Document:

<PAGE>
                                                                     Exhibit 4.2

                     INTERNATIONAL LEASE FINANCE CORPORATION
                           MEDIUM-TERM NOTE, SERIES P
                                 (FLOATING RATE)

REGISTERED                                                            REGISTERED

NO. FLR-
CUSIP-

If this Security is registered in the name of The Depository Trust Company (the
"Depositary") (55 Water Street, New York, New York) or its nominee, 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 Depositary or a nominee of such successor Depositary unless and until
this Security is exchanged in whole or in part for Debt Securities in definitive
form. Unless this certificate is presented by an authorized representative of
the Depositary 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 such other name as requested by an authorized representative of
the Depositary and any payment is made to Cede & Co., 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.

REQUIRED TERMS

DESIGNATION:

PRINCIPAL AMOUNT:

ISSUE PRICE:

ORIGINAL ISSUE DATE:

STATED MATURITY:

INTEREST RATE BASIS OR BASES:

INITIAL INTEREST RATE:

INTEREST PAYMENT DATES:

INTEREST RATE RESET PERIOD:

INDEX MATURITY:
<PAGE>
PRESET TERMS

INTEREST RESET DATES:

INTEREST DETERMINATION DATES:

CALCULATION DATES:

REGULAR RECORD DATES:

OPTIONAL TERMS

SPREAD:

SPREAD MULTIPLIER:         %

MAXIMUM INTEREST RATE:

MINIMUM INTEREST RATE:

OVERDUE RATE:

REDEEMABLE ON OR AFTER:

OPTIONAL REPAYMENT DATE:

FIXED INTEREST RATE:

FIXED RATE COMMENCEMENT DATE:

REPURCHASE PRICE (for Discount Securities):

OPTIONAL RESET DATES:

EXTENSION PERIODS:

FINAL MATURITY:

OTHER PROVISIONS:
<PAGE>
                  INTERNATIONAL LEASE FINANCE CORPORATION, a California
corporation (hereinafter called the "Company," which term includes any successor
corporation under the Indenture, as hereinafter defined), for value received,
hereby promises to pay to Cede & Co., or registered assigns, the principal sum
set forth above at Stated Maturity shown above and to pay interest thereon from
the Original Issue Date shown above or from the most recent Interest Payment
Date (as hereinafter defined) to which interest has been paid or duly provided
for, in arrears on the Interest Payment Dates set forth above ("Interest Payment
Dates"), until the principal hereof is paid or made available for payment, and
on Stated Maturity, commencing with the Interest Payment Date next succeeding
the Original Issue Date, at the rate per annum determined in accordance with the
provisions below, depending on the Interest Rate Basis or Bases specified above.
Interest will be payable on each Interest Payment Date and at Stated Maturity or
upon redemption or optional repayment. Interest will be payable to the Holder at
the close of business on the Regular Record Date which, unless otherwise
specified above, shall be the fifteenth calendar day (whether or not a Business
Day (as defined below)) immediately preceding the related Interest Payment Date;
provided, however, that interest payable at Stated Maturity or upon redemption
or optional repayment will be payable to the person to whom principal is payable
and (to the extent that the payment of such interest shall be legally
enforceable) at the Overdue Rate, if any, per annum set forth above on any
overdue principal and premium and on any overdue installment of interest. If the
Original Issue Date is between a Regular Record Date and the next succeeding
Interest Payment Date, the first payment of interest hereon will be made on the
Interest Payment Date following the next succeeding Regular Record Date to the
Holder on such next Regular Record Date.

                  Payment of the principal, and premium, if any, and interest
payable at Stated Maturity or upon redemption or optional repayment of this
Security will be made in immediately available funds at the corporate trust
office or agency of the Trustee in New York, New York, provided that this
Security is presented to the Trustee in time for the Trustee to make such
payments in such funds in accordance with its normal procedures. Interest (other
than interest payable at Stated Maturity or upon redemption or optional
repayment) will be paid by check mailed to the address of the person entitled
thereto as it appears in the Security Register on the applicable Regular Record
Date or, at the option of the Company, by wire transfer to an account maintained
by such person with a bank located in the United States. Notwithstanding the
foregoing, (1) the Depositary or its nominee, if it is the registered Holder of
this Security, will be entitled to receive payments of interest (other than at
Stated Maturity or upon redemption or optional repayment) by wire transfer to an
account maintained by such Holder with a bank located in the United States, and
(2) a Holder of $10,000,000 or more in aggregate principal amount of Securities
having the same Interest Payment Date will, upon receipt on or prior to the
Regular Record Date preceding an applicable Interest Payment Date by the Trustee
of written instructions from such Holder, be entitled to receive payments of
interest (other than at Stated Maturity or upon redemption or optional
repayment) by wire transfer to an account maintained by such Holder with a bank
located in the United States. Such instructions shall remain in effect with
respect to payments of interest made to such Holder on subsequent Interest
Payment Dates unless revoked or changed by written instructions received by the
Trustee from such Holder, provided that any such written revocation or change
which is received by the Trustee after a Regular Record Date and before the
related Interest Payment Date shall not be effective with respect to the
interest payable on such Interest Payment Date.

                  This Security is one of a duly authorized issue of Medium-Term
Notes, Series P of the Company (herein called the "Securities"), issued and to
be issued under an Indenture dated as of November 1, 2000 (herein called the
"Indenture") between the Company and The Bank of New York, as trustee (herein
called the "Trustee," which term includes any successor trustee under the
Indenture), as amended, to which the Indenture and all indentures supplemental
thereto reference is hereby made for a statement of the respective rights,
limitation 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. The Securities of this series may
be issued from time to time at varying maturities, interest rates and other
terms as may be designated with respect to a Security.

                  After the completion of the issuance for which this Security
is a part, the Company may, from time to time, reopen such issuance and issue
additional Securities with the same terms (including maturity and interest
payment terms) as this Security. After such additional Securities are issued,
they will be fungible with this Security.
<PAGE>
                  The interest rate borne by this Security shall be determined
as follows:

         -        Unless this Security is designated as a "Floating Rate/Fixed
                  Rate Note," an "Inverse Floating Rate Note" or as having an
                  Addendum attached, this Security shall be designated as a
                  "Regular Floating Rate Note" and, except as described below or
                  as specified on the face hereof, bear interest at the rate
                  determined by reference to the Interest Rate Basis or Bases
                  specified on the face hereof (a) plus or minus the Spread, if
                  any, specified on the face hereof and/or (b) multiplied by the
                  Spread Multiplier, if any, specified on the face hereof.
                  Commencing on the first Interest Reset Date (as defined
                  below), the rate at which interest on this Security shall be
                  payable shall be reset as of each Interest Reset Date;
                  provided, however, that the interest rate in effect for the
                  period from the Original Issue Date to the first Interest
                  Reset Date shall be the Initial Interest Rate specified on the
                  face hereof.

         -        If this Security is designated as a "Floating Rate/Fixed Rate
                  Note," then, except as described below or as specified on the
                  face hereof, this Security shall bear interest at the rate
                  determined by reference to the Interest Rate Basis or Bases
                  specified on the face hereof (a) plus or minus the Spread, if
                  any, specified on the face hereof and/or (b) multiplied by the
                  Spread Multiplier, if any, specified on the face hereof.
                  Commencing on the first Interest Reset Date, the rate at which
                  interest on this Security shall be payable shall be reset as
                  of each Interest Reset Date; provided, however, that the
                  interest rate in effect for the period from the Original Issue
                  Date to the first Interest Reset Date shall be the Initial
                  Interest Rate specified on the face hereof and the interest
                  rate in effect commencing on the Fixed Rate Commencement Date
                  specified on the face hereof to Stated Maturity shall be the
                  Fixed Interest Rate, if such rate is specified on the face
                  hereof or, if no such Fixed Interest Rate is so specified, the
                  interest rate in effect hereon on the day immediately
                  preceding the Fixed Rate Commencement Date.

         -        If this Security is designated as an "Inverse Floating Rate
                  Note," then, except as described below or as specified on the
                  face hereof, this Security shall bear interest equal to the
                  Fixed Interest Rate specified on the face hereof minus the
                  rate determined by reference to the Interest Rate Basis or
                  Bases specified on the face hereof (a) plus or minus the
                  Spread, if any, specified on the face hereof and/or (b)
                  multiplied by the Spread Multiplier, if any, specified on the
                  face hereof; provided, however, that, unless otherwise
                  specified on the face hereof, the interest rate hereon shall
                  not be less than zero during any Interest Rate Reset Period
                  (as defined below). Commencing on the first Interest Reset
                  Date, the rate at which interest on this Security is payable
                  shall be reset as of each Interest Reset Date; provided,
                  however, that the interest rate in effect for the period from
                  the Original Issue Date to the first Interest Reset Date shall
                  be the Initial Interest Rate specified on the face hereof.

                  Notwithstanding the foregoing, if this Security is designated
as having an Addendum attached as specified on the face hereof, this Security
shall bear interest in accordance with the terms described in such Addendum and
as specified on the face hereof.

                  Except as set forth above or as specified on the face hereof,
the interest rate in effect on each day shall be (1) if such day is an Interest
Reset Date, the interest rate determined as of the Interest Determination Date
(as defined below) immediately preceding such Interest Reset Date or (2) if such
day is not an Interest Reset Date, the interest rate determined as of the
Interest Determination Date immediately preceding the most recent Interest Reset
Date.

