<SEC-DOCUMENT>0001104659-22-037532.txt : 20220324
<SEC-HEADER>0001104659-22-037532.hdr.sgml : 20220324
<ACCEPTANCE-DATETIME>20220324164212
ACCESSION NUMBER:		0001104659-22-037532
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220324
DATE AS OF CHANGE:		20220324

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			YUM BRANDS INC
		CENTRAL INDEX KEY:			0001041061
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		IRS NUMBER:				133951308
		STATE OF INCORPORATION:			NC
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-248288
		FILM NUMBER:		22767030

	BUSINESS ADDRESS:	
		STREET 1:		1441 GARDINER LANE
		CITY:			LOUISVILLE
		STATE:			KY
		ZIP:			40213
		BUSINESS PHONE:		5028748300

	MAIL ADDRESS:	
		STREET 1:		1900 COLONEL SANDERS LANE
		CITY:			LOUISVILLE
		STATE:			KY
		ZIP:			40213

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TRICON GLOBAL RESTAURANTS INC
		DATE OF NAME CHANGE:	19970627

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GREAT AMERICAN RESTAURANT CO
		DATE OF NAME CHANGE:	19970618

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			YUM BRANDS INC
		CENTRAL INDEX KEY:			0001041061
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		IRS NUMBER:				133951308
		STATE OF INCORPORATION:			NC
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		1441 GARDINER LANE
		CITY:			LOUISVILLE
		STATE:			KY
		ZIP:			40213
		BUSINESS PHONE:		5028748300

	MAIL ADDRESS:	
		STREET 1:		1900 COLONEL SANDERS LANE
		CITY:			LOUISVILLE
		STATE:			KY
		ZIP:			40213

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TRICON GLOBAL RESTAURANTS INC
		DATE OF NAME CHANGE:	19970627

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GREAT AMERICAN RESTAURANT CO
		DATE OF NAME CHANGE:	19970618
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>tm228169d4_fwp.htm
<DESCRIPTION>FWP
<TEXT>
<HTML>
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     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right">Filed Pursuant to Rule&nbsp;433</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right">Registration Statement No.&nbsp;333-248288</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>Pricing Term Sheet</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>YUM! Brands,&nbsp;Inc.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>$1,000,000,000 5.375% Senior Notes due 2032</B>&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 26%; padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Issuer:</B></FONT></TD>
    <TD STYLE="width: 74%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">YUM! Brands,&nbsp;Inc. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Title of Securities:</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5.375% Senior Notes due 2032 (the &ldquo;Notes&rdquo;)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Aggregate Principal<BR>
Amount Offered:</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><BR>
$1,000,000,000</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Maturity Date:</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">April&nbsp;1, 2032</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Issue Price:</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">100.000%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Underwriting Discount:</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">1.000%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Coupon:</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5.375%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Yield to Maturity:</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5.375%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Interest Payment Dates:</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">April&nbsp;1 and October&nbsp;1 of each year, commencing on October&nbsp;1, 2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Record Dates:</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">March&nbsp;15 and September&nbsp;15 of each year</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Trade Date:</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">March&nbsp;24, 2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Settlement Date:</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">April&nbsp;1, 2022 (T+6)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Make-Whole<BR>
Redemption:</B>&nbsp;</P></TD>
    <TD><P STYLE="margin-top: 0; margin-bottom: 0">Prior to April&nbsp;1, 2027, at a make-whole premium based on the applicable treasury rate plus 50 basis points, plus accrued and unpaid interest, if any, to the redemption date.</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">On or after April&nbsp;1, 2027, the Notes will be redeemable in whole at any time
or in part from time to time, at the Company&rsquo;s option, at a redemption price equal to the percentage of the principal amount of
such Notes set forth below plus accrued and unpaid interest, if any, to the redemption date, if redeemed during the twelve-month period
beginning on April&nbsp;1 of the year indicated below:&nbsp;</P></TD></TR>
</TABLE>

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

<P STYLE="margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
<TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center">
  <TH STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 4pt; padding-left: 0.5in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TH>
    <TH STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 4pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Year</FONT></TH>
    <TH STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 4pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Percentage</FONT></TH></TR>
<TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center">
  <TH STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 4pt; padding-left: 0.5in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TH>
    <TH STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 4pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2027</FONT></TH>
    <TH STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 4pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">102.688%</FONT></TH></TR>
<TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center">
  <TH STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 4pt; padding-left: 0.5in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TH>
    <TH STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 4pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2028</FONT></TH>
    <TH STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 4pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">101.792%</FONT></TH></TR>
<TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center">
  <TH STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 4pt; padding-left: 0.5in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TH>
    <TH STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 4pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2029</FONT></TH>
    <TH STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 4pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">100.896%</FONT></TH></TR>
<TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 4pt; padding-left: 0.5in; text-align: left; width: 26%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 4pt; text-align: left; width: 25%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2030
    and thereafter</FONT></TD>
    <TD STYLE="border: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 4pt; text-align: left; width: 49%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">100.000%</FONT></TD></TR>
</TABLE>

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

<P STYLE="margin: 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; width: 26%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Change of Control<BR>
Triggering Event:</B></FONT></TD>
    <TD STYLE="width: 74%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><BR>
101% plus accrued and unpaid interest, if any</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Denominations:</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$2,000 and in integral multiples of $1,000 in excess thereof</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>CUSIP/ISIN:</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">988498 AR2 / US988498AR20</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Joint Book-Running<BR>
Managers:</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><BR>
BofA Securities,&nbsp;Inc.; Citigroup Global Markets Inc.; Goldman Sachs&nbsp;&amp; Co. LLC; J.P. Morgan Securities LLC; Wells Fargo Securities, LLC; Fifth Third Securities,&nbsp;Inc.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Senior Co-Managers:</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Barclays Capital Inc.; Capital One Securities,&nbsp;Inc.; ING Financial Markets LLC; MUFG Securities Americas Inc.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Co-Managers:</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">BNP Paribas Securities Corp.; HSBC Securities (USA) Inc.; Huntington Securities,&nbsp;Inc.; ICBC Standard Bank Plc; PNC Capital Markets LLC; Rabo Securities USA,&nbsp;Inc.; Scotia Capital (USA) Inc.; U.S. Bancorp Investments,&nbsp;Inc.; Siebert Williams Shank&nbsp;&amp; Co., LLC</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>The issuer expects that delivery of the Notes will be made against
payment thereof on the sixth business day following the date of the pricing of the Notes. Pursuant to Rule&nbsp;15c6-1 under the Securities
Exchange Act of 1934, trades in the secondary market generally are required to settle in two business days, unless the parties to any
such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the Notes on the date of pricing or the next three succeeding
business days will be required, by virtue of the fact that the Notes initially will settle in T+6, to specify alternative settlement arrangements
to prevent a failed settlement.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>The issuer has filed a registration statement (including a prospectus)
with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration
statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You
may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, you may obtain a copy of the prospectus
by calling BofA Securities,&nbsp;Inc. toll-free at (800) 294-1322.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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