EX-4.2



 Exhibit 4.2 

MasterCard Incorporated 

Officer’s Certificate 

Pursuant to Sections 102 and 301 of the Indenture dated as of March 31, 2014 (the “Indenture”) by and between MasterCard
Incorporated (the “Issuer”) and Deutsche Bank Trust Company Americas, as trustee (the “Trustee”), the undersigned officer does hereby certify, in connection with the issuance of (i) $500,000,000 aggregate principal amount of
2.000% Notes due 2019 (the “2019 Notes”) and (ii) $1,000,000,000 aggregate principal amount of 3.375% Notes due 2024 (the “2024 Notes” and, together with the 2019 Notes, the “Notes”), that the terms of the Notes
are as follows: 
 Capitalized terms used but not otherwise defined herein shall have the meanings specified in the Indenture. 

 

	1.	2019 Notes 

  

			
	 Title
	  	2.000% Notes due 2019
		
	 Issuer
	  	MasterCard Incorporated
		
	 Trustee, Registrar, Transfer Agent, Authenticating Agent, and Paying Agent
	  	Deutsche Bank Trust Company Americas
		
	 Aggregate Principal Amount at Maturity
	  	$500,000,000
		
	 Principal Payment Date
	  	April 1, 2019
		
	 Interest
	  	2.000% per annum
		
	 Date from which Interest will Accrue
	  	March 31, 2014
		
	 Interest Payment Dates
	  	April 1 and October 1, beginning on October 1, 2014
		
	 Record Dates
	  	March 15 and September 15
		
	 Redemption
	  	 The Issuer may at its option redeem the 2019 Notes in whole or in part, at any time or from time to time prior to their maturity, on at least
30 days, but not more than 60 days, prior notice mailed or electronically delivered to the registered address of each holder of record of the 2019 Notes, at a redemption price, calculated by the Issuer, equal to the greater of:

 
 (i) 100% of the principal amount of the 2019 Notes being redeemed; or

 
 (ii) the sum of the present values of the remaining scheduled payments of principal and
interest on the notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at a
rate










			
		  	equal to the sum of the applicable Treasury Rate (as defined in the 2019 Notes) plus 10 basis points, plus, in each case, accrued and unpaid interest thereon to the date of redemption.
		
	 Ranking
	  	The 2019 Notes will be the Issuer’s senior unsecured obligations and will rank equally with the Issuer’s other senior unsecured and unsubordinated debt from time to time outstanding.
		
	 Conversion
	  	None
		
	 Sinking Fund
	  	None
		
	 Denominations
	  	$2,000 and any integral multiple of $1,000 in excess thereof.
		
	 CUSIP/ISIN
	  	57636QAA2 / US57636QAA22
		
	 Miscellaneous
	  	The terms of the 2019 Notes shall include such other terms as are set forth in the form of 2019 Notes attached hereto as Exhibit A and in the Indenture. In addition, the global notes for the 2019 Notes shall include the following
language: “To the extent the terms of the Indenture and this Note are inconsistent, the terms of the Indenture shall govern.”

  

	2.	2024 Notes 

  

			
	 Title
	  	3.375% Notes due 2024
		
	 Issuer
	  	MasterCard Incorporated
		
	 Trustee, Registrar, Transfer Agent, Authenticating Agent, and Paying Agent
	  	Deutsche Bank Trust Company Americas
		
	 Aggregate Principal Amount at Maturity
	  	$1,000,000,000
		
	 Principal Payment Date
	  	April 1, 2024
		
	 Interest
	  	3.375% per annum
		
	 Date from which Interest will Accrue
	  	March 31, 2014
		
	 Interest Payment Dates
	  	April 1 and October 1, beginning on October 1, 2014
		
	 Record Dates
	  	March 15 and September 15
		
	 Redemption
	  	 The Issuer may at its option redeem the 2024 Notes in whole or in part, at any time or from time to time prior to their maturity, on at least
30 days, but not more than 60 days, prior notice mailed or electronically delivered to the registered address of each holder of record of the 2024 Notes, at a redemption price, calculated by the Issuer, equal to the greater of:

 
 (i) 100% of the principal amount of the 2024 Notes being redeemed;
or










			
		
		  	(ii) the sum of the present values of the remaining scheduled payments of principal and interest on the notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a
semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at a rate equal to the sum of the applicable Treasury Rate (as defined in the 2024 Notes) plus 15 basis points, plus, in each case, accrued and unpaid interest thereon to
the date of redemption.
		
