Filed Pursuant to Rule 433
Registration Statement No. 333-155481
January 7, 2009
Republic of the Philippines
US$1,500,000,000 8.375% Global Bonds due 2019
Final Term Sheet
| Issuer | Republic of the Philippines | |
Issue currency | US$ | |
Amount issued | US$ 1,500,000,000 | |
Security type | Senior Unsecured Bonds | |
Coupon | 8.375% | |
Coupon dates | June 17 and December 17 | |
Maturity date | June 17, 2019 | |
CUSIP | 718286 BE6 | |
Price to public | 99.158% | |
Proceeds, before fees and expenses | US$ 1,487,370,000 | |
Settlement date | January 14, 2009 | |
Reference benchmark | 3.750% UST due November 2018 | |
Benchmark yield | 2.501% | |
Re-offer spread over benchmark | 599.90 bps | |
Re-offer yield | 8.500% | |
Denominations | US$100k/1k | |
Day count | 30/360 | |
Joint Bookrunners | Credit Suisse, Deutsche Bank, HSBC |
The issuer has filed a registration statement (including a prospectus) with the Securities and Exchange Commission for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the Securities and Exchange Commission for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the Web site of the Securities and Exchange Commission atwww.sec.gov. Alternatively, an underwriter or dealer participating in the offering will arrange to send you the prospectus if you request it by calling Credit Suisse toll-free at 1-800-221-1037 or Deutsche Bank toll-free at 1-800-50304611 or HSBC toll-free at 1-866-811-8049.
The prospectus can be accessed through the following link:
http://www.sec.gov/Archives/edgar/data/1030717/000119312509002082/d424b3.htm
