Filed Pursuant to Rule 433(d)
Registration Statement No. 333-217421
| Free Writing Prospectus |
TERM SHEET
Dated November 7, 2017
U.S.$1,500,000,000 2.125% Guaranteed Bonds Due November 16, 2020 (“3-Year Securities”)
U.S.$1,500,000,000 2.375% Guaranteed Bonds Due November 16, 2022 (“5-Year Securities”)
U.S.$1,500,000,000 2.750% Guaranteed Bonds Due November 16, 2027 (“10-Year Securities”)
| 3-Year Securities | ||
| Issuer: | Japan Bank for International Cooperation (JBIC) | |
| Security: | 2.125% Guaranteed Bonds Due November 16, 2020 (the“3-Year 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: | November 7, 2017 | |
| Settlement Date: | November 16, 2017 | |
| Maturity Date: | November 16, 2020 | |
| Coupon: | 2.125% (Semi-annual, 30/360) | |
| Interest Payment Dates: | May 16 and November 16 of each year, subject to the Business Day Convention, commencing May 16, 2018 and ending November 16, 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: | 99.781%, plus accrued interest, if any, from November 16, 2017 | |
| Underwriting Discount: | 0.100% | |
| Proceeds, before Expenses, to JBIC: | 99.681%, plus accrued interest, if any, from November 16, 2017 | |
| Benchmark U.S. Treasury: | 1.625% due October 15, 2020 | |
| Benchmark Yield: | 1.737% | |
| Spread: | 46.40bps | |
| Yield to Investors: | 2.201% | |
| Joint Lead Managers: | J.P. Morgan Securities plc | |
| Barclays Bank PLC | ||
| Daiwa Capital Markets Europe Limited | ||
| Goldman Sachs International | ||
| Format: | SEC-Registered | |
| Clearing Systems: | Euroclear and Clearstream (international global bond held at the common depositary); DTC (DTC global bond) | |
| International Global Bond ISIN: | XS1716246142 | |
| International Global Bond Common Code: | 171624614 | |
| DTC Global Bond ISIN: | US471048BN74 | |
| DTC Global Bond Common Code: | 171694388 | |
| DTC Global Bond CUSIP: | 471048 BN7 | |
| 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 Securities | ||
| Issuer: | Japan Bank for International Cooperation (JBIC) | |
| Security: | 2.375% Guaranteed Bonds Due November 16, 2022 (the“5-Year 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: | November 7, 2017 | |
Settlement Date: | November 16, 2017 | |
Maturity Date: | November 16, 2022 | |
Coupon: | 2.375% (Semi-annual, 30/360) | |
Interest Payment Dates: | May 16 and November 16 of each year, subject to the Business Day Convention, commencing May 16, 2018 and ending November 16, 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: | 99.836%, plus accrued interest, if any, from November 16, 2017 | |
Underwriting Discount: | 0.125% | |
Proceeds, before Expenses, to JBIC: | 99.711%, plus accrued interest, if any, from November 16, 2017 | |
Benchmark U.S. Treasury: | 2.000% due October 31, 2022 | |
Benchmark Yield: | 1.982% | |
Spread: | 42.80bps | |
Yield to Investors: | 2.410% | |
Joint Lead Managers: | J.P. Morgan Securities plc | |
Barclays Bank PLC | ||
Daiwa Capital Markets Europe Limited | ||
Goldman Sachs International | ||
Format: | SEC-Registered | |
Clearing Systems: | Euroclear and Clearstream (international global bond held at the common depositary); DTC (DTC global bond) | |
International Global Bond ISIN: | XS1716246498 | |
International Global Bond Common Code: | 171624649 | |
| DTC Global Bond ISIN: | US471048BP23 | |
| DTC Global Bond Common Code: | 171694400 | |
| DTC Global Bond CUSIP: | 471048 BP2 | |
| 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 Securities | ||
| Issuer: | Japan Bank for International Cooperation (JBIC) | |
| Security: | 2.750% Guaranteed Bonds Due November 16, 2027 (the“10-year 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: | November 7, 2017 | |
| Settlement Date: | November 16, 2017 | |
| Maturity Date: | November 16, 2027 | |
| Coupon: | 2.750% (Semi-annual, 30/360) | |
| Interest Payment Dates: | May 16 and November 16 of each year, subject to the Business Day Convention, commencing May 16, 2018 and ending November 16, 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: | 99.922%, plus accrued interest, if any, from November 16, 2017 | |
| Underwriting Discount: | 0.175% | |
| Proceeds, before Expenses, to JBIC: | 99.747%, plus accrued interest, if any, from November 16, 2017 | |
| Benchmark U.S. Treasury: | 2.250% due August 15, 2027 | |
| Benchmark Yield: | 2.307% | |
| Spread: | 45.20bps | |
| Yield to Investors: | 2.759% | |
| Joint Lead Managers: | J.P. Morgan Securities plc | |
| Barclays Bank PLC | ||
| Daiwa Capital Markets Europe Limited | ||
| Goldman Sachs International | ||
| Format: | SEC-Registered | |
| Clearing Systems: | Euroclear and Clearstream (international global bond held at the common depositary); DTC (DTC global bond) | |
| International Global Bond ISIN: | XS1716246571 | |
| International Global Bond Common Code: | 171624657 | |
| DTC Global Bond ISIN: | US471048BQ06 | |
| DTC Global Bond Common Code: | 171694426 | |
| DTC Global Bond CUSIP: | 471048 BQ0 | |
| 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:
https://www.sec.gov/Archives/edgar/data/1551322/000119312517333501/d267920d424b5.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 page S-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 J.P. Morgan Securities plc at1-212-834-4533, Barclays Bank PLC, c/o Broadridge Financial Solutions, toll-free from the United States at1-888-603-5847, Daiwa Capital Markets Europe Limited at+44-20-7597-8000 or Goldman Sachs International toll-free from the United States at1-866-471-2526.
