Exhibit 4(a)
WAL-MART STORES,
INC.
Series Terms
Certificate
Pursuant to Section 3.01 of
the Indenture
Relating to 5.625% Notes Due
2034
Pursuant to Section 3.01 of the
Indenture, dated as of July 19, 2005, as amended and
supplemented (the “Indenture”), made between Wal-Mart
Stores, Inc., a Delaware corporation (the “Company”),
and The Bank of New York Mellon Trust Company, N.A., as Trustee
(the “Trustee”), Charles M. Holley, Jr., Executive Vice
President, Finance and Treasurer of the Company (the
“Certifying Authorized Officer”), hereby certifies as
follows, and Anthony D. George, Associate General Counsel, Finance
and Assistant Secretary of the Company, attests to the following
certification. Any capitalized term used herein shall have the
definition ascribed to that term as set forth in the Indenture
unless otherwise defined herein.
A. This certificate is a Series
Terms Certificate contemplated by Section 3.01 of the
Indenture and is being executed to evidence the establishment and
approval of the terms and conditions of the Series that was
established pursuant to Section 3.01 of the Indenture by means
of a Unanimous Written Consent of the Executive Committee of the
Board of Directors of the Company, dated March 20, 2009 (the
“Series Consent”), which Series is designated as the
“5.625% Notes Due 2034” (the “2034
Series”), by the Certifying Authorized Officer pursuant to
the grant of authority under the terms of the Series
Consent.
B. Each of the undersigned has read
the Indenture, including the provisions of Sections 1.02 and 3.01
and the definitions relating thereto, and the resolutions adopted
in the Series Consent. In the opinion of the undersigned, the
undersigned have made such examination or investigation as is
necessary to enable the undersigned to express an informed opinion
as to whether or not all conditions precedent provided for in the
Indenture relating to the execution and delivery by the Trustee of
the Indenture, to the creation, establishment and approval of the
title, the form and the terms of a Series under the Indenture, and
to the authentication and delivery by the Trustee of promissory
notes of a Series, have been complied with. In the opinion of the
undersigned, (i) all such conditions precedent have been
complied with and (ii) there are no Events of Default, or
events which, with the passage of time, would become an Event of
Default under the Indenture that have occurred and are continuing
at the date of this certificate.
C. Pursuant to the Series Consent,
the Company is authorized to issue initially £1,000,000,000
aggregate principal amount of promissory notes of the 2034 Series.
A copy of the Series Consent is attached hereto as Annex A .
Any promissory notes that the Company issues that are a part of the
2034 Series (the “2034 Notes”) shall be issued in
registered book-entry form and shall be represented by a global
security substantially in the form attached hereto as Annex
B (the “Form of 2034 Note”). Acting pursuant to
authority delegated to him pursuant to the Series Consent, the
Executive Vice President, Finance and Treasurer, of the Company
have approved and set the aggregate principal amount of the 2034
Notes initially to be issued (the “Initial 2034 Notes”)
to be £1,000,000,000.
D. Pursuant to Section 3.01 of
the Indenture, the terms and conditions of the 2034 Series and the
2034 Notes are established and approved to be the
following:
The Series established by the Series
Consent is designated as the “5.625% Notes Due
2034”.
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2.
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Aggregate
Principal Amount :
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The 2034 Series is not limited as to
the aggregate principal amount of all the promissory notes of the
2034 Series that the Company may issue. The Company is issuing the
Initial 2034 Notes in an aggregate original principal amount of
£1,000,000,000.
Final maturity of the 2034 Notes
will be March 27, 2034.
The 2034 Notes will bear interest at
the rate of 5.625% per annum, which interest shall commence
accruing from and including March 27, 2009. Additional Amounts
(as defined in Section 4(a) of the Form of 2034 Note), if any,
will also be payable on the 2034 Notes.
Interest will be payable on the 2034
Notes semi-annually in arrears on March 27 and
September 27 of each year, commencing on September 27,
2009, to the person or persons in whose name or names the 2034
Notes are registered at the close of business on the immediately
preceding March 15 or September 15, as the case may be.
Interest on the 2034 Notes will be computed on the basis of a
360-day year consisting of twelve 30-day months.
The principal and interest payable
with respect to the 2034 Notes shall be payable in pounds
sterling.
If, prior to the maturity of the
2034 Notes, the United Kingdom adopts the euro as its lawful
currency in accordance with the Treaty establishing European
Communities, as amended from time to time, the 2034 Notes will be
re-denominated into euro, and the principal, interest, any
Tax
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Redemption Price (as defined in the
Form of 2034 Note) and any Additional Amounts (as defined in the
Form of 2034 Note) will become payable in euro.