	 Ranking
	  	The 2024 Notes will be the Issuer’s senior unsecured obligations and will rank equally with the Issuer’s other senior unsecured and unsubordinated debt from time to time outstanding.
		
	 Conversion
	  	None
		
	 Sinking Fund
	  	None
		
	 Denominations
	  	$2,000 and any integral multiple of $1,000 in excess thereof.
		
	 CUSIP/ISIN
	  	57636QAB0 / US57636QAB05
		
	 Miscellaneous
	  	The terms of the 2024 Notes shall include such other terms as are set forth in the form of 2024 Notes attached hereto as Exhibit B and in the Indenture. In addition, the global notes for the 2024 Notes shall include the following
language: “To the extent the terms of the Indenture and this Note are inconsistent, the terms of the Indenture shall govern.”








 Subject to the covenants described in the Indenture, as amended or supplemented from time to
time, the Issuer shall be entitled, subject to authorization by the Board of Directors of the Issuer and an Officer’s Certificate, to issue additional notes from time to time under each series of Notes issued hereby. Any such additional notes
of a series shall have identical terms as the 2019 Notes or the 2024 Notes, as the case may be, issued on the issue date, other than with respect to the date of issuance and the issue price (together the “Additional Notes”); provided that
if the Additional Notes are not fungible with the 2019 Notes or the 2024 Notes, as the case may be, for U.S. federal income tax purposes, the Additional Notes will have a separate CUSIP and ISIN number, as applicable. Any Additional Notes will be
issued in accordance with Section 301 of the Indenture. 
 The officer has read and understands the provisions of the Indenture and the
definitions relating thereto. The statements made in this Officer’s Certificate are based upon the examination of the provisions of the Indenture and upon the relevant books and records of the Issuer. In such officer’s opinion, such
officer has made such examination or investigation as is necessary to enable such officer to express an informed opinion as to whether or not the covenants and conditions of such Indenture relating to the issuance, authentication and delivery of the
Notes have been complied with. In such officer’s opinion, such covenants and conditions have been complied with. 
 [Signature page
follows] 







 IN WITNESS WHEREOF, the undersigned officer of the Issuer has duly executed this certificate as of March 31,
2014. 
  

					
	MASTERCARD INCORPORATED
		
	By:	 	 /s/ Juan Rajlin

		 	Name:	 	Juan Rajlin
		 	Title:	 	Corporate Treasurer









 EXHIBIT A 

FORM OF NOTE DUE 2019 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”) TO THE COMPANY 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 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 AN INTEREST HEREIN. 
 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE REFERRED TO ON THE
REVERSE HEREOF. TRANSFERS OF THIS GLOBAL SECURITY SHALL BE 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 SHALL BE
LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 







 MASTERCARD INCORPORATED 

2.000% Note due 2019 
  

			
	No.	  	CUSIP: 57636QAA2
		  	ISIN No.: US57636QAA22
		  	$             

 MASTERCARD INCORPORATED, a Delaware corporation (the “Issuer”), for value received promises to pay
to CEDE & CO. or registered assigns the principal sum of              DOLLARS on April 1, 2019. 

Interest Payment Dates: April 1 and October 1 (each, an “Interest Payment Date”), beginning on October 1, 2014. 

Interest Record Dates: March 15 and September 15 (each, an “Interest 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. 







 IN WITNESS WHEREOF, the Issuer has caused this Note to be signed manually or by facsimile by its
duly authorized officer. 
  

					
	MASTERCARD INCORPORATED
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	









 This is one of the Securities of the series designated therein and referred to in the
within-mentioned Indenture. 
  

									
		 		 	Deutsche Bank Trust Company Americas, as Trustee
					
	Date:	 	             , 2014
	 		 	By:	 	  

		 		 		 		 	Authorized Signatory








 (REVERSE OF NOTE) 

MASTERCARD INCORPORATED 

2.000% Notes due 2019 
  

	 	1.	Interest 

 MasterCard Incorporated (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 March 31, 2014. Interest on this Note
will be paid to but excluding the relevant Interest Payment Date. The Issuer will pay interest semi-annually in arrears on each Interest Payment Date, commencing October 1, 2014. Interest will be computed on the basis of a 360-day year
consisting of twelve 30-day months in a manner consistent with Rule 11620(b) of the FINRA Uniform Practice Code. 
 The Issuer shall pay
interest on overdue principal from time to time on demand at the rate borne by the Notes and on overdue installments of interest (without regard to any applicable grace periods) to the extent lawful. 

