Filed Pursuant to Rule 433
RegistrationNo. 333-221073
January 9, 2018
Pricing Term Sheet
FINAL PRICING TERMS OF THE REPUBLIC OF TURKEY USD 2,000,000,000 5.125% NOTES DUE 2028
| ISSUER: | The Republic of Turkey | |
| SECURITIES: | 5.125% Notes due February 17, 2028 | |
| PRICING DATE: | January 9, 2018 | |
| ISSUE FORMAT: | Global (SEC Registered) | |
| EXPECTED RATINGS OF THE NOTES*: | Ba1 negative (Moody’s) / BB+ stable (Fitch) | |
| ISSUE SIZE | USD 2,000,000,000 | |
| PRICE TO PUBLIC: | 99.411% | |
| TOTAL FEES: | USD 1,500,000 (0.075%) | |
| NET PROCEEDS TO ISSUER: | USD 1,986,720,000 | |
| YIELD TO MATURITY: | 5.200% per annum | |
| COUPON: | 5.125% per annum, payable semi-annually on a30/360-day basis | |
| MATURITY DATE: | February 17, 2028 | |
| SPREAD TO BENCHMARK US TREASURY: | 266.7 bps | |
| BENCHMARK US TREASURY: | UST 2.250% due November 15, 2027 | |
| BENCHMARK US TREASURY YIELD: | 2.533% | |
| DENOMINATIONS: | USD 200,000/USD 1,000 | |
| INTEREST PAYMENT DATES: | February 17 and August 17, beginning on August 17, 2018 (long first coupon) | |
| CUSIP / ISIN: | 900123 CP3/US900123CP36 | |
| EXPECTED LISTING: | Luxembourg Stock Exchange (Regulated Market) | |
LEAD-MANAGERS/BOOKRUNNERS: | Citigroup Global Markets Inc. Deutsche Bank Securities Inc. HSBC Bank plc | |
SETTLEMENT DATE: | Expected January 17, 2018 (T+5) through the book-entry facilities of The Depository Trust Company | |
MANUFACTURER TARGET MARKET | Professional clients, eligible counterparties and retail clients (subject to any applicable selling restrictions) (all distribution channels) | |
| * | 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 calling Citigroup Global Markets Inc. at+1-800-831-9146 (toll-free), Deutsche Bank Securities Inc. at+1-800-503-4611 (toll-free), or HSBC Bank plc at+1-866-811-8049 (toll-free).
The preliminary prospectus supplement relating to the notes is available under the following link:
http://www.sec.gov/Archives/edgar/data/869687/000119312518006882/0001193125-18-006882-index.htm
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