Bond IBRD-Global 10.8% ( XS1040859461 ) in TRY

Issuer IBRD-Global
Market price 100 %  ▲ 
Country  United States
ISIN code  XS1040859461 ( in TRY )
Interest rate 10.8% per year ( payment 1 time a year)
Maturity 10/09/2015 - Bond has expired



Prospectus brochure of the bond IBRD XS1040859461 in TRY 10.8%, expired


Minimal amount /
Total amount 100 000 000 TRY
Detailed description 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 TRY, with the ISIN code XS1040859461, pays a coupon of 10.8% per year.
The coupons are paid 1 time per year and the Bond maturity is 10/09/2015










Final Terms dated 5 March 2014
International Bank for Reconstruction and Development

Issue of TRY 100,000,000 10.75 per cent. Notes due 10 September 2015

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:
11048
(ii) Tranche Number:
1
3. Specified Currency or Currencies Turkish Lira ("TRY")
(Condition 1(d)):
4. Aggregate Nominal Amount:

(i) Series:
TRY 100,000,000
(ii) Tranche:
TRY 100,000,000
5. Issue Price:
100.00 per cent. of the Aggregate Nominal Amount
6. Specified Denomination
TRY 1,000
(Condition 1(b)):
7. Issue Date:
10 March 2014
8. Maturity Date (Condition 6(a)):
10 September 2015
9. Interest Basis (Condition 5):
10.75 per cent. Fixed Rate
(further particulars specified below in Term 16)
10. Redemption/Payment Basis
Redemption at par
(Condition 6):
11. Change of Interest or
Not Applicable
Redemption/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
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:
10.75 per cent. per annum payable annually in arrear
(ii) Interest Payment Dates:
10 September 2015


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(iii) Fixed Coupon Amount:
TRY 161.69 per Specified Denomination
(iv) Broken Amount(s):
Not Applicable
(v) Day Count Fraction
Actual/Actual (ICMA)

(Condition 5(l)):
(vi) Other terms relating to the
Not Applicable
method of calculating
interest for Fixed Rate
Notes:
PROVISIONS RELATING TO REDEMPTION
17. Final Redemption Amount of
TRY 1,000 per Specified Denomination
each Note (Condition 6):
18. Early Redemption Amount
As set out in the Conditions
(Condition 6(c)):
GENERAL PROVISIONS APPLICABLE TO THE NOTES
19. Form of Notes (Condition 1(a)):
Registered Notes:

Global Registered Certificate available on Issue Date
20. New Global Note:
No
21. Financial Centre(s) or other
London, New York and Istanbul
special provisions relating to
payment dates (Condition 7(h)):
22. Governing law (Condition 14):
English
23. Other final terms:
Not Applicable
DISTRIBUTION
24. (i) If syndicated, names of
Not Applicable
Managers and underwriting
commitments:
(ii) Stabilizing Manager(s) (if
Not Applicable
any):
25. If non-syndicated, name of
J.P. Morgan Securities plc
Dealer:
26. Total commission and
0.125 per cent. combined management and underwriting
concession:
commission
27. Additional selling restrictions:
Turkey
The Dealer has acknowledged that pursuant to Article 15
of Decree No. 32 containing the Foreign Exchange Rules
of Turkey, the purchase and sale of the Notes issued in a
foreign jurisdiction by the Dealer to persons resident in
Turkey are permitted and are not subject to restrictions,
except that the transfers relating to the purchase or sale
of such Notes should be made through authorised banks
or intermediary institutions authorised to carry out
securities transactions according to the Capital Market
Legislation of Turkey.
The Dealer has represented, agreed and warranted that it
wil not permit the distribution of the Prospectus nor any
other offering material or any disclosure documents
relating to the issue of the Notes in Turkey.
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OPERATIONAL INFORMATION

28. ISIN Code:
XS1040859461
29. Common Code:
104085946
30. Delivery:
Delivery against payment
31. Registrar and Transfer Agent (if
Citibank, N.A., London Branch
any):
32. Intended to be held in a manner
No
which would allow Eurosystem
eligibility:
GENERAL INFORMATION

IBRD's most recent Information Statement was issued on September 18, 2013.

SUPPLEMENTAL PROSPECTUS INFORMATION
The Prospectus is hereby supplemented with the following information, which shall be deemed
to be incorporated in, and to form part of, the Prospectus.

The Executive Directors of IBRD approved two Management proposals on February 11, 2014.

The Executive Directors approved a package of measures designed to enhance IBRD's
financial capacity to meet borrowing country needs, comprised of the following four elements:

· IBRD's target minimum equity-to-loans ratio was revised from 23 percent to 20 percent,
reflecting improvement in IBRD's portfolio credit quality since the previous target was adopted
in 2008; as of December 31, 2013, IBRD's equity-to-loans ratio was 25.8 percent;
· IBRD's Single Borrower Limit (SBL) was increased to $20 bil ion for India and $19 bil ion for
other SBL-eligible borrowing countries, with a surcharge of 50 basis points per annum on loan
balances in excess of the previous SBL ($17.5 bil ion for India and $16.5 bil ion for other SBL-
eligible borrowing countries) in order to help support the increase in the SBL;
· Commitment fees of 25 basis points per annum on undisbursed balances on IBRD loans wil
be restored, effective July 1, 2014; and
· The maximum maturity for most IBRD loans and guarantees wil be extended from the current
limits of 30 years final/18 years average to 35 years final/20 years average, with the
application of a revised maturity premium schedule, effective July 1, 2014; the maturity
premium charges wil increase, with the starting point for these charges starting at 8 years
average maturity rather than the prior level of 12 years average maturity.

The Executive Directors also approved a new Equity Management Framework (EMF), which
shares the same objective as the equity duration extension strategy approved in 2007 - namely, to
reduce the sensitivity of IBRD's equity income to fluctuations in short-term interest rates. The EMF
provides more flexibility to manage equity income. In particular, the EMF allows for the possibility
of shortening the duration of IBRD's equity, when warranted by market and macroeconomic
conditions, whereas the equity duration extension strategy required that duration be maintained
within a range of 4 to 5 years. The EMF also provides for a wider variety of tools and strategies for
managing equity income than the equity duration extension strategy. The Executive Directors
approved Management's recommendation to maintain a short duration for equity in the short-term,
with the authority to enter into other approved strategies or combinations thereof as market
conditions warrant.
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LISTING APPLICATION

These Final Terms comprise the final terms required for the admission to the Of icial List of

the Luxembourg Stock Exchange and to trading on the Luxembourg Stock Exchange's regulated
market of the Notes described herein pursuant to the Global Debt Issuance Facility of the
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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Document Outline