Filed Pursuant to Rule 433
Registration No. 333-221073
April 16, 2018
Pricing Term Sheet
FINAL PRICING TERMS OF THE REPUBLIC OF TURKEY
USD 2,000,000,000 6.125% NOTES DUE 2028
| ISSUER: | The Republic of Turkey | |
| SECURITIES: | 6.125% Notes due October 24, 2028 | |
| PRICING DATE: | April 16, 2018 | |
| ISSUE FORMAT: | Global (SEC Registered) | |
| EXPECTED RATINGS OF THE NOTES*: | Ba2 stable (Moody’s) / BB+ stable (Fitch) | |
| ISSUE SIZE: | USD 2,000,000,000 | |
| PRICE TO PUBLIC: | 99.427% | |
| TOTAL FEES: | USD 1,500,000 (0.075%) | |
| NET PROCEEDS TO ISSUER: | USD 1,987,040,000 | |
| YIELD TO MATURITY: | 6.200% per annum | |
| COUPON: | 6.125% per annum, payable semi-annually on a30/360-day basis | |
| MATURITY DATE: | October 24, 2028 | |
| SPREAD TO BENCHMARK US TREASURY: | 336.8 bps | |
| BENCHMARK US TREASURY: | UST 2.750% due February 2028 | |
| BENCHMARK US TREASURY YIELD: | 2.832% | |
| DENOMINATIONS: | USD 200,000/USD 1,000 | |
| INTEREST PAYMENT DATES: | April 24 and October 24, beginning on October 24, 2018 | |
| CUSIP / ISIN: | 900123 CQ1/ US900123CQ19 | |
| EXPECTED LISTING: | Luxembourg Stock Exchange (Regulated Market) | |
| LEAD-MANAGERS/BOOKRUNNERS: | Goldman Sachs International HSBC Bank plc J.P. Morgan Securities plc | |
| SETTLEMENT DATE: | Expected April 24, 2018 (T+6) 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 toll-free Goldman Sachs International at+1-866-471-2526 (toll-free), HSBC Bank plc at+1-866-811-8049 (toll free) and J.P. Morgan Securities plc at+1-866-803-9204 (toll-free).
The preliminary prospectus supplement relating to the notes is available under the following link:
http://www.sec.gov/Archives/edgar/data/869687/000119312518118482/d448168d424b5.htm
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