Bond Africa Development Bank 6.52% ( XS2306834339 ) in ZAR

Africa Development Bank

100 % ▲

Côte d'Ivoire

XS2306834339 ( in ZAR )

6.52% per year ( payment 1 time a year)

24/02/2028

Prospectus brochure of the bond African Development Bank XS2306834339 en ZAR 6.52%, maturity 24/02/2028

5 000 000 ZAR

435 000 000 ZAR

24/02/2026 ( In 111 days )

The African Development Bank (AfDB) is a multilateral development finance institution that provides loans and grants to African countries for projects aimed at economic and social development.

The Bond issued by Africa Development Bank ( Côte d'Ivoire ) , in ZAR, with the ISIN code XS2306834339, pays a coupon of 6.52% per year.
The coupons are paid 1 time per year and the Bond maturity is 24/02/2028

Pricing Supplement dated 22 February 2021
AFRICAN DEVELOPMENT BANK
Global Debt Issuance Facility
for issues of Notes with maturities of one day or longer
Issue of ZAR 435,000,000 6.52 per cent. Fixed Rate Notes due 24 February 2028 (the "Notes")

This document constitutes the Pricing Supplement relating to the issue of Notes described herein. This Pricing
Supplement constitutes Final Terms for the purposes of listing and trading Notes on the Regulated Market of
the Luxembourg Stock Exchange. Terms used herein shall be deemed to be defined as such for the purposes
of the Conditions set forth in the Information Memorandum dated 8 September 2009, as supplemented by the
supplemental Information Memorandum dated 16 January 2017 (as so supplemented, the Information
Memorandum). This Pricing Supplement contains the final terms of the Notes and must be read in conjunction
with such Information Memorandum as so supplemented.
1.
Issuer:
African Development Bank
2.
(i)
Series Number:
982
(ii) Tranche Number:
1
3.
Specified Currency or Currencies:
South African Rand ("ZAR")
4.
Aggregate Nominal Amount:

(i)
Series:
ZAR 435,000,000
(ii)
Tranche:
ZAR 435,000,000
5.
(i)
Issue Price:
100.00 per cent. of the Aggregate Nominal Amount
(ii)
Net proceeds:
ZAR 435,000,000
6.
Specified Denominations:
ZAR 5,000,000
7.
(i)
Issue Date:
24 February 2021
(ii)
Interest Commencement Date:
Issue Date
8.
Maturity Date:
24 February 2028
9.
Interest Basis:
6.52 per cent. Fixed Rate
(further particulars specified below)
10.
Redemption/Payment Basis:
Redemption at par
11.
Change of Interest or Redemption/Payment Not Applicable
Basis:
12.
Put/Call Options:
Not Applicable
13.
Status of the Notes:
Senior
1

14.
Listing and Trading:
The regulated market of the Luxembourg Stock
Exchange for the purposes of Directive 2004/39/EC
on Markets in Financial Instruments
15.
Method of distribution:
Non-syndicated
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
16.
Fixed Rate Note Provisions
Applicable
(i)
Rate(s) of Interest:
6.52 per cent. per annum payable annually in arrear
(ii)
Interest Payment Date(s):
The
first
Interest
Payment
Date
is
24
February
2022.
Each
subsequent
Interest
Payment
Date
is
on
the
24th
day
of
February in each year, and the final Interest
Payment Date will fall on the Maturity
Date, subject to adjustment in accordance with the
Modified Following Business Day Convention
(iii)
Fixed Coupon Amount(s):
Not Applicable
(iv)
Broken Amount(s):
Not Applicable
(v)
Day Count Fraction:
ACT/ACT ICMA, Unadjusted
(vi)
Determination Date(s):
Not Applicable
(vii)
Other terms relating to the method of Not Applicable
calculating interest for Fixed Rate
Notes:
17.
Floating Rate Note Provisions
Not Applicable
18.
Zero Coupon Note Provisions
Not Applicable
19.
Index-Linked Interest Note Provisions
Not Applicable
20.
Dual Currency Interest Note Provisions
Not Applicable
21.
Variable Coupon Amount Notes
Not Applicable
PROVISIONS RELATING TO REDEMPTION
22.
Call Option
Not Applicable
23.
Put Option
Not Applicable
24.
Final Redemption Amount of each Note
Par
25.
Early Redemption Amount