All payments of principal of, any
Tax Redemption Price with respect to, and interest on, the 2034
Notes shall be made as set forth in Section 6 of the Form of
2034 Note.
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7.
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Optional
Redemption Features :
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The Company may redeem the 2034
Notes upon the occurrence of certain tax events as set forth in
Section 4(b) of the Form of 2034 Note.
There is no sinking fund with
respect to the 2034 Notes.
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8.
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Special
Redemption Features, etc. :
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None.
£50,000 and integral multiples
of £1,000 in excess thereof for the 2034 Notes.
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10.
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Principal
Repayment :
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100% of the principal amount of the
2034 Notes.
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11.
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Registrar,
Paying Agent and Transfer Agent :
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The Bank of New York Mellon Trust
Company, N.A. will be the registrar, U.S. paying agent and U.S.
transfer agent for the 2034 Notes. The Bank of New York Mellon will
be the London paying agent and the London transfer agent for the
2034 Notes.
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12.
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Payment of
Additional Amounts:
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The Company shall pay additional
amounts as set forth under Section 4(a) of the Form of 2034
Note.
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13.
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Book-Entry
Procedures :
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The 2034 Notes shall be issued in
the form of a single global note registered in the name of The Bank
of New York Mellon Depository (Nominees) Limited, as nominee for
The Bank of New York Mellon, as common depositary for Clearstream
Banking, société anonyme and Euroclear Bank
S.A./N.V., and will be issued in certificated form only in limited
circumstances, in each case, as set forth under Sections 12
and 13 of the Form of 2034 Note.
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Sections 2, 3, 5, 7, 8, 9, 10, 11,
12, 13, 14, 15, 16, 17 and 18 of the Form of 2034 Note shall also
apply to the 2034 Notes.
The 2034 Notes will not have any
terms or conditions of the type contemplated by clause (ii), (iii),
(vi), (vii), (xii), (xiii), (xiv), (xvi), (xvii), (xix) or
(xx) of Section 3.01 of the Indenture.
E. The 2034 Notes will be issued
pursuant to and governed by the Indenture. To the extent that the
Indenture’s terms apply to the 2034 Notes specifically or
apply to the terms of all Securities of all Series established
pursuant to and governed by the Indenture, such terms shall apply
to the 2034 Notes.
[signature page follows]
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IN WITNESS WHEREOF,
the undersigned has hereunto
executed this Certificate as of March 20, 2009.
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/s/ Charles M. Holley,
Jr.
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Charles M.
Holley, Jr.
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Executive Vice
President, Finance and Treasurer
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ATTEST:
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Anthony D.
George
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Associate
General Counsel, Finance and Assistant Secretary
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Series Term Certificate for WMT
5.625% Notes - Signature Page
ANNEX A
UNANIMOUS CONSENT TO
ACTION
IN LIEU OF A SPECIAL
MEETING
OF THE EXECUTIVE COMMITTEE
OF
THE BOARD OF
DIRECTORS
OF WAL-MART STORES,
INC.
