<SEC-DOCUMENT>0001140361-25-013780.txt : 20250414
<SEC-HEADER>0001140361-25-013780.hdr.sgml : 20250414
<ACCEPTANCE-DATETIME>20250414163515
ACCESSION NUMBER:		0001140361-25-013780
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250414
DATE AS OF CHANGE:		20250414

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HP INC
		CENTRAL INDEX KEY:			0000047217
		STANDARD INDUSTRIAL CLASSIFICATION:	COMPUTER & OFFICE EQUIPMENT [3570]
		ORGANIZATION NAME:           	06 Technology
		EIN:				941081436
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-277493
		FILM NUMBER:		25836430

	BUSINESS ADDRESS:	
		STREET 1:		1501 PAGE MILL ROAD
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94304
		BUSINESS PHONE:		6508571501

	MAIL ADDRESS:	
		STREET 1:		1501 PAGE MILL ROAD
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94304

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HEWLETT PACKARD CO
		DATE OF NAME CHANGE:	19920703

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HP INC
		CENTRAL INDEX KEY:			0000047217
		STANDARD INDUSTRIAL CLASSIFICATION:	COMPUTER & OFFICE EQUIPMENT [3570]
		ORGANIZATION NAME:           	06 Technology
		EIN:				941081436
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		1501 PAGE MILL ROAD
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94304
		BUSINESS PHONE:		6508571501

	MAIL ADDRESS:	
		STREET 1:		1501 PAGE MILL ROAD
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94304

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HEWLETT PACKARD CO
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>ny20045886x5_fwp.htm
<DESCRIPTION>FWP
<TEXT>
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      <hr style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
    <div style="text-align: right; margin-left: 140.4pt; margin-top: 0.5pt; font-family: 'Times New Roman',Times,serif;">Filed Pursuant to Rule 433</div>
    <div style="text-align: right; margin-left: 140.4pt; margin-top: 0.5pt; font-family: 'Times New Roman',Times,serif;">Issuer Free Writing Prospectus dated April 14, 2025</div>
    <div style="text-align: right; margin-left: 72pt; margin-top: 0.5pt; font-family: 'Times New Roman',Times,serif;">Relating to Preliminary Prospectus Supplement dated April 14, 2025</div>
    <div style="text-align: right; margin-left: 140.4pt; margin-top: 0.5pt; font-family: 'Times New Roman',Times,serif;">to Prospectus dated February 28, 2024</div>
    <div style="text-align: right; margin-left: 140.4pt; margin-top: 0.5pt; font-family: 'Times New Roman',Times,serif;">Registration No. 333-277493</div>
    <div style="margin-top: 0.5pt;"><br>
    </div>
    <div style="text-align: center; margin-bottom: 12pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">HP Inc.</div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z8bffaa2ca89e4ec494ef685ffccd9639" cellpadding="0" cellspacing="0">

