Like every other Note devices, the Galaxy Note 4 is expected to be more powerful than the Galaxy S5 while bearing that same price tag.
The 2014 phablet from Samsung is expected to be the ideal device which will run on the much rumoured 64-bit processor. However, there is a huge debate on whether it will be the Exynos or the Snapdragon chip. More importantly, the new 64-bit processor will open the doors to more RAM size so expect the Note 4 to feature at least 4GB RAM.
There is also that rumour which heavily suggests the Note 4 to feature a three-sided display. If this is true, then the device will be one of a kind as well.
Other improvement expected for the Samsung Galaxy Note 4 include a re-designed S-pen, new look, a more powerful LTE receptor and the new Android 4.5.
As for when the Note 4 will arrive, expect it to repeat the same release pattern, which happens on September.