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">I or we assign and transfer
this Security to</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">(Insert assignee's soc. sec. or tax I.D. No.)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">(Print or type assignee's name, address and zip
code)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">and irrevocably appoint ______________________
agent to transfer this Security on the books of the Company. The agent may substitute another to act for him.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; padding: 0; text-align: justify"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">Dated:</FONT></TD>
    <TD STYLE="padding: 0; text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 3%; padding: 0 0 0 12pt; text-align: justify"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">Signed</FONT></TD>
    <TD STYLE="padding: 0; text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 57%; padding: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">(Sign exactly as your name appears on the <BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;other side of this Security) </FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 3%; padding: 0"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">Signature Guarantee:</FONT></TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; padding: 0; text-align: justify"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">Dated:</FONT></TD>
    <TD STYLE="padding: 0; text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 3%; padding: 0 0 0 12pt; text-align: justify"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">Signed</FONT></TD>
    <TD STYLE="padding: 0; text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 57%; padding: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">(Sign exactly as your name appears on the<BR>
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;other side of this Security) </FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 3%; padding: 0"><FONT STYLE="font: 11pt Arial, Helvetica, Sans-Serif">Signature Guarantee:</FONT></TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-5
<SEQUENCE>4
<FILENAME>e76401ex5.htm
<DESCRIPTION>OPINION
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
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<BODY>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: right"><B>Exhibit 5</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: bold 8pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 8pt">Shawn P. Leyden</FONT></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 8pt">Vice President &amp; Deputy
        General Counsel</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: bold 8pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 8pt">PSEG Services Corporation</FONT></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 8pt">80 Park Plaza, T19, Newark,
        NJ 07102-4194</FONT></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 8pt">tel: 973.430.7698 fax: 973.643.8385</FONT></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 8pt">email: shawn.leyden@pseg.com</FONT></P></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 59px; width: 176px"></FONT></TD></TR>
<TR>
    <TD STYLE="width: 31%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 31%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 33%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.25in 0 24pt 3in">November 6, 2017</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Public Service Enterprise Group Incorporated</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">80 Park Plaza</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">P.O. Box 1171</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">Newark, NJ 07102</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%; padding: 0 20pt 0 0; font: 12pt Times New Roman, Times, Serif; text-align: right">Re:</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0">Public Service Enterprise Group Incorporated</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0; text-align: right">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0; text-decoration: underline"><U>Registration Statement on Form S-3 (No. 333-200352)</U></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">This opinion is furnished in connection
with the issuance and sale by Public Service Enterprise Group Incorporated (the &#8220;Company&#8221;) of $700,000,000 aggregate
principal amount of its 2.650% Senior Notes due 2022 (the &#8220;Notes&#8221;) pursuant to (i) the Company&#8217;s Registration
Statement on Form S-3, Registration No. 333-200352 (the &#8220;Registration Statement&#8221;); (ii) the base prospectus constituting
a part of the Registration Statement, dated November 18, 2014 (the &#8220;Base Prospectus&#8221;), relating to the offering from
time to time of certain debt securities of the Company, among other securities, pursuant to Rule 415 promulgated under the Securities
Act of 1933, as amended (the &#8220;Act&#8221;); and (iii) the prospectus supplement, dated November 2, 2017 (the &#8220;Prospectus
Supplement&#8221; and together with the Base Prospectus, the &#8220;Prospectus&#8221;). The Notes were issued under the Indenture,
dated as of November 1, 1998 (as amended and supplemented to the date hereof, the &#8220;Indenture&#8221;), between the Company
and U.S. Bank National Association, as trustee (the &#8220;Trustee&#8221;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">I have examined the Registration Statement,
the Prospectus, the Indenture, the global certificates representing the Notes and such other agreements, instruments, documents
and records and such certificates or comparable documents of public officials which I deemed relevant and necessary for the basis
of the opinion hereinafter expressed. In such examination, I have assumed the following: (a) the authenticity of original documents
and the genuineness of all signatures; (b) the conformity to the originals of all documents submitted to me as copies; and (c)
the truth, accuracy, and completeness of the information, representations, and warranties contained in the records, documents,
instruments, and certificates I have reviewed.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Based on such examination, I am of the
opinion that the Notes, assuming the due authentication thereof by the Trustee pursuant to the Indenture, constitute valid and
binding obligations of the Company, enforceable against the Company in accordance with their terms, subject to applicable bankruptcy,
insolvency, fraudulent conveyance, reorganization, moratorium</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">and similar laws affecting creditors&#8217; rights and remedies
generally and to general principles of equity, including principles of commercial reasonableness, good faith and fair dealing (regardless
of whether enforcement is sought in a proceeding at law or in equity).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The foregoing opinion is given as of
the date hereof and is limited to matters arising under laws of the State of New Jersey as in effect on the date hereof and I express
no opinion as to the effect on the matters covered by this letter of the laws of any other jurisdiction. I hereby consent to the
incorporation by reference of this letter as an exhibit to the Registration Statement and to the use of my name wherever it appears
in the Registration Statement. In giving such consent, I do not thereby admit that I am within the category of persons whose consent
is required by Section 7 of the Act or the related rules and regulations of the Securities and Exchange Commission issued thereunder
with respect to any part of the Registration Statement, including this letter as an exhibit or otherwise.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 50%; text-indent: 0">Very truly yours,</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 50%; text-indent: 0">/s/ Shawn P. Leyden</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 50%; text-indent: 0">Shawn P. Leyden<BR>
Vice President and Deputy General Counsel<BR>
PSEG Services Corporation</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 50%"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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