Issuer:

Title of Security:

Ratings:

Trade Date:

Settlement Date:

August 14, 2020 (T+4)

We expect that delivery of the notes will be made on or about August 14, 2020 which will be on or about the fourth business day following the date of pricing of the notes (this settlement cycle being referred to as “T+4”). Under Rule 15c6-1 under the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in two business days, or “T+2”, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the notes prior to the second business day before the delivery of the notes will be required, by virtue of the fact that the notes initially will settle in “T+4”, to specify an alternative settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of the notes who wish to make such trades should consult their own advisors.

Aggregate Principal Amount:

Maturity Date:

Coupon:

Benchmark Treasury:

Benchmark Treasury Price and Yield:

Spread to Benchmark Treasury:

Yield to Maturity:

Issue Price:

Interest Payment Dates:

Optional Redemption:

At any time prior to August 15, 2030 (three months prior to the stated maturity of the notes), at the greater of a price of 100% or at a discount rate of Treasury plus 30 basis points

On or after August 15, 2030 (three months prior to the stated maturity of the notes), at a price of 100%

CUSIP:

ISIN:

Joint Book-Running Managers:

Deutsche Bank Securities Inc.

Goldman Sachs & Co. LLC

Co-Managers: