Obbligazione Asia Development Bank 1.625% ( NZADBDT010C8 ) in NZD

Emittente Asia Development Bank
Prezzo di mercato 100 NZD  ▲ 
Paese  Filippine
Codice isin  NZADBDT010C8 ( in NZD )
Tasso d'interesse 1.625% per anno ( pagato 2 volte l'anno)
Scadenza 27/01/2025 - Obbligazione è scaduto



Prospetto opuscolo dell'obbligazione Asian Development Bank NZADBDT010C8 in NZD 1.625%, scaduta


Importo minimo 1 000 NZD
Importo totale 300 000 000 NZD
Descrizione dettagliata La Banca Asiatica di Sviluppo (ADB) è un'istituzione finanziaria internazionale che fornisce prestiti e assistenza tecnica ai paesi in via di sviluppo dell'Asia e del Pacifico per promuovere la crescita economica e la riduzione della povertà.

Si presenta un'analisi dettagliata riguardante l'obbligazione con codice ISIN NZADBDT010C8, uno strumento di debito emesso dalla Asian Development Bank (ADB), un'istituzione finanziaria internazionale di primo piano, con sede nelle Filippine, la cui missione principale è promuovere lo sviluppo economico e sociale nella regione Asia-Pacifico attraverso finanziamenti e assistenza tecnica, e che gode di un elevato standing creditizio sul mercato globale; denominato in Dollari Neozelandesi (NZD), questo titolo prevedeva un tasso d'interesse nominale fisso del 1.625%, con pagamenti cedolari semestrali, e aveva una dimensione complessiva dell'emissione pari a 300 milioni di NZD, con un lotto minimo di acquisto stabilito a 1.000 NZD, la cui scadenza finale era fissata per il 27 gennaio 2025 e, come confermato, l'obbligazione è giunta a piena maturità ed è stata regolarmente rimborsata al 100% del suo valore nominale, a testimonianza della puntualità e affidabilità dell'emittente nell'adempimento dei propri impegni finanziari.








Pricing Supplement
Series No.:
NZD-010-00-1
Tranche No.:
1




ASIAN DEVELOPMENT BANK
N.Z.$5,000,000,000 Domestic Medium-Term Note Programme
Issue of
N.Z.$300,000,000 1.625 per cent. Notes due 28 January 2025
This Pricing Supplement (as referred to in the Information Memorandum dated 27 January 2010 and
Deed Poll dated 27 January 2010 in relation to the above Programme) relates to the Tranche of Notes
referred to above. The particulars to be specified in relation to such Tranche are as follows.
The Issuer is not a registered bank in New Zealand pursuant to the Reserve Bank of New Zealand
Act 1989. The Notes are not the obligations of any government and, in particular, are not
guaranteed by the Government of New Zealand.
This Pricing Supplement should be read in conjunction with the Conditions of the Notes as set out in the
Information Memorandum.
1
Description of Notes:
Fixed Rate Notes
2
Issuer:
Asian Development Bank
3
Lead Managers and Dealers:
Bank of New Zealand
The Toronto-Dominion Bank
4
Registrar and Paying Agent:
Computershare Investor Services Limited
5
Type of Issue:
Underwritten sale
6
Currency:

(a)
of Denomination
New Zealand dollars (N.Z.$)
(b)
of payment
N.Z.$
7
Aggregate principal amount of Tranche:
N.Z.$300,000,000
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8
Issue Date:
28 January 2020
9
Issue Price:
99.870936 per cent. of the aggregate principal
amount of the Tranche
10
Denomination(s):
(a) Outside New Zealand, N.Z.$1,000 and integral
multiples thereof, and (b) within New Zealand,
N.Z.$100,000 and multiples of N.Z.$1,000
thereafter, subject to the requirement that the
amount payable by each person who subscribes for
the Notes must be at least N.Z.$750,000
11
Rating:


Programme Rating:
As at the date of this Pricing Supplement, the
Programme has been rated AAA by S&P Global
Ratings, a division of S&P Global Inc. (formerly
Standard & Poor's Ratings Services, a division of
the McGraw-Hill Companies, Inc.), AAA by

Fitch, Inc. and Aaa by Moody's Investors Service,
Inc.

