notes to consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) debt transactions see note 6 for further information regarding the company 2019s acquisition of acxiom ( the 201cacxiom acquisition 201d ) on october 1 , 2018 ( the 201cclosing date 201d ) . senior notes on september 21 , 2018 , in order to fund the acxiom acquisition and related fees and expenses , we issued a total of $ 2000.0 in aggregate principal amount of unsecured senior notes ( in four separate series of $ 500.0 each , together , the 201csenior notes 201d ) . upon issuance , the senior notes were reflected on our consolidated balance sheets net of discount of $ 5.8 and net of the capitalized debt issuance costs , including commissions and offering expenses of $ 16.1 , both of which will be amortized in interest expense through the respective maturity dates of each series of senior notes using the effective interest method . interest is payable semi-annually in arrears on april 1st and october 1st of each year , commencing on april 1 , 2019 . the issuance was comprised of the following four series of notes : senior notes par value discount at issuance net price at issuance issuance cost net proceeds .

Table:
senior notes | par value | discount at issuance | net price at issuance | issuance cost | net proceeds
3.50% ( 3.50 % ) senior notes due 2020 | $ 500.0 | $ 1.0 | $ 499.0 | $ 2.9 | $ 496.1
3.75% ( 3.75 % ) senior notes due 2021 | 500.0 | 0.3 | 499.7 | 3.2 | 496.5
4.65% ( 4.65 % ) senior notes due 2028 | 500.0 | 1.7 | 498.3 | 4.4 | 493.9
5.40% ( 5.40 % ) senior notes due 2048 | 500.0 | 2.8 | 497.2 | 5.6 | 491.6
total | $ 2000.0 | $ 5.8 | $ 1994.2 | $ 16.1 | $ 1978.1
consistent with our other debt securities , the newly issued senior notes include covenants that , among other things , limit our liens and the liens of certain of our consolidated subsidiaries , but do not require us to maintain any financial ratios or specified levels of net worth or liquidity .
we may redeem each series of the senior notes at any time in whole or from time to time in part in accordance with the provisions of the indenture , including the applicable supplemental indenture , under which such series of senior notes was issued .
if the acxiom acquisition had been terminated or had not closed on or prior to june 30 , 2019 , we would have been required to redeem the senior notes due 2020 , 2021 and 2028 at a redemption price equal to 101% ( 101 % ) of the principal amount thereof , plus accrued and unpaid interest .
additionally , upon the occurrence of a change of control repurchase event with respect to the senior notes , each holder of the senior notes has the right to require the company to purchase that holder 2019s senior notes at a price equal to 101% ( 101 % ) of the principal amount thereof , plus accrued and unpaid interest , unless the company has exercised its option to redeem all the senior notes .
term loan agreement on october 1 , 2018 , in order to fund the acxiom acquisition and related fees and expenses , we borrowed $ 500.0 through debt financing arrangements with third-party lenders under a three-year term loan agreement ( the 201cterm loan agreement 201d ) , $ 100.0 of which we paid down on december 3 , 2018 .
consistent with our other debt securities , the term loan agreement includes covenants that , among other things , limit our liens and the liens of certain of our consolidated subsidiaries .
in addition , it requires us to maintain the same financial maintenance covenants as discussed below .
loans under the term loan bear interest at a variable rate based on , at the company 2019s option , either the base rate or the eurodollar rate ( each as defined in the term loan agreement ) plus an applicable margin that is determined based on our credit ratings .
as of december 31 , 2018 , the applicable margin was 0.25% ( 0.25 % ) for base rate loans and 1.25% ( 1.25 % ) for eurodollar rate loans. .

Question: what is the average price at issuance?
Answer: 498.55
Calculation: divide(1994.2, const_4)