Obligation Telecom Italia Spa 5.303% ( US87927YAA01 ) en USD

Société émettrice Telecom Italia Spa
Prix sur le marché 100 %  ▲ 
Pays  Italie
Code ISIN  US87927YAA01 ( en USD )
Coupon 5.303% par an ( paiement semestriel )
Echéance 29/05/2024 - Obligation échue



Prospectus brochure de l'obligation Telecom Italia US87927YAA01 en USD 5.303%, échue


Montant Minimal 200 000 USD
Montant de l'émission 1 500 000 000 USD
Cusip 87927YAA0
Notation Standard & Poor's ( S&P ) B+ ( Très spéculatif )
Notation Moody's B1 ( Très spéculatif )
Description détaillée Telecom Italia est une société de télécommunications italienne fournissant des services fixes, mobiles et à large bande, ainsi que des services numériques et de cloud computing.

L'Obligation émise par Telecom Italia Spa ( Italie ) , en USD, avec le code ISIN US87927YAA01, paye un coupon de 5.303% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 29/05/2024

L'Obligation émise par Telecom Italia Spa ( Italie ) , en USD, avec le code ISIN US87927YAA01, a été notée B1 ( Très spéculatif ) par l'agence de notation Moody's.

L'Obligation émise par Telecom Italia Spa ( Italie ) , en USD, avec le code ISIN US87927YAA01, a été notée B+ ( Très spéculatif ) par l'agence de notation Standard & Poor's ( S&P ).







TELECOM ITALIA S.P.A.
Registered office: Piazza degli Affari, 2
I-20123 Milano, Italy
Companies Register of Milan No: 00488410010
Pricing Term Sheet
U.S.$1,500,000,000 5.303% Senior Notes due 2024 (the "Securities")
May 22, 2014
This pricing term sheet is qualified in its entirety by reference to the Preliminary Offering Memorandum
dated May 22, 2014 (the "Offering Memorandum"). The information in this pricing term sheet
supplements the Offering Memorandum and updates and supersedes the information in the Offering
Memorandum to the extent it is inconsistent with the information in the Offering Memorandum. Terms
used and not defined herein have the meanings assigned in the Offering Memorandum.
Issuer:
Telecom Italia S.p.A.
(by Citibank, N.A., London Branch, as Receipt Issuer, for
Telecom Italia S.p.A.'s Rule 144A Global Receipts)
Expected Ratings*:
Ba1 (Moody's) / BB+ (S&P) / BBB- (Fitch)
Principal Amount:
U.S.$1,500,000,000
Security Type:
Senior Notes / Represented by Receipts to be deposited with
The Depository Trust Company
Legal Format:
Rule 144A
Pricing Date:
May 22, 2014
Settlement Date:
May 30, 2014 (T+5)
Maturity Date:
May 30, 2024
Interest Payment Dates:
May 30 and November 30, commencing on November 30,
2014
Regular Record Dates:
The fourth Business Day prior to the relevant Interest Payment
Date
Day Count Convention:
30/360
Business Days:
A day on which commercial banks are open for general
business in London, TARGET and New York City
Benchmark Treasury:
2.500% due May 15, 2024
Spread to Benchmark Treasury:
+ 275 basis points
Benchmark Treasury Price and Yield:
99-17; 2.553%
Yield:
5.303%
Coupon:
5.303%
Issue Price:
100.000% of principal amount
Make-whole Call:
The Securities will be redeemable in whole or in part at the
Issuer's option at any time at a redemption price equal to the
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greater of (1) 100% of the principal amount of the applicable
Securities or (2) a discount rate of the Adjusted Treasury Rate
plus 45 basis points
Denominations:
U.S.$200,000 and integral multiples of U.S.$1,000
Listing:
Irish Stock Exchange
Governing Law:
State of New York
CUSIPs:
X Receipts: 87927YAA0
N Receipts: 87927YAB8
ISINs:
X Receipts: US87927YAA01
N Receipts: US87927YAB83
X Securities: IT0005024788
N Securities: IT0005024598
Settlement:
The Depository Trust Company (X Receipts and N Receipts)
and Monte Titoli S.p.A., including Euroclear Bank. S.A./N.V.
and Clearstream Banking, Luxembourg (X Securities)
Receipt Issuer:
Citibank, N.A., London Branch
Joint Book-Running Managers:
Citigroup Global Markets Inc.
Goldman, Sachs & Co.
J.P. Morgan Securities LLC
Morgan Stanley & Co. LLC
BBVA Securities Inc.
RBS Securities Inc.
UniCredit Bank AG
*Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to
revision or withdrawal at any time.
Neither the Securities nor the Receipts have been registered under the Securities Act of 1933, as amended,
or the securities laws of any other jurisdiction. Neither the Securities nor the Receipts may be offered or
sold in the United States or to U.S. persons (as defined in Regulation S) except in transactions exempt
from, or not subject to, the registration requirements of the Securities Act. Accordingly, the Securities and
the Receipts are being offered only to "qualified institutional buyers" as defined in Rule 144A under the
Securities Act.
This material is confidential and is for your information only and is not intended to be used by
anyone other than you. This information does not purport to be a complete description of these
Securities, the Receipts or the offering. Please refer to the Offering Memorandum for a complete
description.
This communication is being distributed in the United States solely to Qualified Institutional
Buyers, as defined in Rule 144A under the Securities Act of 1933, as amended.
This communication does not constitute an offer to sell or the solicitation of an offer to buy any
securities in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation
in such jurisdiction.
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Any disclaimer or other notice that may appear below is not applicable to this communication and should
be disregarded. Such disclaimer or notice was automatically generated as a result of this communication
being sent by Bloomberg or another email system.
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