Filed Pursuant to Rule 433
Registration Nos. 333-170923
333-191209
November 18, 2013
PRICING TERM SHEET
| 5.750% Notes due 2023 |
Issuer: | Hungary |
Format: | SEC Registered |
Security: | 5.750% Notes due 2023 |
Size: | US$2,000,000,000 |
Maturity Date: | November 22, 2023 |
Coupon: | 5.750% |
Interest Payment Dates: | Semi-annual on May 22 and November 22 in each year, commencing May 22, 2014 |
Day Count Convention: | ISMA – 30/360 |
Price to Public: | 98.657% |
Benchmark Treasury: | UST 2.75% due November 15, 2023 |
Benchmark Treasury Yield: | 2.680% |
Spread to Benchmark Treasury: | + 325 bps |
Yield: | 5.930% |
Expected Settlement Date (T+4): | November 22, 2013 |
CUSIP: | 44554JAJ5 |
ISIN: | US445545AJ57 |
Anticipated Ratings: | Ba1 by Moody’s Investors Service, Inc. |
Joint Book-Running Managers: | BNP Paribas |
Form: | The Notes will be book-entry securities in fully registered form, without coupons, registered in the name of Cede & Co., as nominee of DTC, in minimum denominations of US$2,000 and integral multiples thereof. |
Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
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 if you request it by calling BNP Paribas at +1 (800) 854-5674, 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.