Bond IBRD-Global 9.5% ( XS1890072488 ) in KZT

Issuer IBRD-Global
Market price 100 %  ⇌ 
Country  United States
ISIN code  XS1890072488 ( in KZT )
Interest rate 9.5% per year ( payment 1 time a year)
Maturity 05/10/2021 - Bond has expired



Prospectus brochure of the bond IBRD XS1890072488 in KZT 9.5%, expired


Minimal amount 1 000 000 KZT
Total amount 3 250 000 000 KZT
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 IBRD bond (ISIN: XS1890072488), a USD-denominated KZT 3,250,000,000 issue with a 9.5% coupon rate, maturing on 05/10/2021, has reached maturity and been repaid at 100%, with a minimum lot size of 1,000,000 and a frequency of payment of 1.







Final Terms dated 15 May 2019

International Bank for Reconstruction and Development

Issue of KZT 2,000,000,000 9.50 per cent. Notes due 5 October 2021
payable in United States Dollars
(to be consolidated and form a single series with the existing
KZT 1,250,000,000 9.50 per cent. Notes due 5 October 2021, issued on 5 October 2018)
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 28 May 2008. This document constitutes the Final Terms of
the Notes described herein and must be read in conjunction with such Prospectus.
MiFID II product governance / Retail investors, professional investors and ECPs target markets ­
See Term 29 below.
SUMMARY OF THE NOTES

1. Issuer:
International Bank for Reconstruction and Development
("IBRD")
2. (i) Series Number:
100552
(ii) Tranche Number:
2
3. Specified Currency or Currencies
Kazakhstan Tenge ("KZT") 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:
KZT 3,250,000,000
(ii) Tranche:
KZT 2,000,000,000
5. (i) Issue Price:
103.589 per cent. of the Aggregate Nominal Amount of this
Tranche, plus 227 days' accrued interest
(ii) Net Proceeds:
USD 5,772,125.42 (equivalent to KZT 2,189,944,383.56 at
the KZT/USD exchange rate of KZT 379.40 per USD 1.00)
6. (i) Specified Denominations
KZT 1,000,000 and integral multiples in excess thereof.

(Condition 1(b)):
(ii) Calculation Amount:
KZT 1,000,000
7. (i) Issue Date:
20 May 2019

(ii)
Interest Commencement Date
5 October 2018


(Condition 5(l)):
8. Maturity Date (Condition 6(a)):
5 October 2021, unless the corresponding FX Valuation Date
is postponed beyond the Scheduled FX Valuation Date due to
an Unscheduled Holiday or because a Price Source
Disruption in respect of the FX Rate has occurred, in which
case the Maturity Date shall be postponed to the fifth
Business Day after the date on which the FX Rate is
determined (further particulars specified below in Term
16(vii)). For the avoidance of doubt, no additional interest or



other additional amounts shall be payable by IBRD in the
event that the Maturity Date is so postponed.
9. Interest Basis (Condition 5):
9.50 per cent. Fixed Rate
(further particulars specified below)
10. Redemption/Payment Basis
Redemption at par, payable in USD
(Condition 6):
(further particulars specified below)
11. Change of Interest or
Not Applicable
Redemption/Payment Basis:
12. Call/Put Option (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:
9.50 per cent. per annum payable annually in arrear
(ii) Interest Payment Date(s):
5 October in each year, from and including 5 October 2019 to
and including the Maturity Date, unless the corresponding
FX Valuation Date is postponed beyond the Scheduled FX
Valuation Date due to an Unscheduled Holiday or because a
Price Source Disruption in respect of the FX Rate has
occurred, in which case the Interest Payment Date shall be
postponed to the fifth Business Day after the date on which
the FX Rate is determined (further particulars specified
below in Term 16(vii)).
For the avoidance of doubt, no additional interest or other
additional amounts shall be payable by IBRD in the event
that the relevant Interest Payment Date is so postponed.
(iii) Interest Period Dates:
5 October in each year, from and including 5 October 2019 to
and including the Maturity Date, not subject to adjustment in
accordance with a Business Day Convention.
(iv) Business Day Convention:
Not Applicable
(v) Fixed Coupon Amount(s):
The Fixed Coupon Amount for the relevant Interest Period
shall be KZT 95,000 per Calculation Amount, payable in
USD and determined by the Calculation Agent by applying
the following formula on the applicable FX Valuation Date:
KZT 95,000 divided by FX Rate (as defined in
Term 16(vii) below),
subject to Definitions and Disruption Provisions in Term
16(vii) below.
(vi) Day Count Fraction:
Actual / Actual (ICMA)
(vii) Definitions and Disruption
Disruption provisions:
Provisions:
If, in respect of an FX Valuation Date, a Price Source
Disruption has occurred or exists in respect of the FX Rate,
the Calculation Agent shall obtain the FX Rate for the FX
Valuation Date by applying the provisions of the following