 

	 	2.	Paying Agent. 

 Initially, Deutsche Bank Trust Company Americas (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 2.000% Notes due 2019 (the
“Notes”) issued under an indenture dated as of March 31, 2014 (the “Base Indenture”) by and between the Issuer and the Trustee, as supplemented by an Officer’s Certificate dated March 31, 2014, issued pursuant to
Section 301 of the Indenture (together with the Base Indenture, the “Indenture”). This Note is a “Security” and the Notes are “Securities” under the Indenture. 

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 Act as in effect on the date on which the Indenture was qualified under the Trust Indenture Act. 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 Trust Indenture Act 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 any integral multiple 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 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 except the unredeemed
portion of any Note being redeemed in part. 
  

	 	5.	Amendment; Supplement; Waiver. 

 Subject to certain exceptions, the Notes and the provisions of
the Indenture relating to the Notes may be amended or supplemented and any existing default or Event of Default or compliance with certain provisions may be waived with the written consent of the Holders of at least a majority in aggregate principal
amount of each series of Outstanding Securities (including the Notes) under the Indenture that is affected by such amendment, supplement or waiver (voting as a single class). Without notice to or consent of any Holder, the parties thereto may amend
or supplement the Indenture and the Notes to, among other things, cure any ambiguity, defect or inconsistency or comply with any requirements of the Commission in connection with the qualification of the Indenture under the Trust Indenture Act, or
make any other change that does not adversely affect the rights of any Holder of a Note. 








	 	6.	Redemption. 

 The Issuer may at its option redeem any of the Notes in whole or in part at any
time, each at a redemption price calculated by the Issuer equal to the greater of: 
 (i) 100% of the principal amount of the Notes to be
redeemed; and 
 (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the notes to be
redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at a rate equal to the sum of the applicable Treasury Rate
(as defined below) plus 10 basis points, plus, in each case, accrued and unpaid interest thereon to the date of redemption. 

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 record date according to the Notes and the Indenture. 

“Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a
maturity comparable to the remaining term (“Remaining Life”) of the notes 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 notes. 
 “Comparable Treasury Price” means, with respect to any
redemption date, (1) the average of the Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer
than four such Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Independent Investment Banker” means
one of the Reference Treasury Dealers that the Issuer shall appoint to act as the Independent Investment Banker from time to time. 

“Reference Treasury Dealer” means (1) each of Citigroup Global Markets Inc., Goldman, Sachs & Co. and Merrill Lynch,
Pierce, Fenner & Smith Incorporated and their respective successors, unless such Reference Treasury Dealer ceases to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), in which case the
Issuer will substitute another Primary Treasury Dealer and (2) any other Primary Treasury Dealers the Issuer selects. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average,
as determined by the Independent Investment Banker, of the bid and asked prices for the applicable Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker by
such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third business day preceding such redemption date. 
 “Treasury
Rate” means, with respect to any redemption date, the rate per year equal to: (1) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release
designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant
maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the applicable Comparable Treasury Issue; provided that, if no maturity is within three months before or after the Remaining Life of the notes to
be redeemed, yields for the two published maturities most closely corresponding to the applicable Comparable Treasury Issue will be determined and the Treasury Rate will be interpolated or extrapolated from those yields on a straight line basis,
rounding to the nearest month; or (2) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per year equal to the semiannual equivalent yield to
maturity of the applicable Comparable Treasury Issue, calculated using a price for the applicable Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the related Comparable Treasury Price for such redemption date.
The Treasury Rate 







 
will be calculated by the Issuer on the third business day preceding the redemption date. As used in the immediately preceding sentence and in the definition of “Reference Treasury Dealer
Quotations” above, the term “business day” means any day, other than a Saturday or Sunday, that is not a day on which banking institutions are authorized or obligated by law or executive order to close in New York City. 

The provisions of Article XI of the Indenture shall apply to any redemption of the Notes. 

Notice of any redemption will be mailed or electronically delivered at least 30 days but not more than 60 days before the redemption date to
each Holder of record of the Notes to be redeemed at its registered address. Unless the Issuer defaults in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the Notes or portions thereof called for
redemption. If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected by the applicable procedures of the Depositary, in the case of Notes represented by a Global Note, or by lot, in the case of Notes that are not
represented by a Global Note. 
  

