Obligation Africa Development Bank 5.6% ( XS1675763467 ) en USD

Africa Development Bank

100 % ⇌

Cote d'Ivoire

XS1675763467 ( en USD )

5.6% par an ( paiement semestriel )

08/09/2020 - Obligation échue

Prospectus brochure de l'obligation AFRICAN DEVELOPMENT BANK XS1675763467 en USD 5.6%, échue

200 000 USD

10 000 000 USD

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 USD, avec le code ISIN XS1675763467, paye un coupon de 5.6% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 08/09/2020

Pricing Supplement dated 6 September 2017

AFRICAN DEVELOPMENT BANK
Global Debt Issuance Facility
for issues of Notes with maturities of one day or longer
Issue of USD 10,000,000 Fixed Rate Notes due 8 September 2020
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:
690

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

(i) Series:
USD 10,000,000

(ii) Tranche:
USD 10,000,000
5.
(i) Issue Price:
100 per cent. of the Aggregate Nominal
Amount

(ii) Net proceeds:
USD 10,000,000
6.
Specified Denominations:
USD 200,000 and integral multiples of
USD 10,000 (the Calculation Amount)
in excess thereof up to and including
USD 390,000. No Notes in definitive
form will be issued in excess of USD
390,000.
7.
(i) Issue Date:
8 September 2017
(ii) Interest Commencement Date:
8 September 2017

1

(iii) Trade Date:
25 August 2017
8.
Maturity Date:
8 September 2020 (the Maturity Date),
subject as provided in paragraph 34
9.
Interest Basis:
5.60 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:
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
Applicable

(i) Rate of Interest:
For the purposes of Condition 4, the Rate
of Interest payable in respect of each
Note shall be an amount per Calculation
Amount calculated in accordance with
the following formula, as determined by
the Calculation Agent in accordance with
(and subject to) paragraph 34 below:
(Calculation Amount x 5.60 per cent.) x
(Initial Settlement Rate ÷ Settlement
Rate)

(ii) Interest Payment Date(s):
8 September in each year, from, and
including, 8 September 2018 up to, and
including, the Maturity Date (each a
Scheduled Interest Payment Date),
subject in each case as provided in
paragraph 24 below and subject, in the
case of payment only, to the Following
Business Day Convention, but without
any adjustment to any Interest Period.

(iii) Fixed Coupon Amount:
See "Rate of Interest" in paragraph 16(i)
above

2

(iv) Broken Amount(s):
Not Applicable

(v) Day Count Fraction:
Actual/360

(vi) Determination Date(s):
Not Applicable

(vii) Other terms relating to the method of See paragraph 34
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
An amount per Calculation Amount
calculated in accordance with the
following formula, as determined by the
Calculation Agent in accordance with
(and subject to) paragraph 34 below:
Calculation Amount x (Initial Settlement
Rate ÷ Settlement Rate)
25.
Early Redemption Amount
An amount per Calculation Amount
calculated in accordance with the
Early Redemption Amount(s) of each Note following formula, as determined by the
payable on event of default and/or the method of Calculation Agent in accordance with
calculating the same (if required or if different (and subject to) paragraph 34 below and
from that set out in the Conditions):
the accrued interest thereon:
Calculation Amount x (Initial Settlement
Rate ÷ Settlement Rate)
26.
Variable Redemption Amount Notes
Not Applicable
GENERAL PROVISIONS APPLICABLE TO THE NOTES
27.
Form of Notes:

Bearer Notes:
Applicable
Temporary
Bearer
Global
Note
exchangeable for a Permanent Bearer

3

Global Note which is exchangeable for
Definitive Bearer Notes in the limited
circumstances specified in the Permanent
Global Note.

