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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 9/24/19 Korea Development Bank FWP 1:31K Korea Development Bank Donnelley … Solutions/FA |
Document/Exhibit Description Pages Size 1: FWP Free-Writing Prospectus HTML 21K
| Free Writing Prospectus |
Filed Pursuant to Rule 433
Registration Statement No. 333-217914
Final Term Sheet for the Notes
The Korea Development Bank
Final Term Sheet for US$500,000,000 Floating Rate Notes due 2022 (the “Floating Rate Notes”)
| Issuer |
The Korea Development Bank | |
| Issue currency |
U.S. DOLLAR (US$) | |
| Issue size |
US$500,000,000 | |
| Maturity date |
October 1, 2022 | |
| Settlement date |
On or about October 1, 2019, which will be the sixth business day following the date of this final term sheet. If you wish to trade the Floating Rate Notes on any day prior to the second business day from the settlement, because the Floating Rate Notes will initially settle in T+6, you may be required to specify an alternate settlement cycle at the time of your trade to prevent a failed settlement. | |
| Interest rate |
Three-Month USD LIBOR plus 0.475% per annum (payable quarterly) | |
| Interest payment dates |
On January 1, April 1, July 1 and October 1 of each year, commencing on January 1, 2020 and with interest accruing from October 1, 2019. If any interest payment date or the maturity date falls on a day that is not a business day (as defined below), that interest payment date or the maturity date will be adjusted in accordance with the Modified Following Business Day Convention. The term “Modified Following Business Day Convention” means that the relevant date shall be postponed to the first following day that is a business day unless that day falls in the next calendar month in which case that date will be the first preceding day that is a business day. The term “business day” as used herein means a day other than a Saturday, a Sunday, or any other day on which banking institutions in The City of New York or Seoul are authorized or required by law or executive order to remain closed. | |
| Interest period |
The period from and including October 1, 2019 to but excluding the first interest payment date and each successive period from and including an interest payment date to but excluding the next interest payment date. | |
| Public offering price |
100% | |
| Gross proceeds |
US$500,000,000 | |
| Underwriting discounts |
0.30% | |
| Net proceeds (after deducting underwriting discounts but not estimated expenses) |
US$498,500,000 | |
| Denominations |
US$200k/1k | |
| Day count |
Interest on the Floating Rate Notes will be computed on the basis of the actual number of days in the applicable Interest Period divided by 360. | |
| Listing |
Application has been made to the Singapore Exchange Securities Trading Limited for the listing and quotation of the Floating Rate Notes. | |
| Governing law |
New York | |
| Fiscal Agent |
The Bank of New York Mellon | |
| CUSIP |
500630 CX4 | |
| ISIN |
US500630CX48 | |
| Ratings |
Aa2 (Moody’s) / AA (Standard & Poor’s) / AA- (Fitch) | |
| Joint Bookrunners and Joint Lead Managers |
BofA Securities, Inc., Credit Suisse (Hong Kong) Limited, The Hongkong and Shanghai Banking Corporation Limited, KDB Asia Limited, Mizuho Securities USA LLC and Standard Chartered Bank | |
| Co-manager |
KEXIM Asia Limited | |
| Calculation Agent |
The Bank of New York Mellon
In the absence of willful default, bad faith or manifest error, the Calculation Agent’s determination of Three-Month USD LIBOR and its calculation of the applicable interest rate for each Interest Period will be final and binding. The Calculation Agent will make available the interest rates for current and preceding Interest Periods by delivery of such notice through such medium as is available to participants in DTC, Euroclear and Clearstream, or any successor thereof, and in accordance with such applicable rules and procedures as long as the Floating Rate Notes are held in global form. In the event that the Floating Rate Notes are held in certificated form, the interest rates for current and preceding Interest Periods will be published in the manner described under the heading “Description of The Notes—Notices” in the Preliminary Prospectus. We have the right to replace the Calculation Agent with the London office of another leading commercial bank or investment bank in New York or London. If the appointed office of the Calculation Agent is unable or unwilling to continue to act as the Calculation Agent or fails to determine the interest rate for any Interest Period, the Issuer has a duty to appoint the London office of such other leading commercial bank or investment bank in New York or London as may be approved in writing by the fiscal agent. |
