Filed pursuant to Rule 433
Dated June 24, 2025
Registration No. 333-281069
Corporación Andina de Fomento
USD 1,000,000,000 4.125% Notes due 2028
| Issuer: | Corporación Andina de Fomento | |
| Ratings(1): | Moody’s: Aa3 (Positive) / S&P: AA (Stable) / Fitch: AA- (Stable) | |
| Security Status: | Senior unsecured notes; not secured by any property or assets; notes rank equally with all other unsecured and unsubordinated indebtedness | |
| Transaction Type: | SEC Registered | |
| Currency: | U.S. Dollars (“USD”) | |
| Total Principal Amount: | USD 1,000,000,000 | |
| Offering Price: | 99.785% | |
| Net Proceeds: | USD 996,850,000 | |
| Underwriting Discount: | 0.100% | |
| All-in Price: | 99.685% | |
| All-in Yield: | 4.250% | |
| Trade Date: | June 24, 2025 | |
| Settlement: | June 30, 2025 (T+4) | |
| Maturity: | June 30, 2028 | |
| Coupon: | 4.125% per annum, payable semi-annually | |
| Spread to SOFR Mid-Swap: | +69bps | |
| Benchmark Instrument: | UST 3.875% due June 15, 2028 | |
| Benchmark Instrument Price/Yield: | 100-09 3⁄4 / 3.765% | |
| Spread to Benchmark Instrument: | +43.68bps | |
| Yield to Maturity: | 4.202% | |
| Interest Payment Frequency: | Semi-annual | |
| Interest Payment Dates: | June 30 and December 30, commencing on December 30, 2025 | |
| Interest Rate Basis: |
30/360 | |
| Business Day Convention: | Modified Following, Unadjusted | |
| Redemption Provisions: | Redeemable in whole, but not in part, for tax reasons | |
| Sinking Fund Provisions: | No sinking fund provisions | |
| Form: | Global note held by depositary or the depositary’s custodian | |
| Denominations: | Denominations of USD 1,000.00 and integral multiples of USD 1,000.00 in excess thereof | |
| Clearing: | DTC / Euroclear and Clearstream (indirect participants in DTC) | |
| Joint Book-Running Managers: | Bank of Montreal, London Branch Citigroup Global Markets Limited Daiwa Capital Markets Europe Limited Goldman Sachs International | |
| Names and Addresses of Representatives: | Bank of Montreal, London Branch 100 Liverpool Street 6th Floor London EC2M 2AT United Kingdom
Citigroup Global Markets Limited Citigroup Centre Canada Square London E14 5LB United Kingdom
Daiwa Capital Markets Europe Limited 5 King William Street London EC4N 7DA United Kingdom
Goldman Sachs International Plumtree Court 25 Shoe Lane London EC4A 4AU United Kingdom | |
| Governing Law: | New York | |
| Listing: | Application will be made to admit the notes to the official list of the Financial Conduct Authority and to the regulated market of the London Stock Exchange | |
| CUSIP/ISIN: | CUSIP: 219868 CN4 ISIN: US219868CN40 | |
| (1) | These securities ratings have been provided by Moody’s, S&P and Fitch Ratings. These ratings are not a recommendation to buy, sell or hold these securities. Each rating may be subject to revision or withdrawal at any time and should be evaluated independently of any other rating. |
FCA/ICMA stabilization applies.
UK MiFIR Professionals/ECPs-only – Manufacturer target market (UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels).
MiFID Professionals/ECPs-only – Manufacturer target market (MiFID product governance) is eligible counterparties and professional clients only (all distribution channels).
No EEA or UK PRIIPs KID – No EEA or UK PRIIPs key information document (KID) has been prepared as the securities will not be available to retail in the UK or EEA.
This communication is intended for the sole use of the person to whom it is provided by the issuer.
A preliminary prospectus supplement of CAF accompanies the free-writing prospectus and is available from the SEC’s website at https://www.sec.gov/Archives/edgar/data/947438/000119312525144236/d949059d424b3.htm.
The issuer has filed a registration statement (including a prospectus) with the U.S. Securities and Exchange Commission (“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 Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you a copy of the prospectus if you request it by calling Bank of Montreal, London Branch at +44 (0) 207 664 8062, Citigroup Global Markets Limited at +44 (0) 207 986 900, Daiwa Capital Markets Europe Limited at +44 (0) 207 597 8000 or Goldman Sachs International at +1 (866) 471 2526.
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