Bond IBRD-Global 14.5% ( XS0760246263 ) in NGN

IBRD-Global

100 % ⇌

United States

XS0760246263 ( in NGN )

14.5% per year ( payment 1 time a year)

28/03/2013 - Bond has expired

Prospectus brochure of the bond IBRD XS0760246263 in NGN 14.5%, expired

7 860 000 000 NGN

The International Bank for Reconstruction and Development (IBRD) is an international financial institution that offers loans and advice to middle-income and creditworthy low-income countries for development projects.

The Bond issued by IBRD-Global ( United States ) , in NGN, with the ISIN code XS0760246263, pays a coupon of 14.5% per year.
The coupons are paid 1 time per year and the Bond maturity is 28/03/2013

Final Terms dated 23 March 2012

International Bank for Reconstruction and Development

Issue of NGN 7,860,000,000 14.50 per cent. FX Linked Notes due 28 March 2013
payable in United States Dollars

under the
Global Debt Issuance Facility
Terms used herein shall be deemed to be defined as such for the purposes of the terms and
conditions (the "Conditions") set forth in the Prospectus dated May 28, 2008. This document
constitutes the Final Terms of the Notes described herein and must be read in conjunction with
such Prospectus.
SUMMARY OF THE NOTES
1. Issuer:
International Bank for Reconstruction and Development
("IBRD")
2. (i) Series Number:
10733
(ii) Tranche Number:
1
3. Specified Currency or Currencies
Nigerian Naira ("NGN") provided that all payments in
(Condition 1(d)):
respect of the Notes will be made in United States Dollars
("USD").
4. Aggregate Nominal Amount:

(i) Series:
NGN 7,860,000,000
(ii) Tranche:
NGN 7,860,000,000
5. (i) Issue Price:
100.00 per cent. of the Aggregate Nominal Amount.
(ii) Net Proceeds
USD 50,000,000 (equivalent to the Issue Price of NGN
7,860,000,000 converted into USD at the initial exchange
rate of NGN 157.20 per USD 1.00)
6. (i) Specified Denominations
NGN 20,000,000 and integral multiples of NGN

(Condition 1(b)):
1,000,000 in excess thereof
(ii) Calculation Amount:
NGN 1,000,000
7. Issue Date:
28 March 2012
8. Maturity Date (Condition 6(a)):
28 March 2013 (the "Scheduled Maturity Date") as may
be postponed subject to the Disruption Provisions set out
in Terms 19 and 20
9. Interest Basis (Condition 5):
14.50 per cent. Fixed Rate
(further particulars specified below in Term 16)
10. Redemption/Payment Basis
FX Linked Redemption as set out in Term 17
(Condition 6):
11. Change of Interest or Redemption/
Not Applicable
Payment Basis:
12. Call/Put Options (Condition 6):
Not Applicable
13. Status of the Notes (Condition 3):
Unsecured and unsubordinated
14. Listing:
Luxembourg Stock Exchange
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15. Method of distribution:
Non-syndicated
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
16. Fixed Rate Note Provisions
Applicable
(Condition 5(a)):
(i) Rate of Interest:
14.50 per cent.
(ii) Interest Payment Dates:
28 September 2012 (the "September Interest Payment
Date") and 28 March 2013 (the "March Interest
Payment Date" and, together with the September interest
Payment Date, the "Scheduled Interest Payment Dates"
and each a "Scheduled Interest Payment Date"), subject
to postponement as provided in Terms 19 and 20, with no
additional interest amount or other amount payable in
relation to such postponement.
(iii) Fixed Coupon Amount:
NGN 73,095.89 per Calculation Amount to be paid on the
September Interest Payment Date in USD, and calculated
by the Calculation Agent on the Rate Fixing Date as
follows:
73,095.89 divided by USD/NGN Exchange Rate (as
defined below in Term 20); and
NGN 71,904.11 per Calculation Amount to be paid on the
March Interest Payment Date in USD, and calculated by
the Calculation Agent on the Rate Fixing Date as follows:
71,904.11 divided by USD/NGN Exchange Rate (as
defined below in Term 20).
(iv) Broken Amount(s):
Not Applicable
(v) Day Count Fraction:
Actual/Actual (ISDA)
(vi) Other terms relating to the method of
See Term 19 (Disruption Provisions) and Term 20
calculating interest for Fixed Rate
(Additional Definitions) below.
Notes:
PROVISIONS RELATING TO REDEMPTION
17. Final Redemption Amount of each Note