                  Unless otherwise specified on the face hereof:

                  (1) The "Interest Reset Date" shall be, if the Interest Rate
                  Reset Period specified on the face hereof is (i) daily, each
                  Business Day; (ii) weekly, the Wednesday of each week (except
                  if the applicable Interest Rate Basis is the Treasury Rate
                  which shall reset on the Tuesday of each week); (iii) monthly,
                  the third Wednesday of each month (except if the applicable
                  Interest Rate Basis is
<PAGE>
                  the Eleventh District Cost of Funds Rate which shall reset on
                  the first calendar day of the month); (iv) quarterly, the
                  third Wednesday of March, June, September and December of each
                  year, (v) semiannually, the third Wednesday of the two months
                  specified on the face hereof; and (vi) annually, the third
                  Wednesday of the month specified on the face hereof. If any
                  Interest Reset Date would otherwise be a day that is not a
                  Business Day, such Interest Reset Date shall be postponed to
                  the next succeeding day that is a Business Day, unless LIBOR
                  is an applicable Interest Rate Basis, in which case, if such
                  Business Day falls in the next succeeding calendar month, such
                  Interest Reset Date shall be the immediately preceding
                  Business Day.

                  (2) The "Interest Determination Date" with respect this
                  Security shall be: (i) if the applicable Interest Rate Basis
                  is the CD Rate or the CMT Rate, the second Business Day
                  immediately preceding the applicable Interest Reset Date; (ii)
                  if the applicable Interest Rate Basis is the Commercial Paper
                  Rate, the Federal Funds Rate or the Prime Rate, the Business
                  Day immediately preceding the applicable Interest Reset Date;
                  (iii) if the applicable Interest Rate Basis is the Eleventh
                  District Cost of Funds Rate, the last working day of the month
                  immediately preceding the applicable Interest Reset Date on
                  which the Federal Home Loan Bank of San Francisco publishes
                  the Index (as defined below); (iv) if the applicable Interest
                  Rate Basis is LIBOR, the second London Business Day (as
                  defined below) immediately preceding the applicable Interest
                  Reset Date and (v) if the applicable Interest Rate Basis is
                  the Treasury Rate, the day in the week in which the applicable
                  Interest Reset Date falls on which day Treasury Bills (as
                  defined below) are normally auctioned; provided, however, that
                  if an auction is held on the Friday of the week preceding the
                  applicable Interest Reset Date, the Interest Determination
                  Date will be such preceding Friday. If the interest rate on
                  this Security is determined by reference to two or more
                  Interest Rate Bases, the Interest Determination Date shall be
                  the second Business Day prior to the applicable Interest Reset
                  Date for this Security on which each Interest Rate Basis is
                  determinable. Each Interest Rate Basis will be determined on
                  such date, and the applicable interest rate will take effect
                  on the applicable Interest Reset Date.

                  (3) The "Calculation Date," if applicable, pertaining to any
                  Interest Determination Date will be the earlier of (1) the
                  tenth calendar day after such Interest Determination Date, or,
                  if such day is not a Business Day, the next succeeding
                  Business Day or (2) the Business Day immediately preceding the
                  applicable Interest Payment Date or Stated Maturity, as the
                  case may be.

                  Unless otherwise specified on the face hereof, the interest
rate with respect to each Interest Rate Basis shall be determined in accordance
with the following provisions:

Determination of CD Rate

                  If the Interest Rate Basis with respect to this Security is
the CD Rate, such rate shall be determined by the Calculation Agent appointed as
agent by the Company to calculate the rates of interest applicable to securities
including this Security (the "Calculation Agent") in accordance with the
following provisions:

                  "CD Rate" means the rate on the date for negotiable
certificates of deposit having the Index Maturity specified on the face hereof
as published by the Board of Governors of the Federal Reserve System in
"H.15(519)" (as defined below), under the heading "CDs (Secondary Market)."

                  The Interest Determination Date relating to a CD Rate Note or
any Floating Rate Note for which the interest rate is determined with reference
to the CD Rate is referred to herein as a "CD Rate Interest Determination Date."

                  The following procedures will be followed if the CD Rate
cannot be determined as described above:
<PAGE>
         -        If the rate is not published by 3:00 P.M., New York City time,
                  on the related Calculation Date, the rate on the CD Rate
                  Interest Determination Date for negotiable certificates of
                  deposit of the Index Maturity specified on the face hereof as
                  published in H.15 Daily Update (as defined below) or the other
                  recognized electronic source used for the purpose of
                  displaying the rate under the caption "CDs (secondary market)"
                  will apply.

         -        If the rate is not yet published in either H.15(519), H.15
                  Daily Update or other recognized electronic source by 3:00
                  P.M., New York City time on the related Calculation Date, the
                  CD Rate for the CD Rate Interest Determination Date will be
                  calculated by the Calculation Agent and will be the arithmetic
                  mean of the secondary market offered rates as of 10:00 A.M.,
                  New York City time on the related Calculation Date, of three
                  leading nonbank dealers in negotiable United States dollar
                  certificates of deposit in The City of New York (which may
                  include one or more of the agents or their affiliates). The
                  secondary market offered rates will be selected by the
                  Calculation Agent for negotiable certificates of deposit of
                  major United States money center banks for negotiable
                  certificates of deposit with a remaining maturity closest to
                  the Index Maturity designated on the face hereof and be in an
                  amount that is representative for a single transaction in that
                  market at that time.

         -        If the dealers so selected by the Calculation Agent are not
                  quoting as set forth above, the CD Rate for the CD Rate
                  Interest Determination Date will be that CD Rate in effect on
                  the CD Rate Interest Determination Date.

                  "Index Maturity" means the period to maturity of the
instrument or obligation with respect to which the related Interest Rate Basis
or Bases will be calculated.

                  "H.15(519)" means the designated weekly statistical release,
or any successor publication, published by the Board of Governors of the Federal
Reserve System.

                  "H.15 Daily Update" means the daily update of H.15(519),
available through the world-wide-web site of the Board of Governors of the
Federal Reserve System at http://www.federalreserve.gov/releases/h15/update, or
any successor site or publication.

Determination of CMT Rate

                  If the Interest Rate Basis with respect to this Security is
the CMT Rate, such rate will be determined by the Calculation Agent in
accordance with the following provisions:

                  The Interest Determination Date relating to a CMT Rate Note or
any Floating Rate Note for which the interest rate is determined with reference
to the CMT Rate will be referred to herein as the "CMT Rate Interest
Determination Date."

                  "CMT Rate" means:

              (1) if CMT Telerate Page 7051 is specified on the face hereof:

                           (a) the percentage equal to the yield for United
                  States Treasury securities at "constant maturity" having the
                  Index Maturity specified on the face hereof as published in
                  H.15(519) under the caption "Treasury Constant Maturities", as
                  the yield is displayed on Moneyline Telerate (or any successor
                  service) on page 7051 (or any other page as may replace the
                  specified page on that service) ("Telerate Page 7051"), for
                  the CMT Rate Interest Determination Date, or

                           (b) if the rate referred to in clause (a) does not so
                  appear on Telerate Page 7051, the percentage equal to the
                  yield for United States Treasury securities at "constant
                  maturity" having
<PAGE>
                  the Index Maturity specified on the face hereof and for the
                  CMT Rate Interest Determination Date as published in H.15(519)
                  under the caption "Treasury Constant Maturities", or

                           (c) if the rate referred to in clause (b) does not so
                  appear in H.15(519), the rate on the CMT Rate Interest
                  Determination Date for the period of the Index Maturity
                  specified on the face hereof as may then be published by
                  either the Federal Reserve System Board of Governors or the
                  United States Department of the Treasury that the Calculation
                  Agent determines to be comparable to the rate which would
                  otherwise have been published in H.15(519), or

                           (d) if the rate referred to in clause (c) is not so
                  published, the rate on the CMT Rate Interest Determination
                  Date calculated by the Calculation Agent as a yield to
                  maturity based on the arithmetic mean of the secondary market
                  bid prices at approximately 3:30 P.M., New York City time, on
                  that CMT Rate Interest Determination Date of three leading
                  primary United States government securities dealers in The
                  City of New York (which may include the agents or their
                  affiliates) (each, a "Reference Dealer"), selected by the
                  Calculation Agent from five Reference Dealers selected by the
                  Calculation Agent and eliminating the highest quotation, or,
                  in the event of equality, one of the highest, and the lowest
                  quotation or, in the event of equality, one of the lowest, for
                  United States Treasury securities with an original maturity
                  equal to the Index Maturity specified on the face hereof, a
                  remaining term to maturity no more than 1 year shorter than
                  that Index Maturity and in a principal amount that is
                  representative for a single transaction in the securities in
                  that market at that time, or

                           (e) if fewer than five but more than two of the
                  prices referred to in clause (d) are provided as requested,
                  the rate on the CMT Rate Interest Determination Date
                  calculated by the Calculation Agent based on the arithmetic
                  mean of the bid prices obtained and neither the highest nor
                  the lowest of the quotations shall be eliminated, or

                           (f) if fewer than three prices referred to in clause
                  (d) are provided as requested, the rate on the CMT Rate
                  Interest Determination Date calculated by the Calculation
                  Agent as a yield to maturity based on the arithmetic mean of
                  the secondary market bid prices as of approximately 3:30 P.M.,
                  New York City time, on that CMT Rate Interest Determination
                  Date of three Reference Dealers selected by the Calculation
                  Agent from five Reference Dealers selected by the Calculation
                  Agent and eliminating the highest quotation or, in the event
                  of equality, one of the highest and the lowest quotation or,
                  in the event of equality, one of the lowest, for United States
                  Treasury securities with an original maturity greater than the
                  Index Maturity specified on the face hereof, a remaining term
                  to maturity closest to that Index Maturity and in a principal
                  amount that is representative for a single transaction in the
                  securities in that market at that time, or

                           (g) if fewer than five but more than two prices
                  referred to in clause (f) are provided as requested, the rate
                  on the CMT Rate Interest Determination Date calculated by the
                  Calculation Agent based on the arithmetic mean of the bid
                  prices obtained and neither the highest nor the lowest of the
                  quotations will be eliminated, or

                           (h) if fewer than three prices referred to in clause
                  (f) are provided as requested, the CMT Rate in effect on the
                  CMT Rate Interest Determination Date.

