<SEC-DOCUMENT>0001193125-16-610138.txt : 20160602
<SEC-HEADER>0001193125-16-610138.hdr.sgml : 20160602
<ACCEPTANCE-DATETIME>20160601181653
ACCESSION NUMBER:		0001193125-16-610138
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20160602
DATE AS OF CHANGE:		20160601

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			REINSURANCE GROUP OF AMERICA INC
		CENTRAL INDEX KEY:			0000898174
		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]
		IRS NUMBER:				431627032
		STATE OF INCORPORATION:			MO
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-196114
		FILM NUMBER:		161690424

	BUSINESS ADDRESS:	
		STREET 1:		16600 SWINGLEY RIDGE ROAD
		CITY:			CHESTERFIELD
		STATE:			MO
		ZIP:			63017
		BUSINESS PHONE:		6367367000

	MAIL ADDRESS:	
		STREET 1:		16600 SWINGLEY RIDGE ROAD
		CITY:			CHESTERFIELD
		STATE:			MO
		ZIP:			63017

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			REINSURANCE GROUP OF AMERICA INC
		CENTRAL INDEX KEY:			0000898174
		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]
		IRS NUMBER:				431627032
		STATE OF INCORPORATION:			MO
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		16600 SWINGLEY RIDGE ROAD
		CITY:			CHESTERFIELD
		STATE:			MO
		ZIP:			63017
		BUSINESS PHONE:		6367367000

	MAIL ADDRESS:	
		STREET 1:		16600 SWINGLEY RIDGE ROAD
		CITY:			CHESTERFIELD
		STATE:			MO
		ZIP:			63017
</SEC-HEADER>
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<TYPE>FWP
<SEQUENCE>1
<FILENAME>d200489dfwp.htm
<DESCRIPTION>FWP
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Free Writing Prospectus</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Relating to
the Preliminary Prospectus</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Supplement dated June&nbsp;1, 2016</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>To the Prospectus dated May&nbsp;20, 2014</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Filed pursuant to Rule 433 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Registration Statement No. 333-196114 </B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Reinsurance Group of America, Incorporated </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>$400,000,000 5.75% Fixed-To-Floating Rate Subordinated Debentures due 2056 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Final Term Sheet </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Dated
June&nbsp;1, 2016 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Issuer </B> </P></TD>
<TD> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Reinsurance Group of America, Incorporated </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Security </B> </P></TD>
<TD>SEC Registered 5.75% Fixed-To-Floating Rate Subordinated Debentures due 2056 (the &#147;<U> Debentures</U>&#148;) </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Principal Amount </B> </P></TD>
<TD> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">$400,000,000 </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Maturity Date </B> </P></TD>
<TD> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">June&nbsp;15, 2056 </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Trade Date </B> </P></TD>
<TD> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">June&nbsp;1, 2016 </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Settlement Date (T+5)* </B> </P></TD>
<TD> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">June&nbsp;8, 2016 </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Interest Rate During Fixed Rate Period </B> </P></TD>
<TD>5.75%, from the issue date to but excluding June&nbsp;15, 2026, or any earlier redemption date. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Interest Payment Dates During Fixed Rate Period </B> </P></TD>
<TD>Payable quarterly in arrears on March&nbsp;15,&nbsp;June&nbsp;15,&nbsp;September&nbsp;15 and December&nbsp;15, commencing September&nbsp;15, 2016, to and including, June&nbsp;15, 2026, subject to Issuer&#146;s option to defer interest payments.
</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Day Count Convention During Fixed Rate Period </B> </P></TD>
<TD> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">30/360, unadjusted. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Interest Rate During Floating Rate Period </B> </P></TD>
<TD>Sum of three-month LIBOR, reset quarterly, plus 4.04%, commencing on and including June&nbsp;15, 2026, to the Maturity Date, unless redeemed or repaid earlier; provided that any such sum shall not be less than zero. </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Interest Payment Dates During Floating Rate Period </B> </P></TD>
<TD>Payable quarterly in arrears on March&nbsp;15,&nbsp;June&nbsp;15,&nbsp;September&nbsp;15 and December&nbsp;15, commencing September&nbsp;15, 2026, to the Maturity Date, unless redeemed or repaid earlier, subject to Issuer&#146;s option to defer
interest payments. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Day Count Convention During Floating Rate Period </B> </P></TD>
<TD> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Actual/360, adjusted. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Price to Public </B> </P></TD>
<TD> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">$25 per Debenture/100% of principal amount. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>

