# EDGAR Filing Document

**Accession Number:** 0001719614
**File Stem:** 0001193125-26-231814
**Filing Date:** 2026-5
**Character Count:** 7181
**Document Hash:** 5a7b1a6b894f6890eb1c8fdd7d230672
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-231814.hdr.sgml**: 20260520

**ACCESSION NUMBER**: 0001193125-26-231814

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260520

**DATE AS OF CHANGE**: 20260520

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Republic of Indonesia
- **CENTRAL INDEX KEY:** 0001719614
- **STANDARD INDUSTRIAL CLASSIFICATION:** FOREIGN GOVERNMENTS [8888]
- **ORGANIZATION NAME:** International Corp Fin
- **EIN:** 000000000
- **STATE OF INCORPORATION:** K8
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-280933
- **FILM NUMBER:** 261001607

**BUSINESS ADDRESS:**
- **STREET 1:** GEDUNG FRANS SEDA LANTAI 2
- **STREET 2:** JALAN DR. WAHIDIN RAYA NO. 1
- **CITY:** JAKARTA
- **STATE:** K8
- **ZIP:** 10710
- **BUSINESS PHONE:** 62213500841

**MAIL ADDRESS:**
- **STREET 1:** GEDUNG FRANS SEDA LANTAI 2
- **STREET 2:** JALAN DR. WAHIDIN RAYA NO. 1
- **CITY:** JAKARTA
- **STATE:** K8
- **ZIP:** 10710
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Republic of Indonesia
- **CENTRAL INDEX KEY:** 0001719614
- **STANDARD INDUSTRIAL CLASSIFICATION:** FOREIGN GOVERNMENTS [8888]
- **ORGANIZATION NAME:** International Corp Fin
- **EIN:** 000000000
- **STATE OF INCORPORATION:** K8
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** GEDUNG FRANS SEDA LANTAI 2
- **STREET 2:** JALAN DR. WAHIDIN RAYA NO. 1
- **CITY:** JAKARTA
- **STATE:** K8
- **ZIP:** 10710
- **BUSINESS PHONE:** 62213500841

**MAIL ADDRESS:**
- **STREET 1:** GEDUNG FRANS SEDA LANTAI 2
- **STREET 2:** JALAN DR. WAHIDIN RAYA NO. 1
- **CITY:** JAKARTA
- **STATE:** K8
- **ZIP:** 10710

**Filed Pursuant to Rule 433** 

**Registration Statement No. 333-280933** 

**May 19, 2026** 

**REPUBLIC OF INDONESIA** 

**Pricing Term Sheet** 

---

| | | |
|:---|:---|:---|
|  **Issuer:** | Republic of Indonesia (the "**Republic**") | Republic of Indonesia (the "**Republic**") |
|  **Specified Currency:** | Euro | Euro |
|  **Principal Amount:** | €600,000,000 | €650,000,000 |
|  **Public Offering Price:** | 99.659% | 99.868% |
|  **Gross Proceeds:** | €597,954,000 | €649,142,000 |
|  **Underwriting Discounts and Commission:** | €239,181.60 | €259,656.80 |
|  **Net Proceeds (Before Expenses):** | €597,714,818.40 | €648,882,343.20 |
|  **Interest Rate:** | 4.500% | 5.125% |
|  **Interest Payment Date:** | Interest will be paid on May 29 of each year, commencing on May 29, 2027 | Interest will be paid on May 29 of each year, commencing on May 29, 2027 |
|  **Maturity Date:** | May 29, 2033 | May 29, 2038 |
|  **Benchmark:** | DBR 2.3 02/15/33 TWIN | DBR 1 05/15/38 |
|  **Benchmark Yield:** | 3.010% | 3.380% |
|  **Spread to Benchmark:** | +154.8bps | +176.0bps |
|  **Spread to Swap:** | +145bps | +185bps |
|  **Benchmark Swap:** | 7 year EUR Mid Swap Rate | 12 year EUR Mid Swap Rate |
|  **Swap Rate:** | 3.108% | 3.290% |
|  **Re-offer Yield:** | 4.558% | 5.140% |

---

------

---

| | | |
|:---|:---|:---|
|  **Optional Redemption:** | The Republic will have the right at its option, upon giving not less than 30 days' nor more than 60 days' notice, to redeem the Bonds, in whole or in part, at any time or from time to time on or after the date that is three months prior to the maturity date of the Bonds, prior to their maturity, at a redemption price equal to the principal amount thereof, plus interest accrued but not paid on the principal amount of such Bonds to the date of redemption | The Republic will have the right at its option, upon giving not less than 30 days' nor more than 60 days' notice, to redeem the Bonds, in whole or in part, at any time or from time to time on or after the date that is three months prior to the maturity date of the Bonds, prior to their maturity, at a redemption price equal to the principal amount thereof, plus interest accrued but not paid on the principal amount of such Bonds to the date of redemption |
|  **Specified Denominations:** | €100,000 and integral multiples of €1,000 in excess thereof | €100,000 and integral multiples of €1,000 in excess thereof |
|  **Settlement Date (T+5):** | May 29, 2026 | May 29, 2026 |
|  **Day Count:** | Actual/Actual (ICMA) | Actual/Actual (ICMA) |
|  **Listing:** | Expected listing of the Bonds on the Singapore Exchange Securities Trading Limited and the Frankfurt Stock Exchange | Expected listing of the Bonds on the Singapore Exchange Securities Trading Limited and the Frankfurt Stock Exchange |
|  **Joint Lead Managers/Underwriters:** | Deutsche Bank AG, London Branch, Intesa Sanpaolo S.p.A., London Branch, Mandiri Securities Pte. Ltd., Merrill Lynch (Singapore) Pte. Ltd. and Standard Chartered Bank | Deutsche Bank AG, London Branch, Intesa Sanpaolo S.p.A., London Branch, Mandiri Securities Pte. Ltd., Merrill Lynch (Singapore) Pte. Ltd. and Standard Chartered Bank |
|  **Domestic Dealers:** | PT BRI Danareksa Sekuritas, PT BNI Sekuritas and PT Trimegah Sekuritas Indonesia Tbk | PT BRI Danareksa Sekuritas, PT BNI Sekuritas and PT Trimegah Sekuritas Indonesia Tbk |
|  **Billing and Delivery:** | Merrill Lynch (Singapore) Pte. Ltd. | Merrill Lynch (Singapore) Pte. Ltd. |
|  **Security Identifiers:** | ISIN: XS3385337723 | ISIN: XS3385337996 |

---

**MiFID II professionals/ECPs-only** — Manufacturer target market (MiFID II product governance) is eligible counterparties and professional clients only (all distribution channels).

**UK MiFIR professionals/ECPs-only** — Manufacturer target market (UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels).

**No EEA PRIIPs KID or UK CCI product summary –** No EEA PRIIPs or UK CCI product summary has been prepared as not available to retail in EEA or UK.

The Republic has filed a registration statement (including a prospectus) and other documents with the U.S. Securities and Exchange Commission (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 Republic has filed with the SEC for more complete information about the Republic and this offering. You may obtain 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 the prospectus if you request them by contacting Merrill Lynch (Singapore) Pte. Ltd. by emailing DG.DCM_ASIA_SYNDICATE@bofa.com.

A preliminary prospectus supplement dated May 19, 2026 can be accessed through the following link:

[https://www.sec.gov/Archives/edgar/data/1719614/000119312526229746/d121368d424b3.htm](http://www.sec.gov/Archives/edgar/data/1719614/000119312526229746/d121368d424b3.htm)

**ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM.**