              (2) if CMT Telerate Page 7052 is specified on the face hereof:

                           (a) the percentage equal to the one-week or
                  one-month, as specified on the face hereof, average yield for
                  United States Treasury securities at "constant maturity"
                  having the Index Maturity specified on the face hereof as
                  published in H.15(519) opposite the caption "Treasury Constant
                  Maturities", as the yield is displayed on Moneyline Telerate
                  (or any successor service) (on page 7052 or any other page as
                  may replace the specified page on that service) ("Telerate
                  Page
<PAGE>
                  7052"), for the week or month, as applicable, ended
                  immediately preceding the week or month, as applicable, in
                  which the CMT Rate Interest Determination Date falls, or

                           (b) if the rate referred to in clause (a) does not so
                  appear on Telerate Page 7052, the percentage equal to the
                  one-week or one-month, as specified on the face hereof,
                  average yield for United States Treasury securities at
                  "constant maturity" having the Index Maturity specified on the
                  face hereof and for the week or month, as applicable,
                  preceding the CMT Rate Interest Determination Date as
                  published in H.15(519) opposite the caption "Treasury Constant
                  Maturities," or

                           (c) if the rate referred to in clause (b) does not so
                  appear in H.15(519), the one-week or one-month, as specified
                  on the face hereof, average yield for United States Treasury
                  securities at "constant maturity" having the Index Maturity
                  specified on the face hereof as otherwise announced by the
                  Federal Reserve Bank of New York for the week or month, as
                  applicable, ended immediately preceding the week or month, as
                  applicable, in which the CMT Rate Interest Determination Date
                  falls, or

                           (d) if the rate referred to in clause (c) is not so
                  published, the rate on the CMT Rate Interest Determination
                  Date calculated by the Calculation Agent as a yield to
                  maturity based on the arithmetic mean of the secondary market
                  bid prices at approximately 3:30 P.M., New York City time, on
                  that CMT Rate Interest Determination Date of three Reference
                  Dealers selected by the Calculation Agent from five Reference
                  Dealers selected by the Calculation Agent and eliminating the
                  highest quotation, or, in the event of equality, one of the
                  highest, and the lowest quotation or, in the event of
                  equality, one of the lowest, for United States Treasury
                  securities with an original maturity equal to the Index
                  Maturity specified on the face hereof, a remaining term to
                  maturity no more than 1 year shorter than that Index Maturity
                  and in a principal amount that is representative for a single
                  transaction in the securities in that market at that time, or

                           (e) if fewer than five but more than two of the
                  prices referred to in clause (d) are provided as requested,
                  the rate on the CMT Rate Interest Determination Date
                  calculated by the Calculation Agent based on the arithmetic
                  mean of the bid prices obtained and neither the highest nor
                  the lowest of the quotations shall be eliminated, or

                           (f) if fewer than three prices referred to in clause
                  (d) are provided as requested, the rate on the CMT Rate
                  Interest Determination Date calculated by the Calculation
                  Agent as a yield to maturity based on the arithmetic mean of
                  the secondary market bid prices as of approximately 3:30 P.M.,
                  New York City time, on that CMT Rate Interest Determination
                  Date of three Reference Dealers selected by the Calculation
                  Agent from five Reference Dealers selected by the Calculation
                  Agent and eliminating the highest quotation or, in the event
                  of equality, one of the highest and the lowest quotation or,
                  in the event of equality, one of the lowest, for United States
                  Treasury securities with an original maturity greater than the
                  particular Index Maturity, a remaining term to maturity
                  closest to that Index Maturity and in a principal amount that
                  is representative for a single transaction in the securities
                  in that market at the time, or

                           (g) if fewer than five but more than two prices
                  referred to in clause (f) are provided as requested, the rate
                  on the CMT Rate Interest Determination Date calculated by the
                  Calculation Agent based on the arithmetic mean of the bid
                  prices obtained and neither the highest or the lowest of the
                  quotations will be eliminated, or

                           (h) if fewer than three prices referred to in clause
                  (f) are provided as requested, the CMT Rate in effect on that
                  CMT Rate Interest Determination Date.

                  If two United States Treasury securities with an original
maturity greater than the Index Maturity specified on the face hereof have
remaining terms to maturity equally close to the that Index Maturity, the quotes
for
<PAGE>
the United States Treasury security with the shorter original remaining term to
maturity will be used.

Determination of Commercial Paper Rate

                  If the Interest Rate Basis with respect to this Security is
the Commercial Paper Rate, such rate shall be determined by the Calculation
Agent in accordance with the following provisions:

                  "Commercial Paper Rate" means the Money Market Yield (as
defined below) on the date of the rate for commercial paper having the Index
Maturity specified on the face hereof as published in H.15(519) under the
caption "Commercial Paper -- Non-Financial."

                  The Interest Determination Date relating to a Commercial Paper
Rate Note or any Floating Rate Note for which the interest rate is determined
with reference to the Commercial Paper Rate will be referred to herein as the
"Commercial Paper Rate Interest Determination Date."

                  The following procedures will be followed if the Commercial
Paper Rate cannot be determined as described above:

         -        In the event the rate is not published by 3:00 P.M., New York
                  City time, on the related Calculation Date then the Commercial
                  Paper Rate will be the Money Market Yield (as defined below)
                  on the Commercial Paper Rate Interest Determination Date of
                  the rate for commercial paper having the Index Maturity
                  specified on the face hereof, as published in H.15 Daily
                  Update, or the other recognized electronic source used for the
                  purpose of displaying the rate under the caption "Commercial
                  Paper -- Non-Financial." An Index Maturity of one month will
                  be deemed equivalent to an Index Maturity of 30 days and an
                  Index Maturity of three months will be deemed to be equivalent
                  to an Index Maturity of 90 days.

         -        If by 3:00 P.M., New York City time, on the related
                  Calculation Date, the rate is not yet published in H.15(519),
                  H15 Daily Update or another other recognized electronic
                  source, then the Commercial Paper Rate on the Interest
                  Determination Date will be calculated by the Calculation Agent
                  and will be the Money Market Yield of the arithmetic mean of
                  the offered rates at approximately 11:00 A.M., New York City
                  time, on the Commercial Paper Rate Interest Determination Date
                  of three leading dealers United States dollar commercial paper
                  in The City of New York (which may include one or more of the
                  agents or their affiliates). The quotations will be selected
                  by the Calculation Agent for commercial paper having the Index
                  Maturity designated on the face hereof placed for an
                  industrial issuer whose bond rating is "AA," or the
                  equivalent, from a nationally recognized rating agency.

         -        If the dealers selected by the Calculation Agent are not
                  quoting as provided above, the Commercial Paper Rate will be
                  that Commercial Paper Rate in effect on the Commercial Paper
                  Rate Interest Determination Date.

                  "Money Market Yield" means a yield (expressed as a percentage
rounded to the nearest one-hundredth of a percent, with five one-thousandths of
a percent rounded upwards) calculated by the following formula:

                                            D x 360
            Money Market Yield   =   -------------------    x    100
                                         360 - (D x M)

                  where "D" is the applicable per annum rate for commercial
                  paper quoted on a bank discount basis and expressed as a
                  decimal, and "M" refers to the actual number of days in the
                  applicable Interest Reset Period.
<PAGE>
Determination of Eleventh District Cost of Funds Rate

                  If the Interest Rate Basis with respect to this Security is
the Eleventh District Cost of Funds Rate, such rate shall be determined by the
Calculation Agent in accordance with the following provisions:

                  "Eleventh District Cost of Funds Rate" means the rate equal to
the monthly weighted average cost of funds for the calendar month immediately
preceding the month in which the Eleventh District Cost of Funds Rate Interest
Determination Date (as defined below) falls, as set forth under the caption
"11th District" on Moneyline Telerate (or any successor service) on page 7058
(or any other page as may replace the specified page on that service) ("Telerate
Page 7058") as of 11:00 A.M., San Francisco time, on the Eleventh District Cost
of Funds Rate Interest Determination Date.

                  An Interest Determination Date relating to an Eleventh
District Cost of Funds Rate Note or any Floating Rate Note for which the
interest rate is determined with reference to the Eleventh District Cost of
Funds Rate will be referred to herein as an "Eleventh District Cost of Funds
Rate Interest Determination Date."

                  The following procedures will be followed if the Eleventh
District Cost of Funds Rate cannot be determined as described above:

         -        If the rate does not appear on Telerate Page 7058 on any
                  related Eleventh District Cost of Funds Rate Interest
                  Determination Date, the Eleventh District Cost of Funds Rate
                  for the Eleventh District Cost of Funds Rate Interest
                  Determination Date will be the monthly weighted average costs
                  of funds paid by member institutions of the Eleventh Federal
                  Home Loan Bank District that was most recently announced (the
                  "Index") by the Federal Home Loan Bank of San Francisco as the
                  cost of funds for the calendar month immediately preceding the
                  date of the announcement.

