Obbligazione Québec Province 0% ( US748149AL50 ) in USD

Emittente Québec Province
Prezzo di mercato 100 USD  ⇌ 
Paese  Canada
Codice isin  US748149AL50 ( in USD )
Tasso d'interesse 0%
Scadenza 21/07/2019 - Obbligazione è scaduto



Prospetto opuscolo dell'obbligazione Province Of Quebec US748149AL50 in USD 0%, scaduta


Importo minimo 5 000 USD
Importo totale 1 000 000 000 USD
Cusip 748149AL5
Descrizione dettagliata Il Québec è una provincia del Canada, situata nella parte orientale del paese, nota per la sua cultura francofona e la sua ricca storia.

The Obbligazione issued by Québec Province ( Canada ) , in USD, with the ISIN code US748149AL50, pays a coupon of 0% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 21/07/2019







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424B3 1 d289812d424b3.htm 424B3
Filed pursuant to Rule 424b3
Registration Statement No. 333-200812
PRICING SUPPLEMENT NO. 8
Dated January 12, 2017 to
PROSPECTUS SUPPLEMENT
Dated January 30, 2015 and
PROSPECTUS
Dated January 29, 2015
QUÉBEC
MEDIUM-TERM NOTES, SERIES A, FLOATING RATE NOTES DUE 2019

SUBJECT
FINAL PRICING DETAILS
Issuer:
Québec
Form:
SEC Registered Offering
Title of Securities:
Medium-Term Notes, Series A, Floating Rate Notes Due 2019 ("Series
A Notes")
Format:
SEC Registered-Registration Statement Number 333-200812
Ranking:
Direct, unconditional debt
Size:
USD$100,000,000 (new total outstanding issue size USD$1,000,000,000)
Trade Date:
January 12, 2017
Settlement Date:
January 23, 2017 (T+6)
Maturity Date:
July 21, 2019
Interest Payment Dates:
January 21, April 21, July 21 and October 21 of each year, subject to
adjustment using Modified Following Business Day convention.
First Interest Payment Date:
April 21, 2017, subject to adjustment using the Modified Following
Business Day convention. Interest will accrue from January 23, 2017.
Spread to 3 Month USD LIBOR:
+ 23bps
Price:
100.127%, plus accrued interest, if any, from January 23, 2017
Net Proceeds to Issuer
USD$100,077,000
Day Count:
Actual/360
Denominations:
US$5,000 and integral multiples of $1,000 for higher amounts
Sole Lead & Bookrunner:
BMO Capital Markets Corp.
Cusip/ISIN:
748149AL5 / US748149AL50
Redemption Price at Maturity:
100% of the principal amount
Listing and Admission to Trading:
Application will be made for the Series A Notes to be admitted to
trading on the Euro MTF Market of the Luxembourg Stock Exchange on
or as soon as possible after the closing of the issue. We cannot guarantee
that this application will be approved, and settlement of the Series A
Notes is not conditioned on obtaining the listing.
Delivery:
Delivery of the Series A Notes, in book-entry form, will be made
through The Depository Trust Company on or about January 23, 2017.
Governing Law:
Québec and Canada
Prospectus and Prospectus Supplement:
Prospectus dated January 29, 2015, Prospectus Supplement dated
January 30, 2015 and Pricing
Supplement No.7 dated July 14, 2016
Stabilization:
Reg M/FCA/ICMA
Fiscal Agent:
Citibank, N.A.
Other Terms:
Québec has agreed, as a term of the Series A Notes, that each year it will
deposit into its sinking fund constituted by Ministerial Order no. FIN-11
dated June 12, 2012 (the "Sinking Fund") an amount equal to at least 1%
of the outstanding principal amount of the Notes. The funds to be
deposited in the Sinking Fund will be drawn from the Consolidated
Revenue Fund of Québec. The Minister may invest money from the
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Sinking Fund and may dispose of or terminate such investments
according to their terms. The funds in the Sinking Fund will be used for
repayment at maturity.