	 	7.	Defaults and Remedies. 

 If an Event of Default (other than certain bankruptcy Events of Default
with respect to the Issuer) under the Indenture occurs with respect to the Notes and is continuing, then the Trustee may and, at the direction of the Holders of at least 25% in principal amount of the outstanding Notes, shall by written notice,
require the Issuer to repay immediately the entire principal amount of the Outstanding Notes, together with all accrued and unpaid interest and premium, if any. If a bankruptcy Event of Default with respect to the Issuer occurs and is continuing,
then the entire principal amount of the Outstanding Notes together with all accrued and unpaid interest and premium, if any, will automatically become due immediately and payable without any declaration or other act on the part of the Trustee or any
Holder. Holders of Notes may not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee is not obligated to enforce the Indenture or the Notes unless it has received indemnity as it reasonably requires. The Indenture
permits, subject to certain limitations therein provided, Holders of a majority in aggregate principal amount of the Notes then outstanding to direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of Notes
notice of certain continuing defaults or Events of Default if it determines that withholding notice is not opposed to their interest. 
  

	 	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 Indenture and the Notes shall be governed by, and construed in accordance
with, the law of the State of New York. 







 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. 







 SCHEDULE OF EXCHANGES OF NOTES 

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

 

									
	 Date of Exchange
	  	Amount of decrease in
principal amount of this
Global Note	  	Amount of increase in
principal amount of this
Global Note	  	Principal amount of this
Global Note following
such decrease (or
increase)	  	Signature of authorized
officer of Trustee
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	








 EXHIBIT B 

FORM OF NOTE DUE 2024 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”) TO THE COMPANY 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 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 AN INTEREST HEREIN. 
 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE REFERRED TO ON THE
REVERSE HEREOF. TRANSFERS OF THIS GLOBAL SECURITY SHALL BE 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 SHALL BE
LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 







 MASTERCARD INCORPORATED 

3.375% Note due 2024 
  

			
	No.	  	CUSIP No.: 57636QAB0
		  	ISIN No.: US57636QAB05
		  	$            

 MASTERCARD INCORPORATED, a Delaware corporation (the “Issuer”), for value received promises to pay
to CEDE & CO. or registered assigns the principal sum of              DOLLARS on April 1, 2024. 

Interest Payment Dates: April 1 and October 1 (each, an “Interest Payment Date”), beginning on October 1, 2014. 

Interest Record Dates: March 15 and September 15 (each, an “Interest 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. 







 IN WITNESS WHEREOF, the Issuer has caused this Note to be signed manually or by facsimile by its
duly authorized officer. 
  

					
	MASTERCARD INCORPORATED
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	









 This is one of the Securities of the series designated therein and referred to in the
within-mentioned Indenture. 
  

									
		 		 	Deutsche Bank Trust Company Americas, as Trustee
					
	Date:	 	             , 2014
	 		 	By:	 	  

		 		 		 		 	Authorized Signatory








 (REVERSE OF NOTE) 

MASTERCARD INCORPORATED 

3.375% Notes due 2024 
  

	 	1.	Interest 

 MasterCard Incorporated (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 March 31, 2014. Interest on this Note
will be paid to but excluding the relevant Interest Payment Date. The Issuer will pay interest semi-annually in arrears on each Interest Payment Date, commencing October 1, 2014. Interest will be computed on the basis of a 360-day year
consisting of twelve 30-day months in a manner consistent with Rule 11620(b) of the FINRA Uniform Practice Code. 
 The Issuer shall pay
interest on overdue principal from time to time on demand at the rate borne by the Notes and on overdue installments of interest (without regard to any applicable grace periods) to the extent lawful. 

 

	 	2.	Paying Agent. 

 Initially, Deutsche Bank Trust Company Americas (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 3.375% Notes due 2024 (the
“Notes”) issued under an indenture dated as of March 31, 2014 (the “Base Indenture”) by and between the Issuer and the Trustee, as supplemented by an Officer’s Certificate dated March 31, 2014, issued pursuant to
Section 301 of the Indenture (together with the Base Indenture, the “Indenture”). This Note is a “Security” and the Notes are “Securities” under the Indenture. 

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 Act as in effect on the date on which the Indenture was qualified under the Trust Indenture Act. 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 Trust Indenture Act 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 any integral multiple 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 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 except the unredeemed
portion of any Note being redeemed in part. 
  

	 	5.	Amendment; Supplement; Waiver. 

 Subject to certain exceptions, the Notes and the provisions of
the Indenture relating to the Notes may be amended or supplemented and any existing default or Event of Default or compliance with certain provisions may be waived with the written consent of the Holders of at least a majority in aggregate principal
amount of each series of Outstanding Securities (including the Notes) under the Indenture that is affected by such amendment, supplement or waiver (voting as a single class). Without notice to or consent of any Holder, the parties thereto may amend
or supplement the Indenture and the Notes to, among other things, cure any ambiguity, defect or inconsistency or comply with any requirements of the Commission in connection with the qualification of the Indenture under the Trust Indenture Act, or
make any other change that does not adversely affect the rights of any Holder of a Note. 