         -        If the Federal Home Loan Bank of San Francisco fails to
                  announce the rate for the calendar month immediately preceding
                  the Eleventh District Cost of Funds Rate Interest
                  Determination Date, then the Eleventh District Cost of Funds
                  Rate determined as of the Eleventh District Cost of Funds Rate
                  Interest Determination Date will be the Eleventh District Cost
                  of Funds Rate in effect on the Eleventh District Cost of Funds
                  Rate Interest Determination Date.

Determination of Federal Funds Rate

                  If the Interest Rate Basis with respect to this Security is
the Federal Funds Rate, such rate shall be determined by the Calculation Agent
in accordance with the following provisions:

                  "Federal Funds Rate" means the rate on the date for federal
funds as published in H.15(519) under the heading "Federal Funds (Effective)",
as the rate is displayed on Moneyline Telerate (or any successor service) on
page 120 (or any other page as may replace the page on the service) ("Telerate
120").

                  An Interest Determination Date relating to a Federal Funds
Rate Note or any Floating Rate Note for which the interest rate is determined
with reference to the Federal Funds Rate will be referred to herein as a
"Federal Funds Rate Interest Determination Date."

                  The following procedures will be followed if the Federal Funds
Rate cannot be determined as described above:

         -        If the rate does not appear on Telerate Page 120 or is not so
                  published by 3:00 P.M. New York City time, on the related
                  Calculation Date, the rate on the Federal Funds Rate Interest
                  Determination Date as published in H.15 Daily Update, or the
                  other recognized electronic source used for the purpose of
                  displaying the rate, under the caption "Federal Funds
                  (Effective)" will be used.
<PAGE>
         -        If by 3:00 P.M., New York City time, on the related
                  Calculation Date the rate does not appear on Telerate Page 120
                  or is not yet published in H.15(519), H.15 Daily Update or
                  other recognized electronic source, then the Federal Funds
                  Rate on the Federal Funds Rate Interest Determination Date
                  will be calculated by the Calculation Agent and will be the
                  arithmetic mean of the rates for the last transaction in
                  overnight United States dollar federal funds arranged by three
                  leading brokers of United States dollar federal funds
                  transactions in The City of New York (which may include one or
                  more of the agents or their affiliates) selected by the
                  Calculation Agent prior to 9:00 A.M., New York City time, on
                  that Federal Funds Rate Interest Determination Date.

         -        If the brokers selected by the Calculation Agent are not
                  quoting as provided above, the Federal Funds Rate determined
                  as of the Federal Funds Rate Interest Determination Date will
                  be the Federal Funds Rate in effect on that Federal Funds Rate
                  Interest Determination Date.

Determination of LIBOR

                  If the Interest Rate Basis with respect to this Security is
LIBOR, such rate shall be determined by the Calculation Agent in accordance with
the following provisions:

                  An Interest Determination Date relating to a LIBOR Note or any
Floating Rate Note for which the interest rate is determined with reference to
LIBOR will be referred to herein as a "LIBOR Interest Determination Date".

         (a) Upon a LIBOR Interest Determination Date, the LIBOR rate will be
     either:

         -        if "LIBOR Telerate" is specified on the face hereof or if
                  neither "LIBOR Reuters" nor "LIBOR Telerate" is specified on
                  the face hereof as the method for calculating LIBOR, the rate
                  for deposits in the Designated LIBOR Currency (as defined
                  below) having the Index Maturity specified on the face hereof,
                  commencing on the Interest Reset Date, that appears on the
                  Designated LIBOR Page (as defined below) as of 11:00 A.M.,
                  London time, on the LIBOR Interest Determination Date; or

         -        if "LIBOR Reuters" is specified on the face hereof, the
                  arithmetic mean of the offered rates (unless the Designated
                  LIBOR Page by its terms provides only for a single rate, in
                  which case that single rate shall be used) for deposits in the
                  Designated LIBOR Currency having the Index Maturity specified
                  on the face hereof, commencing on the applicable Interest
                  Reset Date, that appear (or, if only a single rate is required
                  as aforesaid, appears) on the Designated LIBOR Page as of
                  11:00 A.M., London time, on the LIBOR Interest Determination
                  Date. If fewer than two offered rates so appear, or if no rate
                  so appears, as applicable, LIBOR on the LIBOR Interest
                  Determination Date will be determined in accordance with the
                  provisions described in paragraph (b) set forth below.

         (b) With respect to a LIBOR Interest Determination Date on which fewer
     than two offered rates appear, or no rate appears, as the case may be, on
     the Designated LIBOR Page as specified in (a) above, LIBOR will be
     determined according to the procedures described below:

         -        The Calculation Agent will request the principal London
                  offices of each of four major reference banks (which may
                  include affiliates of the agents) in the London interbank
                  market, as selected by the Calculation Agent, to provide the
                  Calculation Agent with its offered quotation for deposits in
                  the Designated LIBOR Currency for the period of the Index
                  Maturity specified on the face hereof, commencing on the
                  applicable Interest Reset Date, to prime banks in the London
                  interbank market at approximately 11:00 A.M., London time, on
                  the LIBOR Interest Determination Date and in a principal
                  amount that is representative for a single transaction in the
                  Designated LIBOR Currency in the market at the time.
<PAGE>
         -        If at least two quotations are so provided, then LIBOR on the
                  LIBOR Interest Determination Date will be the arithmetic mean
                  of the quotations.

         -        If fewer than two quotations are so provided, then LIBOR on
                  the LIBOR Interest Determination Date will be the arithmetic
                  mean of the rates quoted at approximately 11:00 A.M., in the
                  applicable principal financial center, on the LIBOR Interest
                  Determination Date by three major banks (which may include
                  affiliates of the agents) in the principal financial center
                  selected by the Calculation Agent for loans in the Designated
                  LIBOR Currency to leading European banks, having the Index
                  Maturity specified on the face hereof and in a principal
                  amount that is representative for a single transaction in the
                  Designated LIBOR Currency in the market at the time.

         -        If the banks so selected by the Calculation Agent are not
                  quoting as provided above, LIBOR determined as of the LIBOR
                  Interest Determination Date will be LIBOR in effect on that
                  LIBOR Interest Determination Date.

                  "Designated LIBOR Currency" means the currency specified on
the face hereof as to which LIBOR shall be calculated or, if no currency is
specified on the face hereof, United States dollars.

                  "Designated LIBOR Page" means (a) if "LIBOR Reuters" is
specified on the face hereof, the display on the Reuter Monitor Money Rates
Service (or any successor service) on the page specified on the face hereof (or
any other page as may replace the page on the service) for the purpose of
displaying the London interbank rates of major banks for the Designated LIBOR
Currency, or (b) if "LIBOR Telerate" is specified on the face hereof or neither
"LIBOR Reuters" nor "LIBOR Telerate" is specified on the face hereof as the
method for calculating LIBOR, the display on Moneyline Telerate (or any
successor service) on the page specified on the face hereof (or any other page
as may replace the page on the service) for the purpose of displaying the London
interbank rates of major banks for the Designated LIBOR Currency.

Determination of Prime Rate

                  If the Interest Rate Basis with respect to this Security is
the Prime Rate, such rate shall be determined by the Calculation Agent in
accordance with the following provisions:

                  "Prime Rate" means the rate on the date as published in
H.15(519) under the heading "Bank Prime Loan."

                  An Interest Determination Date relating to a Prime Rate Note
or any Floating Rate Note for which the interest rate is determined with
reference to the Prime Rate will be referred to herein as a "Prime Rate Interest
Determination Date."

                  The following procedures will be followed if the Prime Rate
cannot be determined as described above:

         -        If the rate is not published in H.15(519) prior to 3:00 P.M.,
                  New York City time, on the related Calculation Date, the rate
                  on the Prime Rate Interest Determination Date as published in
                  H.15 Daily Update, or other recognized electronic source used
                  for the purpose of displaying the rate, under the caption
                  "Bank Prime Loan" will be used.

         -        If the rate is not published prior to 3:00 P.M., New York City
                  time, on the related Calculation Date, in H.15(519), or H.15
                  Daily Update or another recognized electronic source, then the
                  Prime Rate will be the arithmetic mean of the rates of
                  interest publicly announced by each bank that appears on the
                  Reuters Screen US PRIME 1 (as defined below) as the bank's
                  prime rate or base lending rate as in effect for that Prime
                  Rate Interest Determination Date, as determined by the
                  Calculation Agent.
<PAGE>
         -        If fewer than four rates appear on the Reuters Screen US PRIME
                  1 for the Prime Rate Interest Determination Date, the Prime
                  Rate will be calculated by the Calculation Agent and will be
                  the arithmetic mean of the prime rates or base lending rates
                  quoted on the basis of the actual number of days in the year
                  divided by a 360-day year as of the close of business on the
                  Prime Rate Interest Determination Date by three major banks in
                  The City of New York (which may include affiliates of the
                  agents) selected by the Calculation Agent.

         -        If the banks or trust companies selected are not quoting as
                  provided above, the Prime Rate determined for the Prime Rate
                  Interest Determination Date will be that Prime Rate in effect
                  on the Prime Rate Interest Determination Date.

                  "Reuters Screen US PRIME 1" means the display designated as
page "US PRIME 1" on the Reuters Monitor Money Rates Service (or the other page
as may replace the US PRIME 1 page on that service for the purpose of displaying
prime rates or base lending rates of major United States banks).

Determination of Treasury Rate

                  If the Interest Rate Basis with respect to this Security is
the Treasury Rate, such rate shall be determined by the Calculation Agent in
accordance with the following provisions:

                  An Interest Determination Date relating to a Treasury Rate
Note or any Floating Rate Note for which the interest rate is determined by
reference in the Treasury Rate shall be referred to herein as a "Treasury Rate
Interest Determination Date."

