Exhibit
4(f)


[Face of Note]


Unless
this certificate 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 certificate issued is
registered in the name of Cede & Co. or in such other name as
requested by an authorized representative of DTC (and any payment is made to
Cede & Co. or 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 an interest herein.


	
  CUSIP NO.                        

  	
   

  	
  PRINCIPAL AMOUNT: $                       

  
	
  ISIN                                   

  	
   

  	
   

  
	
  Common Code No.                 

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  REGISTERED NO.       

  	
   

  	
   

  



 


TARGET
CORPORATION


       %
Notes due               


TARGET
CORPORATION, a corporation duly organized and existing under the laws of the
State of Minnesota (hereinafter called the “Company,” which term includes any
successor corporation under the Indenture hereinafter referred to), for value
received, hereby promises to pay to Cede & Co., or registered assigns,
the principal sum of                                                     
Dollars ($                     )
on                         
and to pay interest thereon from                       
or from the most recent Interest Payment Date to which interest has been paid
or duly provided for semi-annually on                        
and                       
of each year, commencing                                      ,
at the rate of          % per
annum, until the principal hereof is paid or made available for payment.  The interest so payable, and punctually paid
or duly provided for, on any Interest Payment Date will, as provided in the
Indenture, be paid to the Person in whose name this Security (or one or more
Predecessor Securities) is registered at the close of business on the Regular
Record Date for such interest next preceding such Interest Payment Date.  The Regular Record Date for an Interest
Payment Date shall be the date 15 calendar days prior that that Interest
Payment Date (whether or not a Business Day). 
“Business Day” as used hereinabove is a day, other than a Saturday or
Sunday, that is neither a legal holiday nor a day on which banking institutions
are authorized or required by law or regulation to close in New York, New York.


Any
interest not punctually paid or duly provided for will forthwith cease to be
payable to the Holder on such Regular Record Date and may either be paid to the
Person in whose name this Security (or one or more Predecessor Securities) is
registered at the close of business on a Special Record Date for the payment of
such Defaulted Interest to be fixed by the Trustee, notice whereof shall be
given to Holders of Securities of this series not less than 10 days prior to
such Special










 



Record Date, or be paid at any
time in any other lawful manner not inconsistent with the requirements of any
securities exchange on which the Securities of this series may be listed, and
upon such notice as may be required by such exchange, all as more fully
provided in the Indenture.


Payment
of interest on this Security will be made in immediately available funds at the
office or agency of the Company maintained for that purpose in New York, New
York in such coin or currency of the United States of America as at the time of
payment is legal tender for payment of public and private debts; provided, however, that, at the option of the Company,
payment of interest may be paid by check mailed to the Person entitled thereto
at such Person’s last address as it appears in the Security Register or by wire
transfer to such account as may have been designated by such Person.  Payment of principal of and interest on this
Security at Maturity will be made against presentation of this Security at the
office or agency of the Company maintained for that purpose in New York, New
York.


Reference
is hereby made to the further provisions of this Security set forth on the
reverse hereof, which further provisions shall for all purposes have the same
effect as if set forth at this place.


Unless
the certificate of authentication hereon has been executed by the Trustee
referred to on the reverse hereof by manual signature, this Security shall not
be entitled to any benefit under the Indenture or be valid or obligatory for
any purpose.










 



IN
WITNESS WHEREOF, the Company has caused this
instrument to be duly executed under its corporate seal.


	
  DATED:

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  TARGET CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
  [SEAL]

  	
   

  
	
   

  	
  Attest:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
						



 


	
  TRUSTEE’S CERTIFICATE OF

  
	
  AUTHENTICATION

  
	
  This is one of the Securities of the

  
	
  series designated therein referred to

  
	
  in the within-mentioned Indenture.

  
	
   

  
	
  THE BANK OF NEW YORK TRUST COMPANY, N.A.,

  
	
  as Trustee

  
	
   

  
	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Authorized Signatory

  



 










 



[Reverse of Note]


TARGET
CORPORATION


           %
Notes due               


This
Security is one of a duly authorized issue of securities of the Company (herein
called the “Securities”), issued and to be issued in one or more series under
an indenture dated as of August 4, 2000, as amended or supplemented from time
to time (herein called the “Indenture”), between the Company and The Bank of New York Trust Company, N.A.  (as
successor in interest to Bank One Trust Company, N.A.), as Trustee (herein
called the “Trustee,” which term includes any successor trustee under the Indenture),
to which Indenture and all indentures supplemental thereto reference is hereby
made for a statement of the respective rights, limitations of rights, duties
and immunities thereunder of the Company, the Trustee and the Holders of the
Securities, and of the terms upon which the Securities are, and are to be,
authenticated and delivered.  This
Security is one of the series designated on the face hereof, such series being
limited in initial aggregate principal amount to $                      ;
provided, however, that the Company may,
without the consent of the Holders of the Securities of this series, issue
additional Securities with the same terms as the Securities of this series, and
such additional Securities shall be considered part of the same series under
the Indenture as the Securities of this series.


