Obligation Asian Development Bank 1.375% ( XS1785310340 ) en GBP

Société émettrice Asian Development Bank
Prix sur le marché 100 %  ▲ 
Pays  Philippines
Code ISIN  XS1785310340 ( en GBP )
Coupon 1.375% par an ( paiement annuel )
Echéance 15/12/2023 - Obligation échue



Prospectus brochure de l'obligation Asian Development Bank XS1785310340 en GBP 1.375%, échue


Montant Minimal 1 000 GBP
Montant de l'émission 1 025 000 000 GBP
Description détaillée L'Obligation émise par Asian Development Bank ( Philippines ) , en GBP, avec le code ISIN XS1785310340, paye un coupon de 1.375% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 15/12/2023










PRICING SUPPLEMENT



ASIAN DEVELOPMENT BANK
GLOBAL MEDIUM-TERM NOTE PROGRAM
Series No: 965-03-1
GBP150,000,000
1.375 per cent. Notes due 15 December 2023

(to be consolidated and form a single series with the GBP250,000,000 1.375 per cent. Notes
due 15 December 2023 issued on 1 March 2018, with the GBP100,000,000 1.375 per cent.
Notes due 15 December 2023 issued on 15 June 2018 and with the GBP100,000,000 1.375
per cent. Notes due 15 December 2023 issued on 12 July 2018)


Issue price: 100.301 per cent. plus 158 days' accrued interest

Managers


Nomura

RBC Capital Markets




The date of this Pricing Supplement is 2 August 2018.








This pricing supplement (the "Pricing Supplement") is issued to give details of
an issue of GBP150,000,000 1.375 per cent. Notes due 15 December 2023 (the "Notes") (to be
consolidated and form a single series with the GBP250,000,000 1.375 per cent. Notes due 15
December 2023 issued on 1 March 2018, with the GBP100,000,000 1.375 per cent. Notes due 15
December 2023 issued on 15 June 2018 and with the GBP100,000,000 1.375 per cent. Notes due
15 December 2023 issued on 12 July 2018) by the Asian Development Bank ("ADB") under its
Global Medium-Term Note Program and to provide information supplemental to the Prospectus
referred to below.
This Pricing Supplement supplements the terms and conditions of the Notes set
forth in the Prospectus dated 28 April 2011 (as amended and supplemented and together with the
documents incorporated by reference therein, the "Prospectus") and should be read in conjunction
with the Prospectus. Unless otherwise defined in this Pricing Supplement, capitalized terms used
herein have the meanings given to them in the Prospectus.
The issue of the Notes was authorized pursuant to a global borrowing authorization
of the Board of Directors of ADB dated 13 December 2017.
This Pricing Supplement does not constitute, and may not be used for the purposes
of, an offer or solicitation by anyone in any jurisdiction in which such an offer or solicitation is
not authorized or to any person to whom it is unlawful to make such an offer or solicitation, and
no action is being taken to permit an offering of the Notes or the distribution of this Pricing
Supplement in any jurisdiction where such action is required.
The Notes are not required to be and have not been registered under the U.S.
Securities Act of 1933, as amended. The Notes have not been approved or disapproved by
the U.S. Securities and Exchange Commission or any state securities commission nor has the
Commission or any state securities commission passed upon the accuracy or adequacy of this
Pricing Supplement. Any representation to the contrary is a criminal offense in the United
States.
The distribution of this Pricing Supplement or the Prospectus and the offer and sale
of the Notes may be restricted by law in certain jurisdictions. Persons into whose possession this
Pricing Supplement or the Prospectus comes are required by ADB and the Managers to inform
themselves about and to observe any such restrictions. For a description of certain restrictions on
offers and sales of Notes and on the distribution of this Pricing Supplement or the Prospectus, see
"Plan of Distribution" in the Prospectus.
The Notes are not the obligation of any government.
2





TERMS AND CONDITIONS
The following items are the particular terms and conditions of the Notes to which
this Pricing Supplement relates. In case of any conflict between such terms and conditions and
the terms and conditions set forth in the Prospectus, the terms and conditions set forth in this
Pricing Supplement shall govern.
General Provisions
1.
Issuer:
Asian Development Bank ("ADB").
2.
Series Number:
965-03-1.
3.
(i)
Specified Currency
Pound Sterling ("GBP").
(Condition 1(c)):

(ii)
Specified Principal Payment
Not applicable.
Currency if different from
Specified Currency (Condition
1(c)):