The Series A Notes may be repaid from the proceeds deposited in the
Sinking Fund. However, Québec is under no obligation to apply proceeds
of the Sinking Fund to repay any particular series, including the Series A
Notes, and there is no limitation on the amount of debt that may be
designated in this manner in respect of the Sinking Fund. The Series A
Notes will not be redeemable for sinking fund purposes.
European Economic Area Legends
If and to the extent that this announcement is communicated in, or the
offer of the Notes to which it relates is made in, any European Economic
Area Member State that has implemented Directive 2003/71/EC (and
amendments thereto, including Directive 2010/73/EU) (the "Prospectus
Directive") this announcement and the offer are only addressed to and
directed at persons in that Relevant Member State who are qualified
investors within the meaning of the Prospectus Directive (or who are
persons to whom the offer may lawfully be addressed) and must not be
acted upon by other persons in that Relevant Member State.

This announcement, the prospectus supplement and the prospectus have
been prepared on the basis that any offer of Notes in any member state of
the European Economic Area which has implemented the Prospectus
Directive (a "Relevant Member State") will be made pursuant to an
exemption under the Prospectus Directive, as implemented in that
Relevant Member State, from the requirement to publish a prospectus for
offers of the Notes. Accordingly, any person making or intending to
make any offer in that Relevant Member State of the Notes that are the
subject of the offering contemplated in the prospectus dated January 29,
2015, the prospectus supplement dated January 30, 2015 and the pricing
supplement for the Notes must only do so in circumstances in which no
obligation arises for Québec or any of the underwriters to publish a
prospectus pursuant to Article 3 of the Prospectus Directive or
supplement a prospectus pursuant to Article 16 of the Prospectus
Directive, in each case, in relation to such
offer. Neither Québec nor the underwriters have authorized, nor do they
authorize, the making of any offer of the Notes in circumstances in which
an obligation arises for Québec or the underwriters to publish a
prospectus supplement or prospectus for such offer. None of this
announcement, the pricing supplement, the prospectus supplement nor
the prospectus have been approved as a prospectus by a competent
authority in any Relevant Member State and accordingly none is a
prospectus for the purposes of the Prospectus Directive. This
announcement does not constitute or form part of any offer or invitation
to sell the Notes and is not soliciting any offer to buy the Notes in any
jurisdiction where such offer or sale is not permitted.
United Kingdom Legend
This announcement is only for distribution to and is only directed at
(i) persons who are outside the United Kingdom or (ii) investment
professionals falling within Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or
(iii) high net worth entities, and other persons to whom it may lawfully
be communicated, falling within Article 49(2)(a) to (d) of the Order or
(iv) persons to whom an invitation or inducement to engage in
investment activity (within the meaning of section 21 of the Financial
Services and Markets Act 2000, as amended) in connection with the
issue and sale of any Notes may otherwise lawfully be communicated or
caused to be communicated (all such persons together being referred to
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as "Relevant Persons"). The Notes are only available to, and any
invitation, offer or agreement to subscribe, purchase or otherwise acquire
such Notes will be engaged in only with, Relevant Persons. Any person
who is not a Relevant Person should not act or rely on this announcement
or any of its contents.
CAPITALIZED TERMS USED HEREIN WHICH ARE DEFINED IN THE PROSPECTUS SUPPLEMENT SHALL HAVE THE
MEANINGS ASCRIBED THERETO IN THE PROSPECTUS SUPPLEMENT.
RECENT DEVELOPMENTS
The information set forth below does not purport to be complete and supplements, and is qualified in its entirety by, the more detailed
information contained in Québec's Annual Report on Form 18-K for the fiscal year ended March 31, 2016, as amended, and the other documents
incorporated by reference in the basic prospectus. See "Where You Can Find More Information" in this pricing supplement no. 8.
Recent Economic Developments in 2016
The following table shows the changes in the main economic indicators for Canada and Québec through the latest period reported over the
comparable period in the preceding year:

Percentage Changes
Through Latest Period
Reported Over Comparable


Latest Period
Period in Preceding Year(1)


Reported

Canada

Québec

GDP:



Real GDP (chained 2007 dollars)

