EX-4.8



 Exhibit 4.8 

FORM OF 4.100% SENIOR NOTE DUE 2047 

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY
OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE TRANSFERRED TO, OR REGISTERED OR EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED IN THE NAME OF, ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, AND NO SUCH TRANSFER MAY BE
REGISTERED, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. EVERY SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF, OR IN EXCHANGE FOR OR IN LIEU OF, THIS SECURITY SHALL BE A GLOBAL SECURITY SUBJECT TO THE
FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES. 
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS A BENEFICIAL INTEREST HEREIN. 
 TRANSFERS OF THIS NOTE ARE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY ARE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE TRANSFER PROVISIONS
OF THE INDENTURE. 
 IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND
OTHER INFORMATION AS SUCH TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 

  
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 INTEL CORPORATION 

4.100% Senior Notes due 2047 
  

			
	No. [•]	  	CUSIP No.: 458140AY6
		  	ISIN No.: US458140AY68
		  	$[•]

 INTEL CORPORATION, a Delaware corporation (the “Company”), for value received promises to pay
to CEDE & CO. or registered assigns the principal sum of [•] ($[•]) on May 11, 2047. 
 Interest Payment Dates:
May 11 and November 11 (each, an “Interest Payment Date”), commencing on November 11, 2017. 
 Interest
Record Dates: April 27 and October 28 (each, a “Regular Record Date”). 
 Reference is made to the further
provisions of this Note contained herein, which will for all purposes have the same effect as if set forth at this place. 

  
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 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

			
	INTEL CORPORATION
		
	By:	 	  

	Name:	 	Ravi Jacob
	Title:	 	Vice President and Treasurer


 [Signature Page to Note] 







 This is one of the Notes of the series designated herein and referred to in the within-mentioned
Indenture. 
 Dated: May 11, 2017 
  

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee

		
	By:	 	  

		 	Authorized Signatory


 [Trustee Signature Page to Note] 







 (REVERSE OF NOTE) 

INTEL CORPORATION 
 4.100% Senior
Notes due 2047 
 1. Interest. 

Intel Corporation (the “Issuer”) promises to pay interest on the principal amount of this Note at the rate per annum described
above. Cash interest on the Notes will accrue from the most recent date to which interest has been paid; or, if no interest has been paid, from May 11, 2017. Interest on this Note will be paid to but excluding the relevant Interest Payment Date
or on such earlier date as the principal amount shall become due in accordance with the provisions hereof. The Issuer will pay interest semi- annually in arrears on each Interest Payment Date, beginning on November 11, 2017. If any Interest
Payment Date, Stated Maturity or other payment date with respect to the Notes is not a Business Day, the required payment of principal, premium, if any, or interest will be due on the next succeeding Business Day as if made on the date that such
payment was due, and no interest will accrue on that payment for the period from and after that Interest Payment Date, Stated Maturity or other payment date, as the case may be, to the date of that payment on the next succeeding Business Day.
Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. 

The Issuer shall pay interest on overdue principal from time to time on demand at the rate borne by the Notes and at the same rate on overdue
installments of interest (without regard to any applicable grace periods) to the extent lawful from the dates such amounts are due until such amounts are paid or made available for payment. 

2. Paying Agent. 
 Initially,
Wells Fargo Bank, National Association (the “Trustee”) will act as Paying Agent. The Issuer may change any Paying Agent without notice to the Holders. 

3. Indenture; Defined Terms. 

This Note is one of the 4.100% Senior Notes due 2047 (the “Notes”) issued under the Indenture dated as of March 29, 2006,
as amended by the First Supplemental Indenture dated as of December 3, 2007 (together, the “Base Indenture”) and, as amended, modified and supplemented by the Ninth Supplemental Indenture dated as of May 11, 2017 (the
“Ninth Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), by and between the Issuer and the Trustee, as trustee. This Note is a “Security” and the Notes are
“Securities” under the Indenture. Each series of Securities issued under the Ninth Supplemental Indenture (together with any other Securities thereafter issued and included in any such series) is referred to herein as an “Other
Series of 2017 Notes” and, together with the Notes, as the “2017 Notes.” 
 For purposes of this Note, unless
otherwise defined herein, capitalized terms herein are used as defined in the Indenture. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture


  
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Act of 1939 (15 U.S.C. Sections 77aaa-77bbbb) (the “TIA”) as in effect on the date on which the Indenture was qualified under the TIA. Notwithstanding anything to the contrary
herein, the Notes are subject to all such terms, and Holders of Notes are referred to the Indenture and the TIA for a statement of them. To the extent the terms of the Indenture and this Note are inconsistent, the terms of the Indenture shall
govern. 
 4. Denominations; Transfer; Exchange. 

The Notes are in registered form, without coupons, in denominations of $2,000 and multiples of $1,000 in excess thereof. A Holder shall
register the transfer or exchange of Notes in accordance with the Indenture. The Issuer may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay certain transfer taxes or similar governmental
charges payable in connection therewith as permitted by the Indenture. The Issuer need not issue, authenticate, register the transfer of or exchange any Notes or portions thereof for a period of fifteen (15) days before the electronic delivery
or mailing of a notice of redemption, nor need the Issuer register the transfer or exchange of any Note selected for redemption in whole or in part. 

5. Amendment; Modification; Waiver. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of
the Issuer and the rights of the Holders of each series of 2017 Notes affected under the Indenture at any time by the Issuer and the Trustee with the consent of the Holders of not less than a majority in aggregate principal amount of the 2017 Notes
at the time Outstanding of all series of 2017 Notes affected thereby. The Indenture contains provisions permitting the Holders of not less than a majority in principal amount of the Securities of a series at the time Outstanding with respect to
which a default under the Indenture shall have occurred and be continuing, on behalf of the Holders of all Securities of such series, to waive, with certain exceptions, such past default with respect to such series and its consequences. The
Indenture also permits the Holders of not less than a majority in aggregate principal amount of the 2017 Notes at the time Outstanding of all series of 2017 Notes (voting together as a single class), on behalf of the Holders of all Securities of
such series, to waive future compliance by the Issuer with certain provisions of the Indenture. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of
any Security issued upon the registration of transfer hereof or in exchange therefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. Without notice to or consent of any Holder, the Indenture also permits
the amendment or supplement thereof to, among other things, cure any ambiguity, defect or inconsistency or comply with any requirements of the Commission in connection with qualifications of the Indenture under the TIA, or make any other change that
does not adversely affect the rights of Holders in any material respect. 

  
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 6. Optional Redemption. 

The Issuer may redeem the Notes in whole or in part, at its option, at any time or from time to time prior to Maturity (the date of such
redemption, the “Redemption Date”). The Redemption Price prior to November 11, 2046 (the “Applicable Par Call Date”) will be equal to the greater of: 

(i) 100% of the aggregate principal amount of the Notes to be redeemed; or 

(ii) the sum, as determined by the Independent Investment Banker based on the Reference Treasury Dealer Quotations, of the
present values of the Remaining Scheduled Payments, discounted to the Redemption Date on a semi- annual basis (assuming a 360-day year consisting of twelve 30-day
months), using a rate equal to the Treasury Rate plus 20 basis points (such sum to be calculated as set forth in the Indenture), 
 plus, in the case of
(i) or (ii), accrued interest thereon to, but not including, the Redemption Date. 
 In the case of any redemption with a Redemption Date on or after
the Applicable Par Call Date, the Redemption Price will equal 100% of the aggregate principal amount of the Notes to be redeemed, plus accrued interest thereon to, but not including, the Redemption Date. 

Notwithstanding the foregoing, installments of interest on Notes that are due and payable on Interest Payment Dates falling on or prior to a
Redemption Date will be payable on the Interest Payment Date to the registered Holders as of the close of business on the relevant Regular Record Date according to the Notes and the Indenture, subject to the applicable procedures of the Depositary.

