| Free Writing Prospectus | Filed Pursuant to Rule 433(d) |
TERM SHEET
Dated May 24, 2017
U.S.$1,500,000,000 2.125% Guaranteed Bonds Due June 1, 2020 (“3-Year Fixed Rate Securities”)
U.S.$1,500,000,000 2.500% Guaranteed Bonds Due June 1, 2022 (“5-Year Fixed Rate Securities”)
U.S.$1,500,000,000 2.875% Guaranteed Bonds Due June 1, 2027 (“10-Year Fixed Rate Securities”)
U.S.$500,000,000 Floating Rate Guaranteed Bonds Due June 1, 2020 (“Floating Rate Securities”)
| 3-Year Fixed Rate Securities | ||
Issuer: | Japan Bank for International Cooperation (JBIC) | |
Security: | 2.125% Guaranteed Bonds Due June 1, 2020 (the“3-Year Fixed Rate Securities”) | |
Expected Ratings: | Moody’s: A1/stable outlook; S&P: A+/stable outlook | |
| Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to suspension, reduction or withdrawal at any time | ||
Guarantee: | Payments of principal and interest are unconditionally and irrevocably guaranteed by Japan | |
Ranking: | Senior unsecured | |
Currency / Principal Amount: | U.S.$1,500,000,000 | |
Denomination: | U.S.$200,000 x U.S.$2,000 | |
Pricing Date: | May 24, 2017 | |
Settlement Date: | June 1, 2017 | |
Maturity Date: | June 1, 2020 | |
Coupon: | 2.125% (Semi-annual, 30/360) | |
Interest Payment Dates: | June 1 and December 1 of each year, subject to the Business Day Convention, commencing December 1, 2017 and ending June 1, 2020 | |
Business Day: | Any day on which commercial banks and foreign exchange markets settle payments and are open for general business (including dealings in foreign exchange and foreign currency deposits) in: (a) the relevant place of payment and (b) The City of New York, London and Tokyo. | |
Business Day Convention: | Following Business Day Convention, unadjusted | |
Redemption after the Occurrence of a Tax Event: | JBIC may redeem all, but not less than all, of the bonds in the event of certain changes relating to Japanese taxation at 100% of the principal amount thereof plus accrued interest thereon and any additional amounts JBIC is required to pay, as described in the prospectus supplement | |
| Price to Public: | 99.919%, plus accrued interest, if any, from June 1, 2017 | |
| Underwriting Discount: | 0.100% | |
| Proceeds, before Expenses, to JBIC: | 99.819%, plus accrued interest, if any, from June 1, 2017 | |
| Benchmark U.S. Treasury: | 1.500% due May 15, 2020 | |
| Benchmark Yield: | 1.468% | |
| Spread: | 68.50 bps | |
| Yield to Investors: | 2.153% | |
| Joint Lead Managers: | Nomura International plc | |
| Merrill Lynch, Pierce, Fenner & Smith | ||
| Incorporated | ||
| Goldman Sachs International | ||
| Mizuho Securities USA LLC | ||
| Format: | SEC-Registered | |
| Clearing Systems: | Euroclear and Clearstream (international global bond held at the common depositary); DTC (DTC global bond) | |
| International Global Bond ISIN: | XS1608625569 | |
| International Global Bond Common Code: | 160862556 | |
| DTC Global Bond ISIN: | US471048BC10 | |
| DTC Global Bond Common Code: | 160806826 | |
| DTC Global Bond CUSIP: | 471048 BC1 | |
| Use of Proceeds: | The net proceeds of the issue of the bonds will be used for the Ordinary Operations of JBIC | |
| Governing Law: | The State of New York | |
| Listing: | Luxembourg Stock Exchange’s Euro MTF Market | |
| 5-Year Fixed Rate Securities | ||
| Issuer: | Japan Bank for International Cooperation (JBIC) | |
| Security: | 2.500% Guaranteed Bonds Due June 1, 2022 (the“5-Year Fixed Rate Securities”) | |
| Expected Ratings: | Moody’s: A1/stable outlook; S&P: A+/stable outlook | |
| Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to suspension, reduction or withdrawal at any time | ||
| Guarantee: | Payments of principal and interest are unconditionally and irrevocably guaranteed by Japan | |
| Ranking: | Senior unsecured | |
| Currency / Principal Amount: | U.S.$1,500,000,000 | |
| Denomination: | U.S.$200,000 x U.S.$2,000 | |
| Pricing Date: | May 24, 2017 | |
| Settlement Date: | June 1, 2017 | |
| Maturity Date: | June 1, 2022 | |
| Coupon: | 2.500% (Semi-annual, 30/360) | |
| Interest Payment Dates: | June 1 and December 1 of each year, subject to the Business Day Convention, commencing December 1, 2017 and ending June 1, 2022 | |