Registered Notes:
Not Applicable
(i) DTC Application:

No
(ii) Australian Domestic Notes:

No
28.
Relevant Financial Centre(s) or other special New York City
provisions relating to Payment Dates:
For the purposes of Conditions 4 and 6,
"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 in London, New York
City and Gaborone
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 Applicable, in accordance with the
reconventioning provisions:
relevant legislation
33.
Consolidation provisions:
Not Applicable
34.
Other terms or special conditions:

(i) Payment of Note Amounts:
Each Fixed Coupon Amount, principal
amount, redemption amount, accrued
interest amount or other amount payable
in respect of the Notes (each a Note
Amount) shall, subject as provided
below, be determined by the Calculation
Agent using the Settlement Rate on the
day falling two Calculation Business
Days before the Scheduled Interest

4

Payment Date or Maturity Date for such
Note Amount or other date on which
such amount first becomes due and
payable (Other Scheduled Payment
Date)
(each
a
Settlement
Rate
Determination Date).
If the Calculation Agent determines at
any
time
on
a
Settlement
Rate
Determination Date that a Disruption
Event has occurred or is continuing it
shall delay the determination of the
Settlement
Rate
until
the
next
Calculation Business Day on which no
Disruption Event exists, but if there
continues to be a Disruption Event on
each of the 14 calendar days immediately
following
such
Settlement
Rate
Determination Date, the Calculation
Agent shall determine the Settlement
Rate on the Calculation Business Day
immediately following the end of such
14 calendar day period acting in good
faith, in a commercially reasonable
manner and in consultation with the
Issuer
and
having
taken
into
consideration relevant market practice. In
any such case the relevant Note Amount
shall be paid as soon as practicable after
the Settlement Rate has been determined
by the Calculation Agent but in any event
no later than two Calculation Business
Days after such rate has been determined
and the relevant Interest Payment Date or
Other Scheduled Payment Date or the
Maturity Date, as the case may be, shall
be postponed accordingly. No interest or
other payment shall be made in respect of
any such delay.
The Calculation Agent will promptly
inform the Issuer and the Noteholders of
the occurrence of any Disruption Event
and the consequences thereof for
payment of any Note Amount. The
Calculation Agent will at all times act in
good faith and in a commercially
reasonable manner when performing its
duties and making any calculations and
determinations in respect of the Notes.
For the purposes of this Pricing
Supplement:

5

BWP Amount means, in relation to a
Note Amount, an amount in BWP equal
to the relevant Note Amount multiplied
by the Initial Settlement Rate.
Calculation
Agent
means
ICBC
Standard
Bank
Plc,
including
its
successors, unless ICBC Standard Bank
Plc fails to perform any of its duties or
obligations as Calculation Agent, in
which case the Issuer or another entity
appointed by it will act as Calculation
Agent.

Calculation Business Day means a day
on which commercial banks effect (or,
but for the occurrence of any Disruption
Event,
would
have
effected)
the
conversion of Botswana Pula (BWP) into
USD or the delivery of USD or BWP, in
accordance with the market practice of
the
foreign
exchange
market
in
Gaborone.

Disruption Event means either or both
of an Inconvertibility Event or a Market
Disruption Event.

Domestic
Securities
means
debt
securities issued by the government of
the Republic of Botswana and trading or
settling in a clearing system within the
Republic of Botswana.

Inconvertibility Event means, any
determination by the Calculation Agent,
acting in good faith, in a commercially
reasonable manner and in consultation
with the Issuer, that one or more of the
following events has occurred:

(i) the Settlement Rate cannot be
determined in the manner set out in this
paragraph 34(i);

(ii) the adoption, giving, making or
implementation of any law, regulation,
notice, directive, order or decree (in each
case, whether or not having the force of
law) announced and/or issued after the
Issue Date, by any government or
regulatory
authority
or
competent
authority, or the announcement that such

6

adoption is to take place, which has the
effect of imposing any new or additional
limitation, prohibition or restriction on or
otherwise prevents the conversion into
USD or repatriation in USD of (a) non-
resident owned BWP or (b) BWP
proceeds from redemption or sale of
Domestic Securities or (c) BWP interest
paid on Domestic Securities; or

(iii) the adoption, giving, making or
implementation of any law, regulation,
notice, directive, order or decree (in each
case, whether or not having the force of
law) announced and, or issued, after the
Issue Date, by any governmental or
regulatory
authority
or
competent
authority, or the announcement that such
adoption is to take place, which has the
effect of imposing any new or additional
limitation, prohibition or restriction on or
otherwise prevents the delivery of BWP
to the Calculation Agent's account in the
Republic of Botswana; or

(iv) any action, event or circumstance
whatsoever which:
a) has the direct or indirect effect of
hindering, limiting or restricting
the convertibility of BWP into
USD through customary legal
channels, or the transfer of BWP
from the Republic of Botswana
to any other country (including,
without
limitation,
the
imposition
of
any
delay,
increased costs or discriminatory
rates of exchange or current or
future restrictions on conversion
or repatriation of BWP into
USD) and/or
b) results in the unavailability of
BWP in the interbank foreign
exchange market.

