Filed Pursuant to Rule 433
Registration No. 333-214640
May 4, 2017
Pricing Term Sheet
FINAL PRICING TERMS OF THE REPUBLIC OF TURKEY USD 1,750,000,000 5.750% NOTES DUE MAY 11, 2047
| ISSUER: | The Republic of Turkey | |
| SECURITIES: | 5.750% Notes due May 11, 2047 | |
| PRICING DATE: | May 4, 2017 | |
| ISSUE FORMAT: | Global (SEC Registered) | |
| EXPECTED RATINGS OF THE NOTES*: | Ba1 (Moody’s) / BB+ (Fitch) | |
| ISSUE SIZE: | USD 1,750,000,000 | |
| PRICE TO PUBLIC: | 98.247% | |
| TOTAL FEES: | USD 1,312,500 (0.075%) | |
| NET PROCEEDS TO ISSUER: | USD 1,718,010,000 | |
| YIELD TO MATURITY: | 5.875% per annum | |
| COUPON: | 5.750% per annum, payable semi-annually on a 30/360-day basis | |
| MATURITY DATE: | May 11, 2047 | |
| SPREAD TO US TREASURY: | 286.7 bps | |
| BENCHMARK US TREASURY: | 2.875% US Treasury due November 15, 2046 | |
| BENCHMARK US TREASURY YIELD: | 3.008% | |
| DENOMINATIONS: | USD 200,000/USD 1,000 | |
| INTEREST PAYMENT DATES: | May 11 and November 11, beginning on November 11, 2017 | |
| CUSIP / ISIN: | 900123 CM0 / US900123CM05 | |
| EXPECTED LISTING: | Luxembourg Stock Exchange (Regulated Market) | |
| LEAD-MANAGERS/BOOKRUNNERS: | Citigroup Global Markets Inc. Deutsche Bank Securities Inc. Goldman Sachs International | |
| SETTLEMENT DATE: | Expected May 11, 2017 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 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 calling toll-free Citigroup Global Markets Inc. at +1-800-831-9146, Deutsche Bank Securities Inc. at +1-800-503-4611 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/869687/000119312517157854/d383711d424b5.htm
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