                  "Treasury Rate" means:

                  (1) the rate from the auction held on the Treasury Rate
                  Interest Determination Date (the "Auction") of direct
                  obligations of the United States ("Treasury Bills") having the
                  Index Maturity specified on the face hereof under the caption
                  "INVESTMENT RATE" on the display on Moneyline Telerate (or any
                  successor service) on page 56 (or any other page as may
                  replace that page on that service) ("Telerate Page 56") or
                  page 57 (or any other page as may replace that page on that
                  service) ("Telerate Page 57"), or

                  (2) if the rate referred to in clause (1) is not so published
                  by 3:00 P.M., New York City time, on the related Calculation
                  Date, the Bond Equivalent Yield (as defined below) of the rate
                  for the applicable Treasury Bills as published in H.15 Daily
                  Update, or another recognized electronic source used for the
                  purpose of displaying the applicable rate, under the caption
                  "U.S. Government Securities/Treasury Bills/Auction High", or

                  (3) if the rate referred to in clause (2) is not so published
                  by 3:00 P.M., New York City time, on the related Calculation
                  Date, the Bond Equivalent Yield of the auction rate of the
                  applicable Treasury Bills as announced by the United States
                  Department of the Treasury, or

                  (4) if the rate referred to in clause (3) is not so announced
                  by the United States Department of the Treasury, or if the
                  Auction is not held, the Bond Equivalent Yield of the rate on
                  the Treasury Rate Interest Determination Date of the
                  applicable Treasury Bills as published in H.15(519) under the
                  caption "U.S. Government Securities/Treasury Bills/Secondary
                  Market", or

                  (5) if the rate referred to in clause (4) not so published by
                  3:00 P.M., New York City time, on the related Calculation
                  Date, the rate on the Treasury Rate Interest Determination
                  Date of the applicable Treasury Bills as published in H.15
                  Daily Update, or another recognized electronic source used for
                  the purpose of displaying the applicable rate, under the
                  caption "U.S. Government Securities/Treasury Bills/Secondary
                  Market", or
<PAGE>
              (6) if the rate referred to in clause (5) is not so published by
                  3:00 P.M., New York City time, on the related Calculation
                  Date, the rate on the Treasury Rate Interest Determination
                  Date calculated by the Calculation Agent as the Bond
                  Equivalent Yield of the arithmetic mean of the secondary
                  market bid rates, as of approximately 3:30 P.M., New York City
                  time, on that Treasury Rate Interest Determination Date, of
                  three primary United States government securities dealers
                  (which may include the agents or their affiliates) selected by
                  the Calculation Agent, for the issue of Treasury Bills with a
                  remaining maturity closest to the Index Maturity specified on
                  the face hereof, or

              (7) if the dealers so selected by the Calculation Agent are not
                  quoting as mentioned in clause (6), the Treasury Rate in
                  effect on the Treasury Rate Interest Determination Date.

                  "Bond Equivalent Yield" means a yield (expressed as a
percentage) calculated in accordance with the following formula:

                                              D x N
                 Bond Equivalent Yield =  -------------  x  100
                                          360 - (D x M)

where "D" refers to the applicable per annum rate for Treasury Bills quoted on a
bank discount basis and expressed as a decimal, "N" refers to 365 or 366, as the
case may be, and "M" refers to the actual number of days in the applicable
Interest Reset Period.

                  Notwithstanding the foregoing, the interest rate hereon shall
not be greater than the Maximum Interest Rate, if any, or less than the Minimum
Interest Rate, if any, shown on the face hereof. The Calculation Agent shall
calculate the interest rate on this Security in accordance with the foregoing on
each Interest Determination Date.

                  The interest rate on this Security will in no event be higher
than the maximum rate permitted by New York or California law as the same may be
modified by the United States law of general applicability.

                  The Calculation Agent will, upon the request of the Holder of
this Security, provide to such Holder the interest rate hereon then in effect
and, if different, the interest rate which will become effective as of the next
applicable Interest Reset Date.

                  If any Interest Payment Date specified on the face hereof
would otherwise be a day that is not a Business Day, the Interest Payment Date
shall be postponed to the next day that is a Business Day, except that if (1)
the rate of interest on this Security shall be determined in accordance with the
provisions of the heading "Determination of LIBOR" above, and (2) such Business
Day is in the next succeeding calendar month, such Interest Payment Date shall
be the immediately preceding Business Day. "Business Day" means any day that is
not a Saturday or Sunday and that, in The City of New York (and, if the rate of
interest on this Security shall be determined in accordance with the provisions
of the heading "Determination of LIBOR" above, the City of London), is not a day
on which banking institutions are generally authorized or obligated by law to
close.

                  Interest payments for this Security will include interest
accrued from and including the date of issue or from and including the last date
in respect of which interest has been paid, as the case may be, to, but
excluding, the Interest Payment Date or Stated Maturity, as the case may be.
Accrued interest hereon from the Original Issue Date or from the last date to
which interest hereon has been paid, as the case may be, shall be an amount
calculated by multiplying the face amount hereof by an accrued interest factor.
Such accrued interest factor shall be computed by adding the interest factor
calculated for each day from the Original Issue Date or from the last date to
which interest shall have been paid, as the case may be, to the date for which
accrued interest is being calculated. The interest factor for each such day
shall be computed by dividing the interest rate (expressed as a decimal)
applicable to such day by 360, in case the Interest Rate Basis of this Security
is the CD Rate, Commercial Paper Rate, Eleventh District Cost of Funds Rate,
Federal Funds Rate, Prime Rate or LIBOR, or by the actual number of days in the
year in the case the Interest Rate Basis of this Security is the CMT Rate or the
Treasury Rate.
<PAGE>
                  On each Optional Reset Date, if any, specified on the face
hereof, the Company has the option to reset the Spread and the Spread
Multiplier. If no date or dates for such reset are set forth on the face hereof,
this Security will not be subject to such reset. The Company may exercise such
option by notifying the Trustee of such exercise at least 45 but not more than
60 days prior to an Optional Reset Date. Not later than 40 days prior to such
Optional Reset Date, the Trustee will mail to the Holder hereof a notice (the
"Reset Notice"), first class, postage prepaid. The Reset Notice will indicate
whether the Company has elected to reset the Spread or Spread Multiplier and if
so, (1) such new Spread or Spread Multiplier, as the case may be; and (2) the
provisions, if any, for redemption during the period from such Optional Reset
Date to the next Optional Reset Date or, if there is no such next Optional Reset
Date, to Stated Maturity (each such period a "Subsequent Interest Period"),
including the date or dates on which or the period or periods during which and
the price or prices at which such redemption may occur during such Subsequent
Interest Period.

                  Notwithstanding the foregoing, the Company may, at its option,
revoke the Spread or Spread Multiplier as provided for in the Reset Notice, and
establish a Spread or Spread Multiplier that is higher (or lower if this
Security is designated an Inverse Floating Rate Note) than the Spread or Spread
Multiplier provided for in the relevant Reset Notice for the Subsequent Interest
Period commencing on such Optional Reset Date, by causing the Trustee to mail,
not later than 20 days prior to an Optional Reset Date (or, if the day is not a
Business Day, on the immediately succeeding Business Day), a notice of such new
Spread or Spread Multiplier to the Holder hereof. Such notice will be
irrevocable. The Company must notify the Trustee of its intentions to revoke
such Reset Notice at least 25 days prior to such Optional Reset Date. If the
Spread or Spread Multiplier hereof is reset on an Optional Reset Date and the
Holder hereof has not tendered this Security for repayment (or has validly
revoked any such tender) pursuant to the next succeeding paragraph, such Holder
will bear such new Spread or Spread Multiplier for the Subsequent Interest
Period.

                  If the Company elects to reset the Spread or Spread Multiplier
as described above, the Holder hereof will have the option to elect repayment
hereof by the Company on any Optional Reset Date at a price equal to the
aggregate principal amount hereof outstanding on, plus any interest accrued to,
such Optional Reset Date. In order to exercise such option, the Holder hereof
must follow the procedures set forth below for optional repayment, except that
(1) the period for delivery of this Security or notification to the Trustee will
be at least 25 but not more than 35 days prior to such Optional Reset Date and
(2) a Holder who has tendered for repayment pursuant to a Reset Notice may, by
written notice to the Trustee, revoke any such tender until the close of
business on the tenth day prior to such Optional Reset Date.

                  The Company may extend the Stated Maturity of this Security
for the number of periods of whole years from one to five, if any, specified on
the face hereof under Extension Periods up to but not beyond the Final Maturity
Date specified on the face hereof. If no period or periods for such extension
are set forth on the face hereof, this Security will not be subject to such
extension and will finally mature on the Stated Maturity specified on the face
hereof. The Company may exercise such option by notifying the Trustee of such
exercise at least 45 but not more than 60 days prior to the old Stated Maturity.
Not later than 40 days prior to the old Stated Maturity, the Trustee will mail
to the Holder hereof a notice (the "Extension Notice"), first class, postage
prepaid. The Extension Notice will set forth (1) the election of the Company to
extend the Stated Maturity; (2) the new Stated Maturity; (3) the Spread or
Spread Multiplier applicable to the Extension Period; and (4) the provisions, if
any, for redemption during the Extension Period, including the date or dates on
which or the period or periods during which and the price or prices at which
such redemption may occur during the Extension Period. Upon the mailing by such
Trustee of an Extension Notice to the Holder hereof, the Stated Maturity shall
be extended automatically, and, except as modified by the Extension Notice and
as described in the next paragraph, this Security will have the same terms as
prior to the mailing of such Extension Notice.

