Company: GOOGL
Filing Date: 2025-11-05
Form Type: 424B2
Source: 0001193125-25-267244
Chunk: 16

Company: Alphabet Inc.
Filing Date: 2025-11-05
Form: 424B2
Chunk 16
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 does develop, it may not continue or it may not be sufficiently liquid to allow holders to resell any of the notes. As a result, investors may not be able to liquidate their investment readily, and lenders may not readily accept the notes of such series as collateral for loans. Risk Factors Applicable Solely to the Fixed Rate Notes Redemption may adversely affect your return on the fixed rate notes. We have the right to redeem some or all of the fixed rate notes prior to maturity. We may redeem any series of the fixed rate notes at times when prevailing interest rates may be relatively low. Accordingly, you may not be able to reinvest the amount received upon a redemption in a comparable security at an effective interest rate as high as that of the fixed rate notes. Risk Factors Applicable Solely to the Floating Rate Notes The floating rate notes will bear additional risks. The floating rate notes will bear interest at a floating rate and accordingly carry significant risks not associated with conventional fixed rate notes. These risks include fluctuation of the interest rates and the possibility that you will receive an amount of interest that is lower than expected. We have no control over a number of matters, including economic, financial, political, regulatory and judicial events and conditions, that are important in determining the existence, magnitude and longevity of these risks and their results. The Secured Overnight Financing Rate (“SOFR”) may be more volatile than other benchmark or market rates. Since the initial publication of SOFR, daily changes in SOFR have, on occasion, been more volatile than daily changes in other benchmark or market rates. Although changes in Compounded SOFR generally are not expected to be as volatile as changes in daily levels of SOFR, the return on and value of the floating rate notes may fluctuate more than floating rate notes that are linked to less volatile rates. In addition, the volatility of SOFR has reflected the underlying volatility of the overnight U.S. Treasury repo market. The Federal Reserve Bank of New York has at times conducted operations in the overnight U.S. Treasury repo market in order to help maintain the federal funds rate within a target range. There can be no assurance that the Federal Reserve Bank of New York will continue to conduct such operations in the future, and the duration and extent of any such operations is inherently uncertain. The effect of any such operations, or of the cessation of such operations to the extent they are commenced, is uncertain and could be materially adverse to investors in the floating rate notes. Furthermore, investors should not rely on any historical changes or trends in SO