fallbacks in the order below:
(i)
Valuation Postponement;
(ii) Dealer Poll (provided the FX Rate cannot be
determined in accordance with (i) above); and
(iii) Calculation Agent Determination of FX Rate (provided
that the FX Rate cannot be determined in accordance
with (i) or (ii) above).
In the event that FX Valuation Date is postponed beyond the
Scheduled FX Valuation Date due to an Unscheduled
Holiday or because a Price Source Disruption in respect of
the FX Rate has occurred, each Interest Payment Date, the
Early Redemption Date or the Maturity Date, as applicable,
shall be postponed by each day for which the relevant FX
Valuation Date, is so postponed.
For the avoidance of doubt, no additional interest or other
additional amounts shall be payable by IBRD in the event
that the relevant Interest Payment Date, the Early
Redemption Date or the Maturity Date is postponed.
Cumulative Events:
Notwithstanding anything herein to the contrary, in no event
shall the total number of consecutive calendar days during
which either (i) FX Valuation Date is postponed due to an
Unscheduled Holiday, or (ii) a Valuation Postponement shall
occur (or any combination of (i) and (ii)), exceed 14
consecutive calendar 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 that otherwise would have been a
Business Day, then such day shall be deemed to be an FX
Valuation Date, and (y) if, upon the lapse of any such 14 day
period, a Price Source Disruption shall have occurred or be
continuing on the day following such period, then Valuation
Postponement shall not apply and the FX Rate shall be
determined in accordance with the next Disruption Fallback.
Definitions:
The following definitions shall apply:
"Almaty Business Day" means, a day on which commercial
banks and foreign exchange markets settle payments and are
open for general business (including dealings in foreign
exchange and foreign currency deposits) in Almaty.
"Business Day" means a day on which commercial banks
and foreign exchange markets settle payments and are open
for general business (including dealings in foreign exchange
and foreign currency deposits) in Almaty, London and New
York.
"Calculation Agent" means JPMorgan Chase Bank N.A.,
London Branch, or its duly appointed successor.
"Calculation Agent Determination of FX Rate" means, in
respect of the FX Valuation Date, if the Calculation Agent



cannot determine a relevant rate in accordance with the
provisions of Valuation Postponement or Dealer Poll, the
Calculation Agent shall determine the FX Rate on the
relevant FX Valuation Date, acting in good faith and in a
commercially reasonable manner having taken into account
relevant market practice and any information which it deems
relevant.
"Dealer Poll" means, in respect of the FX Valuation Date, if
the Calculation Agent cannot determine a relevant rate in
accordance with the provisions of Valuation Postponement,
the Calculation Agent shall determine the FX Rate for the
relevant FX Valuation Date by requesting each of the
Reference Dealers to provide a quotation of the KZT/USD
spot rate at or about 11:00 a.m., Almaty time, on such FX
Valuation Date.
(A) If at least two quotations are provided, the FX Rate
will be the arithmetic mean of the quotations
(rounded to the nearest four decimal points, with
0.00005 per cent. being rounded up) of the rates so
quoted. Copies of all quotes obtained by the
Calculation Agent will be provided by the
Calculation Agent to the Issuer upon request; or
(B) if fewer than two (2) Reference Dealers provide a
quotation as set forth above for the relevant FX
Valuation Date, the FX Rate will be determined by
the Calculation Agent for such FX Valuation Date in
good faith and in a commercially reasonable manner,
having taken into account relevant market practice.
If the Calculation Agent cannot determine the FX Rate in
accordance with Dealer Poll, the Calculation Agent shall
determine the FX Rate in accordance with Calculation Agent
Determination of FX Rate.
"Early Redemption Date" means the day on which the
Notes become due and payable in accordance with Condition
9 (Default) subject to postponement in accordance with item
16(vii) above whereupon the relevant Interest Payment Date
shall be the date five Business Days following the relevant
FX Valuation Date.
"FX Rate" means, in respect of the relevant FX Valuation
Date, the KZT/USD weighted average rate, expressed as the
amount of KZT per USD 1.00, for settlement in one Business
Day, reported by the Kazakhstan Stock Exchange
(http://www.kase.kz), as it appears on Reuters Screen
USDKZTTOMWA=KZ at approximately 11:00 a.m. (Almaty
time) on such FX Valuation Date ("KZT01").
In the event the Reuters Screen USDKZTTOMWA=KZ (or
any successor page) no longer reports such rate or is no
longer available and has not been replaced by any other page
or service, which has been obtained by the Calculation Agent
from any other screen or information source that it deems
appropriate in good faith and in a commercially reasonable
manner on such FX Valuation Date.