                  Notwithstanding the foregoing, not later than 20 days prior to
the old Stated Maturity, the Company may, at its option, revoke the Spread or
Spread Multiplier provided for in the Extension Notice and establish a higher
(or lower if this Security is designated an Inverse Floating Rate Note) Spread
or Spread Multiplier for the Extension Period, by causing the Trustee to mail
notice of such new Spread or Spread Multiplier, as the case may be, first class,
postage prepaid, to the Holder hereof. Such notice will be irrevocable. In such
case, this
<PAGE>
Security will bear such new Spread or Spread Multiplier for the Extension
Period, whether or not tendered for repayment.

                  If the Company extends the Stated Maturity, the Holder hereof
will have the option to elect repayment hereof by the Company on the old Stated
Maturity at a price equal to the principal amount hereof, plus any interest
accrued and unpaid to such date. In order to exercise such option, the Holder
hereof must follow the procedures set forth for optional repayment, except that
(1) the period for delivery of this Security or notification to the Trustee will
be at least 25 but not more than 35 days prior to the old Stated Maturity and
(2) a Holder who has tendered for repayment pursuant to an Extension Notice may,
by written notice to the Trustee, revoke any such tender for repayment until the
close of business on the tenth day before the old Stated Maturity.

                  Unless otherwise indicated on the face of this Security, this
Security may not be redeemed prior to Stated Maturity. If so indicated on the
face of this Security, this Security may be redeemed, at the option of the
Company, on any date on or after the date set forth on the face hereof, either
in whole or from time to time in part at a redemption price equal to 100% of the
principal amount redeemed, together with interest accrued and unpaid thereon to
the date of redemption. Notice of redemption shall be mailed to the Holders of
the Securities designated for redemption at their addresses as the same shall
appear in the Security Register not less than 30 and not more than 60 days prior
to the date of redemption, subject to all the conditions and provisions of the
Indenture. In the event of any redemption, the Company will not be required to
(1) issue, register the transfer of, or exchange any Security during a period
beginning at the opening of business 15 days before any selection of Securities
to be redeemed and ending at the close of business on the date of mailing of the
relevant notice of redemption or (2) register the transfer or exchange of any
Security, or any portion thereof, called for redemption, except the unredeemed
portion of any Security being redeemed in part. Only a new Security or
Securities for the amount of the unredeemed portion hereof shall be issued in
the name of the Holder upon the cancellation hereof.

                  If so provided on the face of this Security, the Security will
be subject to repayment at the option of the Holder on the date or dates so
indicated on the face hereof. If no date or dates for such repayment are set
forth on the face hereof, this Security will not be repayable at the option of
the Holder prior to Stated Maturity. On an optional repayment date, if any, this
Security will be repayable in whole or in part in increments of $1,000 at the
option of the Holder at a price equal to 100% of the principal amount to be
repaid, together with interest thereon payable to the date of repayment, if not
more than 60 nor less than 30 days prior to the date or dates of repayment set
forth on the face hereof, the Company receives either (a) the Security with the
form entitled "Option to Elect Repayment" on the reverse of the Security duly
completed or (b) a telegram, telex, facsimile transmission or letter from a
member of a national securities exchange or the National Association of
Securities Dealers, Inc. or a commercial bank or a trust company in the United
States of America stating the name of the Holder of the Security, the principal
amount of the Security, the amount of the Security to be repaid, a statement
that the option to elect repayment is being exercised, and a guarantee that the
Security to be repaid with the form entitled "Option to Elect Repayment" on the
reverse of the Security duly completed will be received by the Company within
five Business Days after the date of the telegram, telex, facsimile transmission
or letter, and the security and form duly completed are so received by the
Company. Any notice of this effect received by the Company will be irrevocable.
The final and binding determination of all questions as to the validity,
eligibility (including time of receipt) and acceptance of this Security for
repayment will be made by the Company. In the event of repayment of this
Security in part only, a new Security for the unrepaid portion hereof shall be
issued in the name of the Holder hereof upon the surrender hereof.

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

                  Unless otherwise specified on the face hereof, if (1) this
Security is issued with original issue discount (as defined in the Internal
Revenue Code of 1986, as amended)( the "Code"), and (2) the principal hereof is
declared to be due and payable immediately, the amount of principal due and
payable with respect hereto shall be limited to the Principal Amount hereof
multiplied by the sum of the Issue Price hereof (expressed as a percentage of
the Principal Amount hereof); plus the aggregate portions of the original issue
discount (consisting of the excess of
<PAGE>
the amounts considered as part of the "stated redemption price at maturity" of
the Security within the meaning of Section 1273(a)(2) of the Code, whether
denominated as principal or interest, over the Issue Price), which have accrued
pursuant to Section 1272 of the Code (without regard to Section 1272(a)(7) of
the Code) from the date of issuance of the Security to the date of
determination; and minus any amount paid from the date of issuance up to the
date of determination which is considered part of the "stated redemption price
at maturity" of the Security.

                  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 not less than 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 not
less than a majority in principal amount of the outstanding Securities of any
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
hereof or in lieu hereof, whether or not notation of such consent or waiver is
made upon this Security.

                  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, premium,
if any, and interest on this Security at the times, places and rate, and in the
coin or currency, herein prescribed. However, the Indenture limits Holder's
rights to enforce the Indenture and this Security.

                  This Security is exchangeable only if (1) the Depositary
notifies the Company that it is unwilling or unable to continue as Depositary
for this Global 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 the time specified
in the Indenture, or (2) the Company in its sole discretion determines that all
Global Securities of the same series as this Security shall be exchangeable for
definitive Securities of differing denominations aggregating a like amount in
registered form. If this Security is exchangeable pursuant to the preceding
sentence, it shall be exchangeable for definitive Securities of differing
denominations aggregating a like amount in registered form in denominations of
$1,000 and integral multiples of $1,000 in excess thereof, bearing interest at
the same rate or pursuant to the same formula, having the same date of issuance,
redemption provisions, if any, Stated Maturity and other terms.

                  The Depositary will not sell, assign, transfer or otherwise
convey any beneficial interest in this Security unless such beneficial interest
is in an amount equal to $1,000 or an integral multiple of $1,000 in excess
thereof. The Depositary, by accepting this Security, agrees to be bound by such
provision.

                  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 none of the
Company, the Trustee or any such agent shall be affected by notice to the
contrary.

                  All percentages resulting from any calculation on this
Security will be rounded to the nearest one hundred-thousandth, with five
one-millionths rounded upwards (e.g., 9.876545% (or .09876545) would be rounded
to 9.87655% (or .0987655)), and all dollar amounts used in or resulting from
such calculation on this Security will be rounded to the nearest cent (with
one-half cent being rounded upwards).

                  THE INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
<PAGE>
                  All terms used in this Security which are defined in the
Indenture shall have the meanings assigned to them in the Indenture.
<PAGE>
                  IN WITNESS WHEREOF, the Company has caused this instrument to
be duly executed under its corporate seal as of the Dated Date set forth on the
face hereof.

                           INTERNATIONAL LEASE FINANCE CORPORATION

[Seal]

                           By:
                                   ----------------------------------
                                   Chairman of the Board

                                   ----------------------------------
                                   President

Attest:

----------------------------------
         Secretary

                  Unless the certificate of authentication hereon has been
executed by The Bank of New York, the Trustee under the Indenture, or its
successor thereunder, by the manual signature of one of its authorized
signatories or authorized Authenticating Agents, this Note shall not be entitled
to any benefits under the Indenture, or be valid or obligatory for any purpose.

                          CERTIFICATE OF AUTHENTICATION

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

Date of Registration:

                                        THE BANK OF NEW YORK,
                                        as Trustee

                                        By
                                                 ------------------------------
                                                 Authorized Signatory
<PAGE>
[FORM OF ASSIGNMENT]

                                  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), assign(s) and
          transfer(s) unto

Please insert Social Security or Other
Identifying Number of Assignee              _________________________________

PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE

------------------------------------------------------

------------------------------------------------------

the within Note and all rights thereunder, hereby irrevocably constituting and
appointing

_____________________________________________________ Attorney to transfer said
Note 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 on
                                                     the face of the within
                                                     instrument in every
                                                     particular, without
                                                     alteration or enlargement,
                                                     or any change whatever.
<PAGE>
                            OPTION TO ELECT REPAYMENT

                  The undersigned hereby irrevocably requests and instructs the
Company to repay the within Security (or portion thereof specified below)
pursuant to its terms at a price equal to the principal amount thereof, together
with interest to the repayment date, to the undersigned.

                  The undersigned acknowledges that for the within Security to
be repaid, the Company must receive at the offices or agencies of the Trustee in
The City of New York, during the period specified in this Security (1) the
Security with this "Option to Elect Repayment" form duly completed, or (2) a
telegram, telex, facsimile or letter from a member of a national securities
exchange or the National Association of Securities Dealers, Inc. or a commercial
bank or a trust company in the United States of America setting forth the name
of the Holder of the Security, the principal amount of the Security, the amount
of the Security to be repaid, a statement that the option to elect repayment is
being exercised thereby and a guarantee that the Security to be repaid with the
"Option to Elect Repayment" form duly completed will be received by the Company
not later than five Business Days after the date of such telegram, telex,
facsimile transmission or letter and such Security and form duly completed are
received by the Company by such fifth Business Day. Any such notice received by
the Company during the period specified in this Security shall be irrevocable.

