InterNotes® Program

• InterNotes® is a platform from InspereX (formerly Incapital) for purchasing corporate notes at par

• Marketed to retail investors in $1,000 increments and emphasizes ease of use

• InterNotes® includes convenience-oriented features such as small upfront investment sizes, diverse maturity periods and interest payment schedules, and a “survivor’s option” to help with estate planning

• Flexibility to issue during weekly pricing periods to retail investors 

• Flexibility to redeem with a par redemption option after 1 year

• Less expensive all-in cost with a comparatively lower coupon attractive to retail investors

• Valuable redemption option

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• May take time to achieve the overall funding amount targeted

• Takes some effort (though modest and manageable)