Obligation Africa Development Bank 20% ( XS1899129438 ) en TRY

Société émettrice Africa Development Bank
Prix sur le marché 100 %  ▲ 
Pays  Cote d'Ivoire
Code ISIN  XS1899129438 ( en TRY )
Coupon 20% par an ( paiement annuel )
Echéance 02/11/2022 - Obligation échue



Prospectus brochure de l'obligation African Development Bank XS1899129438 en TRY 20%, échue


Montant Minimal 10 000 TRY
Montant de l'émission 250 000 000 TRY
Description détaillée La Banque africaine de développement (BAD) est une institution financière de développement multilatérale qui ?uvre à réduire la pauvreté et à améliorer les conditions de vie en Afrique en finançant des projets de développement économique et social.

L'Obligation émise par Africa Development Bank ( Cote d'Ivoire ) , en TRY, avec le code ISIN XS1899129438, paye un coupon de 20% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 02/11/2022







MiFID II product governance / Eligible counterparties, professional investors and retail
investors target market - The Issuer is not subject to Directive 2014/65/EU (as amended, MiFID II)
or the requirements of an "investment firm," "manufacturer" or "distributor" under the MIFID
product governance rules of EU Delegated Directive 2017/593. For purposes of MiFID II, the Dealer
shall be deemed the "manufacturer" in respect of the Notes. Solely for the purposes of the
manufacturer's product approval process, the target market assessment in respect of the Notes has led
to the conclusion that: (i) the target market for the Notes is eligible counterparties, professional clients
and retail clients, each as defined in MiFID II; and (ii) all channels for distribution of the Notes to
eligible counterparties, professional clients and retail clients are appropriate, subject to the
distributor's suitability and appropriateness obligations under MiFID II, as applicable. Any person
subsequently offering, selling or recommending the Notes (a "distributor") should take into
consideration the manufacturer's target market assessment; however, a distributor subject to MiFID II
is responsible for undertaking its own target market assessment in respect of the Notes (by either
adopting or refining the manufacturer's target market assessment) and determining appropriate
distribution channels, with all sales subject to the distributor's suitability and appropriateness
obligations under MiFID II, as applicable.
For the avoidance of doubt, the target market assessment does not constitute a recommendation to any
investor or group of investors to invest in, or purchase, or take any other action whatsoever with
respect to the Notes.
Pricing Supplement dated 30 October 2018
AFRICAN DEVELOPMENT BANK
Global Debt Issuance Facility
for issues of Notes with maturities of one day or longer
Issue of TRY 250,000,000 20 per cent. Notes due 2 November 2022 (the Notes)
This document constitutes the Pricing Supplement relating to the issue of Notes described herein. This
Pricing Supplement constitutes Final Terms for the purposes of listing and trading Notes on the
Regulated Market of the Luxembourg Stock Exchange. Terms used herein shall be deemed to be
defined as such for the purposes of the Conditions set forth in the Information Memorandum dated 8
September 2009, as supplemented by the Supplemental Information Memorandum dated 16 January
2017 (as so supplemented, the Information Memorandum). This Pricing Supplement contains the
final terms of the Notes and must be read in conjunction with such Information Memorandum.
1.
Issuer:
African Development Bank
2.
(i) Series Number:
820
(ii) Tranche Number:
1
3.
Specified Currency:
Turkish Lira (TRY), subject to the
provisions set out in the Annex hereto
4.
Aggregate Nominal Amount:
(i) Series:
TRY 250,000,000


(ii) Tranche:
TRY 250,000,000
5.
(i) Issue Price:
94.375 per cent. of the Aggregate
Nominal Amount
(ii) Net proceeds:
TRY 235,937,500
6.
Specified Denominations:
TRY 10,000 (the Calculation Amount)
7.
(i) Issue Date:
2 November 2018
(ii) Interest Commencement Date:
2 November 2018
8.
Maturity Date:
2 November 2022, subject to the
provisions set out in the Annex hereto
9.
Interest Basis:
20.00 per cent. Fixed Rate(further
particulars specified below)
10.
Redemption/Payment Basis:
See paragraphs 24, 25 and 34 below
11.
Change of Interest or Redemption/Payment Basis: Not Applicable
12.
Put/Call Options:
Not Applicable
13.
Status of the Notes:
Senior
14.
Listing and Trading:
The regulated market of the Luxembourg
Stock Exchange for the purposes of
Directive 2014/65/EU (as amended,
MiFID II)
15.
Method of distribution:
Non-syndicated
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
16.
Fixed Rate Note Provisions
Applicable
(i) Rate of Interest:
20.00 per cent. per annum payable
annually in arrear
(ii) Interest Payment Date(s):
2 November in each year up to, and
including, the Maturity Date, subject, in
the case of payment only, to the
Following Business Day Convention, but
without any adjustment to any Interest
Period.
(iii (iii) Fixed Coupon Amount:
TRY 2,000 per Calculation Amount
(iv) Broken Amount(s):
Not Applicable