Notes Rating:
As at the date of this Pricing Supplement, the Notes
have been rated AAA by S&P Global Ratings, a
division of S&P Global Inc., AAA by Fitch, Inc. and
Aaa by Moody's Investors Service, Inc.
12
Business Day:
Wellington and Auckland
13
If the Notes are Fixed Rate Notes:
Condition 6 shall apply

Fixed coupon amount:
The amount of interest payable to each Noteholder
will be calculated by applying the Interest Rate to
the outstanding nominal amount held by that
Noteholder, multiplying such sum by the Day Count
Fraction, and rounding the resultant figure to the
nearest sub-unit being rounded upwards or
otherwise in accordance with the applicable market
convention. The Interest Rate is fixed and will
remain the same from the Issue Date until the
Maturity Date.

Interest Rate:
1.625 per cent. per annum payable semi-annually in
arrear

Interest Payment Dates:
28 January and 28 July in each year, beginning
28 July 2020, up to and including the Maturity Date

Interest Period End Dates:
28 January and 28 July in each year, beginning
28 July 2020, up to and including the Maturity Date,
with no adjustment
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Business Day Convention:

(a)
for Interest Payment Dates:
Following
(b)
for Maturity Date:
Following
(c)
for Interest Period End Dates:
No adjustment
(d)
for any other dates:
Following

Day Count Fraction:
NZ Govt Bond Basis
14
Redemption Amount:
Redemption at par
15
Early Redemption Amount:
Not applicable
16
Early Redemption Date (Call):
Not applicable
17
Early Redemption Date (Put):
Not applicable
18
Maturity Date:
28 January 2025
19
Record Date:
10 calendar days before the relevant Interest
Payment Date or, if not a Business Day, the
immediately preceding Business Day
20
Listing:
Not applicable
21
Any Clearing System other than the Euroclear and Clearstream
NZClear System:
22
ISIN:
NZADBDT010C8
23
Common Code:
211038993
24
Modification to selling restrictions:
The selling restrictions for New Zealand and
Singapore set out in clause 2 and clause 8,
respectively, of Schedule 5 of the Programme
Agreement are changed for the purpose of clause
7.4 of the Programme Agreement as set out in
Schedule 1 to this Pricing Supplement.
For the purposes of paragraph (a) of the section of
the Information Memorandum entitled "Documents
Incorporated by Reference", the statements in the
sections of the Information Memorandum entitled
"Selling Restrictions ­ New Zealand" and "Selling
Restrictions ­ Singapore" are amended and
supplemented as set out in Schedule 1 to this
Pricing Supplement.
25
Modification to tax opinion:
The "Non-resident withholding tax" and "Resident
withholding tax" statements in the section of the
Information Memorandum entitled "New Zealand
and United States Federal Taxation ­ New Zealand"
are amended and supplemented as set out in
Schedule 2 to this Pricing Supplement.
26
Recent Developments:
On 22 April 2019, Ahmed M. Saeed succeeded
Stephen P. Groff as Vice-President for Operations
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2.
On 4 May 2019, ADB's Board of Governors
approved the following with respect to its 2018
reported net income of U.S.$726.1 million, after
appropriation of guarantee fees to the special
reserve:
a. U.S.$139.0
million,
representing
adjustments for the net unrealized loss for
the year ended 31 December 2018, be
added from the cumulative revaluation
adjustments account;
b. U.S.$23. 7
million,
representing
the
adjustment to the loan loss reserve as of 31
December 2018, be added to the loan loss
reserve;
c. U.S.$499.0 million be allocated to the
ordinary reserve;
d. U.S.$259.4 million be allocated to the Asian
Development Fund;
e. U.S.$80.0 million be allocated to the
Technical Assistance Special Fund; and
f. U.S.$3.0 million be allocated to the
Financial Sector Development Partnership
Special Fund.
On 17 January 2020, Masatsugu Asakawa
succeeded T akehiko Nakao as President.
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Schedule 1
New Zealand selling restriction
The Notes must not be offered for sale or subscription in New Zealand in breach of the Financial Markets
Conduct Act 2013 (the FMC Act (N.Z.)). Notes may not be offered or sold except in compliance with all
applicable laws and regulations in any jurisdiction in which they are offered, sold or delivered. No offering
document in respect of any Notes may be published, delivered, or distributed in or from any country or
jurisdiction except under the circumstances that will result in compliance with all applicable laws and
regulations. The Issuer does not intend that the Notes be offered for sale or subscription in New Zealand as
a "regulated offer" within the meaning of the FMC Act (N.Z.). Accordingly, no product disclosure statement
has been prepared or will be lodged in terms of the FMC Act (N.Z.), and no person may, directly or
indirectly, subscribe for, offer, sell, transfer, deliver or distribute any Information Memorandum, information,
advertisement or other offering material relating to the Notes, in breach of the FMC Act (N.Z.).
Each Dealer has represented and agreed, and each further Dealer appointed under the Programme will be
required to represent and agree, that:
(A)
it has not offered, sold or transferred, and will not offer, sell or transfer, directly or indirectly, any
Notes; and
(B)
it has not distributed, and will not distribute, directly or indirectly, the Information Memorandum, the
relevant Pricing Supplement, any other offering memorandum or document or any advertisement in
relation to any offer of the Notes,
in each case in New Zealand, other than:
(a)
to persons who are "wholesale investors" within the meaning of clause 3(2)(a), (c) or (d) or
3(3)(b) of Schedule 1 to the FMC Act (N.Z.), being persons who fall within one or more of
the following categories of "wholesale investor":
(i)
a person who is required to pay a minimum subscription price of at least
N.Z.$750,000 for the Notes (disregarding any amount lent by the offeror, the Issuer
or any associated person of the offeror or the Issuer) before the issue, sale or
transfer of those Notes; or
(ii)
a person who is:
(A) an "investment business";
(B) "large"; or
(C) a "government agency",
in each case, as defined in Schedule 1 to the FMC Act (N.Z.); or
(b)
in other circumstances where there is no contravention of the FMC Act (N.Z.) (provided that
Notes may not be offered, sold or transferred to any person that is a "wholesale investor"
under the FMC Act (N.Z.) solely because that person is an "eligible investor" (as defined in
clause 41 of Schedule 1 of the FMC Act (N.Z.)) or that person meets the investment activity
criteria specified in clause 38 of Schedule 1 of the FMC Act (N.Z.)).
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In addition, each Dealer will be required to represent and agree that Notes may only be transferred to
persons who hold a certificate of exemption from resident withholding tax in New Zealand, a copy of which
has been submitted to the Registrar.
Singapore selling restriction