                  If less than the entire principal amount of the within
Security is to be repaid, specify the portion thereof (which shall be $1,000 or
an integral multiple thereof) which the Holder elects to have repaid:
$______________; and specify the denomination or denominations (which shall be
$1,000 or an integral multiple thereof) of the Security or Securities to be
issued to the Holder for the portion of the within Security not being repaid (in
the absence of any such specification, one such Security will be issued for the
portion not being repaid): $______________.

Dated:

                                                     ---------------------------
                                                     Note: The signature to this
                                                     Option to Elect Repayment
                                                     must correspond with the
                                                     name as it appears upon the
                                                     face of the within Security
                                                     in every particular without
                                                     alteration or enlargement
                                                     or any change whatever.<PAGE>

                                                                     Exhibit 4.3
                     INTERNATIONAL LEASE FINANCE CORPORATION
                           MEDIUM-TERM NOTE, SERIES P
                                  (FIXED RATE)

REGISTERED                                                            REGISTERED

NO. FXR-
CUSIP-

If this Security is registered in the name of The Depository Trust Company (the
"Depositary") (55 Water Street, New York, New York) or its nominee, 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 Depositary or a nominee of such successor Depositary unless and until
this Security is exchanged in whole or in part for Securities in definitive
form. Unless this certificate is presented by an authorized representative of
the Depositary 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 such other name as requested by an authorized representative of
the Depositary and any payment is made to Cede & Co., 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.

                                                                      Original
Stated                     Interest                 Issue             Principal
Maturity:                  Rate:                    Date:             Amount:

----------                 -----------%             ----------        ----------

Issue Price:

Repurchase Price                                     Overdue
(for Discount                                        Rate (if any):
Securities):

Redeemable On Or After:

Optional Repayment Date:

Optional Reset Dates:

Extension Periods:

Final Maturity:

Other Provisions:
<PAGE>
            INTERNATIONAL LEASE FINANCE CORPORATION, a California corporation
(herein called the "Company", which term includes any successor corporation
under the Indenture, as hereinafter defined), for value received, hereby
promises to pay to Cede & Co., or registered assigns, the principal sum set
forth above at Stated Maturity shown above and to pay interest thereon from the
Original Issue Date shown above or from the most recent Interest Payment Date
(as defined below) to which interest has been paid or duly provided for at a
fixed rate per annum semi annually in arrears on April 15 and October 15 in each
year, unless otherwise set forth above ("Interest Payment Dates"), until the
principal hereof is paid or made available for payment, and on Stated Maturity.
Interest will be payable on each Interest Payment Date and at Stated Maturity or
upon redemption or optional repayment. Interest will be payable to the Holder at
the close of business on the Regular Record Date which shall be April 1 and
October 1 of each year, unless otherwise set forth above, next preceding such
Interest Payment Date; provided, however, that interest payable at Stated
Maturity or upon redemption or optional repayment will be payable to the person
to whom principal is payable and (to the extent that the payment of such
interest shall be legally enforceable) at the Overdue Rate, if any, per annum
set forth above on any overdue principal and premium and on any overdue
installment of interest. If the Original Issue Date is between a Regular Record
Date and the next succeeding Interest Payment Date, the first payment of
interest hereon will be made on the Interest Payment Date following the next
succeeding Regular Record Date to the Holder on such next Regular Record Date.

            Payment of the principal, and premium, if any, and interest payable
at Stated Maturity or upon redemption or optional repayment of this Security
will be made in immediately available funds at the corporate trust office or
agency of the Trustee in New York, New York, provided that this Security is
presented to the Trustee in time for the Trustee to make such payments in such
funds in accordance with its normal procedures. Interest (other than interest
payable at Stated Maturity or upon redemption or optional repayment) will be
paid by check mailed to the address of the person entitled thereto as it appears
in the Security Register on the applicable Regular Record Date or, at the option
of the Company, by wire transfer to an account maintained by such person with a
bank located in the United States. Notwithstanding the foregoing, (1) the
Depositary or its nominee, if it is the registered Holder of this Security, will
be entitled to receive payments of interest (other than at Stated Maturity or
upon redemption or optional repayment) by wire transfer to an account maintained
by such Holder with a bank located in the United States, and (2) a Holder of
$10,000,000 or more in aggregate principal amount of Securities having the same
Interest Payment Date will, upon receipt on or prior to the Regular Record Date
preceding an applicable Interest Payment Date by the Trustee of written
instructions from such Holder, be entitled to receive payments of interest
(other than at Stated Maturity or upon redemption or optional repayment) by wire
transfer to an account maintained by such Holder with a bank located in the
United States. Such instructions shall remain in effect with respect to payments
of interest made to such Holder on subsequent Interest Payment Dates unless
revoked or changed by written instructions received by the Trustee from such
Holder, provided that any such written revocation or change which is received by
the Trustee after a Regular Record Date and before the related Interest Payment
Date shall not be effective with respect to the interest payable on such
Interest Payment Date.

            This Security is one of a duly authorized issue of Medium-Term
Notes, Series P of the Company (herein called the "Securities"), issued and to
be issued under an Indenture dated as of November 1, 2000 (herein called the
"Indenture") between the Company and The Bank of New York, as trustee (herein
called the "Trustee," which term includes any successor trustee under the
Indenture), as amended, to which the Indenture and all indentures supplemental
thereto reference is hereby made for a statement of the respective rights,
limitation 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. The Securities of this series may
be issued from time to time at varying maturities, interest rates and other
terms as may be designated with respect to a Security.

            After the completion of the issuance for which this Security is a
part, the Company may, from time to time, reopen such issuance and issue
additional Securities with the same terms (including maturity and interest
payment terms) as this Security. After such additional Securities are issued,
they will be fungible with this Security.

            Interest payments for this Security will include interest accrued to
but excluding the Interest Payment Dates. Interest payments for this Security
shall be computed and paid on the basis of a 360-day year of
<PAGE>
twelve 30-day months. If any Interest Payment Date specified on the face hereof
would otherwise be a day that is not a Business Day, the Interest Payment Date
shall be postponed to the next day that is a Business Day. "Business Day" means
any day that is not a Saturday or Sunday and that, in The City of New York, is
not a day on which banking institutions are generally authorized or obligated to
close.

            On each Optional Reset Date, if any, specified on the face hereof,
the Company has the option to reset the interest rate hereon. If no date or
dates for such reset are set forth on the face hereof, this Security will not be
subject to such reset. The Company may exercise such option by notifying the
Trustee of such exercise at least 45 but not more than 60 days prior to an
Optional Reset Date. Not later than 40 days prior to such Optional Reset Date,
the Trustee will mail to the Holder hereof a notice (the "Reset Notice"), first
class, postage prepaid. The Reset Notice will indicate whether the Company has
elected to reset the interest rate hereon and if so, (1) such new interest rate;
and (2) the provisions, if any, for redemption during the period from such
Optional Reset Date to the next Optional Reset Date or, if there is no such next
Optional Reset Date, to Stated Maturity (each such period a "Subsequent Interest
Period"), including the date or dates on which or the period or periods during
which and the price or prices at which such redemption may occur during such
Subsequent Interest Period.

            Notwithstanding the foregoing, the Company may, at its option,
revoke the interest rate as provided for in the Reset Notice, and establish an
interest rate that is higher than the interest rate provided for in the relevant
Reset Notice for the Subsequent Interest Period commencing on such Optional
Reset Date, by causing the Trustee to mail, not later than 20 days prior to an
Optional Reset Date (or, if the day is not a Business Day, on the immediately
succeeding Business Day), a notice of such higher interest rate to the Holder
hereof. Such notice will be irrevocable. The Company must notify the Trustee of
its intentions to revoke such Reset Notice at least 25 days prior to such
Optional Reset Date. If the interest rate hereof is reset on an Optional Reset
Date and the Holder hereof has not tendered this Security for repayment (or has
validly revoked any such tender) pursuant to the next succeeding paragraph, such
Holder will bear such higher interest rate for the Subsequent Interest Period.

            If the Company elects to reset the interest rate hereon as described
above, the Holder hereof will have the option to elect repayment hereof by the
Company on any Optional Reset Date at a price equal to the aggregate principal
amount hereof outstanding on, plus any interest accrued to, such Optional Reset
Date. In order to exercise such option, the Holder hereof must follow the
procedures set forth below for optional repayment, except that (1) the period
for delivery of this Security or notification to the Trustee will be at least 25
but not more than 35 days prior to such Optional Reset Date and (2) a Holder who
has tendered for repayment pursuant to a Reset Notice may, by written notice to
the Trustee, revoke any such tender until the close of business on the tenth day
prior to such Optional Reset Date.

            The Company may extend the Stated Maturity of this Security for the
number of periods of whole years from one to five, if any, specified on the face
hereof under Extension Periods up to but not beyond the Final Maturity Date
specified on the face hereof. If no period or periods for such extension are set
forth on the face hereof, this Security will not be subject to such extension.
The Company may exercise such option by notifying the Trustee of such exercise
at least 45 but not more than 60 days prior to the old Stated Maturity. Not
later than 40 days prior to the old Stated Maturity, the Trustee will mail to
the Holder hereof a notice (the "Extension Notice"), first class, postage
prepaid. The Extension Notice will set forth (1) the election of the Company to
extend the Stated Maturity; (2) the new Stated Maturity; (3) the interest rate
applicable to the Extension Period; and (4) the provisions, if any, for
redemption during the Extension Period, including the date or dates on which or
the period or periods during which and the price or prices at which such
redemption may occur during the Extension Period. Upon the mailing by such
Trustee of an Extension Notice to the Holder hereof, the Stated Maturity shall
be extended automatically, and, except as modified by the Extension Notice and
as described in the next paragraph, this Security will have the same terms as
prior to the mailing of such Extension Notice.

