Bond Africa Development Bank 0% ( XS1518737157 ) in USD

Africa Development Bank

100 % ⇌

Côte d'Ivoire

XS1518737157 ( in USD )

15/11/2046

Prospectus brochure of the bond African Development Bank XS1518737157 en USD 0%, maturity 15/11/2046

2 000 000 USD

50 000 000 USD

The African Development Bank (AfDB) is a multilateral development finance institution that provides loans and grants to African countries for projects aimed at economic and social development.

The Bond issued by Africa Development Bank ( Côte d'Ivoire ) , in USD, with the ISIN code XS1518737157, pays a coupon of 0% per year.
The coupons are paid 2 times per year and the Bond maturity is 15/11/2046

Pricing Supplement dated 14 November 2016

AFRICAN DEVELOPMENT BANK
Global Debt Issuance Facility
for issues of Notes with maturities of one day or longer
Issue of USD 50,000,000 Callable Zero Coupon Notes due 16 November 2046
This document constitutes the Pricing Supplement relating to the issue of Notes described herein.
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. 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:
592

(ii) Tranche Number:
1
3.
Specified Currency:
United States dollar ("USD")
4.
Aggregate Nominal Amount:

(i) Series:
USD 50,000,000

(ii) Tranche:
USD 50,000,000
5.
(i) Issue Price:
100.00 per cent. of the Aggregate
Nominal Amount

(ii) Net proceeds:
USD 50,000,000
6.
Specified Denominations:
USD 2,000,000 (the Calculation
Amount)
7.
(i) Issue Date:
16 November 2016

(ii) Interest Commencement Date:
Not Applicable
8.
Maturity Date:
16 November
2046,
subject to
adjustment, in the case of payment only,
in accordance with the Modified
Following Business Day Convention.
9.
Interest Basis:
Zero Coupon
(further particulars specified below)
10.
Redemption/Payment Basis:
Redemption at 258.77102 per cent. of the
Aggregate Nominal Amount

11.
Change of Interest or Redemption/Payment Basis:
Not Applicable
12.
Put/Call Options:
Issuer Call (further particulars specified
below)
13.
Status of the Notes:
Senior
14.
Listing:
The regulated market of the Luxembourg
Stock Exchange for the purposes of
Directive 2004/39/EC on Markets in
Financial Instruments
15.
Method of distribution:
Non-syndicated
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

16.
Fixed Rate Note Provisions
Not Applicable

17.
Floating Rate Note Provisions
Not Applicable

18.
Zero Coupon Note Provisions
Applicable

(i) Amortisation Yield:
3.22 per cent. per annum, compounded

(ii) Day Count Fraction:
30/360, unadjusted

(iii) Any other formula/basis of determining Not Applicable
amount payable:

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
Applicable

(i) Optional Redemption Date(s):
16 November 2026 and 16 November
2036

(ii) Optional Redemption Amount of each Note See Annex
and method, if any, of calculation of such amount:

(iii) If redeemable in part
Not Applicable
(a) Minimum nominal amount to be redeemed:
(b) Maximum nominal amount to be redeemed:

(iv) Option Exercise Date:
At least ten (10) London and New York
Business Days prior to the Optional
Redemption Date

(v) Description of any other option of the Bank:
Not Applicable

(vi) Notice Period (if other than as set out in the No fewer than ten (10) London and New
Conditions):
York Business Days prior to the Optional
Redemption Date

23.
Put Option
Not Applicable

24.
Final Redemption Amount of each Note
USD 5,175,420.40 per Calculation
Amount
25.
Early Redemption Amount

Early Redemption Amount(s) of each Note As set out in the Conditions
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 Agent:
Registrar:
Citibank, N.A., Citigroup Centre, 25
Canada Square, Canary Wharf, London
El4 5LB
Transfer Agent:
Banque Internationale a Luxembourg
societe 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 London and New York
provisions relating to Payment Dates:
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:
Not Applicable
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:
XS1518737157
40.
Common Code:
151873715
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
2015.
AUDITORS
The annual accounts of the Issuer for the financial years ended 31 December 2014 and 31 December
2015, respectively, have been audited by KPMG Audit.
RESPONSIBILITY
The Issuer accepts responsibility for the information contained in this Pricing Supplement.

Signed on behalf of African Development Bank:

By:
......................................
Duly authorised

ANNEX

Optional Redemption Date Optional Redemption
Optional Redemption
Amount per Calculation
Amount per Calculation
Amount (in USD)
Amount (expressed as a
percentage)
16 November 2026
2,745,797.80
137.28989
16 November 2036
3,769,702.60
188.48513