March 20,
2009
The undersigned, being all of the
members of the Executive Committee of the Board of Directors of
Wal-Mart Stores, Inc., a Delaware corporation (the
“Company”), do hereby consent to the adoption of the
following resolutions in accordance with the provisions of
Section 141(f) of the General Corporation Law of
Delaware:
WHEREAS , the Company has registered with the Securities
and Exchange Commission pursuant to the Securities Act of 1933, as
amended (the “Securities Act”), and the rules
promulgated thereunder, the offer and sale in one or more offerings
of an indeterminate amount of its debt securities, which debt
securities are to be issued pursuant to the terms of the Indenture,
dated as of July 19, 2005, between the Company and The Bank of
New York Mellon Trust Company, N.A., a national banking
association, as trustee under the Indenture (the “Indenture
Trustee”), as supplemented to date (the
“Indenture”); and
WHEREAS , the Company desires to issue and sell in an
underwritten public offering (the “Offering”) its debt
securities denominated in British pounds sterling and having an
aggregate principal amount not to exceed £1,000,000,000, a
portion of which debt securities are to be offered and sold
pursuant to the Company’s Registration Statement on Form S-3
(Registration No. 333-156724) (the “Registration
Statement”) and the balance of which debt securities are to
be sold in transactions outside of the United States in reliance on
Regulation S under the Securities Act and otherwise in accordance
with the laws of the countries in which such debt securities are
offered and sold, and to make application for the admission of such
debt securities to the Official List of the Irish Stock Exchange
and for trading on the regulated market of the Irish Stock
Exchange; it is
RESOLVED , that a series of senior, unsecured promissory
notes of the Company in an initial aggregate principal amount not
to exceed £1,000,000,000, that shall mature on a date that
shall be no earlier than the twentieth anniversary of, and no later
than the last day of the first full month next following the
thirtieth anniversary of, the date of initial issuance of notes of
such series (the “March 2009 Notes”) shall be, and it
hereby is, created, established and authorized for issuance and
sale pursuant to the terms of the Indenture; and be it
FURTHER RESOLVED
, that the March 2009 Notes shall
have such terms, including the rate at which interest will accrue
on the Promissory Notes (as defined below) of the March 2009 Notes
and the maturity date thereof, and shall be in such form as shall
be established and approved by one or more of the Chairman of the
Board of Directors, the Chief Executive Officer, any Vice Chairman,
the Chief Financial Officer, any Executive Vice President, any
Senior Vice President, any Vice President, the Controller and the
Treasurer of the Company (each an
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“Authorized Officer”) in accordance
with the provisions of Section 3.01 of the Indenture pursuant
to the authority granted by these resolutions, which approval will
be conclusively evidenced by that Authorized Officer’s or
those Authorized Officers’ execution of a Series Terms
Certificate (as defined in the Indenture) with respect to the March
2009 Notes; and be it
FURTHER RESOLVED
, that the Authorized Officers shall
be, and each of them hereby is, authorized, in the name and on
behalf of the Company, to establish and to approve the terms and
conditions of the March 2009 Notes, to set the aggregate principal
amount of the March 2009 Notes to be sold in the Offering, which
aggregate principal amount shall not exceed £1,000,000,000
(the “Offering Amount”), and to approve the form, terms
and conditions of the promissory notes representing notes in the
March 2009 Notes (the “Promissory Notes”); and be
it
FURTHER RESOLVED
, that the Authorized Officers shall
be, and each of them hereby is, authorized, in the name and on
behalf of the Company, to execute Promissory Notes having an
aggregate principal amount not to exceed the Offering Amount, all
as provided in the Indenture, and to deliver those Promissory Notes
to the Indenture Trustee for authentication and delivery in
accordance with the terms of the Indenture; and
FURTHER RESOLVED
, that the Indenture Trustee shall
be, and it hereby is, authorized and directed to authenticate and
deliver Promissory Notes having an aggregate principal amount not
to exceed the Offering Amount to or upon the written order of the
Company, as provided in the Indenture; and be it
FURTHER RESOLVED
, that the Company shall be and
hereby is authorized, and the Authorized Officers shall be, and
each of them hereby is, authorized and directed to take, or cause
to be taken, for and on behalf of the Company, all actions
necessary or advisable for the Company to make application for and
to effect the admission of the March 2009 Notes or such Promissory
Notes as are outstanding from time to time to the Official List of
the Irish Stock Exchange and for trading on the regulated market of
the Irish Stock Exchange, and, in connection therewith, to prepare,
execute and file all necessary applications, documents, forms and
agreements with the Irish Stock Exchange, to grant all powers of
attorney to Arthur Cox Listing Services Limited, as the
Company’s listing agent with respect to the admission of the
March 2009 Notes or such Promissory Notes as are outstanding from
time to time to the Official List of, and for trading on the
regulated market of, the Irish Stock Exchange, to pay all filing,
listing and application fees and related expenses, and to take any
other action necessary to achieve such admission of the March 2009
Notes or such Promissory Notes as are outstanding from time to time
to the Official List of, and for trading on the regulated market
of, the Irish Stock Exchange; and be it
FURTHER RESOLVED
, the Company shall be and hereby is
authorized, and the Authorized Officers shall be, and each of them
