Obligation ADIF-ALTA VELOCIDAD 0.95% ( ES0200002048 ) en EUR

ADIF-ALTA VELOCIDAD

100 % ⇌

Espagne

ES0200002048 ( en EUR )

0.95% par an ( paiement annuel )

30/04/2027 - Obligation échue

Prospectus brochure de l'obligation ADIF-ALTA VELOCIDAD ES0200002048 en EUR 0.95%, échue

L'Obligation émise par ADIF-ALTA VELOCIDAD ( Espagne ) , en EUR, avec le code ISIN ES0200002048, paye un coupon de 0.95% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 30/04/2027

PROHIBITION OF SALES TO RETAIL INVESTORS
THE NOTES ARE NOT INTENDED TO BE OFFERED, SOLD OR OTHERWISE MADE
AVAILABLE TO AND SHOULD NOT BE OFFERED, SOLD OR OTHERWISE MADE AVAILABLE
TO ANY RETAIL INVESTOR IN THE EUROPEAN ECONOMIC AREA ("EEA"). FOR THESE
PURPOSES, A RETAIL INVESTOR MEANS A PERSON WHO IS ONE (OR MORE) OF: (I) A
RETAIL CLIENT AS DEFINED IN POINT (11) OF ARTICLE 4(1) OF DIRECTIVE 2014/65/EU (AS
AMENDED, "MIFID II"); (II) A CUSTOMER WITHIN THE MEANING OF DIRECTIVE 2002/92/EC
(AS AMENDED, THE "INSURANCE MEDIATION DIRECTIVE"), WHERE THAT CUSTOMER
WOULD NOT QUALIFY AS A PROFESSIONAL CLIENT AS DEFINED IN POINT (10) OF
ARTICLE 4(1) OF MIFID II; OR (III) NOT A QUALIFIED INVESTOR AS DEFINED IN DIRECTIVE
2003/71/EC (AS AMENDED, THE "PROSPECTUS DIRECTIVE"). CONSEQUENTLY NO KEY
INFORMATION DOCUMENT REQUIRED BY REGULATION (EU) NO 1286/2014 (THE "PRIIPS
REGULATION") FOR OFFERING OR SELLING THE NOTES OR OTHERWISE MAKING THEM
AVAILABLE TO RETAIL INVESTORS IN THE EEA HAS BEEN PREPARED AND THEREFORE
OFFERING OR SELLING THE NOTES OR OTHERWISE MAKING THEM AVAILABLE TO ANY
RETAIL INVESTOR IN THE EEA MAY BE UNLAWFUL UNDER THE PRIIPS REGULATION.
MIFID II PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND ELIGIBLE
COUNTERPARTIES ONLY TARGET MARKET
SOLELY FOR THE PURPOSES OF EACH MANUFACTURER'S PRODUCT APPROVAL PROCESS,
THE TARGET MARKET ASSESSMENT IN RESPECT OF THE NOTES HAS LED TO THE
CONCLUSION THAT: (I) THE TARGET MARKET FOR THE NOTES IS ELIGIBLE
COUNTERPARTIES AND PROFESSIONAL CLIENTS ONLY, EACH AS DEFINED IN MIFID II;
AND (II) ALL CHANNELS FOR DISTRIBUTION OF THE NOTES TO ELIGIBLE
COUNTERPARTIES AND PROFESSIONAL CLIENTS ARE APPROPRIATE. ANY PERSON
SUBSEQUENTLY
OFFERING,
SELLING
OR
RECOMMENDING
THE
NOTES
(A
"DISTRIBUTOR") SHOULD TAKE INTO CONSIDERATION THE MANUFACTURERS' TARGET
MARKET ASSESSMENT; HOWEVER, A DISTRIBUTOR SUBJECT TO MIFID II IS
RESPONSIBLE FOR UNDERTAKING ITS OWN TARGET MARKET ASSESSMENT IN RESPECT
OF THE NOTES (BY EITHER ADOPTING OR REFINING THE MANUFACTURERS' TARGET
MARKET ASSESSMENT) AND DETERMINING APPROPRIATE DISTRIBUTION CHANNELS.
Final Terms dated 23 April 2019
ADIF-ALTA VELOCIDAD
Legal entity identifier (LEI): 959800D5SDA4R1CG7K10
Issue of EUR 600,000,000 0.950 per cent. Eligible Green Projects Notes due 30
April 2027
6,000,000,000
Euro Medium Term Note Programme
PART A CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the
Conditions (the "Conditions") set forth in the Base Prospectus dated 13 November
2018 and the supplemental Base Prospectus dated 2 April 2019 which together
La autenticidad de este documento puede ser comprobada mediante el código seguro de verificación: 9NQGHT24N9N7B7M5WC1HE31V10
Verificable en https://sede.adif.gob.es/csv/valida.jsp
constitute a base prospectus (the "Base Prospectus") for the purposes of the Prospectus
Directive. This document constitutes the Final Terms of the Notes described herein for
the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction
with the Base Prospectus.