| Business Day: | Any day on which commercial banks and foreign exchange markets settle payments and are open for general business (including dealings in foreign exchange and foreign currency deposits) in: (a) the relevant place of payment and (b) The City of New York, London and Tokyo. | |
| Business Day Convention: | Following Business Day Convention, unadjusted | |
| Redemption after the Occurrence of a Tax Event: | JBIC may redeem all, but not less than all, of the bonds in the event of certain changes relating to Japanese taxation at 100% of the principal amount thereof plus accrued interest thereon and any additional amounts JBIC is required to pay, as described in the prospectus supplement | |
| Price to Public: | 99.902%, plus accrued interest, if any, from June 1, 2017 | |
| Underwriting Discount: | �� | 0.125% |
| Proceeds, before Expenses, to JBIC: | 99.777%, plus accrued interest, if any, from June 1, 2017 | |
| Benchmark U.S. Treasury: | 1.875% due April 30, 2022 | |
| Benchmark Yield: | 1.802% | |
| Spread: | 71.90 bps | |
| Yield to Investors: | 2.521% | |
| Joint Lead Managers: | Nomura International plc | |
| Merrill Lynch, Pierce, Fenner & Smith | ||
| Incorporated | ||
| Goldman Sachs International | ||
| Mizuho Securities USA LLC | ||
| Format: | SEC-Registered | |
| Clearing Systems: | Euroclear and Clearstream (international global bond held at the common depositary); DTC (DTC global bond) | |
International Global Bond ISIN: | XS1608625643 | |
International Global Bond Common Code: | 160862564 | |
DTC Global Bond ISIN: | US471048BD92 | |
DTC Global Bond Common Code: | 160807113 | |
DTC Global Bond CUSIP: | 471048 BD9 | |
Use of Proceeds: | The net proceeds of the issue of the bonds will be used for the Ordinary Operations of JBIC | |
Governing Law: | The State of New York | |
Listing: | Luxembourg Stock Exchange’s Euro MTF Market | |
| 10-Year Fixed Rate Securities | ||
Issuer: | Japan Bank for International Cooperation (JBIC) | |
Security: | 2.875% Guaranteed Bonds Due June 1, 2027 (the“10-year Fixed Rate Securities”) | |
Expected Ratings: | Moody’s: A1/stable outlook; S&P: A+/stable outlook | |
| Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to suspension, reduction or withdrawal at any time | ||
Guarantee: | Payments of principal and interest are unconditionally and irrevocably guaranteed by Japan | |
Ranking: | Senior unsecured | |
Currency / Principal Amount: | U.S.$1,500,000,000 | |
Denomination: | U.S.$200,000 x U.S.$2,000 | |
Pricing Date: | May 24, 2017 | |
Settlement Date: | June 1, 2017 | |
Maturity Date: | June 1, 2027 | |
Coupon: | 2.875% (Semi-annual, 30/360) | |
Interest Payment Dates: | June 1 and December 1 of each year, subject to the Business Day Convention, commencing December 1, 2017 and ending June 1, 2027 | |
Business Day: | Any day on which commercial banks and foreign exchange markets settle payments and are open for general business (including dealings in foreign exchange and foreign currency deposits) in: (a) the relevant place of payment and (b) The City of New York, London and Tokyo. | |
Business Day Convention: | Following Business Day Convention, unadjusted | |
Redemption after the Occurrence of a Tax Event: | JBIC may redeem all, but not less than all, of the bonds in the event of certain changes relating to Japanese taxation at 100% of the principal amount thereof plus accrued interest thereon and any additional amounts JBIC is required to pay, as described in the prospectus supplement | |
Price to Public: | 99.750%, plus accrued interest, if any, from June 1, 2017 | |
Underwriting Discount: | 0.175% | |
Proceeds, before Expenses, to JBIC: | 99.575%, plus accrued interest, if any, from June 1, 2017 | |
Benchmark U.S. Treasury: | 2.375% due May 15, 2027 | |
Benchmark Yield: | 2.259% | |
Spread: | 64.50 bps | |
Yield to Investors: | 2.904% | |
Joint Lead Managers: | Nomura International plc | |
| Merrill Lynch, Pierce, Fenner & Smith | ||
| Incorporated | ||
| Goldman Sachs International | ||
| Mizuho Securities USA LLC | ||
Format: | SEC-Registered | |
Clearing Systems: | Euroclear and Clearstream (international global bond held at the common depositary); DTC (DTC global bond) | |
International Global Bond ISIN: | XS1608625999 | |
International Global Bond Common Code: | 160862599 | |
DTC Global Bond ISIN: | US471048BE75 | |
DTC Global Bond Common Code: | 160807245 | |
DTC Global Bond CUSIP: | 471048 BE7 | |
