<SEC-DOCUMENT>0001104659-16-095587.txt : 20160211
<SEC-HEADER>0001104659-16-095587.hdr.sgml : 20160211
<ACCEPTANCE-DATETIME>20160210182702
ACCESSION NUMBER:		0001104659-16-095587
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20160211
DATE AS OF CHANGE:		20160210

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SENIOR HOUSING PROPERTIES TRUST
		CENTRAL INDEX KEY:			0001075415
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				043445278
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-205298
		FILM NUMBER:		161407164

	BUSINESS ADDRESS:	
		STREET 1:		TWO NEWTON PLACE
		STREET 2:		255 WASHINGTON STREET
		CITY:			NEWTON
		STATE:			MA
		ZIP:			02458
		BUSINESS PHONE:		6173323990

	MAIL ADDRESS:	
		STREET 1:		TWO NEWTON PLACE
		STREET 2:		255 WASHINGTON STREET
		CITY:			NEWTON
		STATE:			MA
		ZIP:			02458

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SENIOR HOUSING PROPERTIES TRUST
		CENTRAL INDEX KEY:			0001075415
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				043445278
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		TWO NEWTON PLACE
		STREET 2:		255 WASHINGTON STREET
		CITY:			NEWTON
		STATE:			MA
		ZIP:			02458
		BUSINESS PHONE:		6173323990

	MAIL ADDRESS:	
		STREET 1:		TWO NEWTON PLACE
		STREET 2:		255 WASHINGTON STREET
		CITY:			NEWTON
		STATE:			MA
		ZIP:			02458
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>a16-3247_4fwp.htm
<DESCRIPTION>FWP
<TEXT>


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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Filed Pursuant to Rule&nbsp;433<br> Issuer Free Writing Prospectus<br> dated February&nbsp;10, 2016<br> Registration No.&nbsp;333-205298<br> Supplementing the Preliminary<br> Prospectus dated February&nbsp;10, 2016<br> and Prospectus dated June&nbsp;26, 2015</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">SENIOR HOUSING PROPERTIES TRUST</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">This information supplements the information contained in the preliminary prospectus<br> supplement dated February&nbsp;10, 2016 to the Prospectus dated June&nbsp;26, 2015.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Pricing Term Sheet</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">$250,000,000 6.25% Senior Notes due 2046</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Issuer:</font></p>    </td>
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<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Senior Housing   Properties Trust</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Expected Ratings:   (Moody&#146;s / S&amp;P)*</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Baa3 / BBB-</font></p>    </td>   </tr>
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<td width="28%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Security Type:</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Senior Unsecured Notes</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Format:</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">SEC Registered</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Principal Amount:</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$250,000,000</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Overallotment Option:</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$37,500,000</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Trade Date:</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">February&nbsp;10, 2016</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Settlement Date:</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">February&nbsp;18, 2016   (T+5)</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">Maturity   Date:</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">February&nbsp;1,   2046</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">Interest   Payment Dates:</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">March&nbsp;1,   June&nbsp;1, September&nbsp;1 and December&nbsp;1, commencing June&nbsp;1,   2016</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Coupon (Interest Rate):</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">6.25%</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">Public Offering Price:</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$25.00 per Senior Note,   plus accrued interest, if any, from the date the Senior Notes are issued, if   settlement occurs after that date</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">Net   Proceeds (before expenses and excluding overallotment option):</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="bottom" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$242,137,937.50</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">Underwriting   Commission:</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$0.7875 per Senior Note   for Retail Orders; $7,839,562.50 total; $0.50 per Senior Note for   Institutional Orders; $22,500.00 total.</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">Optional   Redemption Provisions:</font></p>    </td>
<td width="1%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">The Issuer may redeem   some or all of the notes at any time and from time to time on or after   February&nbsp;18, 2021 at a redemption price equal to 100% of the principal   amount of the notes being redeemed plus accrued and unpaid interest, if any,   to, but not including, the redemption date.</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">Minimum   Denominations:</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">$25.00 and integral   multiples of $25.00 in excess thereof</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">Expected   Listing:</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">The Issuer intends to   list the Notes on the New York Stock Exchange under the symbol &#147;SNHO&#148; and   expects trading in the Notes on the New York Stock Exchange to begin within   30 days after the Settlement Date.</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="28%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">CUSIP   / ISIN:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">81721M 307 /   US81721M3079</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">Joint   Book-Running Managers:</font></p>    </td>
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<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">Merrill   Lynch, Pierce, Fenner&nbsp;&amp; Smith </font></p>
<p style="margin:3.0pt 0in .0001pt .6in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">Incorporated   </font></p>
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">Morgan   Stanley&nbsp;&amp; Co. LLC </font></p>
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">UBS   Securities LLC </font></p>
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">Wells   Fargo Securities, LLC </font></p>
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">Citigroup   Global Markets Inc. </font></p>
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">RBC   Capital Markets, LLC</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">Lead   Manager</font></p>    </td>
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<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">Jefferies   LLC</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.5%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.76%;">
<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:2.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">Co-Managers</font></p>    </td>
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<p style="margin:0in 0in .0001pt .1in;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">BB&amp;T   Capital Markets, a division of BB&amp;T Securities, LLC </font></p>
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">FBR   Capital Markets&nbsp;&amp; Co. </font></p>
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">Janney   Montgomery Scott LLC </font></p>
<p style="margin:3.0pt 0in .0001pt;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:9.0pt;">Oppenheimer&nbsp;&amp;   Co. Inc.</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .1in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*Note: </font>A securities rating is not a recommendation to buy, sell or hold securities.&#160; Each rating may be subject to review, revision, suspension, reduction or withdrawal at any time and should be evaluated independently of any other rating.</p>
<p style="margin:0in 0in .0001pt .1in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .1in;text-align:justify;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">The Issuer has filed a registration statement (including a preliminary prospectus supplement and a related prospectus) with the Securities and Exchange Commission, or SEC, for the offering to which this communication relates. Before you invest, you should read the preliminary prospectus supplement and the related 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 <i>www.sec.gov</i>. Alternatively, the Issuer or any underwriter participating in the offering will arrange to send you the prospectus supplement and related prospectus if you request it by calling Merrill Lynch, Pierce, Fenner&nbsp;&amp; Smith Incorporated toll-free at 1-800-294-1322; Morgan Stanley&nbsp;&amp; Co. LLC toll-free 1-866 718-1649; UBS Securities LLC toll-free at 1-888-827-7275; Wells Fargo Securities, LLC toll-free at 1-800-645-3751; Citigroup Global Markets Inc. toll-free at 1-800-831-9146; and RBC Capital Markets, LLC toll-free at 1-866-375-6829.</font></b></p>
<p style="margin:0in 0in .0001pt .1in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .1in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">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 email system.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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