Exhibit 4.6



 Exhibit 4.6 
  

			
	 Registered
	  	Registered

 PEOPLE’S UNITED FINANCIAL, INC. 

3.65% SENIOR NOTES DUE 2022 
 This Security is not a deposit or other obligation of a depository institution and is not insured by the Federal Deposit Insurance Corporation or by any other government entity. 

This Security is a Global Security within the meaning of the Indenture hereinafter referred to and is registered in the name of
Cede & Co., the nominee of The Depository Trust Company (the “Depositary”). This Global Security is exchangeable for Securities registered in the name of a Person other than the Depositary or its nominee only in the limited
circumstances described in the Indenture, and no transfer of this Security (other than a transfer of this Security 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) may be registered except in such limited circumstances. The Depositary will not sell, assign, transfer or otherwise convey any beneficial interest in this Global Security unless such beneficial interest is in an amount equal to an
authorized denomination for Securities of the series, and the Depositary, by its acceptance hereof, agrees to be so bound. 

Unless this Security is presented by an authorized representative of the Depositary to People’s United Financial, Inc. or its agent
for registration of transfer, exchange or payment, and any Security issued is registered in the name of Cede & Co. or such other name as is requested by an authorized representative of the Depositary (and any payment is made to
Cede & Co. or to such other entity as is an authorized representative of the Depositary), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner hereof, Cede &
Co., has an interest herein. 
  








			
	 No. R-l
	  	$500,000,000
	 CUSIP No: 712704AA3
	  	
	 ISIN No: US712704AA31
	  	

 PEOPLE’S UNITED FINANCIAL, INC., a corporation duly incorporated and existing under the laws of the
State of Delaware (herein 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 
 FIVE HUNDRED MILLION DOLLARS ($500,000,000) 
 on December 6, 2022 and to pay interest thereon from December 6, 2012 or from the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for, on
June 6 and December 6 of each year (each, an “Interest Payment Date”), commencing June 6, 2013, at the rate of 3.65% per annum, until the principal hereof is paid or duly provided for. 

The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date shall, as provided
in the Indenture referred to on the reverse hereof, 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, which shall be the
15th calendar day prior to the Interest Payment Date.

 In the event that any Interest Payment Date or the Stated Maturity falls on a day that is not a business day, the interest or
principal payment due on that date will be paid on the next day that is a business day, and such payment shall be made on that business day with the same force and effect as if made on the Interest Payment Date or the Stated Maturity, as the case
may be, without any interest or other payment with respect to the delay. A “business day” is any day, other than a Saturday, Sunday or other day that, in New York City, banking institutions generally are authorized or obligated by law or
executive order to close. 
 Any such interest not so punctually paid or duly provided for shall 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 the 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 required by such exchange, all as more fully provided in said Indenture. 

Payment of the principal of (and premium, if any) and interest on this Security will be made at the principal office of the Trustee, at
which at any particular time its corporate trust business shall be administered, 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 made by check mailed to the address of the Person
entitled thereto as such address shall appear in the Security Register. 
 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, or an Authenticating Agent, 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. 

Dated: December 6, 2012 
 PEOPLE’S
UNITED FINANCIAL, INC. 
  

			
	 By:
	 	 
		 	Name: John P. Barnes
		 	Title: President and Chief Executive Officer

  

			
	 Attest:
	 	 
		 	Name: Robert Trautmann
		 	Title: Senior Executive Vice President,
		 	        General Counsel and Secretary

 [Signature Page to Note] 







 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 MELLON, as Trustee 

 

			
	 By:
	 	 
		 	      Authorized Signatory

 [Signature Page to Note] 







 [REVERSE OF SECURITY] 

3.65% SENIOR NOTES DUE 2022 
 This Security is one of a duly authorized issue of senior debt securities of the Company (herein called the “Securities”) of the series hereinafter specified, all issued or to be issued under
and pursuant to the Senior Debt Indenture, dated as of December 6, 2012 (herein called the “Indenture”), between the Company and The Bank of New York Mellon, as Trustee (herein called the “Trustee,” which term includes any
successor trustee under the Indenture), duly executed and delivered by the Company. Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the respective rights, limitations of rights, obligations,
duties and immunities thereunder of the Trustee, the Company and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. Terms defined in the Indenture are used herein as so defined.
The Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may mature at different times, may bear interest, if any, at different rates, may be subject to different redemption
provisions, if any, may be subject to different sinking funds, if any, may be subject to different covenants and Events of Default and may otherwise vary as provided in the Indenture. This Security is one of the series designated as the 3.65% Senior
Notes due 2022 of the Company (herein called the “Notes”), which series shall have a current aggregate principal amount of $500,000,000, which principal amount may be increased from time to time through the issuance of additional Notes.