Use of Proceeds: | The net proceeds of the issue of the bonds will be used for the Ordinary Operations of JBIC | |
Governing Law: | The State of New York | |
Listing: | Luxembourg Stock Exchange’s Euro MTF Market | |
| Floating Rate Securities | ||
Issuer: | Japan Bank for International Cooperation (JBIC) | |
Security: | Floating Rate Guaranteed Bonds Due June 1, 2020 (the “Floating Rate Securities”) | |
Expected Ratings: | Moody’s: A1/stable outlook; S&P: A+/stable outlook | |
| Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to suspension, reduction or withdrawal at any time | ||
Guarantee: | Payments of principal and interest are unconditionally and irrevocably guaranteed by Japan | |
Ranking: | Senior unsecured | |
Currency / Principal Amount: | U.S.$500,000,000 | |
Denomination: | U.S.$200,000 x U.S.$2,000 | |
Pricing Date: | May 24, 2017 | |
Settlement Date: | June 1, 2017 | |
Maturity Date: | June 1, 2020 | |
Coupon: | Three-Month U.S. Dollar London interbank offered rate (LIBOR) plus 0.48% (Quarterly, Actual/360) | |
Interest Payment Dates: | March 1, June 1, September 1 and December 1 of each year, subject to the Business Day Convention, commencing September 1, 2017 and ending June 1, 2020. | |
Business Day: | Any day on which commercial banks and foreign exchange markets settle payments and are open for general business (including dealings in foreign exchange and foreign currency deposits) in: (a) the relevant place of payment and (b) The City of New York, London and Tokyo. | |
Business Day Convention: | Modified Following Business Day Convention, adjusted, for Interest Payment Date (other than Maturity Date), and Following Business Day Convention, unadjusted, for Maturity Date | |
Calculation Agent: | The Bank of Tokyo-Mitsubishi UFJ, Ltd., London Branch, also acting through MUFG Union Bank, N.A. | |
Redemption after the Occurrence of a Tax Event: | JBIC may redeem all, but not less than all, of the bonds in the event of certain changes relating to Japanese taxation at 100% of the principal amount thereof plus accrued interest thereon and any additional amounts JBIC is required to pay, as described in the prospectus supplement | |
Price to Public: | 100.000%, plus accrued interest, if any, from June 1, 2017 | |
Underwriting Discount: | 0.100% | |
Proceeds, before Expenses, to JBIC: | 99.900%, plus accrued interest, if any, from June 1, 2017 | |
Joint Lead Managers: | Nomura International plc | |
| Merrill Lynch, Pierce, Fenner & Smith | ||
| Incorporated | ||
| Goldman Sachs International | ||
| Mizuho Securities USA LLC | ||
Format: | SEC-Registered | |
Clearing Systems: | Euroclear and Clearstream (international global bond held at the common depositary); DTC (DTC global bond) | |
International Global Bond ISIN: | XS1608626021 | |
International Global Bond Common Code: | 160862602 | |
DTC Global Bond ISIN: | US471048BF41 | |
DTC Global Bond Common Code: | 160807296 | |
DTC Global Bond CUSIP: | 471048 BF4 | |
Use of Proceeds: | The net proceeds of the issue of the bonds will be used for the Ordinary Operations of JBIC | |
Governing Law: | The State of New York | |
Listing: | Luxembourg Stock Exchange’s Euro MTF Market | |
You can access JBIC’s most recent prospectus satisfying the requirements of Section 10 of the United States Securities Act of 1933, as amended, at the following website:
http://www.sec.gov/Archives/edgar/data/1551322/000119312517178684/d375266d424b5.htm
Each purchaser of the bonds offered hereby will be deemed to have represented that it is a person who falls into the category of (i) or (ii) as set forth on pageS-3 of the foregoing prospectus supplement.
JBIC has filed a registration statement (including a prospectus) with the United States Securities and Exchange Commission (SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents JBIC has filed with the SEC for more complete information about JBIC and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, JBIC, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Nomura International plc at1-212-667-1695, Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free from the United States at1-800-294-1322, Goldman Sachs International toll-free from the United States at1-866-471-2526 or Mizuho Securities USA LLC toll-free from the United States at1-866-271-7403.
