Filed pursuant to Rule 433
Registration No. 333-206499
July 5, 2016
Final Term Sheet
EUR 1,000,000,000 0.375% Global Bonds due 2026
To be fungible and form a single issuance with KfW’s
EUR 4,000,000,000 0.375% Global Bonds due 2026
issued on March 9, 2016
|
Terms: |
|
|
|
|
|
|
|
Issuer: |
|
KfW |
|
|
|
|
|
Guarantor: |
|
Federal Republic of Germany |
|
|
|
|
|
Aggregate Principal Amount: |
|
EUR 1,000,000,000 |
|
|
|
|
|
Denomination: |
|
EUR 1,000 |
|
|
|
|
|
Maturity: |
|
March 9, 2026 |
|
|
|
|
|
Redemption Amount: |
|
100% |
|
|
|
|
|
Interest Rate: |
|
0.375% per annum, payable annually in arrears |
|
|
|
|
|
Date of Pricing: |
|
July 5, 2016 |
|
|
|
|
|
Closing Date: |
|
July 12, 2016 |
|
|
|
|
|
Interest Payment Dates: |
|
March 9 in each year |
|
|
|
|
|
First Interest Payment Date: |
|
March 9, 2017 (for interest accrued from, and including, March 9, 2016 to, but excluding, March 9, 2017) |
|
|
|
|
|
Accrued Interest: |
|
In the aggregate amount of EUR 1,284,246.58 from, and including, March 9, 2016 to, but excluding, July 12, 2016 (for aggregate principal amount of EUR 1,000,000,000) |
|
|
|
|
|
Currency of Payments: |
|
EUR |
|
|
|
|
|
Price to Public/Issue Price: |
|
103.435%, plus Accrued Interest |
|
|
|
|
|
Underwriting Commissions: |
|
None |
|
|
|
|
|
Proceeds to Issuer: |
|
103.435%, plus Accrued Interest |
|
|
|
|
|
Format: |
|
SEC-registered global bonds |
|
|
|
|
|
Listing: |
|
Frankfurt Stock Exchange (regulated market) |
|
|
|
|
|
Business Day: |
|
Frankfurt |
|
|
|
|
|
Business Day Convention: |
|
Following, unadjusted |
|
Day Count Fraction: |
|
Actual/Actual ICMA |
|
|
|
|
|
Governing Law/Jurisdiction: |
|
German Law; District Court Frankfurt am Main |
|
|
|
|
|
Gross-Up: |
|
No gross-up if tax deduction or withholding is imposed |
|
|
|
|
|
Cross-Default: |
|
None |
|
|
|
|
|
Clearing System: |
|
CBF (CBL, Euroclear) |
|
|
|
|
|
Selling Restrictions: |
|
European Economic Area, UK, Japan, Canada, Hong Kong |
|
|
|
|
|
ISIN: |
|
DE000A168Y55 |
|
|
|
|
|
Ratings of Issuer:1 |
|
Aaa by Moody’s Investors Service, AAA by Scope Ratings and AAA by S&P Global Ratings |
|
|
|
|
|
Lead Managers: |
|
BofA Merrill Lynch |
|
|
|
|
|
Stabilization Manager: |
|
DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main |
|
|
|
|
|
Paying Agent: |
|
KfW |
The issuer has filed a registration statement (including a prospectus) with the SEC 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 SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Website at www.sec.gov. The prospectus supplement relating to the bonds is available under the following link: http://www.sec.gov/Archives/edgar/data/821533/000104746915008393/a2225793z424b3.htm. KfW’s base prospectus relating to the bonds is available through the following link: http://www.sec.gov/Archives/edgar/data/821533/000104746915008388/a2225819z424b3.htm. Alternatively, BofA Merrill Lynch will arrange to send you the prospectus, which you may request by calling toll-free +1-800-294-1322.
1 A security rating is not a recommendation to buy, sell or hold securities. Ratings are subject to revision or withdrawal at any time by the assigning rating organization. Each rating should be evaluated independently of any other rating.