 On and after the Redemption Date for the Notes, interest will cease to accrue on the Notes or any portion thereof called for redemption,
unless the Issuer defaults in the payment of the Redemption Price and accrued interest, if any. On or before the Redemption Date for the Notes, the Issuer shall deposit with the Trustee or a Paying Agent, funds sufficient to pay the Redemption Price
of the Notes to be redeemed on the Redemption Date. If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected by the Trustee by lot, on a pro-rata basis or by such method as
the Trustee deems fair and appropriate and subject, in the case of Notes represented by Global Securities, to the applicable procedures of the Depositary; provided, however that in no event, shall Notes of a principal amount of $2,000 or less
be redeemed in part. 
 Notice of any redemption shall be electronically delivered or mailed at least 30 days (in the case of any Redemption
Date prior to the Applicable Par Call Date) or 15 days (in the case of any Redemption Date on or after the Applicable Par Call Date) but, in each case, not more than 60 days before the Redemption Date to each Holder of the Notes to be redeemed. Such
notice shall state the Redemption Price (if known) or the formula pursuant to which the Redemption Price is to be determined if the Redemption 

  
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Price cannot be determined at the time the notice is given. If the Redemption Price cannot be determined at the time such notice is to be given, the actual Redemption Price, calculated as set
forth in the Indenture, shall be set forth in an Officer’s Certificate of the Issuer delivered to the Trustee no later than two Business Days prior to the Redemption Date. Notice of redemption having been given as provided in the Indenture, the
Notes called for redemption shall become due and payable on the Redemption Date and at the applicable Redemption Price. 
 7. Defaults and
Remedies. 
 If an Event of Default with respect to the Notes occurs and is continuing, then in every such case the Trustee or the Holders of
not less than 25% in principal amount of the Outstanding Notes may declare the principal amount of all the Notes to be due and payable immediately, by a notice in writing to the Issuer (and to the Trustee if given by Holders), and upon any such
declaration such principal amount (or specified amount) shall become immediately due and payable. 
 The Indenture permits, subject to
certain limitations therein provided, Holders of not less than a majority in aggregate principal amount of the Outstanding Notes to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising
any trust or power conferred on the Trustee, with respect to the Notes. 
 8. Authentication. 

This Note shall not be valid until the Trustee manually signs the certificate of authentication on this Note. 

9. Abbreviations and Defined Terms. 

Customary abbreviations may be used in the name of a Holder of a Note or an assignee, such as: TEN COM (= tenants in common), TEN ENT (=
tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

10. CUSIP Numbers. 
 Pursuant to
a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Issuer has caused CUSIP numbers to be printed on the Notes as a convenience to the Holders of the Notes. No representation is made as to the accuracy of
such numbers as printed on the Notes and reliance may be placed only on the other identification numbers printed hereon. 
 11. Governing
Law. 
 The laws of the State of New York shall govern the Indenture and this Note without regard to conflicts of laws principles thereof.


  
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 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
 I or we assign
and transfer this Note to 
 (Print or type assignee’s name, address and zip code) 

(Insert assignee’s soc. sec. or tax I.D. No.) 

and irrevocably appoint                     agent to
transfer this Note on the books of the Issuer. The agent may substitute another to act for him. 
  

									
	  

					
	 Date:
	 	  
	 		 	Your Signature:	 	  

	
	  

	Sign exactly as your name appears on the other side of this Note.
					
		 		 		 	Signature	 	
				
	 Signature Guarantee:
	 		 		 	
			
	  
	 		 	  

	 Signature must be guaranteed
	 		 	 Signature
	 	

 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the
Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to,
or in substitution for, STAMP, all in accordance with the United States Securities Exchange Act of 1934, as amended. 

  
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 SCHEDULE OF EXCHANGES OF NOTES 

The following exchanges of a part of this Global Security for certificated Notes or a part of another Global Security have been made: 

 

									
	 Date of

Exchange
	  	 Amount of decrease

in principal amount
 of this
Global Security
	  	 Amount of increase

in principal amount
 of this
Global
 Security
	  	 Principal amount of

this Global Security

following such
 decrease
(or
 increase)
	  	 Signature of

authorized officer of
Trustee



  
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