Initial Settlement Rate means BWP
10.1800 per USD 1.00.

Market Disruption Event means, in the
determination of the Calculation Agent,
acting in good faith, in a commercially
reasonable manner and in consultation
with the Issuer, any event, other than an

7

Inconvertibility Event, as a result of
which the Calculation Agent is unable to
determine any Note Amount, which
event shall include, without limitation:

(i) a natural or man-made disaster, armed
conflict, act of terrorism, riot, labour
disruption or any other circumstance
beyond its control; or

(ii)
the
enactment,
promulgation,
execution, ratification or adoption of, or
any change in or amendment to, any rule,
law, regulation or statute (or in the
applicability or official interpretation of
any rule, law, regulation or statute) or the
issuance of any order or decree.

Reference Currency Dealers means any
three leading dealers, banks or banking
corporations, which deal in BWP,
selected by the Calculation Agent, acting
in good faith and in a commercially
reasonable manner and in consultation
with the Issuer (and may include the
Calculation Agent or an affiliate of the
Calculation Agent).

The Settlement Rate is to be determined

by
the
Calculation
Agent
as
at
approximately 11.00 a.m. (London time)
(or as soon as practicable thereafter) by
requesting a firm exchange rate quotation
(expressed as the amount of BWP for one
USD) from the Reference Currency
Dealers for the sale of an amount of
BWP of not less than the relevant BWP
Amount and purchase of USD with such
BWP Amount for a non-resident
counterparty
(where
USD
payable
outside of the Republic of Botswana), for
value on the Scheduled Interest Payment
Date, Maturity Date or Other Scheduled
Payment Date (as applicable). The
Settlement Rate shall be determined by
the Calculation Agent in accordance with
the following provisions:

(i) it shall be the arithmetic mean
(rounded to the nearest four decimal
points, with 0.00005 per cent. being
rounded up) of the rates quoted by the
Reference Currency Dealers, provided at
least two Reference Currency Dealers

8

provide such quotations; or

(ii) if less than two Reference Currency
Dealers provide such quotations, then the
Settlement
Rate
for
the
relevant
Settlement Rate Determination Date shall
be determined by the Calculation Agent
acting
in
good
faith
and in
a
commercially reasonable manner and in
consultation with the Issuer (taking into
account all information which it deems
relevant for the purpose, which may
include any such quotation it has been
provided).

(ii)
Representations,
Warranties
and An investor purchasing the Notes will be
Acknowledgments by the investor
deemed to represent and warrant that:

(a) the investor acknowledges and
accepts all risks including, but not

limited to, foreign exchange, credit,
sovereign,
convertibility
and/or

country risks, and any other risks
associated
with
purchasing,

investing in and/or holding the
Notes,

(b) the
investor
has
sufficient

knowledge,
experience
and
professional advice to make and has

made and will continue to make its
own legal, tax, accounting and other

business evaluations of the merits
and risks of investment in the Notes

and is not relying on the views or

the advice of, or any information
with respect to the Notes provided

by the Issuer in that regard;

(c) the investor has full legal power and
authority to purchase and invest in

the Notes;

(d) the purchase of the Notes and
receipt of any payment of principal

or interest thereunder does not
violate or conflict with any law

applicable to the investor, any
provision
of
the
investor's

constituting documents, any order
of any court or other governmental

agency applicable to the investor, or
any contractual restriction binding

on the investor or affecting its

9

assets;

(e) the investor is purchasing the Notes

for the investor's own account and
no other person shall have an

interest in the Notes; and
(f) the investor is solely responsible for
making
its
own
independent
appraisal of the Issuer and of risks
associated with investing in the
Notes.
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:
ICBC Standard Bank Plc
38.
Additional selling restrictions:
None
OPERATIONAL INFORMATION
39.
ISIN Code:
XS1675763467
40.
Common Code:
167576346
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:
D Rules
45.
Additional United States Federal Income Tax Not Applicable
Consequences:
46.
Intended to be held in a manner that would allow No
Eurosystem eligibility:

10