Inter-American Development Bank Issue of Debt (2992E)
November 03 2015 - 2:00AM
UK Regulatory
TIDM42BI
RNS Number : 2992E
Inter-American Development Bank
02 November 2015
PRICING SUPPLEMENT
Inter-American Development Bank
Global Debt Program
Series No: 535
TRY 38,120,000 9.40 percent Notes due October 25, 2018 (the
"Notes")
Issue Price: 99.970 percent
No application has been made to list the Notes on any stock
exchange.
Nomura International plc
The date of this Pricing Supplement is October 20, 2015
Terms used herein shall be deemed to be defined as such for the
purposes of the Terms and Conditions (the "Conditions") set forth
in the Prospectus dated January 8, 2001 (the "Prospectus") (which
for the avoidance of doubt does not constitute a prospectus for the
purposes of Part VI of the United Kingdom Financial Services and
Markets Act 2000 or a base prospectus for the purposes of Directive
2003/71/EC of the European Parliament and of the Council). This
Pricing Supplement must be read in conjunction with the Prospectus.
This document is issued to give details of an issue by the
Inter-American Development Bank (the "Bank") under its Global Debt
Program and to provide information supplemental to the Prospectus.
Complete information in respect of the Bank and this offer of the
Notes is only available on the basis of the combination of this
Pricing Supplement and the Prospectus.
Terms and Conditions
The following items under this heading "Terms and Conditions"
are the particular terms which relate to the issue the subject of
this Pricing Supplement. These are the only terms which form part
of the form of Notes for such issue.
1. Series No.: 535
2. Aggregate Principal Amount: TRY 38,120,000
3. Issue Price: TRY 38,108,564, which is 99.970
percent of the Aggregate Principal
Amount
4. Issue Date: October 27, 2015
5. Form of Notes
(Condition 1(a)): Bearer only.
The Notes will initially be
represented by a temporary global
note in bearer form (the "Temporary
Bearer Global Note"). Interests
in the Temporary Bearer Global
Note will, not earlier than
the Exchange Date, be exchangeable
for interests in a permanent
global note in bearer form (the
"Permanent Bearer Global Note").
Interests in the Permanent Bearer
Global Note will be exchangeable
for definitive Notes in bearer
form ("Definitive Bearer Notes"),
in the following circumstances:
(i) if the Permanent Bearer
Global Note is held on behalf
of a clearing system and such
clearing system is closed for
business for a continuous period
of fourteen (14) days (other
than by reason of holidays,
statutory or otherwise) or announces
its intention to permanently
cease business or does in fact
do so, by any such holder giving
written notice to the Global
Agent; and (ii) at the option
of any such holder upon not
less than sixty (60) days written
notice to the Bank and the Global
Agent from Euroclear and Clearstream,
Luxembourg on behalf of such
holder; provided that no such
exchanges will be made by the
Global Agent, and no Noteholder
may require such an exchange,
during a period of fifteen (15)
days ending on the due date
for any payment of principal
on the Notes.
6. Authorized Denomination(s)
(Condition 1(b)): TRY 10,000
7. Specified Currency
(Condition 1(d)): Turkish Lira ("TRY")
8. Specified Principal Payment
Currency
(Conditions 1(d) and 7(h)): TRY
9. Specified Interest Payment
Currency TRY
(Conditions 1(d) and 7(h)):
10. Maturity Date
(Condition 6(a); Fixed October 25, 2018
Interest Rate): The Maturity Date is subject
to adjustment in accordance
with the Modified Following
Business Day Convention with
no adjustment to the amount
of interest otherwise calculated.
11. Interest Basis
(Condition 5): Fixed Interest Rate (Condition
5(I))
12. Interest Commencement Date
(Condition 5(III)): Issue Date (October 27, 2015)
13. Fixed Interest Rate (Condition
5(I)):
(a) Interest Rate: 9.40 percent per annum
(b) Fixed Rate Interest Semi-annually on April 25 and
Payment Date(s): October 25 in each year, commencing
on April 25, 2016 and ending
on the Maturity Date.
There will be short first Interest
Period from and including the
Issue Date to but excluding
April 25, 2016.
An amount of TRY 464.78 per
Authorized Denomination is payable
on the first Fixed Rate Interest
Payment Date and an amount of
TRY 470.00 per Authorized Denomination
is payable on each Fixed Rate
Interest Payment Date thereafter.
