Filed Pursuant to Rule 433
Registration No. 333-214640
June 7, 2017
Pricing Term Sheet
FINAL PRICING TERMS OF THE REPUBLIC OF TURKEY EUR 1,000,000,000
3.250% NOTES DUE JUNE 14, 2025
ISSUER: | The Republic of Turkey | |
SECURITIES: | 3.250% Notes due June 14, 2025 | |
PRICING DATE: | June 7, 2017 | |
ISSUE FORMAT: | Global (SEC Registered) | |
EXPECTED RATINGS OF THE NOTES*: | Ba1 negative (Moody’s) / BB+ stable (Fitch) | |
ISSUE SIZE: | EUR 1,000,000,000 | |
PRICE TO PUBLIC: | 99.123% | |
TOTAL FEES: | EUR 750,000 (0.075%) | |
NET PROCEEDS TO ISSUER: | EUR 990,480,000 | |
YIELD TO MATURITY: | 3.377% per annum | |
COUPON: | 3.250% per annum, payable annually on an Actual/Actual day count basis | |
MATURITY DATE: | June 14, 2025 | |
SPREAD TO MID-SWAP: | 285 bps | |
RELEVANT MID-SWAP RATE: | 8 year EUR Mid-swap (0.527%) | |
SPREAD TO BENCHMARK: | 343.4bps | |
BENCHMARK BOND: | 0.500% DBR due Feb 2025 | |
BENCHMARK YIELD: | -0.057% | |
DENOMINATIONS: | EUR 100,000/EUR 1,000 | |
INTEREST PAYMENT DATES: | Annual in arrears on June 14 in each year and ending on the maturity date; first interest payment date on June 14, 2018 | |
| CUSIP / US ISIN / XS ISIN / INTERNATIONAL COMMON CODE: | 900123 CN8 / US900123CN87/ XS1629918415/ 162991841 | |
EXPECTED LISTING: | Luxembourg Stock Exchange (Regulated Market) | |
JOINT BOOKRUNNERS: | BNP Paribas HSBC Bank plc UniCredit Bank AG | |
SETTLEMENT DATE: | Expected, June 14, 2017 through the book-entry facilities of The Depository Trust Company, Euroclear Bank S.A./N.V. or Clearstream Banking S.A.. | |
*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 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 BNP Paribas at +1-800-854-5674, HSBC Bank plc at +1-866-811-8049 or UniCredit Bank AG at +1-800-493-2203.
The preliminary prospectus supplement relating to the notes is available under the following link:
http://www.sec.gov/Archives/edgar/data/869687/000119312517195419/d351073d424b5.htm
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