(v) (v) Day Count Fraction:
Actual/Actual (ICMA)
(vi) Determination Date(s):
Not Applicable
(vii)Other terms relating to the method of
Not Applicable
calculating interest for Fixed Rate Notes:
17.
Floating Rate Note Provisions
Not Applicable
18.
Zero Coupon Note Provisions
Not Applicable
19.
Index-Linked Interest Note Provisions
Not Applicable
20.
Dual Currency Interest Note Provisions
Not Applicable
21.
Variable Coupon Amount Notes:
Not Applicable
PROVISIONS RELATING TO REDEMPTION
22.
Call Option
Not Applicable
23.
Put Option
Not Applicable
24.
Final Redemption Amount of each Note
TRY 10,000 per Calculation Amount,
subject to the provisions set out in the
Annex hereto
25.
Early Redemption Amount
As set out in the Conditions
Early Redemption Amount(s) of each Note
payable on event of default and/or the method of
calculating the same (if required or if different
from that set out in the Conditions):
26.
Variable Redemption Amount Notes
Not Applicable
GENERAL PROVISIONS APPLICABLE TO THE NOTES
27.
Form of Notes:
Bearer Notes:
Not Applicable
Registered Notes:
Applicable
Registrar and Transfer Agents
Registrar:
Citibank, N.A., Citigroup Centre, Canary
Wharf, London E14 5LB
Transfer Agent:


Banque Internationale à Luxembourg
société anonyme, 69 route d'Esch, L-
2953 Luxembourg
(i) DTC Application:
No
(ii) Australian Domestic Notes:
No
28.
Relevant Financial Centre(s) or other special Istanbul
provisions relating to Payment Dates:
For the purposes of Conditions 4 and 6
and the Annex hereto, "Business Day"
means a day (other than Saturday or
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, Istanbul and New York City
29.
Talons for future Coupons to be attached to Not Applicable
Definitive Bearer Notes (and dates on which such
Talons mature):
30.
Details relating to Partly Paid Notes: amount of Not Applicable
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 the Issuer to forfeit the Notes and
interest due on late payment:
31.
Details relating to Instalment Notes: amount of Not Applicable
each instalment, date on which each payment is to
be made:
32.
Redenomination,
renominalisation
and Not Applicable
reconventioning provisions:
33.
Consolidation provisions:
Not Applicable
34.
Other terms or special conditions:
The provisions set out in the Annex shall
apply to the terms and conditions in
accordance herewith
35.
Governing law:
English Law
DISTRIBUTION
36.
(i) If syndicated, names of Managers:
Not Applicable
(ii) Stabilising Manager (if any):
Not Applicable
37.
If non-syndicated, name of Dealer:
J.P. Morgan Securities plc


38.
Additional selling restrictions:
None
OPERATIONAL INFORMATION
39.
ISIN Code:
XS1899129438
40.
Common Code:
189912943
41.
Any clearing system(s) other than Euroclear and Not Applicable
Clearstream, Luxembourg and the relevant
identification number(s):
42.
Delivery:
Delivery against payment
43.
Changes to the Agent(s) (if any):
Not Applicable
44.
Applicable TEFRA Rules:
Not Applicable
45.
Additional United States Federal Income Tax Not Applicable
Consequences:
46.
Intended to be held in a manner that would allow No
Eurosystem eligibility:
LISTING APPLICATION
This Pricing Supplement comprises the final terms required for issue and admission to trading on the
Regulated Market of the Luxembourg Stock Exchange and admission to trading on the Official List of
the Luxembourg Stock Exchange of the Notes described herein pursuant to the Global Debt Issuance
Facility of the African Development Bank.
NO MATERIAL ADVERSE CHANGE
There has been no material adverse change in the financial position of the Issuer since 31 December
2017.
AUDITORS
The annual accounts of the Issuer for the financial years ended 31 December 2016 and 31 December
2017, respectively, have been audited by KPMG Audit and Deloitte & Associés, respectively.
RESPONSIBILITY
The Issuer accepts responsibility for the information contained in this Pricing Supplement.
Signed on behalf of African Development Bank:
By:
......................................
Duly authorised