hereby is, authorized and directed, for and on behalf of the
Company, to take, or cause to be taken, all actions, to make all
filings, and pay all fees necessary or advisable, in order to make
application to the Irish Financial Services Regulatory Authority
for, and to obtain, the approval of a prospectus relating to the
offer and sale of Promissory Notes having an aggregate principal
amount not to exceed the Offering Amount in member states of the
European Union, pursuant to the European Union’s Directive
2003/71/EC and the Republic of Ireland’s Prospectus
(Directive 2003/71/EC) Regulations 2005; and be it
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FURTHER RESOLVED
, that the Company shall be, and it
hereby is, authorized to enter into, execute and deliver, and
perform its obligations under, and each Authorized Officer is
authorized to execute and deliver, for and on behalf of the
Company, a Pricing Agreement and an Underwriting Agreement
(collectively, the “Underwriting Agreement”) between
the Company and Goldman Sachs International, Citigroup Global
Markets Limited, HSBC Bank plc and any other underwriters and
managers named therein (collectively, the
“Underwriters”), providing for the sale by the Company
and the purchase by the Underwriters of Promissory Notes having an
aggregate principal amount equal to the Offering Amount as
determined by one or more Authorized Officers, such determination
to be evidenced by the execution and delivery of the Underwriting
Agreement by an Authorized Officer on behalf of the Company, and
any other agreements necessary to effectuate the intent of these
resolutions, the Underwriting Agreement and any other such
agreements to be in the forms and to contain the terms, including
the price to be paid to the Company by the Underwriter for the
Promissory Notes being purchased pursuant to the Underwriting
Agreement, and conditions as the Authorized Officer executing the
same approves, such approval to be conclusively evidenced by that
Authorized Officer’s execution and delivery of the
Underwriting Agreement or other agreement; and be it
FURTHER RESOLVED
, that the Company shall be, and it
hereby is, authorized to sell the Promissory Notes to the
Underwriters pursuant to the Underwriting Agreement at the price
set forth in, and pursuant to the other terms and conditions of,
the Underwriting Agreement; and be it
FURTHER RESOLVED
, that the Company shall be, and it
hereby is, authorized to perform its obligations under the
Promissory Notes issued and sold by the Company and its obligations
under the Indenture, as those obligations relate to those
Promissory Notes; and be it
FURTHER RESOLVED
, that the Company shall be, and it
hereby is, authorized to issue one or more global certificates to
represent the Promissory Notes authorized in accordance with these
resolutions and not otherwise issue the Promissory Notes in
certificated form, and to permit each global certificate
representing Promissory Notes to be registered in the name of a
common depository for, or a nominee of, Clearstream Banking, S.A.,
Luxembourg (“Clearstream”) and Euroclear Bank,
S.A./N.V. (“Euroclear”) or both and beneficial
interests in the global certificates representing the Promissory
Notes to be otherwise shown on, and transfers of such beneficial
interests effected through, records maintained by Clearstream and
Euroclear and their respective participants, as the case may be;
and be it
FURTHER RESOLVED
, that the signatures of the
Authorized Officers executing any Promissory Note may be the manual
or facsimile signatures of the present or any future Authorized
Officers and may be imprinted or otherwise reproduced thereon, and
any such facsimile signature shall be binding upon the Company,
notwithstanding the fact that at the time the Promissory Notes are
authenticated and delivered and disposed of, the person signing the
facsimile signature shall have ceased to be an Authorized Officer;
and be it
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FURTHER RESOLVED,
that the Company shall be, and it
hereby is, authorized to enter into, execute and deliver, and
perform its obligations under, and each Authorized Officer is
authorized to execute and deliver, for and on behalf of the
Company, a paying agent and transfer agent agreement with The Bank
of New York Mellon and a calculation agency agreement with The Bank
of New York Mellon, each of which agreements shall be in such form
and contain such terms and conditions as an Authorized Officer
shall determine to be appropriate, such determination to be
evidenced by the execution and delivery of each of such agreements
by an Authorized Officer for and on behalf of the Company; and be
it
FURTHER RESOLVED
, that, without in any way limiting
the authority heretofore granted to any Authorized Officer, the
Authorized Officers shall be, and each of them individually is,
authorized and empowered to do and perform all such acts and things
and to execute and deliver, for and on behalf of the Company, any
and all documents and instruments and to take any and all such
actions as they may deem necessary, desirable or proper in order to
carry out the intent and purpose of the foregoing resolutions and
fully to establish the March 2009 Notes, to perform the provisions
of the Underwriting Agreement, the Indenture and the Promissory
Notes, to cause the March 2009 Notes or such Promissory Notes as
are outstanding from time to time to be admitted to the Official
List of, and for trading on the regulated market of, the Irish
Stock Exchange, and to incur on behalf of the Company all such
expenses and obligations in connection therewith as they may deem
proper.
Dated this
20 th
day of March
2009
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/s/ Michael T.
Duke
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/s/ S. Robson
Walton
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Michael T.
Duke
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S. Robson
Walton
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