September

1.0(2)


1.8

Merchandise exports (2007 prices)


October


0.6(3)


-2.6

Retail trade


October


3.8


4.2

Housing starts

December

1.2


2.7

Value of manufacturers' shipments


October


0.4


-1.7

Employment

December

0.7


0.9

Consumer Price Index(4)

November

1.2


0.6



Latest Month
Percentage of Labor Force



Reported

Canada

Québec

Unemployment rate

December

7.0

7.1
(1)
Seasonally adjusted average of months available except for Consumer Price Index.
(2)
October.
(3)
November.
(4)
Year over year change, not seasonally adjusted.
Sources: Statistics Canada, Canada Mortgage and Housing Corporation and the Institut de la statistique du Québec.
Economic Assumptions
The projections in the Québec Economic Plan ­ October 2016 Update reflect the following assumptions regarding the economy of Québec
for 2016.
Economic Assumptions included in the Québec Economic Plan ­ October 2016 Update
(in percentage)


Percentage Change over 2015
GDP

At current market prices


2.6
In chained 2007 dollars


1.4
Household income


3.0
Business non-residential capital expenditures (2007 prices)


-1.9
International exports (2007 prices)


-0.5
Household Consumption (2007 prices)


1.9
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Labor force


0.1
Employment


0.9(1)


Average Rate
Unemployment rate


7.1(1)
Note: Economic assumptions, such as those included in the table above in this report and in all amendments to this report, are developed by
Québec and are a necessary part of the budget process. Actual results may differ materially from these assumptions.

(1)
Observed data.
Source : Ministère des Finances du Québec.
Where You Can Find More Information
We file annual reports, amendments to annual reports and other information with the U.S. Securities and Exchange Commission ("SEC"). These
reports include financial information about us and may be accompanied with exhibits.
You may read and copy any document we file with the SEC at the SEC's public reference room in Washington, D.C. Please call the SEC at 1-
800-SEC-0330 for further information on the public reference room. The registration statement and the exhibits and schedules to the registration
statement are also available through the SEC's website at http://www.sec.gov.
You may also obtain copies of these documents at prescribed rates from the Public Reference Section of the SEC at its Washington address or,
without charge, from us at the address listed below.
The SEC allows us to "incorporate by reference" the information we file with them, which means that we can disclose important information to
you by referring to those documents. We incorporate by reference the documents listed below:

·
our Annual Report on Form 18-K for the year ended March 31, 2016, filed on May 26, 2016;

·
our Report on Form 18-K/A filed on March 21, 2016, which includes excerpts from our 2016-2017 Budget;

·
our Report on Form 18-K/A filed on July 6, 2016, August 22, 2016, September 6, 2016, October 11, 2016, October 31,
2016, November 7, 2016, December 5, 2016; and

·
the pricing supplement No. 7 dated July 14, 2016, filed on July 15, 2016.
We also incorporate by reference all our future annual reports and amendments to annual reports, and any other information we file with the SEC
pursuant to Sections 13(a) and 13(c) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), until we sell all of the Securities.
Each time we file a document with the SEC that is incorporated by reference, the information in that document automatically updates the
information contained in previously filed documents. All of these documents incorporated by reference are filed with the SEC under File No. 2-
86339.
You may request a free copy of the annual reports, amendments to annual reports and other information mentioned above by writing to the
following address:
Québec
Ministère des Finances
Documentation financière et conformité
Bureau 2.33
12 rue Saint-Louis Québec, Québec
Canada G1R 5L3;
Tel.: (418) 643-8141
Fax: (418) 528-0984
We are responsible for the information incorporated by reference or contained in the prospectus, the prospectus supplement, this preliminary
pricing supplement and any related free writing prospectus we prepare or authorize. We have not authorized anyone to provide you with different
or additional information, and we take no responsibility for any other information that others may give you. We are not making an offer of the
Series A Notes in any state where the offer is not permitted by the law. You should not assume that the information in the prospectus, the
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prospectus supplement or this preliminary pricing supplement is accurate as of any date other than the date on the front of those documents.
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Document Outline