Filed Pursuant to Rule 433
Registration Statement No. 333-163671
September 29, 2010
Relating to Prospectus Supplement dated September 20, 2010
Final Term Sheet for Cash Offering of Republic of the Philippines
US$200,000,000 4.00% Global Bonds due 2021
Issuer | Republic of the Philippines | |
Issue currency | US$ | |
Amount issued | US$200,000,000 | |
Security type | Senior Unsecured Bonds | |
Coupon | 4.00% | |
Coupon dates | January 15 and July 15 | |
Maturity date | January 15, 2021 | |
CUSIP | 718286 BK2 | |
Price to public | 99.248% | |
Proceeds before expenses | US$198,396,000 | |
Settlement date | October 6, 2010 | |
Reference benchmark | Mid-market 10 year interpolated USD Swap Rate* | |
Benchmark yield | 2.541% | |
Re-offer spread over benchmark | 155 bps | |
Re-offer yield | 4.091% | |
Denominations | US$100k/1k | |
Day count | 30/360 | |
Joint bookrunners | Citigroup Global Markets Inc., The Hongkong and Shanghai Banking Corporation Limited and UBS AG |
| * | as displayed on the Bloomberg IRSB18 screen |
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 Citi toll-free at 1-877-858-5407 or HSBC toll-free at 1-866-811-8049 or UBS AG toll-free at 1-877-827-6444 ext 561-3884.
The prospectus can be accessed through the following link:http://www.sec.gov/Archives/edgar/data/1030717/000119312510212607/d424b3.htm
