Obligation Asia Development Bank 0% ( XS1891423078 ) en GBP

Asia Development Bank

100 % ⇌

Philippines

XS1891423078 ( en GBP )

12/10/2023 - Obligation échue

Prospectus brochure de l'obligation ASIAN DEVELOPMENT BANK XS1891423078 en GBP 0%, échue

1 000 GBP

800 000 000 GBP

La Banque asiatique de développement (BAD) est une institution financière internationale qui ?uvre à réduire la pauvreté et à promouvoir un développement économique et social durable dans l'Asie et le Pacifique.

L'Obligation émise par Asia Development Bank ( Philippines ) , en GBP, avec le code ISIN XS1891423078, paye un coupon de 0% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 12/10/2023

PRICING SUPPLEMENT

ASIAN DEVELOPMENT BANK
GLOBAL MEDIUM-TERM NOTE PROGRAM
Series No: 1021-01-1
GBP200,000,000
Floating Rate Notes due 12 October 2023

(to be consolidated and form a single series with the GBP600,000,000 Floating Rate Notes
due 12 October 2023 issued on 12 October 2018)

Issue price: 99.723 per cent.

Joint Lead Managers

BofA Merrill Lynch
RBC Capital Markets
TD Securities

The date of this Pricing Supplement is 10 January 2019.

This pricing supplement (the "Pricing Supplement") is issued to give details of an
issue of GBP200,000,000 Floating Rate Notes due 12 October 2023 (the "Notes") (to be
consolidated and form a single series with the GBP600,000,000 Floating Rate Notes due
12 October 2023 issued on 12 October 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 7 December 2018.
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:
1021-01-1.
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:
GBP200,000,000.
The Notes will be consolidated and form a
single series with the GBP600,000,000
Floating Rate Notes due 12 October 2023
issued on 12 October 2018.
5.
(i)
Issue Price:
99.723 per cent. of the Aggregate Nominal
Amount.
(ii)
Net proceeds:
GBP199,320,000.
6.
Specified Denominations (Condition
GBP1,000.
1(a)):
7.
(i)
Issue Date (Condition 5(d)):
14 January 2019.
3

(ii)
Interest Commencement Date Not applicable.
(if different from the Issue
Date) (Condition 5(d)):
8.
Maturity Date or Redemption Month
12 October 2023, subject to paragraph 31
(Condition 6(a)):
below.
9.
Interest Basis (Condition 5):
Floating Rate (Condition 5(b)) (further
particulars specified in paragraph 17
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 Not applicable.
(Condition 5(a)):
17. Floating
Rate Note Provisions Applicable.
(Condition 5(b)):
(i)
Specified
Period(s)/Interest 12 January, 12 April, 12 July and 12 October
Payment Date(s):
of each year, commencing on 12 April 2019,
up to and including the Maturity Date,
subject to paragraph 31 below.
(ii)
Business Day Convention Modified Following Business Day
(Condition 5(d)):
Convention.
(iii) Relevant Financial Center:
London.
(iv)
Additional Business Center(s) New York.
(Condition 5(d)):
4

(v)
Manner in which the Rate(s) of Benchmark Rate determination (further
Interest is/are to be determined: particulars specified in the Annex).
(vi)
Party
responsible
for The "Calculation Agent" for the Notes will
calculating the Rate(s) of be Citibank, N.A., London Branch.
Interest and Interest Amount(s)
(if not the Calculation Agent):
(vii) Benchmark Rate determination
(Condition 5(b)):
Applicable.
Interest
Determination Fifth London Banking Day (as defined in
Date(s) (Condition 5(d)):
the Annex) prior to the end of each Interest
Period.
Observation Period:
Five London Banking Days (as further
described in the Annex).
Primary Source for Floating Administrator of SONIA (as defined
Rate:
below).
Benchmark Rate(s) and Sterling
Overnight
Index Average
Reference Rate(s):
("SONIA"), compounded daily (further
particulars specified in the Annex).
(viii) ISDA Determination
(Condition 5(b)):
Not applicable.
(ix)
Margin(s):
+0.25 per cent. per annum
(x)
Minimum Rate of Interest:
Not applicable.
(xi)
Maximum Rate of Interest:
Not applicable.
(xii) Day Count Fraction (Condition
5(d)):
Actual/365 (Fixed).
(xiii) Rate Multiplier (Condition
5(d)):
Not applicable.
(xiv) Fall back provisions, rounding
provisions, denominator and
Fall Back Provisions and any other terms
any other terms relating to the relating to the method of calculating interest
method of calculating interest
on Floating Rate Notes
on Floating Rate Notes, if
different from those set out in
As set forth in the Annex.
the Conditions (Condition
5(b)(ii)):
Rounding Provision
5

