We may redeem the Notes at our option at any time, in whole or from time to time in part, at a redemption price(the "Redemption Price") equal to the sum of:

•the principal amount of the Notes being redeemed plus accrued interest on such Notes to the redemption date; and

• the Make-Whole Amount, as defined below, if any, with respect to the Notes. If the Notes are redeemed on or after March 7, 2049 (six months prior to their maturity date), the Redemption Price will not include the Make-Whole Amount.

"Make-Whole Amount" means, in connection with any optional redemption of the Notes, the excess, if any, of:

• the aggregate present value as of the date of redemption of each dollar of principal being redeemed and the amount of interest, calculated by us, excluding interest accrued to the date of redemption, that would have been payable in respect of each dollar assuming the Notes being redeemed matured on, and that accrued and unpaid interest on such Notes was payable on, March 7, 2049 (determined by discounting, on a semiannual basis, the principal and interest at the Reinvestment Rate, determined on the third business day preceding the date notice of the redemption is given, from the respective dates on which the principal and interest would have been payable assuming the Notes being redeemed matured on, and that accrued and unpaid interest on such Notes was payable on, March 7, 2049), over

• the aggregate principal amount of the Notes being redeemed.

"Reinvestment Rate" means the yield on treasury securities at a constant maturity corresponding to the remaining life to maturity (rounded up to the nearest month) of the principal of the Notes being redeemed as of the date of redemption (which maturity shall be deemed to be March 7, 2049) (the "Treasury Yield"), plus 0.150% for the Notes being redeemed. For purposes of calculating the Reinvestment Rate, (1) the Treasury Yield will be equal to the arithmetic mean of the yields displayed for each day in the preceding calendar week published in the Statistical Release for Treasury constant maturities with a maturity equal to the remaining life to maturity of the Notes being redeemed (assuming the Notes matured on March 7, 2049) and (2) the most recent Statistical Release published prior to the date of the applicable determination will be used. However, if no published maturity exactly corresponds to such remaining life, then the Treasury Yield will be interpolated or extrapolated on a straight-line basis from the arithmetic means of the yields for the next shortest and next longest published maturities. If the format or content of the Statistical Release changes in a manner that precludes determination of the Treasury Yield in the above manner, then the Treasury Yield will be determined in the manner that most closely approximates the above manner, as we reasonably determine.