<SEC-DOCUMENT>0001193125-20-048533.txt : 20200225
<SEC-HEADER>0001193125-20-048533.hdr.sgml : 20200225
<ACCEPTANCE-DATETIME>20200225172932
ACCESSION NUMBER:		0001193125-20-048533
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20200225
DATE AS OF CHANGE:		20200225

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FULTON FINANCIAL CORP
		CENTRAL INDEX KEY:			0000700564
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				232195389
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-221393
		FILM NUMBER:		20652319

	BUSINESS ADDRESS:	
		STREET 1:		ONE PENN SQ
		STREET 2:		PO BOX 4887
		CITY:			LANCASTER
		STATE:			PA
		ZIP:			17604
		BUSINESS PHONE:		7172912411

	MAIL ADDRESS:	
		STREET 1:		ONE PENN SQ
		STREET 2:		PO BOX 4887
		CITY:			LANCASTER
		STATE:			PA
		ZIP:			17604

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FULTON FINANCIAL CORP
		CENTRAL INDEX KEY:			0000700564
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				232195389
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		ONE PENN SQ
		STREET 2:		PO BOX 4887
		CITY:			LANCASTER
		STATE:			PA
		ZIP:			17604
		BUSINESS PHONE:		7172912411

	MAIL ADDRESS:	
		STREET 1:		ONE PENN SQ
		STREET 2:		PO BOX 4887
		CITY:			LANCASTER
		STATE:			PA
		ZIP:			17604
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>d894390dfwp.htm
<DESCRIPTION>FWP
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<HTML><HEAD>
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<Center><DIV STYLE="width:8.5in" align="left">
 <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:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Issuer Free Writing Prospectus dated February&nbsp;25, 2020 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Registration <FONT STYLE="white-space:nowrap">No.&nbsp;333-221393</FONT> </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g894390g0226010031872.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$175,000,000 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3.750% <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Fixed-to-Floating</FONT></FONT> Rate Subordinated Notes due 2035 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Term Sheet </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"><B>Issuer:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Fulton Financial Corporation (the &#147;Company&#148; or &#147;Issuer&#148;)</TD></TR>
<TR STYLE="font-size:1pt">
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<TD VALIGN="top"><B>Security:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">3.750% <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Fixed-to-Floating</FONT></FONT> Rate Subordinated Notes due 2035 (the &#147;Notes&#148;)</TD></TR>
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<TD VALIGN="top"><B>Aggregate Principal Amount:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">$175,000,000</TD></TR>
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<TD VALIGN="top"><B>Expected Ratings:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Baa1 by Moody&#146;s and BBBH by DBRS</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">A rating is not a recommendation to buy, sell or hold securities. Ratings may be subject to revision or withdrawal at any time by the assigning rating organization. Each rating should be evaluated independently of any other
rating.</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"><B>Trade Date:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">February&nbsp;25, 2020</TD></TR>
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<TD VALIGN="top"><B>Settlement Date:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">March&nbsp;3, 2020 (T + 5)</TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"><B>Maturity Date (if not previously redeemed):</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">March&nbsp;15, 2035</TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"><B>Coupon:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">From and including the Settlement Date to, but excluding, March&nbsp;15, 2030 or the date of earlier redemption (the &#147;fixed rate period&#148;) 3.750% per annum, payable semiannually in arrears. From and including March&nbsp;15,
2030 to, but excluding, the Maturity Date or the date of earlier redemption (the &#147;floating rate period&#148;), a floating rate per annum equal to the Benchmark rate (which is expected to be Three-Month Term SOFR) (each as defined in the
prospectus supplement under &#147;Description of Subordinated Notes &#151; Interest&#148;), plus a spread of 270 basis points for each quarterly interest period during the floating rate period, payable quarterly in arrears; <I>provided, however</I>,
that if the Benchmark rate is less than zero, the Benchmark rate shall be deemed to be zero.</TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"><B>Interest Payment Dates:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Fixed rate period: March&nbsp;15 and September&nbsp;15 of each year, commencing on September&nbsp;15, 2020. The last interest payment date for the fixed rate period will be March&nbsp;15, 2030.</TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Floating rate period: March&nbsp;15, June&nbsp;15, September&nbsp;15 and December&nbsp;15 of each year, commencing on June&nbsp;15, 2030.</TD></TR></TABLE>
