709

2

TRY 100,000,000

As from the Issue Date, the Notes will be consolidated and form a single series with the Series 709 Tranche 1 Notes. 

TRY 97,061,000, which amount represents the sum of (a) 96.00 percent of the Aggregate Principal Amount plus (b) the amount of TRY 1,061,000 representing 20 days' accrued interest, inclusive.

June 14, 2019

Registered only, as further provided in paragraph 8(c) of "Other Relevant Terms" below.

TRY 1,000 and integral multiples thereof

Turkish Lira ("TRY")

TRY

TRY

May 24, 2021

The Maturity Date is subject to adjustment in accordance with the Modified Following Business Day Convention with no adjustment to the amount of interest otherwise calculated.

Fixed Interest Rate (Condition 5(I))

May 24, 2019

19.10 percent per annum

Semi-annually in arrear on May 24 and November 24 in each year, commencing on November 24, 2019 and ending on the Maturity Date.

An amount of TRY 95.50 per minimum Authorized Denomination is payable on each Fixed Rate Interest Payment Date.

Each Fixed Rate Interest Payment Date is subject to adjustment in accordance with the Modified Following Business Day Convention with no adjustment to the amount of interest otherwise calculated.

30/360

Istanbul

Istanbul, London and New York

TRY 1,000 per minimum Authorized Denomination

No

No

In the event the Notes become due and payable as provided in Condition 9 (Default), the Early Redemption Amount with respect to each minimum Authorized Denomination will be TRY 1,000 plus accrued and unpaid interest, if any, as determined in accordance with "13. Fixed Interest Rate (Condition 5(I))".

New York

(a)        United States:

Under the provisions of Section 11(a) of the Inter-American Development Bank Act, the Notes are exempted securities within the meaning of Section 3(a)(2) of the U.S. Securities Act of 1933, as amended, and Section 3(a)(12) of the U.S. Securities Exchange Act of 1934, as amended.

The Dealer acknowledges that one or more tranches of Notes of this series may be originally issued at an issue price that constitutes original issue discount (OID) in excess of "de minimis" OID within the meaning of applicable United States tax regulations, and that the issuer does not intend for any Notes of this series to be distributed in the United States or to come into the hands of U.S. persons.  Accordingly, the Dealer agrees not to offer or sell any Notes of this series in the United States or to U.S. persons.

(b)        United Kingdom:

The Dealer agrees that it has complied and will comply with all applicable provisions of the Financial Services and Markets Act 2000 with respect to anything done by it in relation to such Notes in, from or otherwise involving the United Kingdom.

(c)        Republic of Turkey:

The Dealer has acknowledged and understands that the Notes have not been, and will not be, authorized by the Turkish Capital Markets Board ("CMB") under the provisions of Law No. 6362 of the Republic of Turkey relating to capital markets.  The Dealer has represented, warranted and agreed that neither the Prospectus nor any other material related to the offering of Notes will be utilized in connection with any offering or sale to the public within the Republic of Turkey for the purpose of the sale of the Notes (or beneficial interests therein) without the prior approval of the CMB.

In addition, the Dealer has represented, warranted and agreed that it has not sold or caused to be sold, and will not sell or cause to be sold, outside the Republic of Turkey the Notes (or beneficial interests therein) to residents of the Republic of Turkey, unless such sale is authorized pursuant to Turkish law and applicable CMB regulations.

(d)       Japan:

The Dealer represents that it is purchasing the Notes as principal and has agreed that in connection with the initial offering of Notes, it has not offered or sold and will not directly or indirectly offer or sell any Notes in Japan or to, or for the benefit of, any resident of Japan (including any Japanese corporation or any other entity organized under the laws of Japan), or to others for re-offering or resale, directly or indirectly, in Japan or to, or for the benefit of, any resident of Japan (except in compliance with the Financial Instruments and Exchange Law of Japan (Law no. 25 of 1948, as amended) and all other applicable laws and regulations of Japan), and furthermore undertakes that any securities dealer to whom it sells any Notes will agree that it is purchasing the Notes as principal and that it will not offer or sell any notes, directly or indirectly, in Japan or to or for the benefit of any resident of Japan (except as aforesaid).

Condition 7(a)(i) is hereby amended by deleting the first sentence thereof and replacing it with the following: "Payments of principal and interest in respect of Registered Notes shall be made to the person shown on the Register at the close of business on the business day before the due date for payment thereof (the "Record Date")."

The following shall apply to Notes any payments in respect of which are payable in a Specified Currency other than United States Dollars:

Condition 7(h) is hereby amended by deleting the words "the noon buying rate in U.S. dollars in the City of New York for cable transfers for such Specified Currency as published by the Federal Reserve Bank of New York on the second Business Day prior to such payment or, if such rate is not available on such second Business Day, on the basis of the rate most recently available prior to such second Business Day" and replacing them with the words "a U.S. dollar/Specified Currency exchange rate determined by the Calculation Agent as of the second Business Day prior to such payment, or, if the Calculation Agent determines that no such exchange rate is available as of such second Business Day, on the basis of the exchange rate most recently available prior to such second Business Day. In making such determinations, the Calculation Agent shall act in good faith and in a commercially reasonable manner having taken into account all available information that it shall deem relevant".

If applicable and so appointed, and unless otherwise defined herein, the "Calculation Agent" referred to in amended Condition 7(h) shall be the Global Agent under the Bank's Global Debt Program - namely, Citibank, N.A., London Branch, or its duly authorized successor.