Filed Pursuant to Rule 433
Registration No. 333-214640
September 6, 2017
Pricing Term Sheet
FINAL PRICING TERMS OF THE REPUBLIC OF TURKEY USD 1,750,000,000 5.750%
NOTES DUE MAY 11, 2047(RE-OPENING)
| ISSUER: | The Republic of Turkey | |
| SECURITIES: | 5.750% Notes due May 11, 2047(re-opening of existing notes issued on May 11, 2017) | |
| PRICING DATE: | September 6, 2017 | |
| ISSUE FORMAT: | Global (SEC Registered) | |
| EXPECTED RATINGS OF THE NOTES*: | Ba1 negative (Moody’s) / BB+ stable (Fitch) | |
| OUTSTANDING ISSUE SIZE BEFORERE-OPENING: | USD 1,750,000,000 | |
| RE-OPENING AMOUNT OFFERED: | USD 1,750,000,000 | |
| OUTSTANDING ISSUE SIZE AFTERRE-OPENING: | USD 3,500,000,000 | |
| PRICE TO PUBLIC: | 100.703% (plus accrued interest of USD 19.49 per USD 1,000 principal amount) | |
| TOTAL FEES: | USD 1,312,500 (0.075%) | |
| NET PROCEEDS TO ISSUER: | USD 1,760,990,000 (plus accrued interest of USD 34,100,694.44 from May 11, 2017) | |
| YIELD TO MATURITY: | 5.700% 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: | 300.5 bps | |
| BENCHMARK US TREASURY: | UST 3.000% due May 15, 2047 | |
| BENCHMARK US TREASURY YIELD: | 2.695% | |
| DENOMINATIONS: | USD 200,000/USD 1,000 | |
| INTEREST PAYMENT DATES: | May 11 and November 11, beginning on November 11, 2017 (short first coupon) | |
| CUSIP / ISIN / COMMON CODE: | 900123 CM0 / US900123CM05 / 161182915 | |
| EXPECTED LISTING: | Luxembourg Stock Exchange (Regulated Market) | |
| LEAD-MANAGERS/BOOKRUNNERS: | Citigroup Global Markets Inc. Goldman Sachs International Nomura International plc | |
| SETTLEMENT DATE: | Expected September 13, 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.
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 callingCitigroup Global Markets Inc. at+1-800-831-9146 (toll-free), Goldman Sachs International at+1-866-471-2526 (toll-free) or Nomura International plc at+1-800-638-2268 (toll-free).
The preliminary prospectus supplement relating to the notes is available under the following link:
http://www.sec.gov/Archives/edgar/data/869687/000119312517277508/0001193125-17-277508-index.htm
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