The Information Memorandum has not been registered as a prospectus with the Monetary Authority of
Singapore. Each Dealer has represented and agreed that it will not offer or sell the Notes nor make the
Notes the subject of an invitation for subscription or purchase, nor will it circulate or distribute the
Information Memorandum or any other document or material in connection with the offer or sale, or invitation
for subscription or purchase, of the Notes, whether directly or indirectly, to any person in Singapore other
than:
(a) to an accredited investor;

(b) to an expert investor;

(c) to an institutional investor; or

(d) to any other person that is not an individual,
as such terms are defined in the Securities and Futures Act (Cap. 289) (as amended) of Singapore.



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Schedule 2 ­ New Zealand Taxation

Non-resident withholding tax

The Issuer enjoys certain exemptions from New Zealand tax under the International Finance Agreements
Act and the Income Tax Act 2007. As a result, the Issuer and the Paying Agent are not required to withhold
New Zealand non-resident withholding tax from any payment of premium or interest in respect of the Notes
where the beneficial owner of the Note is a non-resident of New Zealand to which the non-resident
withholding tax rules in the Income Tax Act 2007 apply.

Resident withholding tax

As a result also, the Issuer is exempt from the requirement to withhold resident withholding tax ("RWT") from
any payment of premium or interest in respect of a Note to a New Zealand resident beneficial owner (or a
non-resident beneficial owner to which the RWT rules in the Income Tax Act 2007 apply). The Registrar will
not have an obligation under the Income Tax Act 2007 to withhold RWT if the person receiving the payment
from the Registrar has a valid certificate of exemption from RWT and has submitted a copy to the Registrar
or, from 1 April 2020, has RWT-exempt status.

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Document Outline