DESCRIPTION OF THE NEW NOTES
General
The term new
notes refers to the Companys $1,966,590,000 3.734% Senior Notes due 2047 that have been registered under the Securities Act. The term old notes refers collectively to the Companys $1,966,590,000 outstanding unregistered
3.734% Senior Notes due 2047. We refer to the new notes and the old notes (to the extent not exchanged for new notes) in this section as the notes.
The terms of the old notes are identical in all material respects to those of the new notes, except that: (i) the old notes have not been
registered under the Securities Act, are subject to certain restrictions on transfer and are entitled to certain rights under the registration rights agreement (which rights will terminate upon consummation of the exchange offer, except under
limited circumstances); and (ii) the new notes will not provide for any additional interest as a result of our failure to fulfill certain registration obligations.
The Company issued the old notes and will issue the new notes pursuant to the indenture dated as of March 29, 2006, between the Company
and Citibank, N.A. as trustee, as supplemented by the first supplemental indenture, dated as of December 3, 2007, between the Company and Wells Fargo Bank, N.A., as successor trustee (as amended, the base indenture), and the Twelfth
Supplemental Indenture dated as of December 8, 2017 (as amended, modified or supplemented and together with the base indenture, the indenture). The terms of the notes include those stated in the indenture. You should refer to the
indenture for a complete statement of the terms applicable to the notes.
The following is a summary of material provisions of the
indenture. The following summary of the terms of the notes and the indenture is not complete and is subject to, and is qualified by reference to, the notes and the indenture, including the definitions therein of certain capitalized terms used but
not defined in this description of the new notes. We urge you to read the entire indenture because that document, and not this description, defines your rights as holders of the new notes.
For purposes of this section, the terms Company, we, us and our refer only to Intel
Corporation and not to any of its subsidiaries.
The new notes will mature on December 8, 2047. We may issue additional notes as
described under Further Issuances.
We may redeem the new notes, in whole or in part, at any time at our option as
described under Optional Redemption below.
The new notes will be issued in registered form in denominations of $2,000
and integral multiples of $1,000 in excess thereof.
The term business day when used with respect to the new notes means any
day, other than a Saturday or Sunday, which is not a day on which banking institutions in the City of New York (or such other place of payment as may be subsequently specified by us) are authorized or required by law or executive order to close.
The new notes will not be subject to any sinking fund.
We may, subject to compliance with applicable law, at any time purchase new notes in the open market or otherwise.
Ranking
The new notes will be our senior
unsecured and unsubordinated obligations and will rank equally in right of payment with all of our unsecured and unsubordinated obligations. However, the new notes are structurally
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