Optional Redemption: |
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The Notes will be redeemable at Allys option, in whole or in part, at any time and from time to time, on or after June 11, 2024
(180 days from December 14, 2023) (or, if additional Notes are issued thereafter, beginning 180 days after the issue date of such additional Notes), and prior to January 3, 2029 (the date that is one year prior to the maturity date), at a
redemption price (expressed as a percentage of the principal amount and rounded to three decimal places) equal to the greater of:
(a) the sum of the present values of the remaining scheduled payments of principal and
interest on the Notes to be redeemed, discounted to the redemption date (assuming that the Notes to be redeemed matured on January 3, 2029 (the date that is one year prior to the maturity date)) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined in the preliminary prospectus supplement) plus 40 basis points less (b) interest accrued
on the Notes to be redeemed to the date of redemption; and
100% of the principal amount of the Notes to be redeemed,
plus, in either case, accrued and unpaid interest thereon, if any, to, but excluding,
the redemption date. In addition, Ally may, at its option, redeem the Notes
(i) in whole but not in part on January 3, 2029 (the date that is one year prior to the maturity date) or (ii) in whole or in part, at any time and from time to time, on or after December 4, 2029 (the date that is 30 days prior
to the maturity date), in each case at a redemption price equal to 100% of the aggregate principal amount of the Notes being redeemed, plus accrued and unpaid interest thereon, if any, to, but excluding, the redemption date.
The Notes will not be subject to repayment at the option of the holder at any time prior
to maturity. |