DESCRIPTION OF THE EXCHANGE NOTES
The Exchange Notes will be issued under the Indenture, dated as of September 3, 2003 (the “Indenture”), between L3Harris, as issuer, and The Bank of New York Mellon Trust Company, N.A., as the trustee (the “Trustee”). The Exchange Notes will constitute senior debt securities to be issued under the Indenture.
Because this section is a summary, it does not describe every aspect of the Indenture or the Exchange Notes. This summary is subject to and qualified in its entirety by reference to all of the provisions of the Indenture, including definitions of certain terms used in the Indenture and the Exchange Notes. You should read the Indenture and, when available, the Exchange Notes, because they contain additional information and they, and not this description, define your rights as a holder of the Exchange Notes. Additionally, copies of the Indenture are available without charge upon request to us at the address provided under “Where You Can Find More Information.” For purposes of this section, references to “L3Harris,” “we,” “us” or “our” include only L3Harris and not any of its subsidiaries.
General
We will initially issue up to $3,021,046,000 aggregate principal amount of Exchange Notes, consisting of up to $500,875,000 aggregate principal amount of the Exchange 4.950% 2021 Notes, up to $740,871,000 aggregate principal amount of the Exchange 3.850% 2023 Notes, up to $326,529,000 aggregate principal amount of the Exchange 3.950% 2024 Notes, up to $534,777,000 aggregate principal amount of the Exchange 3.850% 2026 Notes and up to $917,994,000 aggregate principal amount of the Exchange 4.400% 2028 Notes.
The Exchange 4.950% 2021 Notes will mature on February 15, 2021. The Exchange 3.850% 2023 Notes will mature on June 15, 2023. The Exchange 3.950% 2024 Notes will mature on May 28, 2024. The Exchange 3.850% 2026 Notes will mature on December 15, 2026. The Exchange 4.400% 2028 Notes will mature on June 15, 2028.
The Exchange 4.950% 2021 Notes will accrue interest at a rate per annum equal to 4.950% payable semi-annually in arrears on February 15 and August 15 of each year commencing on August 15, 2020, to the persons in whose names the notes are registered at the close of business on February 1 and August 1, respectively, preceding the interest payment date. Interest on the Exchange 4.950% 2021 Notes will be paid on the basis of a 360-day year consisting of twelve 30-day months.
The Exchange 3.850% 2023 Notes will accrue interest at a rate per annum equal to 3.850% payable semi-annually in arrears on June 15 and December 15 of each year commencing on June 15, 2020 (if the Exchange Date occurs before that date and otherwise on December 15, 2020), to the persons in whose names the notes are registered at the close of business on June 1 and December 1, respectively, preceding the interest payment date. Interest on the Exchange 3.850% 2023 Notes will be paid on the basis of a 360-day year consisting of twelve 30-day months.
The Exchange 3.950% 2024 Notes will accrue interest at a rate per annum equal to 3.950% payable semi-annually in arrears on May 28 and November 28 of each year commencing on May 28, 2020 (if the Exchange Date occurs before that date and otherwise on November 28, 2020), to the persons in whose names the notes are registered at the close of business on May 14 and November 14, respectively, preceding the interest payment date. Interest on the Exchange 3.950% 2024 Notes will be paid on the basis of a 360-day year consisting of twelve 30-day months.
The Exchange 3.850% 2026 Notes will accrue interest at a rate per annum equal to 3.850% payable semi-annually in arrears on June 15 and December 15 of each year commencing on June 15, 2020 (if the Exchange Date occurs before that date and otherwise on December 15, 2020), to the persons in whose names the notes are registered at the close of business on June 1 and December 1, respectively, preceding the interest payment date. Interest on the Exchange 3.850% 2026 Notes will be paid on the basis of a 360-day year consisting of twelve 30-day months.
The Exchange 4.400% 2028 Notes will accrue interest at a rate per annum equal to 4.400% payable semi-annually in arrears on June 15 and December 15 of each year commencing on June 15, 2020 (if the Exchange Date occurs before that date and otherwise on December 15, 2020), to the persons in whose names the notes are registered at the close of business on June 1 and December 1, respectively, preceding the interest payment date. Interest on the Exchange 4.400% 2028 Notes will be paid on the basis of a 360-day year consisting of twelve 30-day months.