ANNEX
All payments in respect of the Notes will be made in TRY, subject to the occurrence of a Settlement
Disruption Event and will in all cases be subject to any fiscal or other laws applicable thereto.
If the Calculation Agent (as defined below) following consultation with the Issuer determines (acting
in good faith and in a commercially reasonable manner) that a Settlement Disruption Event has
occurred or is subsisting during the Determination Period (as defined below), the Calculation Agent
shall notify the Agent of its determination as soon as practicable after making such determination (but
in no event later than 8.00am London time one (1) London Business Day after the last Day of the
Determination Period) whereupon the Agent shall as soon as practicable thereafter (but in no event
later than one (1) London Business Day after receipt of the aforementioned notice from the
Calculation Agent) notify the Noteholders thereof.
If a Settlement Disruption Event has occurred during the Determination Period but prior to the
Maturity Date or Early Redemption Date a Settlement Disruption Event no longer subsists and there is
no postponement of the Maturity Date or Early Redemption Date in accordance with the provisions
herein, the Calculation Agent shall notify the Issuer and the Agent thereof as soon as practicable on or
after the London Business Day on which the Settlement Disruption Event no longer subsists (but in no
event later than one (1) London Business Day thereafter) whereupon the Agent shall as soon as
practicable thereafter (but in no event later than one (1) London Business Day after receipt of the
aforementioned notice from the Calculation Agent) notify the Noteholders thereof.
If a Settlement Disruption Event has occurred and is subsisting on the London Business Day prior to
the Maturity Date or Early Redemption Date or any amount is to be paid on a postponed Maturity
Date or Early Redemption Date, regardless of whether a Settlement Disruption Event is subsisting at
such time, payment shall be made in United States Dollars ("USD") and the amount of such payment
shall be calculated by the Calculation Agent and promptly notified to the Agent and the Issuer (but in
no event later than two London Business Days prior to the Maturity Date or Early Redemption Date)
as an amount per Calculation Amount (the "Relevant TRY Amount") resulting from the application
of the following formula, with such amount to be rounded to the nearest whole cent (with 0.5 cent
being rounded upwards):
Relevant TRY Amount ÷ Exchange Rate
For the avoidance of doubt, no additional amounts shall be payable by the Issuer in respect of any
delay in payment beyond the originally scheduled Maturity Date or Early Redemption Date following
any postponement of such date as a result of any day during the Determination Period that would
otherwise have fallen on a Business Day not being a Business Day. In the event of any such
postponement of the originally scheduled Maturity Date or Early Redemption Date, the Calculation
Agent shall notify the Issuer and the Agent of such postponement as soon as practicable and in any
event not later than the second London Business Day prior to the originally scheduled Maturity Date
or Early Redemption Date whereupon the Agent shall as soon as practicable thereafter (but in no
event later than one (1) Business Day after receipt of the aforementioned notice from the Calculation
Agent) notify the Noteholders thereof.
For the purposes of these provisions:
"Calculation Agent" means JPMorgan Chase Bank, N.A. in accordance with the provisions of the
Agency Agreement entered into between the Issuer and Citibank, N.A., London as issuing and paying
agent and principal registrar and certain other financial institutions named therein dated 8 September
2009 and the Calculation Agent Appointment Letter between the Issuer and the Calculation Agent
dated 6 September 2016 (together, the "Calculation Agency Agreement") (as amended and/or


supplemented from time to time). All references to the Calculation Agent shall include any successor
or successors to JPMorgan Chase Bank, N.A. as Calculation Agent in respect of the Notes. The
determination by the Calculation Agent of any amount or of any state of affairs, circumstance, event
or other matter, or the formation of any opinion or the exercise of any discretion required or permitted
to be determined, formed or exercised by the Calculation Agent under the Notes and pursuant to the
Calculation Agency Agreement shall (in the absence of manifest error) be final and binding on the
Noteholders and shall be made in consultation with the Issuer and acting in good faith and in a
commercially reasonable manner in accordance with the Calculation Agency Agreement. In
performing its duties under the Notes, the Calculation Agent shall act in accordance with the
Calculation Agency Agreement;
"Determination Period" means in relation to the Maturity Date or any Early Redemption Date, the
period (i) commencing from (and including) the date which falls on the fifth Business Day and (ii)
ending on (and including) the date which falls on the third Business Day, immediately preceding, in
each case, the Maturity Date or such Early Redemption Date, which dates for the commencement and
ending of such period shall be subject to adjustment in accordance with the Following Business Day
Convention should such dates no longer fall on the fifth or the third such preceding Business Day,
respectively, as a result of any day during such period that would otherwise have fallen on a Business
Day not being a Business Day (and, upon any such adjustment, there shall be a corresponding
postponement of the Maturity Date or such Early Redemption Date);
"Early Redemption Date" means, in relation to any early redemption, the date on which the Early
Redemption Amount is payable;
"Exchange Rate" means the rate of exchange expressed as the amount of TRY payable for one USD
as determined by the Calculation Agent in consultation with the Issuer, acting in good faith and in a
commercially reasonable manner, as the rate that would be payable to purchase USD with the
Aggregate Nominal Amount on the Maturity Date or Early Redemption Date (including any
postponed such date), which may result in a USD equivalent amount of zero;
"London Business Day" means a day (other than Saturday or 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;
"Settlement Disruption Event" means, as determined by the Calculation Agent in consultation with
the Issuer and acting in good faith and in a commercially reasonable manner, (i) the imposition of
laws or regulations by the Central Bank of the Republic of Turkey (the "CBRT") or any other
legislative, governmental or regulatory authority of the Republic of Turkey which (a) require non-
residents of the Republic of Turkey to obtain permission from the CBRT or such other authority to
obtain TRY, or (b) otherwise restrict a non-resident's ability to obtain TRY or (c) otherwise regulate
the purchase or holding of TRY such that costs are imposed in obtaining TRY which would not be
imposed in the absence of such regulations, or (d) have the direct or indirect effect of hindering,
limiting or restricting the transfer of TRY from the Republic of Turkey to recipients resident in
another country; (ii) Euroclear and/or Clearstream, Luxembourg suspend or cease the acceptance of
TRY as a settlement currency or otherwise give notice of their intention to do so from any date on or
before the Maturity Date or any Early Redemption Date (including any postponed such date).


Document Outline