- 1-

Full information on the Issuer and the offer of the Notes 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 websites of the Irish Stock Exchange trading as Euronext
Dublin ("Euronext Dublin") (http://www.ise.ie/) and of the Central Bank of Ireland
(http://www.centralbank.ie).
The expression "Prospectus Directive" means Directive 2003/71/EC (as amended,
including by Directive 2010/73/EU).
1.
Issuer:
ADIF-Alta Velocidad
2.
(i)
Series Number:
6

(ii)
Tranche Number:
1
3.
Specified Currency or Currencies:
Euro ("EUR")
4.
Aggregate Nominal Amount:
EUR 600,000,000
5.
Issue Price:
99.846 per cent. of the Aggregate
Nominal Amount
6.
(i)
Specified Denomination:
EUR 100,000

(ii)
Calculation Amount:
EUR 100,000
7.
(i)
Issue Date:
25 April 2019

(ii)
Interest
Commencement Issue Date
Date:
8.
Maturity Date:
30 April 2027
9.
Interest Basis:
0.950 per cent. Fixed Rate

(further particulars specified in paragraph
14 below)
10.
Redemption/Payment Basis:
Subject to any purchase and cancellation
or early redemption, the Notes will be
redeemed on the Maturity Date at 100 per
cent. of their nominal amount.
11.
Change of Interest or
Not Applicable
Redemption/Payment Basis:
La autenticidad de este documento puede ser comprobada mediante el código seguro de verificación: 9NQGHT24N9N7B7M5WC1HE31V10
Verificable en https://sede.adif.gob.es/csv/valida.jsp
12.
Put/Call Options:
Not Applicable
13.
(i)
Status of the Notes:
Senior, unsecured

(ii)
Date Board approval for 30 January 2019
issuance of Notes obtained:

- 2-

PROVISIONS RELATING TO INTEREST PAYABLE
14.
Fixed Rate Note Provisions
Applicable

(i)
Rate of Interest:
0.950 per cent. per annum payable in
arrear on each Interest Payment Date

(ii)
Interest Payment Date:
30 April in each year, commencing on 30
April 2020 up to and including the
Maturity Date. There will be a long first
Interest Period from, and including, the
Interest Commencement Date to, but
excluding, 30 April 2020.

(iii)
Fixed Coupon Amount:
EUR 950 per Calculation Amount, except
in respect of the long first Interest Period.

(iv)
Broken Amount(s):
There will be a long first coupon in
respect of the first Interest Period from,
and including the Interest Commencement
Date to, but excluding, 30 April 2020, of
EUR 963.01 per Calculation Amount,
payable on the Interest Payment Date
falling on 30 April 2020.

(v)
Day Count Fraction:
Actual/Actual (ICMA)
15.
Floating Rate Note Provisions
Not Applicable
PROVISIONS RELATING TO REDEMPTION
16.
Call Option
Not Applicable
17.
Put Option
Not Applicable
18.
Final Redemption Amount of each EUR 100,000 per Calculation Amount
Note:
19.
Early Redemption Amount (Tax)

Early Redemption Amount(s) per
EUR 100,000 per Calculation Amount
Calculation Amount payable on
redemption for taxation reasons:
20.
Early Termination Amount:
EUR 100,000 per Calculation Amount
La autenticidad de este documento puede ser comprobada mediante el código seguro de verificación: 9NQGHT24N9N7B7M5WC1HE31V10
Verificable en https://sede.adif.gob.es/csv/valida.jsp
GENERAL PROVISIONS APPLICABLE TO THE NOTES
21.
Form of Notes:
Bearer Notes:

Permanent Global Note exchangeable for
Definitive
Notes
in
the
limited

- 3-

circumstances specified in the Permanent
Global Note
22.
New Global Note:
No
23.
Additional Financial Centre(s):
Not Applicable
24.
Talons for future Coupons or No
Receipts
to
be
attached
to
Definitive Notes (and dates on
which such Talons mature):

