Obbligazione Asia Development Bank 1.875% ( US045167EB56 ) in USD

Emittente Asia Development Bank
Prezzo di mercato 100 USD  ▼ 
Paese  Filippine
Codice isin  US045167EB56 ( in USD )
Tasso d'interesse 1.875% per anno ( pagato 2 volte l'anno)
Scadenza 10/08/2022 - Obbligazione è scaduto



Prospetto opuscolo dell'obbligazione Asian Development Bank US045167EB56 in USD 1.875%, scaduta


Importo minimo 1 000 USD
Importo totale 750 000 000 USD
Cusip 045167EB5
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.

The Obbligazione issued by Asia Development Bank ( Philippines ) , in USD, with the ISIN code US045167EB56, pays a coupon of 1.875% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 10/08/2022







PRICING SUPPLEMENT




ASIAN DEVELOPMENT BANK
GLOBAL MEDIUM-TERM NOTE PROGRAM
Series No.: 935-00-1
U.S.$750,000,000
1.875 per cent. Global Notes due 10 August 2022
Issue price: 99.531 per cent.
Joint Lead Managers

BofA Merrill Lynch
Crédit Agricole CIB
J.P. Morgan

Co-Lead Managers

Citigroup
HSBC
Morgan Stanley
TD Securities







The date of this Pricing Supplement is 8 August 2017.


This pricing supplement (the "Pricing Supplement") is issued to give details of an
issue of U.S.$750,000,000 1.875 per cent. Global Notes due 10 August 2022 (the "Notes") 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 9 December 2016.
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:
935-00-1.
3.
(i)
Specified Currency
United States Dollars ("U.S.$").
(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:
U.S.$750,000,000.
5.
(i)
Issue Price:
99.531 per cent. of the Aggregate Nominal
Amount.
(ii)
Net proceeds:
U.S.$745,545,000.
6.
Specified Denominations (Condition
U.S.$1,000.
1(a)):
7.
(i)
Issue Date (Condition 5(d)):
10 August 2017.
(ii)
Interest Commencement Date
Not applicable.
(if different from the Issue
Date) (Condition 5(d)):
8.
Maturity Date or Redemption Month
10 August 2022, subject to paragraph 31
(Condition 6(a)):
below.
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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)
Not applicable.
and (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:
1.875 per cent. per annum, payable semi-
annually in arrear.
(ii)
Interest Payment Date(s):
10 February and 10 August of each year,
commencing on 10 February 2018 up to and
including the Maturity Date, subject to
paragraph 31 below.
(iii) Fixed Coupon Amount(s):
U.S.$9.375 per Specified Denomination,
payable on each Interest Payment Date.
(iv)
Broken Amount(s):
Not applicable.
(v)
Relevant Financial Center:
New York.
(vi)
Additional Business Center(s)
Not applicable.
(Condition 5(d)):
(vii) Day Count Fraction (Condition 30/360.
5(d)):
(viii) Determination Date(s):
Not applicable.
4





(ix)
Other terms relating to the
No Calculation Period shall be adjusted in the
method of calculating interest
event that the first day or last day of such
for Fixed Rate Notes:
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)):
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)):


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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:
Book-Entry Notes available on Issue Date.
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:

(i) Payment Dates:
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.
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Distribution
32. (i)
If syndicated, names of
Crédit Agricole Corporate and Investment
Managers:
Bank
J.P. Morgan Securities plc
Merrill Lynch International
Citigroup Global Markets Limited
HSBC Bank plc
Morgan Stanley & Co. International plc
The Toronto-Dominion Bank