For the avoidance of doubt, (a) the Interest
Amount per Specified Denomination shall
not be rounded and (b) the total Interest
Amount payable on the Notes shall be
rounded to two decimal points.
18. Zero Coupon/Deep Discount Note
Not applicable.
Provisions (Conditions 5(c) and 6(c)):
19. Index-Linked Interest Note
Not applicable.
Provisions:
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.
6

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
(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,
unless that day falls in the next calendar
month, in which case such payment shall
be made on the first preceding day that is a
Business Day.
"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
7

32.
(i)
If syndicated, names of Merrill Lynch International
Managers:
RBC Europe Limited
The Toronto-Dominion Bank

(ii)
Stabilizing Manager (if any): Not applicable.
(iii) Commissions and
0.063 per cent.
Concessions:
33. If non-syndicated, name of Dealer:
Not applicable.
34. Additional selling restrictions:
Not applicable.
Operational Information

35. (i)
ISIN:
XS1891423078.
(ii)
CUSIP:
Not applicable.
(iii)
CINS:
Not applicable.
(iv)
WKN:
Not applicable.
36. Common Code:
189142307.
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.
8

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;
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.
On 12 December 2018, Shixin Chen succeeded Wencai Zhang as Vice-President
for Operations 1.
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

ANNEX
The Rate of Interest for each relevant Interest Period shall be determined by the Calculation Agent on each
Interest Determination Date in accordance with the following provisions. The Rate of Interest for each
Interest Period shall apply with effect from the Reset Date for that Interest Period.
The Rate of Interest for each Interest Period will, subject as provided below, be Compounded Daily
SONIA plus the Margin.

Interest Period shall mean the period beginning on and including the Interest Commencement Date to but
excluding the first Interest Payment Date and each successive period beginning on and including an Interest
Payment Date to but excluding the next succeeding Interest Payment Date.

Compounded Daily SONIA will be the rate of return of a daily compound interest investment (with the
daily Sterling overnight reference rate as reference rate for the calculation of interest) and will be calculated
by the Calculation Agent on the Interest Determination Date, as follows, and the resulting percentage will
be rounded, if necessary, to the nearest one ten-thousandth of a percentage point, with 0.00005 being
rounded upwards:

where:
do, for any Interest Period, is the number of London Banking Days in the relevant Interest Period;
i is a series of whole numbers from one to do, each representing the relevant London Banking Days in
chronological order from, and including, the first London Banking Day in the relevant Interest Period;
Interest Determination Date shall mean the fifth London Banking Day prior to the end of each Interest
Period.
Reset Date shall mean the first day of each Interest Period.
London Banking Day or LBD shall mean any day on which commercial banks are open for general
business (including dealing in foreign exchange and foreign currency deposits) in London;
Observation Period shall mean, in respect of an Interest Period, the period from, and including, the date
falling five London Banking Days prior to the first day of such Interest Period (and the first Interest Period
shall begin on and include the Interest Commencement Date) and ending on, but excluding, the date falling
five London Banking Days prior to the Interest Payment Date for such Interest Period (and the last Interest
Period shall end on but exclude the Maturity Date);
SONIAi, in respect of any London Banking Day, "i", in the relevant Observation Period, is a reference rate
equal to the daily Sterling Overnight Index Average (SONIA) rate for such London Banking Day as
provided by the administrator of SONIA to authorised distributors and as then published by such authorised
distributors (on the London Banking Day immediately following such London Banking Day). Therefore
SONIAi-5LBD is the relevant SONIA fixing in the Observation Period as per the above definition;
ni for any day "i" shall mean the number of calendar days from, and including, such day "i" up to, but
excluding, the following London Banking Day; and
d is the number of calendar days in the relevant Interest Period.
If, in respect of any London Banking Day in the relevant Observation Period, the Calculation Agent
determines that the SONIA rate is not available or has not been published by the relevant authorised
10