If Annex A to the 1998 FX and Currency Option Definitions
published by the International Swaps and Derivatives
Association, Inc., the Emerging Markets Traders Association
and the Foreign Exchange Committee (the "FX Definitions")
is amended such that KZT01 is replaced by a successor price
source for the KZT/USD exchange rate in such Annex A to
the FX Definitions (the "Successor Price Source
Definition"), then the FX Rate will be determined in
accordance with such Successor Price Source Definition.
"FX Valuation Date" means, in respect of an Interest
Payment Date, Early Redemption Date or Maturity Date, as
applicable, the date that is five Business Days before such
Interest Payment Date, Early Redemption Date or Maturity
Date, as applicable (the "Scheduled FX Valuation Date"),
provided that if the Scheduled FX Valuation Date is an
Unscheduled Holiday, the FX Valuation Date shall be
postponed to the first following Business Day, which is not
an Unscheduled Holiday. In the event the Scheduled FX
Valuation Date is so postponed due to an Unscheduled
Holiday and if the FX Valuation Date has not occurred on or
before the number of calendar days equal to the Maximum
Days of Postponement after the Scheduled FX Valuation
Date (any such period being a "Deferral Period"), then the
next day after the Deferral Period that would have been a
Business Day but for the Unscheduled Holiday shall be
deemed to be the FX Valuation Date.
"Maximum Days of Postponement" means 14 calendar
days.
"Price Source Disruption" means the occurrence or
existence of an event on an FX Valuation Date, the result or
consequence of which is that it is impossible or
impracticable, in the opinion of the Calculation Agent, to
obtain the FX Rate on such day.
"Reference Dealers" means four leading dealers or banks
active in the KZT/USD exchange market selected by the
Calculation Agent in its sole discretion.
"Reuters Screen" means, when used in connection with any
designated page, the display page so designated on the
Reuters service, or (i) any successor display page, other
published source, information vendor or provider that has
been officially designated by the sponsor of the original page
or source; or (ii) if the sponsor has not officially designated a
successor display page, another published source, service or
provider (as the case may be), the successor display page,
other published source, service or provider, if any, designated
by the relevant information vendor or provider (if different
from the sponsor).
"Unscheduled Holiday" means a day that is not an Almaty
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. local time in Almaty, two Almaty Business Days prior to



such day.
"Valuation Postponement" means, in respect of the FX
Valuation Date, if a Price Source Disruption has occurred or
exists in respect of the FX Rate on an FX Valuation Date, the
Calculation Agent shall determine the FX Rate on the next
succeeding Business Day on which, in the opinion of the
Calculation Agent, such Price Source Disruption has not
occurred unless the Price Source Disruption continues to
exist (measured from the date that, but for the occurrence of
the Price Source Disruption, or Unscheduled Holiday would
have been the Scheduled FX Valuation Date) for a
consecutive number of calendar days equal to the Maximum
Days of Postponement, in which case the Calculation Agent
shall determine the FX Rate on the next succeeding Business
Day after the Maximum Days of Postponement (which will
be deemed to be the applicable FX Valuation Date) in
accordance with Dealer Poll.
PROVISIONS RELATING TO REDEMPTION
17. Final Redemption Amount of each
The Final Redemption Amount per Calculation Amount shall
Note (Condition 6):
be determined by the Calculation Agent by applying the
following formula:
Calculation Amount divided by FX Rate (as
defined in Term 16(vii) above),
subject to Definitions and Disruption Provisions in Term
16(vii) above.
18. Early Redemption Amount
The Final Redemption Amount of the Notes, as determined
(Condition 6(c)):
in accordance with Term 17 above (provided that the FX
Valuation Date shall be the FX Valuation Date in respect of
the Early Redemption Date) plus accrued and unpaid interest,
if any, as determined in accordance with Term 16 above,
provided that for the purposes of such determination, the
relevant Interest Period Dates shall be the period
commencing on, and including, the Interest Payment Date
falling immediately prior to the date upon which the Notes
become due and payable (or, if no interest has yet been paid,
the Issue Date) to, but excluding, the date upon which the
Notes become due and payable.
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 (NGN):
No
21. Financial Centre(s) or other special Almaty, London and New York
provisions relating to payment
dates (Condition 7(h)):
22. Governing law (Condition 14):
English
23. Other final terms:
The first sentence of Condition 7(a)(ii) is hereby replaced by
the following: "Interest (which for the purpose of this
Condition 7(a) shall include all Instalment Amounts other
than final Instalment Amounts) on Registered Notes shall be