(ii)
Stabilizing Manager (if any):
Not applicable.
(iii)
Commissions and Concessions: 0.125 per cent.
33. If non-syndicated, name of Dealer:
Not applicable.
34. Additional selling restrictions:
The following paragraph shall be deemed to be
set out under the heading "France" in the
section entitled "Plan of Distribution" in the
Prospectus:
"No prospectus (including any amendment,
supplement or replacement thereto or any other
offering material relating to the Notes) has
been prepared in connection with the offering
of the Notes which has been approved by the
French Autorité des marches financiers or by
the competent authority of another state that is
a contracting party to the Agreement on the
European Economic Area and notified to the
French Autorité des marchés financiers and to
the Issuer; no Notes have been offered or sold
nor will be offered or sold, directly or
indirectly, to the public in France; the
materials relating to the Notes have not been
distributed or caused to be distributed and will
not be distributed or caused to be distributed to
the public in France; any offer, sale and
distribution of the Notes has been and shall
only be made in France to providers of
investment services relating to portfolio
management for the account of third parties as
defined in, and in accordance with Articles
L.411-2-II-1 and D.321-1 of the French Code
monétaire et financier, and/or qualified
investors (investisseurs qualifiés) other than
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individuals investing for their own account, as
defined in Articles L. 411-2 and D. 411-1 to
D.411-4, of the French Code monétaire et
financier. The direct or indirect distribution to
the public in France of any Notes may be made
only as provided by French laws and
regulations."
Operational Information

35. (i)
ISIN:
US045167EB56.
(ii)
CUSIP:
045167 EB5.
(iii)
CINS:
Not applicable.
(iv)
Other:
Not applicable.
36. Common Code:
166056748.

37. Any clearing system(s) other than
Federal Reserve Book-Entry System.
Euroclear, Clearstream, Luxembourg
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:
New York.

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.
Use of Proceeds
The net proceeds of the issue of the Notes will be included in the ordinary capital
resources of ADB which will then be allocated to a special sub-portfolio therein and tracked
against the disbursements to Eligible Projects (as defined below). As long as the Notes are
outstanding, the balance of the sub-portfolio will be reduced, at the end of each quarter, by
amounts matching the disbursements made during the quarter with respect to the Eligible
Projects. Pending such disbursement, the sub-portfolio will be invested in accordance with
ADB's liquidity policy.
Eligible projects under ADB's Green Bond framework ("Eligible Projects") include
projects funded by ADB, in whole or in part, that (i) target a reduction of greenhouse gas
8





emissions into the atmosphere or removal of greenhouse gas emissions from the atmosphere
("Climate Change Mitigation Projects") and/or (ii) target the reduction of the vulnerability of
human or natural systems to the consequences of climate change and enhance resilience and
adaptive capacity ("Climate Change Adaptation Projects").
Examples of Climate Change Mitigation Projects would typically include, without
limitation, those that fall under the following sectors:
· Renewable energy ­ projects that use energy resources that can be naturally
replenished (solar, wind, geothermal and small hydro energy generation);
· Energy efficiency ­ projects that deliver more energy services with the same energy
input (excluding fossil fuel projects); and
· Sustainable transport ­ projects that provide accessible, safe, environmentally
friendly and affordable transportation.
Examples of Climate Change Adaptation Projects would typically include, without
limitation, those that fall under the following sectors:
· Energy ­ projects that help improve energy security (excluding fossil fuel projects);
· Water and other urban infrastructure and services ­ projects that improve water
security and livelihoods of vulnerable urban populations, such as, providing urban
flood protection; and
· Transport - projects that reduce the vulnerability of transport infrastructure.
The above examples of Eligible Projects are for illustrative purposes only and no
assurance can be provided that disbursements for projects with these specific characteristics will
be made by ADB during the term of the Notes.
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 2017.
Recent Developments
On 6 May 2017, ADB's Board of Governors approved the following with respect
to its 2016 reported net loss of U.S.$11.2 million after appropriation of guarantee fees to the
special reserve:
a.
U.S.$14.6 million, representing the adjustment to the loan loss reserve as
of 31 December 2016, be added from the net income to the loan loss
reserve;
9





b.
U.S.$513.9 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 2016, be added
from the cumulative revaluation adjustments account;
c.
U.S.$123.7 million be allocated to the ordinary reserve;
d.
U.S.$259.4 million be allocated to the Asian Development Fund;
e.
U.S.$60.0 million be allocated to the Technical Assistance Special Fund;
f.
U.S.$20.0 million be allocated to the Asia Pacific Disaster Response Fund;
g.
U.S.$15.0 million be allocated to the Climate Change Fund; and
h.
U.S.$10.0 million be allocated to the Regional Cooperation and
Integration 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.
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Document Outline