Early Redemption Amount(s) of each Note As set out in the Conditions
payable on event of default and/or the
method of calculating the same (if required
2

or if different from that set out in the
Conditions):
26.
Variable Redemption Amount Notes
Not Applicable
GENERAL PROVISIONS APPLICABLE TO THE NOTES
27.
(a)
Form of Notes:

Bearer Notes:
Not Applicable

Registered Notes:
Applicable
Registrar and Transfer Agents
Registrar

Citibank, N.A., Citigroup Centre, Canary Wharf,
London E14 5LB
Transfer Agent
Dexia Banque Internationale à Luxembourg, société
anonyme, 69 route d'Esch, L-2953 Luxembourg
(i) DTC Application
No
(ii) Australian Domestic Notes:
No
(b)
New Global Note:
No
28.
Relevant Financial Centre(s) or other
special provisions relating to payment dates: London, New York, Johannesburg
Notwithstanding Condition 6, if any date for the
payment of any amount due (whether in respect of
principal, interest or otherwise) in respect of the
Notes is not a Business Day, the holder shall not be
entitled to payment until the next following Business
Day unless such day falls in the next calendar month
in which case such date will be the first preceding
day that is a Business Day and the holder shall not
be entitled to payment of any interest or other sum in
respect of such postponed payment.
29.
Talons for future Coupons to be attached to No
Definitive Bearer Notes (and dates on which
such Talons mature):
30.
Details relating to Partly Paid Notes: amount Not Applicable
of each payment comprising the Issue Price
and date on which each payment is to be
made and consequences (if any) of failure to
pay, including any right of the Issuer to
forfeit the Notes and interest due on late
payment:
3

31.
Details relating to Instalment Notes: Not Applicable
Instalment Amount, date on which each
payment is to be made (Instalment Date):
32.
Redenomination,
renominalisation
and Not Applicable
reconventioning provisions:
33.
Consolidation provisions:
Not Applicable
34.
Other terms or special conditions:
Not Applicable
35.
Governing law:
English
DISTRIBUTION
36.
(i)
If syndicated, names of Managers:
Not Applicable
(ii)
Stabilising Manager (if any):
Not Applicable
37.
If non-syndicated, name of Dealer:
Crédit Agricole Corporate and Investment Bank
38.
Additional selling restrictions:
Not Applicable
OPERATIONAL INFORMATION
39.
ISIN Code:
XS2306834339
40.
Common Code:
230683433
41.
Any clearing system(s) other than Euroclear Not Applicable
and Clearstream, Luxembourg and the
relevant identification number(s):
42.
Delivery:
Delivery against payment
43.
Changes to the Agent(s) (if any):
Not Applicable
44.
Applicable TEFRA Rules:
Not Applicable
45.
Additional United States Federal Income Not Applicable
Tax Consequences:
46.
Intended to be held in a manner that would No
allow Eurosystem eligibility:

LISTING APPLICATION
This Pricing Supplement comprises the final terms required for issue and admission to trading on the Regulated
Market of the Luxembourg Stock Exchange and admission to trading on the Official List of the Luxembourg
Stock Exchange of the Notes described herein pursuant to the Global Debt Issuance Facility of the African
Development Bank.

4

NO MATERIAL ADVERSE CHANGE
There has been no material adverse change in the financial position of the Issuer since 31 December 2019.
AUDITORS
The annual accounts of the Issuer for the financial years ended 31 December 2018 and 31 December 2019
have been audited by Deloitte & Associés.
RESPONSIBILITY
The Issuer accepts responsibility for the information contained in this Pricing Supplement.

Signed on behalf of African Development Bank:

By: __________________________________________
Duly Authorised

5