Bond IBRD-Global 0% ( XS2238533231 ) in ZAR

IBRD-Global

100 % ⇌

United States

XS2238533231 ( in ZAR )

28/09/2040

Prospectus brochure of the bond IBRD XS2238533231 en ZAR 0%, maturity 28/09/2040

10 000 ZAR

1 000 000 000 ZAR

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 International Bank for Reconstruction and Development (IBRD) issued a USD 1,000,000,000 zero-coupon bond (ISIN: XS2238533231) denominated in South African Rand (ZAR), maturing on September 28, 2040, with a minimum trading size of ZAR 10,000 and currently trading at 100% of face value, paying interest annually.

Final Terms dated 23 September 2020

International Bank for Reconstruction and Development
Issue of ZAR 1,000,000,000 Zero Coupon Notes due 28 September2040

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.
MiFID product governance / Retail investors, professional investors and ECPs target
markets See Term 28 below
SUMMARY OF THE NOTES
1. Issuer:
International Bank for Reconstruction and Development
("IBRD")
2. (i) Series Number:
101220
(ii) Tranche Number:
1
3. Specified Currency or Currencies
South African Rand ("ZAR")
(Condition 1(d)):
4. Aggregate Nominal Amount:

(i) Series:
ZAR 1,000,000,000
(ii) Tranche:
ZAR 1,000,000,000
5. (i) Issue Price:
20.00 per cent. of the Aggregate Nominal Amount
(ii) Net proceeds:
ZAR 200,000,000
6. Specified Denominations
ZAR 10,000
(Condition 1(b)):
7. Issue Date:
28 September 2020
8. Maturity Date (Condition 6(a)):
28 September 2040
9. Interest Basis (Condition 5):
Zero Coupon
(further particulars specified below)
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. Zero Coupon Note Provisions
Applicable
(Condition 5(c)):
(i) Amortization Yield
8.38 per cent. per annum

(Condition 6(c)):
(ii) Day Count Fraction
Actual/Actual (ICMA)

(Condition 5(l)):
(iii) Any other formula/basis of
Not Applicable

determining amount payable:
PROVISIONS RELATING TO REDEMPTION
17. Final Redemption Amount of each
ZAR 10,000 per Specified Denomination
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 special
Johannesburg, London and New York
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 any):
Not Applicable
25. If non-syndicated, name of Dealer:
Deutsche Bank AG, London Branch
26. Total commission and concession:
Not Applicable
27. Additional selling restrictions:
Not Applicable
28. MiFID II product governance / Retail Directive 2014/65/EU (as amended, "MiFID II")
investors, professional investors and
product governance / Retail investors, professional
ECPs target markets:
investors and eligible counterparties ("ECPs") target
market: Solely for 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 to eligible counterparties, professional clients and
retail clients 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.
For the purposes of this provision, the term
"manufacturer" means the Dealer.
OPERATIONAL INFORMATION

29. ISIN Code:
XS2238533231
30. Common Code:
223853323
31. Delivery:
Delivery against payment
32. Registrar and Transfer Agent (if any): Citibank, N.A., London Branch
33. Intended to be held in a manner which No
would allow Eurosystem eligibility:
GENERAL INFORMATION
IBRD's most recent Information Statement was issued on 24 September 2019.
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). Prior to use, the net
proceeds will be invested by IBRD's Treasury in accordance with IBRD's liquid asset
management investment policies. 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 the following five global themes into its lending activities helping its borrowing
members create sustainable development solutions: climate change; gender; infrastructure, public-
private partnerships and guarantees; knowledge management, 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).
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