            Notwithstanding the foregoing, not later than 20 days prior to the
old Stated Maturity, the Company may, at its option, revoke the interest rate
provided for in the Extension Notice and establish a higher interest rate for
the Extension Period, by causing the Trustee to mail notice of such higher
interest rate, as the case may be, first class, postage prepaid, to the Holder
hereof. Such notice will be irrevocable. In such case, this Security will bear
such higher interest rate for the Extension Period, whether or not tendered for
repayment.
<PAGE>
            If the Company extends Stated Maturity, the Holder hereof will have
the option to elect repayment hereof by the Company on the old Stated Maturity
at a price equal to the principal amount hereof, plus any interest accrued and
unpaid to such date. In order to exercise such option, the Holder hereof must
follow the procedures set forth for optional repayment, except that (1) the
period for delivery of this Security or notification to the Trustee will be at
least 25 but not more than 35 days prior to the old Stated Maturity and (2) a
Holder who has tendered for repayment pursuant to an Extension Notice may, by
written notice to the Trustee, revoke any such tender for repayment until the
close of business on the tenth day before the old Stated Maturity.

            Unless otherwise indicated on the face of this Security, this
Security may not be redeemed prior to Stated Maturity. If so indicated on the
face of this Security, this Security may be redeemed, at the option of the
Company, on any date on or after the date set forth on the face hereof, either
in whole or from time to time in part at a redemption price equal to 100% of the
principal amount redeemed, together with interest accrued and unpaid thereon to
the date of redemption. Notice of redemption shall be mailed to the Holders of
the Securities designated for redemption at their addresses as the same shall
appear in the Security Register not less than 30 and not more than 60 days prior
to the date of redemption, subject to all the conditions and provisions of the
Indenture. In the event of any redemption, the Company will not be required to
(1) issue, register the transfer of, or exchange any Security during a period
beginning at the opening of business 15 days before any selection of Securities
to be redeemed and ending at the close of business on the date of mailing of the
relevant notice of redemption or (2) register the transfer or exchange of any
Security, or any portion thereof, called for redemption, except the unredeemed
portion of any Security being redeemed in part. Only a new Security or
Securities for the amount of the unredeemed portion hereof shall be issued in
the name of the Holder hereof upon the cancellation hereof.

            If so provided on the face of this Security, the Security will be
subject to repayment at the option of the Holder on the date or dates so
indicated on the face hereof. If no date or dates for such repayment are set
forth on the face hereof, this Security will not be repayable at the option of
the Holder prior to Stated Maturity. On an optional repayment date, if any, this
Security will be repayable in whole or in part in increments of $1,000 at the
option of the Holder at a price equal to 100% of the principal amount to be
repaid, together with interest thereon payable to the date of repayment, if not
more than 60 nor less than 30 days prior to the date or dates of repayment set
forth on the face hereof, the Company receives either (a) the Security with the
form entitled "Option to Elect Repayment" on the reverse of the Security duly
completed or (b) a telegram, telex, facsimile transmission or letter from a
member of a national securities exchange or the National Association of
Securities Dealers, Inc. or a commercial bank or a trust company in the United
States of America stating the name of the Holder of the Security, the principal
amount of the Security, the amount of the Security to be repaid, a statement
that the option to elect repayment is being exercised, and a guarantee that the
Security to be repaid with the form entitled "Option to Elect Repayment" on the
reverse of the Security duly completed will be received by the Company within
five Business Days after the date of the telegram, telex, facsimile transmission
or letter, and the security and form duly completed are so received by the
Company. Any notice of this effect received by the Company will be irrevocable.
The final and binding determination of all questions as to the validity,
eligibility (including time of receipt) and acceptance of this Security for
repayment will be made by the Company. In the event of repayment of this
Security in part only, a new Security for the unrepaid portion hereof shall be
issued in the name of the Holder hereof upon the surrender hereof.

            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.

            Unless otherwise specified on the face hereof, if (1) this Security
is issued with original issue discount (as defined in the Internal Revenue Code
of 1986, as amended)( the "Code"), and (2) the principal hereof is declared to
be due and payable immediately, the amount of principal due and payable with
respect hereto shall be limited to the Principal Amount hereof multiplied by the
sum of the Issue Price hereof (expressed as a percentage of the Principal Amount
hereof); plus the aggregate portions of the original issue discount (consisting
of the excess of the amounts considered as part of the "stated redemption price
at maturity" of the Security within the meaning of Section 1273(a)(2) of the
Code, whether denominated as principal or interest, over the Issue Price), which
have
<PAGE>
accrued pursuant to Section 1272 of the Code (without regard to Section
1272(a)(7) of the Code) from the date of issuance of the Security to the date of
determination; and minus any amount paid from the date of issuance up to the
date of determination which is considered part of the "stated redemption price
at maturity" of the Security.

            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 not less than 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 not less than a majority in
principal amount of the outstanding Securities of any 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 hereof or in lieu
hereof, whether or not notation of such consent or waiver is made upon this
Security.

            No reference herein to the Indenture and no provisions 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, premium,
if any, and interest on this Security at the times, places and rate, and in the
coin or currency, herein prescribed. However, the Indenture limits Holder's
rights to enforce the Indenture and this Security.

            This Security is exchangeable only if (1) the Depositary notifies
the Company that it is unwilling or unable to continue as Depositary for this
Global 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 the time specified in the
Indenture, or (2) the Company in its sole discretion determines that all Global
Securities of the same series as this Security shall be exchangeable for
definitive Securities of differing denominations aggregating a like amount in
registered form. If this Security is exchangeable pursuant to the preceding
sentence, it shall be exchangeable for definitive Securities of differing
denominations aggregating a like amount in registered form in denominations of
$1,000 and integral multiples of $1,000 in excess thereof, bearing interest at
the same rate, having the same date of issuance, redemption provisions, if any,
Stated Maturity and other terms.

            The Depositary will not sell, assign, transfer or otherwise convey
any beneficial interest in this Security unless such beneficial interest is in
an amount equal to $1,000 or an integral multiple of $1,000 in excess thereof.
The Depositary, by accepting this Security, agrees to be bound by such
provision.

            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 none of
the Company, the Trustee or any such agent shall be affected by notice to the
contrary.

            THE INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY AND
CONSTITUTED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

            All terms used in this Security which are defined in the Indenture
shall have the meanings assigned to them in the Indenture.
<PAGE>
            IN WITNESS WHEREOF, the Company has caused this instrument to be
duly executed under its corporate seal as of the Dated Date set forth on the
face hereof.

                                 INTERNATIONAL LEASE FINANCE CORPORATION

[Seal]

                                 By:
                                       ----------------------------------
                                       Chairman of the Board

                                       ----------------------------------
                                       President

Attest:

----------------------------------
         Secretary

            Unless the certificate of authentication hereon has been executed by
The Bank of New York, the Trustee under the Indenture, or its successor
thereunder, by the manual signature of one of its authorized signatories or
authorized Authenticating Agents, this Note shall not be entitled to any
benefits under the Indenture, or be valid or obligatory for any purpose.

                          CERTIFICATE OF AUTHENTICATION

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

Date of Registration:

                                       THE BANK OF NEW YORK,
                                       as Trustee

                                       By
                                            ------------------------------------
                                            Authorized Signatory
<PAGE>
[FORM OF ASSIGNMENT]

                                  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), assign(s) and
transfer(s) unto

Please insert Social Security or Other
Identifying Number of Assignee         _________________________________

PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE

______________________________________________________

______________________________________________________

the within Note and all rights thereunder, hereby irrevocably constituting and
appointing

_____________________________________________________ Attorney to transfer said
Note 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 on the face of the
                                                within instrument in every
                                                particular, without alteration
                                                or enlargement, or any change
                                                whatever.
<PAGE>
                            OPTION TO ELECT REPAYMENT

            The undersigned hereby irrevocably requests and instructs the
Company to repay the within Security (or portion thereof specified below)
pursuant to its terms at a price equal to the principal amount thereof, together
with interest to the repayment date, to the undersigned.

            The undersigned acknowledges that for the within Security to be
repaid, the Company must receive at the offices or agencies of the Trustee in
The City of New York, during the period specified in this Security (1) the
Security with this "Option to Elect Repayment" form duly completed, or (2) a
telegram, telex, facsimile or letter from a member of a national securities
exchange or the National Association of Securities Dealers, Inc. or a commercial
bank or a trust company in the United States of America setting forth the name
of the Holder of the Security, the principal amount of the Security, the amount
of the Security to be repaid, a statement that the option to elect repayment is
being exercised thereby and a guarantee that the Security to be repaid with the
"Option to Elect Repayment" form duly completed will be received by the Company
not later than five Business Days after the date of such telegram, telex,
facsimile transmission or letter and such Security and form duly completed are
received by the Company by such fifth Business Day. Any such notice received by
the Company during the period specified in this Security shall be irrevocable.

            If less than the entire principal amount of the within Security is
to be repaid, specify the portion thereof (which shall be $1,000 or an integral
multiple thereof) which the Holder elects to have repaid: $______________; and
specify the denomination or denominations (which shall be $1,000 or an integral
multiple thereof) of the Security or Securities to be issued to the Holder for
the portion of the within Security not being repaid (in the absence of any such
specification, one such Security will be issued for the portion not being
repaid): $______________.

Dated:

                                       _________________________________________
                                       Note: The signature to this Option to
                                       Elect Repayment must correspond with the
                                       name as it appears upon the face of the
                                       within Security in every particular
                                       without alteration or enlargement or any
                                       change whatever.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}]]