Filed Pursuant to Rule 433
Registration No.: 333-214640
January 18, 2017
Pricing Term Sheet
FINAL PRICING TERMS OF THE REPUBLIC OF TURKEY USD 2,000,000,000 6.000% NOTES DUE MARCH 25, 2027
| ISSUER: | The Republic of Turkey | |
| SECURITIES: | 6.000% Notes due March 25, 2027 | |
| PRICING DATE: | January 18, 2017 | |
| ISSUE FORMAT: | Global (SEC-Registered) | |
| EXPECTED RATINGS OF THE NOTES*: | Ba1 (Moody’s) / BBB- (Fitch) | |
| ISSUE SIZE: | USD 2,000,000,000 | |
| PRICE TO PUBLIC: | 98.858% | |
| TOTAL FEES: | USD 1,500,000 (0.075%) | |
| NET PROCEEDS TO ISSUER: | USD 1,975,660,000 | |
| YIELD TO MATURITY: | 6.150% per annum | |
| COUPON: | 6.000% per annum, payable semi-annually on a 30/360-day basis | |
| MATURITY DATE: | March 25, 2027 | |
| SPREAD TO US TREASURY: | 375.7 bps | |
| BENCHMARK US TREASURY: | 2.000% US Treasury due November 15, 2026 | |
| BENCHMARK US TREASURY YIELD: | 2.393% | |
| DENOMINATIONS: | USD 200,000/USD 1,000 | |
| INTEREST PAYMENT DATES: | March 25 and September 25 in each year, beginning on September 25, 2017 (long first coupon) | |
| CUSIP / ISIN: | 900123 CL2 / US900123CL22 | |
| EXPECTED LISTING: | Luxembourg Stock Exchange, Regulated Market | |
| LEAD-MANAGERS/BOOKRUNNERS: | Barclays Bank PLC Citigroup Global Markets Inc. Goldman Sachs International QNB Capital LLC | |
| SETTLEMENT DATE: | Expected January 23, 2017 (T+3) through the book-entry facilities of The Depository Trust Company | |
* A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
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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, any prospectus supplement or free writing prospectus for this offering if you request it by calling toll-free Barclays Bank PLC at +1-888-603-5847, Citigroup Global Markets Inc. at +1-800-831-9146 or Goldman Sachs International at +1-866-471-2526.
The preliminary prospectus supplement relating to the notes is available under the following link:
http://www.sec.gov/Archives/edgar/data/869687/000119312517011754/d320965d424b5.htm
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