The Securities of this series
are not subject to repayment at the option of the Holder hereof prior to                                   .  The Securities of this series will not be
entitled to any sinking fund.


The Securities of this series are redeemable at the option of the
Company at any time, in whole or in part, at a Redemption Price equal to the
greater of the following amounts, plus, in each case, accrued and unpaid
interest thereon to the Redemption Date: 
(i) 100% of the principal amount of the Securities to be redeemed;
and (ii) the sum of the present values of the Remaining Scheduled
Payments.


In determining the present values of the Remaining
Scheduled Payments, such payments will be discounted to the Redemption Date on
a semi-annual basis (assuming a 360-day year consisting of twelve 30-day
months) using a discount rate equal to the Treasury Rate plus      %
(                         
basis points).  The Quotation Agent for
purposes of determining the Redemption Price is                         .


“Treasury Rate” means, with respect to any
Redemption Date, the rate per annum equal to the semi-annual equivalent yield
to maturity or interpolated yield to maturity of the Comparable Treasury
Issue.  In determining this rate, the price
for the Comparable Treasury Issue (expressed as a percentage of its principal
amount) will be assumed to be equal to the Comparable Treasury Price for such
Redemption Date.










 



“Comparable Treasury Issue” means the United
States Treasury security selected by an Independent Investment Banker as having
an actual or interpolated maturity comparable to the remaining term of the
Securities of this series to be redeemed that would be utilized, at the time of
selection and in accordance with customary financial practice, in pricing new
issues of corporate debt securities of comparable maturity to the remaining
term of such Securities.


“Independent Investment
Banker” means each of                                                                                 
or their respective successors as may be appointed from time to time by the Quotation
Agent after consultation with the Company; provided, however,
that if any of the foregoing shall cease to be a primary U.S. Government
securities dealer in New York City (a “primary treasury dealer”),
another primary treasury dealer shall be substituted therefor by the Company.


“Comparable Treasury Price” means (A) the
arithmetic average of the Reference Treasury Dealer Quotations for such
Redemption Date after excluding the highest and lowest Reference Treasury
Dealer Quotations, or (B) if the Quotation Agent obtains fewer than three
Reference Treasury Dealer Quotations, the arithmetic average of all Reference
Treasury Dealer Quotations for such Redemption Date.


“Reference Treasury Dealer Quotations” means,
with respect to each Reference Treasury Dealer and any Redemption Date, the
arithmetic average, as determined by the Quotation Agent, of the bid and asked
prices for the Comparable Treasury Issue (expressed in each case as a
percentage of its principal amount) quoted in writing to the Quotation Agent by
such Reference Treasury Dealer by 3:30 p.m. on the third Business Day preceding
such Redemption Date.


“Reference Treasury Dealer” means each of                                                                  
or their respective successors and any other primary treasury dealer selected
by the Quotation Agent after consultation with the Company.


“Remaining Scheduled Payments” means, with
respect to any Security of this series, the remaining scheduled payments of the
principal and interest thereon that would be due after the related Redemption
Date but for such redemption; provided, however,
that, if such Redemption Date is not an Interest Payment Date with respect to
such Security, the amount of the next scheduled interest payment thereon will
be reduced by the amount of interest accrued thereon to such Redemption Date.


A partial redemption of the Securities of this series may be effected
by such method as the Trustee shall deem fair and appropriate and may provide
for the selection for redemption of a portion of the principal amount of the
Securities of this series equal to an authorized denomination.


Notice of any redemption will be mailed at least 30
days but not more than 60 days before the Redemption Date to each Holder of the
Securities of this series to be redeemed.










 



Unless the Company defaults in payment of the
Redemption Price, on and after the Redemption Date interest will cease to
accrue on the Securities of this series or portions thereof called for
redemption.


If an
Event of Default (as defined in the Indenture) with respect to Securities of
this series shall occur and be continuing, the principal of the Securities of
this series may be declared due and payable in the manner and with the effect
provided in the Indenture.


The
Indenture permits, with certain exceptions as therein provided, the amendment
thereof and the modification of the rights and obligations of the Company and
the rights of the Holders of the Securities of each series to be affected under
the Indenture at any time by the Company and the Trustee with the consent of
the Holders of a majority in principal amount of the Securities at the time
Outstanding of each series to be affected. 
The Indenture also contains provisions permitting the Holders of specified
percentages in principal amount of the Securities of each series at the time
Outstanding, on behalf of the Holders of all Securities of such series, to
waive compliance by the Company with certain provisions of the Indenture and
certain past defaults under the Indenture and their consequences.  Any such consent or waiver by the Holder of
this Security shall be conclusive and binding upon such Holder and upon all
future Holders of this Security and of any Security issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.