(iii)
Specified Interest Payment
Not applicable.
Currency if different from
Specified Currency (Condition
1(c)):

(iv)
Alternative Currency
Not applicable.
(Condition 7(i)) (if applicable):
4.
Aggregate Nominal Amount:
GBP150,000,000.
The Notes will be consolidated and form a
single series with the GBP250,000,000
1.375 per cent. Notes due

15 December 2023 issued on 1 March 2018,
with the GBP100,000,000 1.375 per cent.
Notes due 15 December 2023 issued on 15
June 2018 and with the GBP100,000,000
1.375 per cent. Notes due 15 December
2023 issued on 12 July 2018.
3





5.
(i)
Issue Price:
100.301 per cent. of the Aggregate Nominal
Amount plus GBP892,500 on account of
accrued interest for 158 days from and
including 1 March 2018 to but excluding the
Issue Date.
(ii)
Net proceeds:
GBP151,344,000 (inclusive of accrued
interest of GBP892,500).
6.
Specified Denominations (Condition
GBP1,000.
1(a)):
7.
(i)
Issue Date (Condition 5(d)):
6 August 2018.
(ii)
Interest Commencement Date
1 March 2018.
(if different from the Issue
Date) (Condition 5(d)):
8.
Maturity Date or Redemption Month
15 December 2023, subject to paragraph 31
(Condition 6(a)):
below.
9.
Interest Basis (Condition 5):
Fixed Rate (Condition 5(a)) (further
particulars specified in paragraph 16
below).
10. Redemption/Payment Basis
Redemption at par.
(Condition 6(a)):
11. Change of Interest or
Not applicable.
Redemption/Payment Basis:
12. Put/Call Options (Conditions 6(e) and
Not applicable.
(f)):
13. Status of the Notes (Condition 3):
Senior.
14. Listing:
Luxembourg Stock Exchange.
15. Method of distribution:
Syndicated.
Provisions Relating to Interest Payable
16. Fixed Rate Note Provisions
Applicable.
(Condition 5(a)):
(i)
Rate(s) of Interest:
1.375 per cent. per annum, payable
annually in arrear.
4





(ii)
Interest Payment Date(s):
15 December of each year, commencing on
15 December 2018 up to and including the
Maturity Date, subject to paragraph 31
below.
(iii) Fixed Coupon Amount(s):
GBP13.75 per Specified Denomination
payable on each Interest Payment Date,
except for the first Interest Payment Date
on 15 December 2018, which is subject to
the Broken Amount per paragraph 16(iv)
below.
(iv)
Broken Amount(s):
GBP10.89 per Specified Denomination.
(v)
Relevant Financial Center:
London.
(vi)
Additional Business Center(s)
New York.
(Condition 5(d)):
(vii) Day Count Fraction (Condition
Actual/Actual (ICMA).
5(d)):
(viii) Determination Date(s):
Not applicable.
(ix)
Other terms relating to the
No Calculation Period shall be adjusted in
method of calculating interest
the event that the first day or last day of
for Fixed Rate Notes:
such period falls on a day that is not a
Business Day.
The last paragraph of Condition 5(a) shall
be replaced in its entirety by the following:
"Interest will cease to accrue on each Fixed
Rate Note on the Maturity Date unless,
upon due presentation thereof, payment of
principal is improperly withheld or
refused, in which event interest will
continue to accrue at the specified Rate of
Interest up to but excluding the earlier of
(i) the date on which actual payment of
principal is made, or (ii) the 15th calendar
day following the receipt of such payment
of principal by the Paying Agent."

17. Floating Rate Note Provisions
Not applicable.
(Condition 5(b)):
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18. Zero Coupon/Deep Discount Note
Not applicable.
Provisions (Conditions 5(c) and 6(c)):
19. Index-Linked Interest Note Provisions: Not applicable.
20. Dual Currency Note Provisions:
Not applicable.