Each Fixed Rate Interest Payment
Date is subject to adjustment
in accordance with the Modified
Following Business Day Convention
with no adjustment to the amount
of interest otherwise calculated.
(c) Fixed Rate Day Count
Fraction(s): 30/360
14. Relevant Financial Center: London, New York and Istanbul
15. Relevant Business Days: London, New York and Istanbul
16. Redemption Amount (Condition
6(a)): TRY 10,000 per Authorized Denomination
17. Issuer's Optional Redemption
(Condition 6(e)): No
18. Redemption at the Option
of the Noteholders (Condition No
6(f)):
19. Early Redemption Amount
(including accrued interest,
if applicable) (Condition In the event the Notes become
9): due and payable as provided
in Condition 9 (Default), the
Early Redemption Amount with
respect to each Authorized Denomination
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will be TRY 10,000 plus accrued
and unpaid interest, if any,
as determined in accordance
with "13. Fixed Interest Rate
(Condition 5(I))".
20. Governing Law: New York
21. Selling Restrictions: (a) United States:
Under the provisions of Section
11(a) of the Inter-American
Development Bank Act, the Notes
are exempted securities within
the meaning of Section 3(a)(2)
of the U.S. Securities Act of
1933, as amended, and Section
3(a)(12) of the U.S. Securities
Exchange Act of 1934, as amended.
Notes in bearer form are subject
to U.S. tax law requirements
and may not be offered, sold
or delivered within the United
States or its possessions or
to U.S. persons, except in certain
circumstances permitted by U.S.
tax regulations.
(b) United Kingdom:
The Dealer agrees that it has
complied and will comply with
all applicable provisions of
the Financial Services and Markets
Act 2000 with respect to anything
done by it in relation to such
Notes in, from or otherwise
involving the United Kingdom.
(c) Republic of Turkey:
The Dealer has acknowledged
and understands that the Notes
have not been, and will not
be, authorized by the Turkish
Capital Markets Board ("CMB")
under the provisions of Law
No. 6362 of the Republic of
Turkey relating to capital markets.
The Dealer has represented,
warranted and agreed that neither
the Prospectus nor any other
material related to the offering
of Notes will be utilized in
connection with any offering
or sale to the public within
the Republic of Turkey for the
purpose of the sale of the Notes
(or beneficial interests therein)
without the prior approval of
the CMB.
In addition, the Dealer has
represented, warranted and agreed
that it has not sold or caused
to be sold, and will not sell
or cause to be sold, outside
the Republic of Turkey the Notes
(or beneficial interests therein)
to residents of the Republic
of Turkey, unless such sale
is authorized pursuant to Article
15(d)(ii) of Decree No. 32 (as
amended from time to time) and
applicable CMB regulations.
(d) Japan:
The Dealer represents that it
is purchasing the Notes as principal
and has agreed that in connection
with the initial offering of
Notes, it has not offered or
sold and will not directly or
indirectly offer or sell any
Notes in Japan or to, or for
the benefit of, any resident
of Japan (including any Japanese
corporation or any other entity
organized under the laws of
Japan), or to others for re-offering
or resale, directly or indirectly,
in Japan or to, or for the benefit
of, any resident of Japan (except
in compliance with the Financial
Instruments and Exchange Law
of Japan (Law no. 25 of 1948,
as amended) and all other applicable
laws and regulations of Japan),
and furthermore undertakes that
any securities dealer to whom
it sells any Notes will agree
that it is purchasing the Notes
as principal and that it will
not offer or sell any notes,
directly or indirectly, in Japan
or to or for the benefit of
any resident of Japan (except
as aforesaid).
(e) General:
No action has been or will be
taken by the Bank that would
permit a public offering of
the Notes, or possession or
distribution of any offering
material relating to the Notes
in any jurisdiction where action
for that purpose is required.
Accordingly, the Dealer agrees
that it will observe all applicable
provisions of law in each jurisdiction
in or from which it may offer
or sell Notes or distribute
any offering material.
Other Relevant Terms
1. Listing: None
2. Details of Clearance System
Approved by the Bank and
the Euroclear Bank SA/NV and/or
Global Agent and Clearance Clearstream Banking, Luxembourg
and
Settlement Procedures:
3. Syndicated: No
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