The Korea Development Bank
Final Term Sheet for US$500,000,000 2.125% Notes due 2024 (the “Fixed Rate Notes”)
| Issuer |
The Korea Development Bank | |
| Issue currency |
U.S. DOLLAR (US$) | |
| Issue size |
US$500,000,000 | |
| Maturity date |
October 1, 2024 | |
| Settlement date |
On or about October 1, 2019, which will be the sixth business day following the date of this final term sheet. If you wish to trade the Fixed Rate Notes on any day prior to the second business day from the settlement, because the Fixed Rate Notes will initially settle in T+6, you may be required to specify an alternate settlement cycle at the time of your trade to prevent a failed settlement. | |
| Interest rate |
2.125% per annum (payable semi-annually) | |
| Interest payment dates |
April 1 and October 1 of each year, commencing on April 1, 2020 and with interest accruing from October 1, 2019. If any interest payment date or the maturity date shall be a day on which banking institutions in The City of New York or Seoul are authorized or obligated by law to close, then such payment will not be made on such date but will be made on the next succeeding day which is not a day on which banking institutions in The City of New York or Seoul are authorized or obligated by law to close, with the same force and effect as if made on the date for such payment, and no interest shall be payable in respect of any such delay. | |
| Public offering price |
99.826% | |
| Gross proceeds |
US$499,130,000 | |
| Underwriting discounts |
0.30% | |
| Net proceeds (after deducting underwriting discounts but not estimated expenses) |
US$497,630,000 | |
| Denominations |
US$200k/1k | |
| Day count |
360-day year consisting of twelve 30-day months | |
| Listing |
Application has been made to the Singapore Exchange Securities Trading Limited for the listing and quotation of the Fixed Rate Notes. | |
| Governing law |
New York | |
| Fiscal Agent |
The Bank of New York Mellon | |
| CUSIP |
500630 CY2 | |
| ISIN |
US500630CY21 | |
| Ratings |
Aa2 (Moody’s) / AA (Standard & Poor’s) / AA- (Fitch) | |
| Joint Bookrunners and Joint Lead Managers |
BofA Securities, Inc., Credit Suisse (Hong Kong) Limited, The Hongkong and Shanghai Banking Corporation Limited, KDB Asia Limited, Mizuho Securities USA LLC and Standard Chartered Bank | |
| Co-manager |
KEXIM Asia Limited | |
These Final Term Sheets should be read in conjunction with the prospectus dated June 19, 2019, as supplemented by the preliminary prospectus supplement dated September 23, 2019 (the “Preliminary Prospectus”), relating to the Notes. All references to the “Notes” herein and in the Preliminary Prospectus are to the Floating Rate Notes and the Fixed Rate Notes, collectively.
The Issuer has filed a registration statement (including a prospectus) with the Securities and Exchange Commission for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Issuer has filed with the Securities and Exchange Commission for more complete information about the Issuer and this offering. You may get these documents free of charge by visiting EDGAR on the website of the Securities and Exchange Commission at www.sec.gov. Alternatively, an underwriter or dealer participating in the offering will arrange to send you the prospectus if you request it by calling 1-800-637-7455.
The most recent prospectus can be accessed through the following link:
https://www.sec.gov/Archives/edgar/data/869318/000119312519251241/d763386d424b5.htm
ANY DISCLAIMER OR OTHER NOTICES THAT MAY APPEAR AFTER THIS MESSAGE ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER E-MAIL SYSTEM.
| This ‘FWP’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| 10/1/24 | ||||
| 10/1/22 | ||||
| 4/1/20 | ||||
| 1/1/20 | ||||
| 10/1/19 | ||||
| Filed on: | 9/24/19 | |||
| 9/23/19 | 424B5 | |||
| 6/19/19 | EFFECT | |||
| List all Filings | ||||