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          <td style="width: 46.2%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Issuer:</u></div>
          </td>
          <td style="width: 53.8%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">HP Inc.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 46.2%; vertical-align: top;">
            <div style="font-size: 12pt;"><u><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif;">Anticipated Ratings:</font><font style="font-size: 10pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></font></u></div>
          </td>
          <td style="width: 53.8%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">Baa2 (Moody&#8217;s) / BBB (S&amp;P) / BBB+ (Fitch)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 46.2%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Trade Date:</u></div>
          </td>
          <td style="width: 53.8%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">April 14, 2025</div>
          </td>
        </tr>
        <tr>
          <td style="width: 46.2%; vertical-align: top;">
            <div style="font-size: 12pt;"><u><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif;">Settlement Date:</font><font style="font-size: 10pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></font></u></div>
          </td>
          <td style="width: 53.8%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">April 25, 2025 (T+8)</div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 12pt;"><br>
    </div>
    <div style="text-align: center; margin-bottom: 12pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">5.400% notes due 2030</div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zfaa50af5eb3b43e4be874b9db47a9694" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 46.2%; vertical-align: top;">&#160;</td>
          <td style="width: 53.8%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 46.2%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Title of Securities:</u></div>
          </td>
          <td style="width: 53.8%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">5.400% notes due 2030 (the &#8220;2030 Notes&#8221;)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 46.2%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Maturity Date:</u></div>
          </td>
          <td style="width: 53.8%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">April 25, 2030</div>
          </td>
        </tr>
        <tr>
          <td style="width: 46.2%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Principal Amount:</u></div>
          </td>
          <td style="width: 53.8%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">$500,000,000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 46.2%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Interest Rate:</u></div>
          </td>
          <td style="width: 53.8%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">5.400% per annum</div>
          </td>
        </tr>
        <tr>
          <td style="width: 46.2%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Benchmark:</u></div>
          </td>
          <td style="width: 53.8%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">UST 4.000% due March 31, 2030</div>
          </td>
        </tr>
        <tr>
          <td style="width: 46.2%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Benchmark Yield:</u></div>
          </td>
          <td style="width: 53.8%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">4.012%</div>
          </td>
        </tr>
        <tr>
          <td style="width: 46.2%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Spread to Benchmark:</u></div>
          </td>
          <td style="width: 53.8%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">+145 Basis Points</div>
          </td>
        </tr>
        <tr>
          <td style="width: 46.2%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Reoffer Yield:</u></div>
          </td>
          <td style="width: 53.8%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">5.462%</div>
          </td>
        </tr>
        <tr>
          <td style="width: 46.2%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Price to Public (Issue Price):</u></div>
          </td>
          <td style="width: 53.8%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">99.732%</div>
          </td>
        </tr>
        <tr>
          <td style="width: 46.2%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Interest Payment Dates:</u></div>
          </td>
          <td style="width: 53.8%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">Semiannually; April 25 and October 25 of each year, commencing October 25, 2025 (subject to the following business day convention).</div>
          </td>
        </tr>
        <tr>
          <td style="width: 46.2%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Method of Calculation:</u></div>
          </td>
          <td style="width: 53.8%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">30/360</div>
          </td>
        </tr>
        <tr>
          <td style="width: 46.2%; vertical-align: top;">
            <div style="margin-right: 21.6pt; font-family: 'Times New Roman',Times,serif;"><u>Optional Redemption:</u></div>
          </td>
          <td style="width: 53.8%; vertical-align: top;">
            <div style="margin-right: 21.6pt; font-family: 'Times New Roman',Times,serif;">At any time prior to March 25, 2030 (one month prior to maturity), make-whole redemption at Treasury Rate plus 25 basis points.&#160; On or
              after March 25, 2030 (one month prior to maturity), redemption at par.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 46.2%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>CUSIP/ISIN Nos.:</u></div>
          </td>
          <td style="width: 53.8%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">40434L AR6 / US40434LAR69</div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 12pt;"><br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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    <div style="text-align: center; margin-bottom: 12pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">6.100% notes due 2035</div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z2e83937958ad4509a88ca6a31fb5d09e" cellpadding="0" cellspacing="0">

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          <td style="width: 38.5%; vertical-align: top;">&#160;</td>
          <td style="width: 61.5%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 38.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Title of Securities:</u></div>
          </td>
          <td style="width: 61.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">6.100% notes due 2035 (the &#8220;2035 Notes&#8221; and, together with the 2030 Notes, the &#8220;Notes&#8221;)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Maturity Date:</u></div>
          </td>
          <td style="width: 61.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">April 25, 2035</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Principal Amount:</u></div>
          </td>
          <td style="width: 61.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">$500,000,000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Interest Rate:</u></div>
          </td>
          <td style="width: 61.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">6.100% per annum</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Benchmark:</u></div>
          </td>
          <td style="width: 61.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">UST 4.625% due February 15, 2035</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Benchmark Yield:</u></div>
          </td>
          <td style="width: 61.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">4.380%</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Spread to Benchmark:</u></div>
          </td>
          <td style="width: 61.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">+175 Basis Points</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Reoffer Yield:</u></div>
          </td>
          <td style="width: 61.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">6.130%</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Price to Public (Issue Price):</u></div>
          </td>
          <td style="width: 61.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">99.778%</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Interest Payment Dates:</u></div>
          </td>
          <td style="width: 61.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">Semiannually; April 25 and October 25 of each year, commencing October 25, 2025 (subject to the following business day convention).</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Method of Calculation:</u></div>
          </td>
          <td style="width: 61.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">30/360</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Optional Redemption:</u></div>
          </td>
          <td style="width: 61.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">At any time prior to January 25, 2035 (three months prior to maturity), make-whole redemption at Treasury Rate plus 30 basis points.&#160; On or after January 25,
              2035 (three months prior to maturity), redemption at par.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>CUSIP/ISIN Nos.:</u></div>
          </td>
          <td style="width: 61.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">40434L AS4 / US40434LAS43</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Denominations:</u></div>
          </td>
          <td style="width: 61.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">$2,000 X $1,000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Joint Book Running Managers:</u></div>
          </td>
          <td style="width: 61.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">BNP Paribas Securities Corp.<br>
              BofA Securities, Inc.</div>
            <div style="font-family: 'Times New Roman',Times,serif;">Goldman Sachs &amp; Co. LLC</div>
            <div style="font-family: 'Times New Roman',Times,serif;">J.P. Morgan Securities LLC</div>
            <div><font style="font-family: 'Times New Roman',Times,serif;">Wells Fargo Securities, LLC<br>
                </font>&#160;</div>
          </td>
        </tr>

