There is one caveat, however. The note doesn't recognize ntfs drives. It will say that a usb drive is present. But it will also say that there is nothing on the disk. A fat32 sdcatd is recognized fine.
Btw, with the 5 pin to 11 pin adapter, with a microsd power supply, I can successfully connect it to my tv via hdmi.
My USB thumb drive works fine with the OTG cable I referred to on my S4 (I'll have my Note on Wednesday). But yes, you will need to format the drive to fat32 or exfat. Android cannot access ntfs, which is the default file system for WinXP and up.