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Inter 2042 | LSE:42BI | London | Medium Term Loan |
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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
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2015 02:00 ET (07:00 GMT)
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
(MORE TO FOLLOW) Dow Jones Newswires
November 03, 2015 02:00 ET (07:00 GMT)
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