Filed Pursuant to Rule 433
Registration Statement No. 333-246071
Final Term Sheet for the Notes
The Korea Development Bank
Final Term Sheet for US$1,000,000,000 2.000% Notes due 2025 (the “2025 Notes”)
February 16, 2022
| Issuer | The Korea Development Bank | |
| Issue currency | U.S. DOLLAR (US$) | |
| Issue size | US$1,000,000,000 | |
| Maturity date | February 24, 2025 | |
| Settlement date | On or about February 24, 2022, which will be the 5th business day following the date of this final term sheet. If you wish to trade the 2025 Notes on any day prior to the second business day from the settlement, because the 2025 Notes will initially settle in T+5, you may be required to specify an alternate settlement cycle at the time of your trade to prevent a failed settlement. | |
| Interest rate | 2.000% per annum (payable semi-annually) | |
| Interest payment dates | February 24 and August 24 of each year, commencing on August 24, 2022 and with interest accruing from February 24, 2022. 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 | 99.633% | |
| Gross proceeds | US$996,330,000 | |
| Underwriting discounts | 0.300% | |
| Net proceeds (after deducting underwriting discounts but not estimated expenses) | US$993,330,000 | |
| Denominations | US$200k/1k | |
| Day count | 360-day year consisting of twelve 30-day months | |
Ex-A
| Listing | Approval in-principle has been received from the Singapore Exchange Securities Trading Limited for the listing and quotation of the 2025 Notes. | |
| Governing law | New York | |
| Fiscal Agent | The Bank of New York Mellon | |
| CUSIP | 500630 DQ8 | |
| ISIN | US500630DQ87 | |
| Ratings | Aa2 (Moody’s) / AA (Standard & Poor’s) / AA- (Fitch) | |
| Joint Bookrunners and Joint Lead Managers | BofA Securities, Inc., BNP Paribas1, The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan Securities LLC, KDB Asia Limited, Société Générale and UBS AG Hong Kong Branch2 | |
| Co-manager | KEXIM Asia Limited | |
| 1 | BNP Paribas is a public limited company (société anonyme) incorporated in France. The liability of its members is limited. |
| 2 | UBS AG is incorporated in Switzerland with limited liability. |
Ex-A
Final Term Sheet for the Notes
The Korea Development Bank
Final Term Sheet for US$500,000,000 2.250% Notes due 2027 (the “2027 Notes”)
February 16, 2022
| Issuer | The Korea Development Bank | |
| Issue currency | U.S. DOLLAR (US$) | |
| Issue size | US$500,000,000 | |
| Maturity date | February 24, 2027 | |
| Settlement date | On or about February 24, 2022, which will be the 5th business day following the date of this final term sheet. If you wish to trade the 2027 Notes on any day prior to the second business day from the settlement, because the 2027 Notes will initially settle in T+5, you may be required to specify an alternate settlement cycle at the time of your trade to prevent a failed settlement. | |
| Interest rate | 2.250% per annum (payable semi-annually) | |
| Interest payment dates | February 24 and August 24 of each year, commencing on August 24, 2022 and with interest accruing from February 24, 2022. 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 | 99.489% | |
| Gross proceeds | US$497,445,000 | |
| Underwriting discounts | 0.300% | |
| Net proceeds (after deducting underwriting discounts but not estimated expenses) | US$495,945,000 | |
| Denominations | US$200k/1k | |
| Day count | 360-day year consisting of twelve 30-day months | |
Ex-A
| Listing | Approval in-principle has been received from the Singapore Exchange Securities Trading Limited for the listing and quotation of the 2027 Notes. | |
| Governing law | New York | |
| Fiscal Agent | The Bank of New York Mellon | |
| CUSIP | 500630 DR6 | |
| ISIN | US500630DR60 | |
| Ratings | Aa2 (Moody’s) / AA (Standard & Poor’s) / AA- (Fitch) | |
| Joint Bookrunners and Joint Lead Managers | BofA Securities, Inc., BNP Paribas1, The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan Securities LLC, KDB Asia Limited, Société Générale and UBS AG Hong Kong Branch2 | |
| Co-manager | KEXIM Asia Limited | |
These Final Term Sheets should be read in conjunction with the prospectus dated July 2, 2021, as supplemented by the preliminary prospectus supplement dated February 16, 2022 (the “Preliminary Prospectus”), relating to the Notes. All references to the “Notes” herein and in the Preliminary Prospectus are to the 2025 Notes and the 2027 Notes, collectively.
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 website of the Securities and Exchange Commission 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 BofA Securities, Inc. at +1-800-294-1322.
The most recent prospectus can be accessed through the following link: https://www.sec.gov/Archives/edgar/data/0000869318/000119312522043896/d301326d424b5.htm
Notification under Section 309B(1)(c) of the Securities and Futures Act, Chapter 289 of Singapore (the “SFA”) - the Issuer has determined, and hereby notifies all relevant persons (as defined in Section 309A(1) of the SFA), that the Notes are prescribed capital markets products (as defined in the Securities and Futures (Capital Markets Products) Regulations 2018 of Singapore) and Excluded Investment Products (as defined in MAS Notice SFA 04-N12: Notice on the Sale of Investment Products and MAS Notice FAA-N16: Notice on Recommendations on Investment Products).
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.
| 1 | BNP Paribas is a public limited company (société anonyme) incorporated in France. The liability of its members is limited. |
| 2 | UBS AG is incorporated in Switzerland with limited liability. |
Ex-A