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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Underwriting Discounts </B> </P></TD>
<TD>$4,725,625, reflecting 14,650,000 Debentures to be sold to institutional investors, for which the underwriters receive an underwriting discount of $0.25 per Debenture, and 1,350,000 Debentures to be sold to retail investors, for which the
underwriters receive an underwriting discount of $0.7875 per Debenture </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Proceeds to Issuer (after underwriting discount and before expenses)</B> </P></TD>
<TD> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><B></B>$395,274,375 </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Optional Redemption </B> </P></TD>
<TD>Redeemable in whole at any time or in part from time to time on or after June&nbsp;15, 2026, at a redemption price equal to 100% of the principal amount of the Debentures being redeemed, plus accrued and unpaid interest to but excluding the
redemption date. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Redemption After the Occurrence of a Rating Agency Event </B> </P></TD>
<TD>Redeemable in whole, but not in part, at any time prior to June&nbsp;15, 2026 within 90 days of the occurrence of a rating agency event, at a redemption price equal to the greater of (i)&nbsp;100% of the principal amount of the Debentures being
redeemed, or (ii)&nbsp;present value of the (a)&nbsp;outstanding principal (discounted from June&nbsp;15, 2026 to but excluding the redemption date) and (b)&nbsp;remaining scheduled payments of interest that would have been payable from the
redemption date to and including, June&nbsp;15, 2026 (discounted from their respective interest payment dates to but excluding, the redemption date) on the Debentures to be redeemed (not including any portion of such payments of interest accrued and
unpaid to but excluding the redemption date), at a discount rate equal to the Treasury Rate plus a spread of 50 basis points, in each case, plus accrued and unpaid interest to but excluding the redemption date. </TD></TR></TABLE>

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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Redemption After the Occurrence of a Tax Event or Regulatory Capital Event </B> </P></TD>
<TD>Redeemable in whole, but not in part, at any time prior to June&nbsp;15, 2026 within 90 days of the occurrence of a tax event or regulatory capital event, at a redemption price equal to 100% of the principal amount of the Debentures being
redeemed, plus accrued and unpaid interest to but excluding the redemption date. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Authorized Denominations </B> </P></TD>
<TD> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">$25 and integral multiples of $25 in excess thereof. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Listing </B> </P></TD>
<TD>The Issuer intends to apply to list the Debentures on the NYSE. If the application is approved, the Issuer expects trading on the NYSE to begin within 30 days of the initial issuance of the Debentures. </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>CUSIP / ISIN </B> </P></TD>
<TD> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">759351 802 / US7593518027 </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Ratings (Moody&#146;s / S&amp;P)** </B> </P></TD>
<TD> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Baa2 / BBB (Stable/Stable) </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Joint Book-Running Managers </B> </P></TD>
<TD> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">J.P. Morgan Securities LLC </P></TD></TR></TABLE>
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<TD WIDTH="38%"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Merrill Lynch, Pierce, Fenner&nbsp;&amp; Smith </P></TD></TR></TABLE>
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<TD WIDTH="38%"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD>
<P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incorporated
</P></TD></TR></TABLE>
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<TD WIDTH="38%"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Wells Fargo Securities, LLC </P></TD></TR></TABLE>
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<TD WIDTH="38%"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">HSBC Securities (USA) Inc. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="38%"> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Co-Managers </B> </P></TD>
<TD> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Barclays Capital Inc. </P></TD></TR></TABLE>
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<TD WIDTH="38%"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">KeyBanc Capital Markets Inc. </P></TD></TR></TABLE>
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<TD> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Mitsubishi UFJ Securities (USA), Inc. </P></TD></TR></TABLE>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:13%">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">(*)</TD>
<TD ALIGN="left" VALIGN="top">It is expected that delivery of the notes will be made against payment therefor on or about June&nbsp;8, 2016, which is the fifth business day following the date hereof (such settlement cycle being referred to as
&#147;T+5&#148;). Pursuant to Rule 15c6-1 under the Exchange Act, trades in the secondary market generally are required to settle in three 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 succeeding business day will be required, by virtue of the fact that the notes initially will settle in T+5, to specify an alternative settlement cycle at the time of any such trade to prevent
failed settlement. Purchasers of the notes who wish to trade the notes on the date of pricing and the next succeeding business day should consult their own advisors. </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">(**)</TD>
<TD ALIGN="left" VALIGN="top">An explanation of the significance of ratings may be obtained from the rating agencies. Generally, rating agencies base their ratings on such material and information, and such of their own investigations, studies and
assumptions, as they deem appropriate. The rating of the notes should be evaluated independently from similar ratings of other securities. A credit rating of a security is not a recommendation to buy, sell or hold securities and may be subject to
review, revision, suspension, reduction or withdrawal at any time by the assigning rating agency. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>The Issuer has filed a registration
statement (including a prospectus, which consists of a preliminary prospectus supplement dated June&nbsp;1, 2016 and an accompanying prospectus dated May&nbsp;20, 2014) with the SEC for the offering to which this communication relates. Before you
invest, you should read the prospectus in that registration statement and other documents the Issuer has filed with the SEC for more complete information about the Issuer and this offering. You may get these documents for free by visiting EDGAR on
the SEC website at </B><B><I>www.sec.gov</I></B><B>. Alternatively, the Issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling: J.P. Morgan Securities LLC at
(212)&nbsp;834-4533, Merrill Lynch, Pierce, Fenner&nbsp;&amp; Smith Incorporated at (800)&nbsp;294-1322, Wells Fargo Securities, LLC at (800)&nbsp;645-3751, or HSBC Securities (USA) Inc. at (866)&nbsp;811-8049. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER
NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER E-MAIL SYSTEM. </B></P>
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