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IDB Trust Services Limited (Islamic Development Bank) Sukuk USD 1,500,000,000 1.775% 10-Mar-2021 - Final Terms

IM Insights
By IM Insights
6 years ago
IDB Trust Services Limited (Islamic Development Bank) Sukuk USD 1,500,000,000 1.775% 10-Mar-2021 - Final Terms

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  1. FINAL TERMS Dated 7 March 2016 IDB Trust Services Limited Issue of U .S.$1,500,000,000 Trust Certificates due 2021 with, inter alia, the benefit of a Guarantee (in respect of the payment obligations arising under the Portfolio of the relevant Series of Trust Certificates) provided by THE ISLAMIC DEVELOPMENT BANK under the U.S.$25,000,000,000 Trust Certificate Issuance Programme The Base Prospectus referred to below (as completed by these Final Terms) has been prepared on the basis that any offer of Trust Certificates in any Member State of the European Economic Area which has implemented the Prospectus Directive (2003/71/EC) as amended (which includes the amendments made by Directive 2010/73/EU (the 2010 PD Amending Directive) to the extent that such amendments have been implemented in a relevant Member State) (the Prospectus Directive) (each, 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 Trust Certificates. Accordingly any person making or intending to make an offer in that Relevant Member State of the Trust Certificates may only do so in circumstances in which no obligation arises for IDB Trust Services Limited or any Dealer 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 IDB Trust Services Limited, the IsDB nor any Dealer has authorised, nor do they authorise, the making of any offer of Trust Certificates in any other circumstances. Part A - Contractual Terms Terms used herein shall be deemed to be defined as such for the purposes of the Terms and Conditions (the Conditions) set forth in the base prospectus dated 7 October 2015 and the base prospectus supplement dated 22 February 2016 which, together, constitute a base prospectus (the Base Prospectus) for the purposes of the Prospectus Directive. This document constitutes the Final Terms of the Trust Certificates described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Base Prospectus. Full information on the Issuer, the IsDB and the offer of the Trust Certificates described herein is only available on the basis of the combination of these Final Terms and the Base Prospectus. The Base Prospectus is available for viewing on the London Stock Exchange's website at http://www.londonstockexchange.com/exchange/news/market-news/market-newshome.html and during normal business hours at the specified office of the Principal Paying Agent set out in the Base Prospectus. 1 (i) Issuer, Trustee: IDB Trust Services Limited (ii) Guarantor (in respect of payment The Islamic Development Bank (the IsDB) obligations under the Portfolio): 2 Series Number: 26 1
  2. 3 Specified Currency or Currencies : U.S. Dollar 4 Aggregate Nominal Amount of Series: U.S.$1,500,000,000 5 Issue Price: 100 per cent. of the Aggregate Nominal Amount 6 7 (i) Specified Denominations: U.S.$200,000 and integral multiples of U.S.$1,000 in excess thereof, up to and including U.S.$399,000 (ii) Calculation Amount: U.S.$1,000 (i) Issue Date: 10 March 2016 (ii) Return Accrual Commencement The Issue Date Date: 8 Maturity Date: 10 March 2021 9 Periodic Distribution Amount Basis: 1.775 per cent. per annum Fixed Periodic Distribution Amount 10 Dissolution Basis: Dissolution at par 11 Change of Periodic Distribution Amount Not Applicable or Dissolution Basis: 12 (i) Call Options: Not Applicable (ii) Date Board approval for issuance 7 March 2016 of Trust Certificates obtained: 13 Method of distribution: Syndicated PROVISIONS RELATING TO PERIODIC DISTRIBUTION AMOUNTS (IF ANY) PAYABLE 14 Fixed Periodic Distribution Amount Applicable Provisions (i) Fixed Amount: 8.875 per Calculation Amount (ii) Periodic Distribution Date(s): 10 March and 10 September in each year adjusted in accordance with the Following Business Day Convention, starting on 10 September 2016 (iii) Rate: 1.775 per cent. per annum payable semi-annually in arrear (iv) Return Accumulation Period: Condition 7.5 (Return Accumulation Period) applies (v) Broken Amount(s): Not Applicable 2
  3. Part B – Other Information 1 2 LISTING (i) Listings: (ii) Admission to trading: London, NASDAQ Dubai and Bursa Malaysia (Exempt Regime) Application has been made by the Trustee (or on its behalf) for the Trust Certificates to be admitted to trading on (i) the Regulated Market of the London Stock Exchange with effect from or around 10 March 2016, and (ii) the NASDAQ Dubai Market with effect from or around 13 March 2016 RATINGS Ratings: The Trust Certificates to be issued will be rated: S&P: AAA (with stable outlook) Moody’s: Aaa (with stable outlook) Fitch: AAA (with stable outlook) 3 INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE/OFFER Save for any fees payable to the Joint Lead Managers and save as discussed in “Subscription and Sale” of the Base Prospectus, so far as the Issuer or the IsDB is aware, no person involved in the offer of the Trust Certificates has an interest material to the offer. The Joint Lead Managers and their affiliates have engaged, and may in the future engage, in investment banking and/or commercial banking transactions with, and may perform other services for, the Issuer or the Guarantor and their affiliates in the ordinary course of business for which they may receive fees. 4 ESTIMATED TOTAL EXPENSES Estimated total expenses related to the admission to trading: 5 GBP 3,600 Fixed Periodic Distribution Amount Trust Certificates only – YIELD Indication of yield: 1.775 per cent. As set out above, the yield is calculated at the Issue Date on the basis of the Issue Price. It is not an indication of future yield. 6 OPERATIONAL INFORMATION (i) (ii) (iii) ISIN Code: XS1365520151 Common Code: 136552015 Any clearing system(s) other than Not Applicable Euroclear Bank S.A./N.V. and Clearstream Banking Société Anonyme and the relevant identification 4
  4. number (s): (iv) Delivery: Delivery against payment (v) Names and addresses of initial paying HSBC Bank plc agent(s): 8 Canada Square London E14 5HQ United Kingdom (vi) Names and addresses of additional Not Applicable paying agent(s) (if any): 5