(Condition 6):
In cases where the Final Redemption

Amount is Index Linked or other variable-
linked:
(i)
Index/Formula/variable
The Final Redemption Amount per Calculation Amount
will be payable in USD and calculated by the Calculation
Agent on the Rate Fixing Date as follows:
Calculation Amount divided by USD/NGN Exchange
Rate (as defined below in Term 20).
(ii) Provisions for determining Final
See Term 19 below
Redemption Amount where

calculation by reference to Index
and/or Formula and/or other variable

is impossible or impracticable or

otherwise disrupted:

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(iii) Payment Date:
The Scheduled Maturity Date (as defined in Term 8)
subject to postponement in accordance with Terms 19 and
20 with no additional amounts payable in relation to such
postponement.
18. Early Redemption Amount
The Final Redemption Amount payable in USD as
(Condition 6(c)):
determined in accordance with Term 17 above (plus
accrued interest to, but excluding, the date of early

redemption).
DISRUPTION PROVISIONS AND ADDITIONAL DEFINITIONS
19. Disruption Provisions:
(a) In the event (i) the Scheduled Rate Fixing Date (as
defined in Term 20) becomes subject to the
Following Business Day Convention (as defined in
Term 20) upon the occurrence of an Unscheduled
Holiday or (ii) Rate Fixing Postponement applies, the
relevant Scheduled Interest Payment Date, Scheduled
Maturity Date or Early Redemption Payment Date, as
applicable, shall be postponed by each day for which
the relevant Scheduled Rate Fixing Date is so
postponed.

(b) In the event (i) the Scheduled Rate Fixing Date
becomes subject to the Following Business Day
Convention after the occurrence of an Unscheduled
Holiday or (ii) Rate Fixing Postponement applies,
and if the Rate Fixing Date has not occurred on or
before the 14th calendar day after the Scheduled Rate
Fixing Date (any such period being a "Deferral
Period") then:

(x) The next day after the Deferral Period that
would have been a Business Day but for the
Unscheduled Holiday, or the next day after the
Deferral Period that is a Business Day in the
event of a continuing Disruption Event, shall
be deemed to be the Rate Fixing Date (the
"Postponed Rate Fixing Date"); and

(y) the Calculation Agent shall be entitled to
determine the USD/NGN Exchange Rate on
such Postponed Rate Fixing Date, acting in
good faith and in a commercially reasonable
manner, having taken into account all available
information that it deems relevant.

For the avoidance of doubt, no additional
interest or other additional amounts shall be
payable by IBRD in the event that the
relevant Scheduled Interest Payment Date or
Scheduled Maturity Date or Early Redemption
Payment Date, as applicable, is postponed in
accordance with this Term 19.

(c) Notwithstanding anything herein to the contrary, in
no event shall the total number of consecutive
calendar days during which either (i) the Rating
Fixing Date is postponed due to an Unscheduled
Holiday or (ii) a Rate Fixing Postponement shall
occur (or any combination of (i) and (ii)), exceed 14
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consecutive days in the aggregate. Accordingly, (x)
if, upon the lapse of any such 14 day period, an
Unscheduled Holiday shall have occurred or be
continuing on the day following such period, then
such day shall be deemed to be a Rate Fixing Date
and (y) if, upon the lapse of any such 14 day period,
a Disruption Event shall have occurred or be
continuing on the day following such period, then
Rate Fixing Postponement shall not apply and in
each case, the USD/NGN Exchange Rate shall be
determined in accordance with Term 19(b)(ii) above.

(d) If an event or a circumstance which would otherwise
constitute or give rise to an Inconvertibility Event
also constitutes a Price Source Disruption, it will be
treated as a Price Source Disruption and not an
Inconvertibility Event.

(e) The Calculation Agent shall in each case, as soon as
reasonably practicable, give notice, in accordance
with Condition 12, to the Fiscal Agent, the Paying
Agent, IBRD and the Clearing Systems of:

(i)
the occurrence of any Unscheduled Holiday or
Disruption Event; and
(ii)
the date on which an Unscheduled Holiday or a
Disruption Event ceases to exist and the
Postponed Rate Fixing Date (if any); and/or;
(iii) the fact that the USD/NGN Exchange Rate is
to be determined by the Calculation Agent in
accordance with this Term 19.
Copies of all quotes obtained by the Calculation
Agent will be provided by the Calculation Agent to
IBRD upon request. For the avoidance of doubt, the
USD/NGN Exchange Rate may be such that the
resulting USD amount is zero and in such event no
USD or NGN amount will be payable. For the
avoidance of doubt, the resulting amount cannot in
any circumstances be less than zero, as applicable.
20. Additional Definitions
"Business Day" means a day (other than a Saturday or
Sunday) on which the banks and foreign exchange
markets are open for general business (including dealings
in foreign exchange and foreign currency deposits) in
Lagos, London and New York.
"Calculation Agent" means Standard Chartered Bank.
"Clearing Systems" means Euroclear Bank S.A./N.V.,
Clearstream Banking, société anonyme and any successor
or alternative clearing system(s) as may be appointed by
IBRD from time to time in relation to the Notes.
"Deferral Period": has the meaning given to it in Term
19 above.
"Disruption Event" means each and any of a Price
Source Disruption, an Inconvertibility Event or a Market
Disruption Event.
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"Early Redemption Payment Date" means, in relation
to redemption of a Note pursuant to Condition 9, the day
on which the Note becomes due and payable in
accordance with the terms of such Condition 9.
"EMTA NGN Indicative Survey Rate" means in respect
of a Rate Fixing Date, the USD/NGN ask rate for USD
expressed as the amount of NGN per one USD, for
settlement in five Business Days, as published on EMTA's
website (www.emta.org) at approximately 12:00 p.m.,
Lagos time, or as soon thereafter as practicable, on such
Rate Fixing Date. The spot rate shall be calculated by
EMTA (or a service provider EMTA may select in its sole
discretion) pursuant to the EMTA NGN Indicative Survey
Rate Methodology (which means a methodology dated as
of 27 December 2010, as amended from time to time, for
a centralized industry-wide survey of financial institutions
that are active participants in USD/NGN markets for the
purpose of determining the EMTA NGN Indicative
Survey Rate).
"Inconvertibility Event" means in the sole and absolute
determination of the Calculation Agent any action, event
or circumstance whatsoever which from a legal or
practical perspective:
(i)
has the direct or indirect effect of hindering,
limiting or restricting (1) the convertibility of
NGN into USD through customary legal channels,
or (2) the transfer of NGN (a) from the Federative
Republic of Nigeria ("Nigeria") to any other
country or (b) between accounts in Nigeria or to a
party that is a non-resident of Nigeria (including,
without limitation, any delay, increased costs,
discriminatory rates of exchange or current or
future restrictions on the conversion of NGN into
USD or transferability of NGN outside Nigeria or
to non-residents of Nigeria)
(ii)
results in the unavailability of NGN in the
interbank foreign exchange market in accordance
with normal commercial practice,
and in each case, which affects the ability of market
participants to enter into, maintain, unwind or dispose of
any transaction(s) or asset(s) that are used in the market to
hedge the currency risk arising from the exchange rate
movements between NGN and USD.
"Lagos Business Day" means a day (other than a
Saturday or Sunday) on which the banks and foreign
exchange markets are open for general business
(including dealings in foreign exchange and foreign
currency deposits) in Lagos.
"Market Disruption Event" means any event, other than
an Inconvertibility Event and a Price Source Disruption,
as a result of which the Calculation Agent is unable to
determine any amount falling to be determined by it in
respect of the Notes, which event shall include, without
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limitation:
(a)
a natural or man-made disaster, armed conflict, act
of terrorism, riot, labour disruption or any other
circumstance beyond its control; or
(b)
the
enactment,
promulgation,
execution,
ratification or adoption of, or any change in or
amendment to, any rule, law, regulation or statute
(or in the applicability or official interpretation of
any rule, law, regulation or statute) or the issuance
of any order or decree,
and in each case, which affects the ability of market
participants to enter into, maintain, unwind or dispose of
any transaction(s) or asset(s) that are used in the market to
hedge the currency risk arising from the exchange rate
movements between NGN and USD.
"USD/NGN Exchange Rate" means the spot currency
exchange rate (expressed as the amount of NGN for one
USD) determined by the Calculation Agent on the
relevant Rate Fixing Date by reference to the "NGN
FMDA Rate" or "NGN01 Rate" or, in the event the
"NGN FMDA Rate" or "NGN01 Rate" is not available on
the relevant Rate Fixing Date, by reference to the
applicable "EMTA NGN Indicative Survey Rate", and, if
applicable, in the event of an Unscheduled Holiday or a
Disruption Event, in accordance with the provisions of
Term 19 above.
"NGN FMDA Rate" or "NGN01 Rate" means, in
respect of a Rate Fixing Date, the USD/NGN specified
rate expressed as the amount of NGN per one USD for
settlement in two Business Days reported by the Financial
Market Dealers Association of Nigeria, which is
published at www.fmda.com.ng (and which may appear at
Thomson Reuters Screen NIFEX01) at or around 10:00
am Lagos time on such Rate Fixing Date. For the
avoidance of doubt, if there is any discrepancy between
the rate published at www.fmda.com.ng and Thomson
Reuters Screen NIFEX01, the rate published at
www.fmda.com.ng shall prevail.
In the event that the "NGN FMDA Rate" is not available
on the applicable Rate Fixing Date, the Calculation Agent
shall determine the USD/NGN Exchange Rate by
reference to the applicable "EMTA NGN Indicative
Survey Rate" (if such rate is available).
"Postponed Rate Fixing Date" has the meaning given to
it in Term 19 above.
"Price Source Disruption" means in respect of a Rating
Fixing Date, it becomes impossible to obtain both the
NGN FMDA Rate and the EMTA NGN Indicative Survey
Rate on such date.
"Rate Fixing Date" means the day that is five Business
Days prior to the relevant Interest Payment Date or
Maturity Date or Early Redemption Payment Date, as
applicable ("Scheduled Rate Fixing Date"), provided
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that, the Scheduled Rate Fixing Date in question shall be
adjusted in accordance with (i) the Following Business
Day Convention (subject to the Disruption Provisions set
forth above) in the event of an Unscheduled Holiday
and/or (ii) Rate Fixing Postponement in the event of a
Disruption Event.
"Rate Fixing Postponement" means, for the purposes of
obtaining the USD/NGN Exchange Rate in the event of a
Disruption Event, that the USD/NGN Exchange Rate will
be determined on the Business Day first succeeding the
day on which the Disruption Event ceases to exist.
"Unscheduled Holiday" means a day that is not a Lagos
Business Day and the market was not aware of such fact
(by means of a public announcement or by reference to
other publicly available information) until a time later
than 9:00 a.m. Lagos time two Lagos Business Days prior
to the Scheduled Rate Fixing Date.
GENERAL PROVISIONS APPLICABLE TO THE NOTES
21. Form of Notes (Condition 1(a)):
Registered Notes