    </table>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
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    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 38.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;"><u>Co-Managers:</u></div>
          </td>
          <td style="width: 61.5%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif;">Citigroup Global Markets Inc.</div>
            <div style="font-family: 'Times New Roman',Times,serif;">HSBC Securities (USA) Inc.</div>
            <div style="font-family: 'Times New Roman',Times,serif;">Morgan Stanley &amp; Co. LLC</div>
            <div style="font-family: 'Times New Roman',Times,serif;">Santander US Capital Markets LLC</div>
            <div style="font-family: 'Times New Roman',Times,serif;">U.S. Bancorp Investments, Inc.</div>
            <div style="font-family: 'Times New Roman',Times,serif;">Credit Agricole Securities (USA) Inc.</div>
            <div style="font-family: 'Times New Roman',Times,serif;">ING Financial Markets LLC</div>
            <div style="font-family: 'Times New Roman',Times,serif;">SG Americas Securities, LLC</div>
            <div style="font-family: 'Times New Roman',Times,serif;">Standard Chartered Bank</div>
            <div style="font-family: 'Times New Roman',Times,serif;">CIBC World Markets Corp.</div>
            <div style="font-family: 'Times New Roman',Times,serif;">Loop Capital Markets LLC</div>
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div>
      <div style="margin-bottom: 6pt;"><br>
      </div>
      <div style="margin-bottom: 6pt;">
        <hr style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto 0px 0px; height: 2px; width: 25%; color: #000000;" align="left" noshade="noshade"></div>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z122e19bb53ec4ce880b29a8e6a8578f7" cellpadding="0" cellspacing="0">

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            <td style="width: 54pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 18pt; margin-bottom: 12pt; font-family: 'Times New Roman',Times,serif;">(1)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="margin-bottom: 12pt; font-family: 'Times New Roman',Times,serif;">A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0f56123aa68547b88cdf4ee48821e1fe" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 54pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 18pt; font-family: 'Times New Roman',Times,serif;">(2)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif;">We expect delivery of the Notes will be made against payment therefor on or about April 25, 2025, which is the eighth business day following the date
                hereof.&#160; Under Rule&#160;15c6-1&#160;of the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in one business day unless the parties to that trade expressly agree otherwise.&#160; Accordingly,
                purchasers who wish to trade the Notes on any date prior to the business day before delivery will be required, by virtue of the fact that the Notes initially will settle in T+8, to specify an alternative settlement cycle at the time of any
                such trade to prevent failed settlement and should consult their own advisers.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="margin-bottom: 12pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">The Issuer has filed a registration statement (including a prospectus) with the Securities and Exchange
      Commission (the &#8220;<u>SEC</u>&#8221;) for the offering to which this communication relates.&#160; Before you invest, you should read the prospectus in that registration statement, the
      preliminary prospectus supplement and other documents the Issuer has filed with the SEC for more complete information about the Issuer and this offering.&#160; You may get these documents for free by visiting EDGAR on the SEC web site at www.sec.gov.&#160;
      Alternatively, the Issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and the related prospectus supplement if you request it by calling BNP Paribas Securities Corp. toll free at (800)
      854-5674; BofA Securities, Inc at (800) 294-1322; or Goldman Sachs &amp; Co. LLC at (866) 471-2526.</div>
    <div style="margin-bottom: 12pt; font-family: 'Times New Roman',Times,serif;">ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED.&#160; SUCH
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