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<TD VALIGN="top"><B>Record Dates:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">The 15th calendar day immediately preceding the applicable interest payment date.</TD></TR>
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<TD VALIGN="top"><B>Day Count Convention:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Fixed rate period: 30/360.</TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Floating rate period: <FONT STYLE="white-space:nowrap">360-day</FONT> year and the number of days actually elapsed.</TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"><B>Optional Redemption:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">The Company may, at its option, beginning with the interest payment date of March&nbsp;15, 2030, and on any interest payment date thereafter, redeem the Notes, in whole or in part, from time to time, subject to obtaining the prior
approval of the Federal Reserve to the extent such approval is then required under the rules of the Federal Reserve, at a redemption price equal to 100% of the principal amount of the Notes being redeemed, plus accrued and unpaid interest to, but
excluding, the date of redemption.</TD></TR>
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<TD VALIGN="top"><B>Special Redemption:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">The Company may redeem the Notes at any time prior to the Maturity Date, including prior to March&nbsp;15, 2030, in whole, but not in part, subject to obtaining the prior approval of the Federal Reserve to the extent such approval
is then required under the rules of the Federal Reserve, upon the occurrence of (i)&nbsp;a &#147;Tax Event&#148; (as defined under &#147;Description of Subordinated Notes &#151; Redemption&#148; in the prospectus supplement), (ii) a &#147;Tier 2
Capital Event&#148; (as defined under &#147;Description of Subordinated Notes &#151; Redemption&#148; in the prospectus supplement), or (iii)&nbsp;the Company becoming required to register as an investment company under the Investment Company Act of
1940, as amended, in each case, at a redemption price equal to 100% of the principal amount of the Notes, plus any accrued and unpaid interest to, but excluding, the redemption date.</TD></TR>
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<TD VALIGN="top"><B>Denominations:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">$1,000 minimum denominations and $1,000 integral multiples thereof.</TD></TR>
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<TD VALIGN="top"><B>Concurrent Subordinated Notes Offering:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">On February&nbsp;25, 2020, the Company priced its offering of $200.0 million aggregate principal amount of 3.250% <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Fixed-to-Floating</FONT></FONT> Rate Subordinated
Notes due 2030 (the &#147;Concurrently Offered Notes&#148;), expected to be issued on March&nbsp;3, 2020. The closing of this offering is not conditioned on the closing of the concurrent offering, and the closing of that offering is not conditioned
on the closing of this offering. Nothing in this document should be construed as an offer to sell, or a solicitation of an offer to buy, any securities in the concurrent offering.</TD></TR>
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<TD VALIGN="top"><B>Use of Proceeds:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">The Company intends to use the net proceeds from this offering for general corporate purposes.</TD></TR>
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<TD VALIGN="top"><B>Price to Public:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">100%</TD></TR>
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<TD VALIGN="top"><B>Underwriters&#146; Discount:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">0.875% of principal amount of the Notes</TD></TR>
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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Proceeds to Issuer (after underwriters&#146; discount, but before expenses):</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">$173,468,750</TD></TR>
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<TD VALIGN="top"><B>Ranking:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">The Notes will be unsecured, subordinated obligations of the Company and will rank:</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&#8195;&#8202;junior in right of payment to any of the Company&#146;s existing and future
Senior Indebtedness, including its 3.60% senior notes due 2022;</P></TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&#8195;&#8202;equal in right of payment with any of the Company&#146;s existing and future