The
Indenture contains provisions for defeasance at any time of (i) the entire
indebtedness on this Security and (ii) certain restrictive covenants and
certain Events of Default, upon compliance by the Company with certain
conditions set forth therein, which provisions apply to this Security.


Upon
due presentment for registration of transfer of this Security at the office
or  agency of the Company in New York,
New York, a new Security or Securities of this series in authorized
denominations for an equal aggregate principal amount will be issued to the
transferee in exchange herefor, as provided in the Indenture and subject to the
limitations provided therein and to the limitations described below, without
charge except for any tax or other governmental charge imposed in connection
therewith.


This
Security is exchangeable for definitive Securities in registered form only if
(i) the Depositary notifies the Company that it is unwilling or unable to
continue as Depositary for this Security or if at any time the Depositary
ceases to be a clearing agency registered under the Securities Exchange Act of
1934, as amended, and a successor depositary is not appointed within 90 days, (ii)
the Company, in its sole discretion, determines that this Security shall be
exchangeable for definitive Securities in registered form and notifies the
Trustee thereof or (iii) an Event of Default with respect to the Securities
represented hereby has occurred and is continuing.  If this Security is exchangeable pursuant to
the preceding sentence, it shall be exchangeable for definitive Securities in
registered form, bearing interest at the same rate, having the same date of
issuance, redemption provisions, Stated Maturity and other terms and of
authorized denominations aggregating a like amount.


This
Security may not be transferred except as a whole by the Depositary to a
nominee of the Depositary or by a nominee of the Depositary to the Depositary
or another nominee of the










 



Depositary or by the
Depositary or any such nominee to a successor of the Depositary or a nominee of
such successor.  Except as provided
above, owners of beneficial interests in this global Security will not be entitled
to receive physical delivery of Securities in definitive form and will not be
considered the Holders hereof for any purpose under the Indenture.


No
reference herein to the Indenture and no provision of this Security or of the
Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of and interest on this
Security at the times, place and rate, and in the coin or currency, herein
prescribed, except that in the event the Company deposits money or Government
Obligations as provided in Section 401 or 403 of the Indenture, such
payments will be made only from proceeds of such money or Government
Obligations.


Prior
to due presentment of this Security for registration of transfer, the Company,
the Trustee and any agent of the Company or the Trustee may treat the Person in
whose name this Security is registered as the owner hereof for all purposes,
whether or not this Security be overdue, and neither the Company, the Trustee
nor any such agent shall be affected by notice to the contrary.


No
recourse shall be had for the payment of the principal of or the interest on
this Security, or for any claim based hereon, or otherwise in respect hereof,
or based on or in respect of the Indenture or any indenture supplemental thereto,
against any incorporator, stockholder, officer or director, as such, past,
present or future, of the Company or any successor corporation, whether by
virtue of any constitution, statute or rule of law, or by the enforcement of
any assessment or penalty or otherwise, all such liability being, by the
acceptance hereof and as part of the consideration for the issuance hereof,
expressly waived and released.


All
terms used in this Security which are defined in the Indenture shall have the
meanings assigned to them in the Indenture unless otherwise defined in this
Security.










 



ABBREVIATIONS


The following abbreviations, when used in the
inscription on the face of this instrument, shall be construed as though they
were written out in full according to applicable laws or regulations:


	
  TEN COM

  	
  —

  	
  as tenants in common

  
	
  TEN ENT

  	
  —

  	
  as tenants by the entireties

  
	
  JT TEN

  	
  —

  	
  as joint tenants with right

  
	
   

  	
   

  	
  of survivorship and not

  
	
   

  	
   

  	
  as tenants in common

  



 


	
  UNIF GIFT MIN ACT —  

  	
                                           
  

  	
  Custodian

  	
                                           
  

  	
   

  
	
   

  	
  (Cust)

  	
   

  	
  (Minor)

  	
   

  



 


Under Uniform Gifts to Minors Act


	
                                                 

  	
   

  
	
  (State)

  	
   

  



 


Additional abbreviations may also be used though
not in the above list.


FOR VALUE RECEIVED, the undersigned hereby
sell(s) and transfer(s) unto


Please
Insert Social Security or


Other Identifying Number of Assignee


	
  

  	
   

  
	
   

  
	
   

  
	
   

  



 


(Please print or type
name and address including postal zip code of Assignee)










 



the within Security of TARGET CORPORATION and does
hereby irrevocably constitute and appoint                                    
attorney to transfer the said Security on the books of the Company, with full
power of substitution in the premises.


	
  Dated:

  	
   

  	
   

  



 


	
  

  	
   

  
	
   

  	
   

  



 


 


NOTICE:  The
signature to this assignment must correspond with the name as written upon the
face of the within instrument in every particular, without alteration or
enlargement or any change whatever.