Company: GLPI
Filing Date: 2025-08-13
Form Type: 424B5
Source: 0001193125-25-179509
Chunk: 35

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-08-13
Form: 424B5
Chunk 35
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 on , 20 . The 20 notes will not be entitled to the benefit of any sinking fund. Interest on the 20 notes will accrue at the rate of % per annum and will be payable semi-annually in arrears on and , commencing , 2026. The Issuers will make each interest payment on the 20 notes to the holders of record on the immediately preceding and . Interest on the notes will accrue from the date of original issuance or, if interest has already been paid, from the date it was most recently paid. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If any interest payment date, redemption date, repurchase date or maturity date falls on a day that is not a business day, the required payment of principal, premium, if any, and/or interest may be made on the next succeeding business day as if made on the date such payment was due, and no interest will accrue on such payment for the period from and after such interest payment date, redemption date, repurchase date or maturity date, as the case may be, to the date of such payment on the next succeeding business day. Redemption Optional Redemption Prior to ( months prior to their maturity date) (the “20 Par Call Date”), the Issuers may redeem the 20 notes at their option, in whole or in part, at any time and from time to time, at a redemption price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of:

| (1) | (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon                                                        
 discounted to the redemption date (assuming the 20 notes matured on the 20 Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 
 30-day months) at the Treasury Rate    plus    basis points less (b) interest accrued to the date of redemption, and                                           |

| (2) | 100% of the principal amount of the 20 notes to be redeemed, |

plus, in either case, accrued and unpaid interest thereon to the redemption date (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date). On or after the 20 Par Call Date, the Issuers may redeem the