Provisions Relating to Redemption
21. Call Option (Condition 6(e)):
Not applicable.
22. Put Option (Condition 6(f)):
Not applicable.
23. Final Redemption Amount:
Aggregate Nominal Amount.
(i)
Alternative Payment
Not applicable.
Mechanism (Conditions 7(a)
and (c)):
(ii)
Long Maturity Note (Condition
Not applicable.
7(f)):
(iii) Variable Redemption Amount
Not applicable.
(Condition 6(d)):
24. Early Redemption Amount:

(i)
Early Redemption Amount(s)
As set out in the Conditions.
payable on an Event of Default
(Condition 9) and/or the method
of calculating the same (if
required or if different from that
set out in the Conditions):
(ii)
Unmatured Coupons to become Not applicable.
void (Condition 7(f)):
Additional General Provisions Applicable to the Notes
25. Form of Notes:
Registered Notes.
Definitive Registered Notes:
Global Registered Note available on Issue
Date; not exchangeable for individual
Definitive Registered Notes.
26. Talons for future Coupons to be
Not applicable.
attached to definitive Bearer Notes
6





(and dates on which such Talons
mature):
27. Details relating to Partly Paid Notes:
Not applicable.
amount of each payment comprising
the Issue Price and date on which each
payment is to be made and
consequences (if any) of failure to pay,
including any right of ADB to forfeit
the Notes and interest due on late
payment:
28. Details relating to Installment Notes:
Not applicable.
29. Redenomination, renominalization and Not applicable.
reconventioning provisions:
30. Consolidation provisions:
Not applicable.

31. Other terms or special conditions:
If any date for payment of any principal or
interest in respect of the Notes is not a
Business Day, ADB shall not be obliged to
pay such principal or interest until the first
following day that is a Business Day and
shall not be obliged to pay any interest or
other payment in respect of such postponed
payment.
"Business Day" shall mean a day (other
than a Saturday or a Sunday) on which
commercial banks and foreign exchange
markets settle payments and are open for
general business (including dealings in
foreign exchange and foreign currency
deposits) in London and New York.
Distribution
32.
(i)
If syndicated, names of Nomura International plc
Managers:
RBC Europe Limited

(ii)
Stabilizing Manager (if any):
Not applicable.
(iii)
Commissions and
0.00 per cent.
Concessions:
7





33. If non-syndicated, name of Dealer:
Not applicable.
34. Additional selling restrictions:
Not applicable.
Operational Information

35. (i)
ISIN:
XS1785310340.
(ii)
CUSIP:
Not applicable.
(iii)
CINS:
Not applicable.
(iv)
WKN:
Not applicable.
36. Common Code:
178531034.
37. Any clearing system(s) other than
Euroclear and Clearstream, Luxembourg
Euroclear, Clearstream, Luxembourg
only.
and DTC and the relevant identification
number(s):
38. Delivery:
Delivery against payment.
39. Additional Paying Agent(s) (if any):
Not applicable.
40. Governing Law:
English.

Listing Application
This Pricing Supplement comprises the details required to list the issue of Notes
described herein pursuant to the listing of the Global Medium-Term Note Program of ADB.
Material Adverse Change Statement
There has been no material adverse change in the financial position or prospects of
ADB since the date of the financial statements included in the Information Statement of ADB,
which was most recently published on 25 April 2018.
Recent Developments
On 5 May 2018, ADB's Board of Governors approved the following with respect
to its 2017 reported net income of U.S.$753.3 million, after the allocation of income from the
transfer of Asian Development Fund loans and certain other assets to the ordinary reserve and
appropriation of guarantee fees to the special reserve:
a. U.S.$49.0 million, representing the ASC 815/825 adjustments and the
unrealized portion of net income from equity investments accounted for under
the equity method, for the year ended 31 December 2017, be added from the
net income to the cumulative revaluation adjustments account;
8





b. U.S.$14.2 million, representing the adjustment to the loan loss reserve as of
31 December 2017, be added from net income to the loan loss reserve;
c. U.S.$350.7 million be allocated to the ordinary reserve;
d. U.S.$259.4 million be allocated to the Asian Development Fund; and
e. U.S.$80.0 million be allocated to the Technical Assistance Special Fund.
Responsibility
ADB accepts responsibility for the information contained in this Pricing
Supplement which, when read together with the Prospectus referred to above, contains all
information that is material in the context of the issue of the Notes.

ASIAN DEVELOPMENT BANK
By:

Name: MARIA A. LOMOTAN
Title: Assistant Treasurer
9







ISSUER
Asian Development Bank
6 ADB Avenue
Mandaluyong City
1550 Metro Manila
Philippines

GLOBAL AGENT
Citibank, N.A.
Citigroup Centre
Canada Square, Canary Wharf
London E14 5LB
United Kingdom

LUXEMBOURG LISTING AGENT
BNP Paribas Securities Services, Luxembourg Branch
60 Avenue J.F. Kennedy
L-1855 Luxembourg

LEGAL ADVISERS TO THE MANAGERS
Cleary Gottlieb Steen & Hamilton LLP
One Liberty Plaza
New York, NY 10006
USA









Document Outline