Filed Pursuant to Rule 433
Registration No. 333-214640
February 16, 2017
Pricing Term Sheet
FINAL PRICING TERMS OF THE REPUBLIC OF TURKEY USD 1,250,000,000
6.000% NOTES DUE MARCH 25, 2027(RE-OPENING)
| ISSUER: | The Republic of Turkey | |
| SECURITIES: | 6.000% Notes due March 25, 2027(re-opening of existing notes issued on January 23, 2017) | |
| PRICING DATE: | February 16, 2017 | |
| ISSUE FORMAT: | Global(SEC-Registered) | |
EXPECTED RATINGS OF THE NOTES*: | Ba1 (Moody’s) / BB+ (Fitch) | |
| OUTSTANDING ISSUE SIZE BEFORERE-OPENING: | USD 2,000,000,000 | |
| RE-OPENING AMOUNT OFFERED: | USD 1,250,000,000 | |
| OUTSTANDING ISSUE SIZE AFTERRE-OPENING: | USD 3,250,000,000 | |
| PRICE TO PUBLIC: | 102.639% (plus accrued interest of USD 5.00 per USD 1,000 principal amount) | |
| TOTAL FEES: | USD 937,500 (0.075%) | |
| NET PROCEEDS TO ISSUER: | USD 1,282,050,000 plus accrued interest of USD 6,250,000 from January 23, 2017 | |
| YIELD TO MATURITY: | 5.650% per annum | |
| COUPON: | 6.000% per annum, payable semi-annually on a30/360-day basis | |
| MATURITY DATE: | March 25, 2027 | |
| SPREAD TO US TREASURY: | 320.5 bps | |
| BENCHMARK US TREASURY: | 2.250% US Treasury due February 2027 | |
| BENCHMARK US TREASURY YIELD: | 2.445% | |
| DENOMINATIONS: | USD 200,000/USD 1,000 | |
| INTEREST PAYMENT DATES: | March 25and September 25 in each year, beginning on September 25, 2017 (long first coupon) | |
| CUSIP / ISIN / COMMON CODE: | 900123 CL2 / US900123CL22 / 155614269 | |
| EXPECTED LISTING: | Luxembourg Stock Exchange, Regulated Market | |
| LEAD-MANAGERS/BOOKRUNNERS: | BNP Paribas J.P. Morgan Securities plc MUFG Securities EMEA plc | |
| SETTLEMENT DATE: | Expected February 23, 2017 (T+4 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.
This communication is intended for the sole use of the person to whom it is provided by us.
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 atwww.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 callingBNP Paribas at+1-800-854-5674 (toll-free), J.P. Morgan Securities plc at+1-866-803-9204 (toll-free) or MUFG Securities EMEA plc at +44 20 7577 2206.
The preliminary prospectus supplement relating to the notes is available under the following link:
http://www.sec.gov/Archives/edgar/data/869687/000119312517046100/0001193125-17-046100-index.htm
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