Issuer Free Writing Prospectus
Filed pursuant to Rule 433(d)
Registration No. 333-212752
May 10, 2017
Export Development Canada / Exportation et développement Canada (“EDC”)
U.S.$1,250,000,000 2.000% United States Dollar Bonds due 2022
Final Term Sheet
May 10, 2017
Issuer: | Export Development Canada / Exportation et développement Canada |
Title: | 2.000% United States Dollar Bonds due 2022 |
Existing Long Term Issuer Ratings*: | Aaa Stable (Moody’s), AAA Stable (S&P) |
Format: | SEC Registered |
Size: | U.S.$1,250,000,000 |
Trade Date: | May 10, 2017 |
Settlement Date: | May 17, 2017 (T+5) |
Maturity Date: | May 17, 2022 |
Callable: | No, unless a change in the laws or regulations of Canada would require the payment by EDC of additional amounts on the bonds. |
Interest Payment Dates: | Semi-annually on May 17 and November 17, commencing on November 17, 2017. Interest will accrue from May 17, 2017. |
First Interest Payment Date: | November 17, 2017 |
Benchmark Treasury: | UST 1.875% due April 30, 2022 |
Benchmark Treasury Price and Yield: | 99-27 1⁄4 / 1.906% Semi-annual |
Spread to Benchmark Treasury: | +14.45 bps |
Yield to Maturity: | 2.051% |
Coupon: | 2.000%, accruing from May 17, 2017 |
Price: | 99.759% plus accrued interest, if any, from May 17, 2017 |
Day Count: | 30/360 following unadjusted |
Specified Currency: | United States Dollars (“$”) |
Minimum Denomination: | $5,000 and increments of $5,000 in excess thereof |
Listing: | Euro MTF Market of the Luxembourg Stock Exchange |
Status: | The bonds will carry the full faith and credit of Canada. The payment of the principal of and interest on the bonds will constitute a charge on and be payable out of the Consolidated Revenue Fund of Canada. |
Governing Law: | Province of Ontario / Canada |
Business Days: | London, New York, Toronto |
Representatives: | BMO Capital Markets Corp. |
Citigroup Global Markets Inc.
Merrill Lynch, Pierce, Fenner & Smith
Incorporated
RBC Capital Markets, LLC
Co-managers: | Barclays Bank PLC |
BNP Paribas
CIBC World Markets Corp.
Crédit Agricole Corporate and Investment Bank
Daiwa Capital Markets Europe Limited
Deutsche Bank AG, London Branch
Goldman Sachs International
HSBC Bank plc
J.P. Morgan Securities plc
Mizuho International plc
Morgan Stanley & Co. International plc
Nomura International plc
Scotia Capital (USA) Inc.
TD Securities (USA) LLC
Billing and Delivering: | RBC Capital Markets, LLC |
Settlement: | DTC, CDS, Euroclear, Clearstream |
CUSIP Number: | 30216B GT3 |
ISIN: | US30216BGT35 |
Reference Document: | Prospectus Supplement, subject to completion, dated May 10, 2017 and Prospectus dated August 4, 2016. |
| https://www.sec.gov/Archives/edgar/data/276328/000119312517165272/d394051d424b2.htm |
Legends: | If and to the extent that this announcement is communicated in, or the offer of the bonds to which it relates is made in, any European Economic Area Member State that has implemented Directive (2003/71/EC) (and amendments thereto, including Directive 2010/73/EU) (the “Prospectus Directive”), this announcement and the offer are only addressed to and directed at persons in that Member State who are qualified investors within the meaning of the Prospectus Directive (or who are other persons to whom the offer may lawfully be addressed) and must not be acted upon by other persons in that Member State. |
| This document is for distribution only to persons who: (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Financial Promotion Order”), (ii) are persons falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations etc”) of the Financial Promotion Order, (iii) are outside the United Kingdom, or (iv) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000, as amended (including the Financial Services Act 2012)) in connection with the issue or sale of any Bonds may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as “relevant persons”). This document is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this document relates is available only to relevant persons and will be engaged in only with relevant persons. |
| This document does not constitute or form part of any offer or invitation to sell these bonds and is not soliciting any offer to buy these bonds in any jurisdiction where such offer or sale is not permitted. This document is, for the purposes of Article 15 of the Prospectus Directive, not a prospectus but an advertisement. This document, the prospectus supplement and the base prospectus have been prepared on the basis that all offers of bonds in any member state of the European Economic Area (a “Relevant Member State”) will be made pursuant to an exemption under the Prospectus Directive, as implemented in that Relevant Member State, from the requirement to produce and publish a prospectus for offers of the bonds. Neither this document nor the prospectus supplement nor the base prospectus have been approved as a prospectus by a competent authority in any Relevant Member State and accordingly none is a prospectus for the purposes of the Prospectus Directive. |
* A securities rating is not a recommendation to buy, sell, or hold securities and may be subject to revision or withdrawal at any time.
| This communication is intended for the sole use of the person to whom it is provided by the Issuer. |
The Issuer has filed a registration statement (including a prospectus) with the SEC 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 SEC for more complete information about the Issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-866-864-7760 for BMO Capital Markets Corp., 1-800-831-9146 for Citigroup Global Markets Inc., 1-800-294-1322 for Merrill Lynch, Pierce, Fenner & Smith Incorporated or 1-866-375-6829 for RBC Capital Markets, LLC.
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