Filed Pursuant to Rule 433
Registration Statement No. 333-197061
Final Term Sheet for the Notes
The Korea Development Bank
Final Term Sheet for US$750,000,000 2.50% Notes due 2020 (the “Notes”)
September 2, 2014
Issuer | The Korea Development Bank | |
| Issue currency | U.S. DOLLAR (US$) | |
| Issue size | US$750,000,000 | |
| Maturity date | March 11, 2020 | |
| Settlement date | On or about September 11, 2014, which will be the seventh business day following the date of this final term sheet. If you wish to trade the Notes on the date of this final term sheet or the next three succeeding business days, because the Notes will initially settle in T+7, you may be required to specify an alternate settlement cycle at the time of your trade to prevent a failed settlement. | |
| Interest rate | 2.50%per annum (payable semi-annually) | |
| Interest payment dates | March 11 and September 11 of each year, commencing on March 11, 2015 and with interest accruing from September 11, 2014. If any Interest Payment Date or the Maturity Date shall be a day on which banking institutions in The City of New York or Seoul are authorized or obligated by law to close, then such payment will not be made on such date but will be made on the next succeeding day which is not a day on which banking institutions in The City of New York or Seoul are authorized or obligated by law to close, with the same force and effect as if made on the date for such payment, and no interest shall be payable in respect of any such delay. | |
| Public offering price | 99.980% | |
| Gross proceeds | US$749,850,000 | |
| Underwriting discounts | 0.30% | |
| Net proceeds (after deducting underwriting discounts but not estimated expenses) | US$747,600,000 | |
| Denominations | US$200k/1k | |
| Day count | 360-day year consisting of twelve 30-day months | |
| Listing | Approval in-principle has been received from the Singapore Exchange Securities Trading Limited for the listing and quotation of the Notes. | |
| Governing Law | New York | |
| Fiscal Agent | The Bank of New York Mellon | |
| CUSIP | 500630 CD8 | |
| ISIN | US500630CD83 | |
| Ratings | Aa3 (Moody’s)/ AA- (Fitch) | |
| Joint Bookrunners and Joint Lead Managers | BNP Paribas, Hong Kong Branch, Deutsche Bank AG, Singapore Branch, J.P. Morgan Securities LLC, KDB Asia Limited, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Mizuho Securities USA Inc. and Standard Chartered Bank | |
This Final Term Sheet should be read in conjunction with the prospectus dated August 14, 2014, as supplemented by the preliminary prospectus supplement dated September 2, 2014 (the “Prospectus Supplement”), relating to the Notes. (the “Prospectus Supplement”), relating to the Notes. The Prospectus Supplement shall be amended as follows:
1. The paragraph under the heading “Delivery of the Notes” on page S-7 shall be deleted and replaced with the following:
“We expect to make delivery of the Notes, against payment in same-day funds on or about September 11, 2014, which we expect will be the seventh business day following the date of this prospectus supplement, referred to as “T+7.” You should note that initial trading of the Notes may be affected by the T+7 settlement. See “Underwriting—Delivery of the Notes.””
2. The paragraph under the heading “Delivery of the Notes” on page S-22 shall be deleted and replaced with the following:
“We expect to make delivery of the Notes, against payment in same-day funds on or about September 11, 2014, which we expect will be the seventh business day following the date of this prospectus supplement. Under Rule 15c6-l promulgated under the Securities Exchange Act of 1934, as amended, U.S. purchasers are generally required to settle trades in the secondary market in three business days, unless they and the other parties to any such trade expressly agree otherwise. Accordingly, if you wish to trade in the Notes on the date of this prospectus supplement or the next three succeeding business days, because the Notes will initially settle in T+7, you may be required to specify an alternate settlement cycle at the time of your trade to prevent a failed settlement. Purchasers in other countries should consult with their own advisors.
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 free of charge by visiting EDGAR on the Website 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 1-212-834-4533.
The most recent prospectus can be accessed through the following link:
http://www.sec.gov/Archives/edgar/data/869318/000119312514327918/d742860d424b5.htm
ANY DISCLAIMER OR OTHER NOTICES THAT MAY APPEAR AFTER THIS MESSAGE ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER E-MAIL SYSTEM.