	 	6.	Redemption. 

 The Issuer may at its option redeem any of the Notes in whole or in part at any
time, each at a redemption price calculated by the Issuer equal to the greater of: 
 (i) 100% of the principal amount of the Notes to be
redeemed; and 
 (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the notes to be
redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at a rate equal to the sum of the applicable Treasury Rate
(as defined below) plus 15 basis points, plus, in each case, accrued and unpaid interest thereon to the date of redemption. 

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 record date according to the Notes and the Indenture. 

“Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a
maturity comparable to the remaining term (“Remaining Life”) of the notes 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 notes. 
 “Comparable Treasury Price” means, with respect to any
redemption date, (1) the average of the Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer
than four such Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Independent Investment Banker” means
one of the Reference Treasury Dealers that the Issuer shall appoint to act as the Independent Investment Banker from time to time. 

“Reference Treasury Dealer” means (1) each of Citigroup Global Markets Inc., Goldman, Sachs & Co. and Merrill Lynch,
Pierce, Fenner & Smith Incorporated and their respective successors, unless such Reference Treasury Dealer ceases to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), in which case the
Issuer will substitute another Primary Treasury Dealer and (2) any other Primary Treasury Dealers the Issuer selects. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average,
as determined by the Independent Investment Banker, of the bid and asked prices for the applicable Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker by
such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third business day preceding such redemption date. 
 “Treasury
Rate” means, with respect to any redemption date, the rate per year equal to: (1) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release
designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant
maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the applicable Comparable Treasury Issue; provided that, if no maturity is within three months before or after the Remaining Life of the notes to
be redeemed, yields for the two published maturities most closely corresponding to the applicable Comparable Treasury Issue will be determined and the Treasury Rate will be interpolated or extrapolated from those yields on a straight line basis,
rounding to the nearest month; or (2) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per year equal to the semiannual equivalent yield to
maturity of the applicable Comparable Treasury Issue, calculated using a price for the applicable Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the related Comparable Treasury Price for such redemption date.
The Treasury Rate 







 
will be calculated by the Issuer on the third business day preceding the redemption date. As used in the immediately preceding sentence and in the definition of “Reference Treasury Dealer
Quotations” above, the term “business day” means any day, other than a Saturday or Sunday, that is not a day on which banking institutions are authorized or obligated by law or executive order to close in New York City. 

The provisions of Article XI of the Indenture shall apply to any redemption of the Notes. 

Notice of any redemption will be mailed or electronically delivered at least 30 days but not more than 60 days before the redemption date to
each Holder of record of the Notes to be redeemed at its registered address. Unless the Issuer defaults in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the Notes or portions thereof called for
redemption. If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected by the applicable procedures of the Depositary, in the case of Notes represented by a Global Note, or by lot, in the case of Notes that are not
represented by a Global Note. 
  

	 	7.	Defaults and Remedies. 

 If an Event of Default (other than certain bankruptcy Events of Default
with respect to the Issuer) under the Indenture occurs with respect to the Notes and is continuing, then the Trustee may and, at the direction of the Holders of at least 25% in principal amount of the outstanding Notes, shall by written notice,
require the Issuer to repay immediately the entire principal amount of the Outstanding Notes, together with all accrued and unpaid interest and premium, if any. If a bankruptcy Event of Default with respect to the Issuer occurs and is continuing,
then the entire principal amount of the Outstanding Notes together with all accrued and unpaid interest and premium, if any, will automatically become due immediately and payable without any declaration or other act on the part of the Trustee or any
Holder. Holders of Notes may not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee is not obligated to enforce the Indenture or the Notes unless it has received indemnity as it reasonably requires. The Indenture
permits, subject to certain limitations therein provided, Holders of a majority in aggregate principal amount of the Notes then outstanding to direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of Notes
notice of certain continuing defaults or Events of Default if it determines that withholding notice is not opposed to their interest. 
  

	 	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 Indenture and the Notes shall be governed by, and construed in accordance
with, the law of the State of New York. 







 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. 







 SCHEDULE OF EXCHANGES OF NOTES 

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

 

									
	 Date of Exchange
	  	Amount of decrease in
principal amount of this
Global Note	  	Amount of increase in
principal amount of this
Global Note	  	Principal amount of this
Global Note following
such decrease (or
increase)	  	Signature of authorized
officer of Trustee