Global Registered Certificate available on Issue Date
22. New Global Note:
No
23. Financial Centre(s) or other special
Lagos, London and New York
provisions relating to payment dates
(Condition 7(h)):
24. Governing law (Condition 14):
English
25. Other final terms:
Not Applicable
DISTRIBUTION
26. (i) If syndicated, names of Managers and
Not Applicable
underwriting commitments:
(ii) Stabilizing Manager(s) (if any):
Not Applicable
27. If non-syndicated, name of Dealer:
Standard Chartered Bank (acting through its principal
office in London)
28. Total commission and concession:
None
29. Additional selling restrictions:
Nigeria
Neither the Prospectus, these Final Terms nor the Notes
has been registered with the Nigerian Securities and
Exchange Commission or any other regulatory authority
in Nigeria. The Notes shall not be offered for circulation,
distribution, placement, sale, purchase or other transfer in
the territory of Nigeria. Nothing in this document or any
other documents, information or communications related
to the Notes shall be interpreted as containing any offer or
invitation to, or solicitation of, any such circulation,
distribution, placement, sale, purchase or other transfer in
the territory of Nigeria.
OPERATIONAL INFORMATION
30. ISIN Code:
XS0760246263
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31. Common Code:
076024626
32. Delivery:
Delivery against payment
33. Registrar and Transfer Agent (if any):
Citibank, N.A., London Branch
34. Intended to be held in a manner which
No
would allow Eurosystem eligibility:

GENERAL INFORMATION
IBRD's most recent Information Statement was issued on 4 October 2011.

CONFLICT OF INTEREST
Standard Chartered Bank will be calculation agent under the Notes and will also be IBRD's
counterparty in a related swap transaction entered into by IBRD in order to hedge its obligations
under the Notes. The existence of such multiple roles and responsibilities for Standard Chartered
Bank creates possible conflicts of interest. For example, the amounts payable by Standard
Chartered Bank to IBRD under the related swap transaction are expected, as of the Issue Date, to
be calculated on the same basis as the amounts payable by IBRD under the Notes. As a result, the
determinations made by Standard Chartered Bank in its discretion as Calculation Agent for the
Notes may affect the amounts payable by Standard Chartered Bank under the related swap
transaction, and, in making such determinations, Standard Chartered Bank may have economic
interests adverse to those of the Noteholders. The Noteholder understands that although IBRD will
enter into the related swap transaction with Standard Chartered Bank as swap counterparty in
order to hedge its obligations under the Notes, IBRD's rights and obligations under the related
swap transaction will be independent of its rights and obligations under the Notes, and
Noteholders will have no interest in the related swap transaction or any payment to which IBRD
may be entitled thereunder.

LISTING APPLICATION
These Final Terms comprise the final terms required for the admission to the Official List of the
Luxembourg Stock Exchange and to trading on the Luxembourg Stock Exchange's regulated
market of the Notes described herein issued pursuant to the Global Debt Issuance Facility of
International Bank for Reconstruction and Development.

RESPONSIBILITY
IBRD accepts responsibility for the information contained in these Final Terms.
Signed on behalf of IBRD:

By:

Name:
Title:

Duly Authorized

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