paid to the person shown on the Register at the close of
business on the calendar day before the due date for payment
thereof (the "Record Date").
24. Additional risk factors:
An investment in the Notes is subject to the risks
described below, as well as the risks described under
"Risk Factors" in the accompanying Prospectus.
Because the Notes are denominated in KZT but payable in
USD, the Noteholders will be exposed to currency exchange
rate risks with respect to such currencies. Changes in
exchange rates relating to any of the currencies involved may
result in a decrease in the effective yield of the Notes and, in
certain circumstances, could result in a loss of all or a
substantial portion of the principal of the Notes (including
the Final Redemption Amount). For example, if, on any FX
Valuation Date, KZT has appreciated in value against USD,
the payment in USD will be higher. Conversely, a
depreciation in value of KZT against USD will have the
opposite impact. Furthermore, since the Noteholders will
receive payments on the Notes only on the Maturity Date, the
Noteholders will not benefit from favorable changes in
exchange rates at any other time during the term of the
Notes.
Exchange rate movements for a particular currency are
volatile and are the result of numerous factors. A
Noteholder's net exposure will depend on the extent to which
the payment currency (USD) strengthens or weakens against
the denominated currency (KZT).
In addition, the Noteholders whose financial activities are
denominated principally in a currency (the "Investor's
Currency") other than any of the Specified Currencies, will
also be exposed to currency exchange rate risk that are not
associated with a similar investment in a security
denominated or paid in that Investor's Currency. For more
information, please see "Risk FactorsNotes are subject to
exchange rate and exchange control risks if the investor's
currency is different from the Specified Currency" in the
accompanying Prospectus.
DISTRIBUTION
25. (i) If syndicated, names of
Not Applicable
Managers and underwriting
commitments:
(ii) Stabilizing Manager(s) (if
Not Applicable
any):
26. If non-syndicated, name and
J.P. Morgan Securities plc
address of Dealer:
25 Bank Street
Canary Wharf
London E14 5JP
United Kingdom
27. Total commission and concession:
Not Applicable
28. Additional selling restrictions:
Not Applicable



29. MiFID II product governance /
Directive 2014/65/EU (as amended, "MiFID II") product
Retail investors, professional
governance / Retail investors, professional investors and
investors and ECPs target
eligible counterparties ("ECPs") target market: Solely for
markets:
the purposes of the 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, professional clients and retail clients,
each as defined in MiFID II; and (ii) all channels for
distribution of the Notes are appropriate. Any person
subsequently offering, selling or recommending the Notes (a
"distributor") should take into consideration the
manufacturer's 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 manufacturer's target market
assessment) and determining appropriate distribution
channels.
IBRD does not fall under the scope of application of the
MiFID II package. Consequently, IBRD does not qualify as
an "investment firm", "manufacturer" or "distributor" for the
purposes of MiFID II.
For the purposes of this provision, the expression
"manufacturer" means the Dealer.
OPERATIONAL INFORMATION
30. ISIN Code:
XS1890072488
31. Common Code:
189007248
32. Delivery:
Delivery against payment
33. Registrar and Transfer Agent (if
Citibank, N.A., London Branch
any):
34. Intended to be held in a manner
No
which would allow Eurosystem
eligibility:
GENERAL INFORMATION
IBRD's most recent Information Statement was issued on 17 September 2018.
USE OF PROCEEDS
Supporting sustainable development in IBRD's member countries
The net proceeds from the sale of the Notes will be used by IBRD to finance sustainable development
projects and programs in IBRD's member countries (without being committed or earmarked for lending to,
or financing of, any particular projects or programs). IBRD's financing is made available solely to middle-
income and creditworthy lower-income member countries who are working in partnership with IBRD to
eliminate extreme poverty and boost shared prosperity, so that they can achieve equitable and sustainable
economic growth in their national economies and find sustainable solutions to pressing regional and global
economic and environmental problems. Projects and programs supported by IBRD are designed to achieve
a positive social impact and undergo a rigorous review and internal approval process aimed at safeguarding
equitable and sustainable economic growth.



IBRD integrates five cross cutting themes into its lending activities helping its borrowing members create
sustainable development solutions: climate change; gender; jobs; public-private partnerships; and fragility,
conflict and violence.
IBRD's administrative and operating expenses are covered entirely by IBRD's various sources of revenue
(net income) consisting primarily of interest margin, equity contribution and investment income (as more
fully described in the Information Statement).
CONFLICT OF INTEREST
JPMorgan Chase Bank N.A., London Branch will be Calculation Agent under the Notes and will also be
IBRD's counterparty and calculation agent 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
JPMorgan Chase Bank N.A., London Branch creates possible conflicts of interest. For example, the
amounts payable by JPMorgan Chase Bank N.A., London Branch 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 JPMorgan Chase Bank N.A., London
Branch in its discretion as Calculation Agent for the Notes may affect the amounts payable by JPMorgan
Chase Bank N.A., London Branch under the related swap transaction, and, in making such determinations,
JPMorgan Chase Bank N.A., London Branch may have economic interests adverse to those of the
Noteholders. The Noteholder understands that although IBRD will enter into the related swap transaction
with JPMorgan Chase Bank N.A., London Branch 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:
...........................................................

Duly authorised