 Interest on this Security shall be computed on the basis of a 360-day year consisting of twelve 30-day months. 

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 premium, if any) and interest (if any) on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 

This Security is not subject to any sinking fund. 
 The Security is subject to redemption upon not less than 30 days’ nor more than 60 days’ notice by mail at any time prior to September 6, 2022 (the date falling three months prior to the
maturity date), as a whole or in part, at the election of the Company, at a redemption price equal to the greater of: 
  

	 	•	 	 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to the redemption date, or 



 

	 	•	 	 the sum of the present values of the remaining principal amount and scheduled payments of interest through the maturity date on the notes to be
redeemed (not including any portion of payments of interest accrued as of the redemption date) discounted to the redemption date on a semi-annual basis at the Treasury Rate plus 35 basis points plus accrued and unpaid interest to the redemption
date. 









 
“Treasury Rate” means, with respect to any redemption date, the rate per year equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated on the
third business day preceding the redemption date, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for that redemption date. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Independent Investment Banker as having an
actual or interpolated maturity comparable to the remaining term of the notes that would be used, 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 the notes. 
 “Comparable Treasury Price” means, with respect to any redemption date:

  

	 	•	 	 the average of the Reference Treasury Dealer Quotations for that redemption date, after excluding the highest and lowest of the Reference Treasury
Dealer Quotations, or 


  

	 	•	 	 if the Company obtains fewer than five Reference Treasury Dealer Quotations, the average of all Reference Treasury Dealer Quotations so received.



 “Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the
Company. 
 “Reference Treasury Dealer” means each of (1) J.P. Morgan Securities LLC and or any of its affiliates,
and its successors, and (2) any four or more other primary U.S. Government securities dealers in New York City selected by the Company (each a “Primary Treasury Dealer”); provided, however, that if any of the foregoing shall cease to
be a Primary Treasury Dealer, the Company shall substitute therefor another Primary Treasury Dealer. 
 “Reference Treasury
Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Company, 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 Company by that Reference Treasury Dealer at 3:30 p.m., New York City time, on the third business day preceding that redemption date. 

In addition, at the Company’s option, the Company may redeem the Notes, in whole or in part, at any time on or following
September 6, 2022 (the date falling three months prior to the maturity date) at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to the redemption date. 

The Indenture contains provisions for defeasance at any time of (a) the entire indebtedness evidenced by this Security and
(b) certain restrictive covenants, in each case upon compliance by the Company with certain conditions set forth therein, which provisions apply to this Security. 







 If an Event of Default 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. Upon payment (i) of the amount of principal so declared due and payable and (ii) of
interest on any overdue principal and overdue interest (in each case to the extent that the payment of such interest shall be legally enforceable), all of the Company’s obligations in respect of the payment of the principal of (and premium, if
any) and interest, if any, on the Securities of this series shall terminate. 
 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. 
 As provided in the
Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place
where the principal of (and premium, if any) and interest (if any) on this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by,
the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this series, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or
transferees. 
 The Securities of this series are issuable only in registered form without coupons in denominations of $2,000
and any larger integral multiples of $1,000. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series of like
tenor of a different authorized denomination, as requested by the Holder surrendering the same. 
 No service charge shall be
made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

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 for the payment of the principal of (or premium, if any) or interest on this
Security or for any claim based hereon or otherwise in respect hereof, and no recourse under or upon any obligation, covenant or agreement of the Company in the Indenture or any indenture supplemental thereto or in this Security, or because of the
creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or of any successor corporation, either directly or through 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
issue hereof, expressly waived and released by each holder of this Security. 
 All terms used in this Security which are
defined in the Indenture shall have the meanings assigned to them in the Indenture. 
 This Security shall be governed by and
construed in accordance with the laws of the State of New York.