subordinated indebtedness, including its 4.50% subordinated notes due 2024 and the Concurrently Offered Notes, if issued;</P></TD></TR>
<TR STYLE="font-size:1pt">
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&#8195;&#8202;senior to the Company&#146;s obligations relating to any junior subordinated
debt securities issued to its capital trust subsidiaries;</P></TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&#8195;&#8202;effectively subordinated to all of the Company&#146;s secured indebtedness to
the extent of the value of the assets securing such indebtedness; and</P></TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&#8195;&#8202;structurally subordinated to any existing and future liabilities and
obligations of the Company&#146;s subsidiaries, including the deposit liabilities and claims of other creditors of its bank subsidiary, Fulton Bank, N.A. (&#147;Fulton Bank&#148;).</P></TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">As of December&nbsp;31, 2019, the Company had $19.3&nbsp;billion of Senior Indebtedness outstanding on a consolidated basis, and Fulton Bank had $17.4&nbsp;billion of deposits, $17.4&nbsp;million of Federal Home Loan Bank advances,
including advances with an original maturity term of less than one year, $991.0&nbsp;million of customer repurchase agreements and $56.7&nbsp;million of customer short-term promissory notes to which the Notes will be structurally
subordinated.</TD></TR>
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<TD VALIGN="top"><B>CUSIP/ISIN:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">360271 AM2 / US360271AM20</TD></TR>
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<TD VALIGN="top"><B>Active Book-Runner:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Piper Sandler&nbsp;&amp; Co.</TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Passive Book-Runner:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Keefe, Bruyette&nbsp;&amp; Woods, <I>A Stifel Company</I></TD></TR>
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<TD VALIGN="top"><B><FONT STYLE="white-space:nowrap">Co-Managers:</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Goldman Sachs&nbsp;&amp; Co. LLC</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Wells Fargo
Securities, LLC</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>*Note: We expect that delivery of the Notes will be made against payment therefor on or about the fifth business day
following the date of pricing of the Notes (this settlement cycle being referred to as &#147;T+5&#148;). Accordingly, purchasers who wish to trade the Notes on the date of pricing or the next two succeeding business days will be required, by virtue
of the fact that the Notes initially will settle in T+5, to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of the Notes who wish to trade their Notes on the date of pricing or the next
two succeeding business days should consult their own advisor. </B></P> <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) and a
preliminary prospectus supplement (the &#147;Preliminary Prospectus Supplement&#148;) with the Securities and Exchange Commission (&#147;SEC&#148;) for the offering to which this communication relates. Before you invest, you should read the
prospectus in that registration statement, the Preliminary Prospectus Supplement, the final prospectus supplement (when available) 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&#146;s website at <U>www.sec.gov.</U> Alternatively, the issuer, any underwriter or any dealer participating in the offerings will arrange to send you the prospectus and the
related Preliminary Prospectus Supplement if you request it by calling Piper Sandler&nbsp;&amp; Co. toll-free at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">866-805-4128,</FONT></FONT> Keefe, Bruyette&nbsp;&amp; Woods,
</B><B><I>A Stifel Company</I></B><B> at 1-800-966-1559, Goldman Sachs &amp; Co. LLC at 866-471-2526, or Wells Fargo Securities, LLC at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">800-645-3751.</FONT></FONT> </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Capitalized terms used in this Pricing Term Sheet but not defined have the meanings given them in the
Preliminary Prospectus Supplement. This Pricing Term Sheet is qualified in its entirety by reference to the Preliminary Prospectus Supplement. The information in this Pricing Term Sheet supplements the Preliminary Prospectus Supplement and
supersedes the information in the Preliminary Prospectus Supplement to the extent it is inconsistent with the information in the Preliminary Prospectus Supplement. Other information (including other financial information) presented in the
Preliminary Prospectus Supplement is deemed to have changed to the extent affected by the information contained herein. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>ANY DISCLAIMERS OR OTHER
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 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

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