Signed on behalf of ADIF-Alta Velocidad:
Firmado electrónicamente por: ANGEL FEDERICO
CARO LAZARO
23.04.2019 13:00:20 CEST
By: ...............................................................
Duly authorised

Firmado electrónicamente por: MANUEL
MARTINEZ CEPEDA
23.04.2019 13:03:34 CEST
By: ...............................................................
Duly authorised
La autenticidad de este documento puede ser comprobada mediante el código seguro de verificación: 9NQGHT24N9N7B7M5WC1HE31V10
Verificable en https://sede.adif.gob.es/csv/valida.jsp

- 4-

PART B OTHER INFORMATION
1.
LISTING AND ADMISSION

TO TRADING
(i)
Listing:
Application is expected to be made by the
Issuer (or on its behalf) for the Notes to be
admitted to listing on the AIAF Fixed
Income Securities Market in Spain within
30 days of the Issue Date.
(ii)
Admission to Trading:
Application is expected to be made by the
Issuer (or on its behalf) for the Notes to be
admitted to trading on the AIAF Fixed
Income Securities Market in Spain within
30 days of the Issue Date.
(iii)
Estimate of total expenses
EUR 20,000
related to admission to
trading:
2.
RATINGS
The Notes to be issued are expected to be
rated
Ratings:
Moody's: Baa2

Fitch: A- (stable outlook)

Fitch Ratings España, S.A.U. ("Fitch")
and Moody's Investors Service Ltd.
("Moody's") are established in the EEA
and registered under Regulation (EU) No
1060/2009, as amended (the "CRA
Regulation").
3.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN
THE ISSUE/OFFER
Save for any fees payable to the Managers, so far as the Issuer is aware, no
person involved in the offer of the Notes has an interest material to such offer.
The 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 and its affiliates in the ordinary course of
La autenticidad de este documento puede ser comprobada mediante el código seguro de verificación: 9NQGHT24N9N7B7M5WC1HE31V10
Verificable en https://sede.adif.gob.es/csv/valida.jsp
business.
4.
YIELD
Indication of yield:
0.970 per cent. per annum
The yield is calculated at the Issue Date

- 5-

on the basis of the Issue Price. It is not an
indication of future yield.

5.
OPERATIONAL
INFORMATION
ISIN Code:
ES0200002048

Common Code:
198503762

CFI:
Not Applicable

FISN:
Not Applicable

Any clearing system(s) other than
The Notes will be cleared through the
Euroclear Bank SA/NV and
Spanish registry, clearance and settlement
Clearstream, Banking, société
system managed by Sociedad de Géstion
anonyme and the relevant
de
los
Sistemas
de
Registro,
identification number(s):
Compensación y Liquidación de Valores,
S.A. Unipersonal ("Iberclear")

Delivery:
Delivery against payment

Names and addresses of additional Not Applicable
Paying Agent(s) (if any):

Intended to be held in a manner
No
which would allow Eurosystem
eligibility:

6.
DISTRIBUTION
(i)
Method of distribution:
Syndicated

(ii)
If syndicated:

(a)
Names
of Banco Bilbao Vizcaya Argentaria, S.A.,
Managers:
Banco Santander, S.A., HSBC Bank plc
and Société Générale

(b)
Stabilising
Not Applicable
Manager(s) (if any):

(iii)
If non-syndicated, name Not Applicable
and address of Dealer:
La autenticidad de este documento puede ser comprobada mediante el código seguro de verificación: 9NQGHT24N9N7B7M5WC1HE31V10
Verificable en https://sede.adif.gob.es/csv/valida.jsp

(iv)
U.S. Selling Restrictions:
TEFRA C, Reg. S Compliance Category 1

- 6-

La autenticidad de este documento puede ser comprobada mediante el código seguro de verificación: 9NQGHT24N9N7B7M5WC1HE31V10
Verificable en https://sede.adif.gob.es/csv/valida.jsp

7

.

b
A
E
R
E
e
r
U
E
U
n
t
c
i

G

c
B
B
h
l
m
e
e
U
E

n
a
2
L
N
c
r
9
h
A
C
k
(
m
s
2
T
H
:
)
a
I

s r
O
M
t
k
a

N
A
t
R
e

R
m
e

g
K
e
u
n

l
t
a

t
o
io
n
n

:
- 7-
N

ot Applicable