Bond IBRD-Global 0.2% ( XS2809237378 ) in NOK

IBRD-Global

100 % ⇌

United States

XS2809237378 ( in NOK )

0.2% per year ( payment 1 time a year)

26/10/2029

Prospectus brochure of the bond IBRD XS2809237378 en NOK 0.2%, maturity 26/10/2029

26/10/2025 ( In 116 days )

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 NOK, with the ISIN code XS2809237378, pays a coupon of 0.2% per year.
The coupons are paid 1 time per year and the Bond maturity is 26/10/2029

Final Terms dated 23 April 2024

International Bank for Reconstruction and Development

Issue of NOK 3,000,000,000 Floating Rate Notes due 26 October 2029
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 24 September 2021. 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
market See Term 29 below.

SUMMARY OF THE NOTES
1. Issuer:
International Bank for Reconstruction and
Development ("IBRD")
2. (i)
Series number:
101962
(ii)
Tranche number:
1
3. Specified Currency or Currencies
Norwegian Krone ("NOK")
(Condition 1(d)):
4. Aggregate Nominal Amount

(i)
Series:
NOK 3,000,000,000
(ii)
Tranche:
NOK 3,000,000,000
5. (i)
Issue Price:
100 per cent. of the Aggregate Nominal Amount
(ii)
Net proceeds:
NOK 3,000,000,000
6. Specified Denominations
NOK 10,000
(Condition 1(b)):
7. Issue Date:
26 April 2024
8. Maturity Date (Condition 6(a)):
The Specified Interest Payment Date falling in
October 2029
9. Interest basis (Condition 5):
Floating Rate
(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

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PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
16. Floating Rate Note provisions
Applicable
(Condition 5(b)):
(i)
Interest Period(s):
As specified in Condition 5(l)
(ii)
Specified Interest
26 January, 26 April, 26 July, 26 October of each year,
Payment Dates:
from and including 26 July 2024 to and including 26
October 2029, subject to adjustment in accordance
with the Business Day Convention specified below.
(iii)
Interest Period Date(s):
Each Specified Interest Payment Date
(iv)
Business Day
Following Business Day Convention
Convention:
(v)
Business Centre(s)
London, New York and Oslo
(Condition 5(l)):
(vi)
Manner in which the
ISDA Determination
Rate(s) of Interest is/are
to be determined:
(vii)
Party responsible for
Calculation Agent
calculating the Rate(s) of
Interest and Interest
Amount(s):
(viii)
ISDA Determination

(Condition 5(b)(ii)(B)):

- ISDA Definitions:
2021
- Floating Rate Option:
NOK-NIBOR
- Designated Maturity:
3 months
- Reset Date:
First day of each Interest Accrual Period
(ix)
Margin(s):
Plus 0.19 per cent. per annum
(x)
Minimum Rate of
0.00 per cent. per annum
Interest:
(xi)
Maximum Rate of
Not Applicable
Interest:
(xii)
Day Count Fraction
Actual/360
(Condition 5(l)):
(xiii)
Fall back provisions,
- References to "Swap Transaction" in Condition
rounding provisions,
5(b)(ii)(B) shall be deleted and replaced with
denominator and any
"Transaction".
other terms relating to the
- References to "Confirmation" in the ISDA
method of calculating
Definitions shall be read as to these Final Terms.
interest on Floating Rate
Notes, if different from
- The term "Floating Rate Day Count Fraction" in
those set out in the
the ISDA Definitions shall have the same meaning
Conditions:
as Day Count Fraction (see Term 16(xii) above).
- The reference to "Calculation Agent Alternative
Rate
Determination"
in
the
definition
of
"Temporary
Non-Publication
Fallback

Alternative Rate" shall be replaced by a
determination using the rate that applies to the
swap transaction entered into in connection with

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the issue of the Notes between IBRD and the
relevant swap counterparty (the "Associated Swap
Transaction") (the "Swap Rate"). If there are two
or more Associated Swap Transactions, the Swap
Rate will be the average, weighted by the relative
size of the notional amounts of such Associated
Swap Transactions, (rounded to the nearest four
decimal points, with 0.00005 being rounded up) of
the Swap Rates of such Associated Swap
Transactions. Such Swap Rate shall be notified to
the Calculation Agent by IBRD no later than five
(5) Business Days following the Reset Date under
the Associated Swap Transaction or, if there are
two or more Associated Swap Transactions,
following the latest of the Reset Dates under the
Associated Swap Transactions.
- "Administrator/Benchmark Event" shall occur
upon
the
occurrence
of
an
Administrator/Benchmark Event pursuant to the
Associated Swap Transaction and for such
purposes the Administrator/Benchmark Date shall
be the Administrator/Benchmark Date pursuant to
the Associated Swap Transaction. IBRD shall
inform the Calculation Agent of the occurrence of
an Administrator/Benchmark Event no later than
five (5) Business Days following it first becoming
aware of the Administrator/Benchmark Event
under the Associated Swap Transaction.
- In any circumstances where under the ISDA
Definitions the Calculation Agent would be
required to exercise any discretion, including but
not limited to the selection of any reference banks,
seeking
quotations
from
reference
banks,
determining a commercially reasonable alternative
for the Applicable Benchmark or making
adjustments to the relevant fallback rates per the
ISDA Definitions, the relevant determination(s)
which require the Calculation Agent to exercise its
discretion shall instead be made by IBRD in
accordance
with
the
Conditions.
Any
determination, decision or election that may be
made by IBRD pursuant to this Term 16 will be
conclusive and binding, will be made in the sole
discretion
of
IBRD
(taking
into
account
considerations of what is commercially reasonable
in light of the Associated Swap Transaction(s)),
and shall become effective without consent from
the holders of the Notes or any other party.
- All capitalized terms that are not defined in this
Term 16 or the Conditions shall have the meanings
given to them in the ISDA Definitions.

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PROVISIONS RELATING TO REDEMPTION
17. Final Redemption Amount of
NOK 10,000 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 / New
No
Safekeeping Structure:
21. Financial Centre(s) or other
London, New York and Oslo
special provisions relating to
payment dates (Condition 7(h)):
22. Governing law (Condition 14):
English
23. Other final terms:
Not Applicable
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.
Uncertainty about the future of NIBOR may
adversely affect the Rate of Interest and therefore
the return on, and the value of, the Notes.
Reference rates and indices, including interest rate
benchmarks, such as the Norwegian Interbank Offered
Rate ("NIBOR"), which are used to determine the
amounts payable under financial instruments or the
value of such financial instruments ("Benchmarks"),
have been the subject of political and regulatory
scrutiny as to how they are created and operated. This
has resulted in regulatory reform and changes to
existing
Benchmarks,
with
further
changes
anticipated. These reforms and changes may cause a
Benchmark to perform differently than it has done in
the past or to be discontinued. Any change in the
performance of a Benchmark or its discontinuation,
could have a material adverse effect on any Notes
referencing or linked to such Benchmark.
Changes to the administration of a Benchmark or the
emergence of alternatives to a Benchmark, may cause
such Benchmark to perform differently than in the
past, or there could be other consequences which
cannot be predicted. The discontinuation of a
Benchmark or changes to its administration could
require changes to the way in which the Rate of
Interest is calculated in respect of any Notes
referencing or linked to such Benchmark. The
development of alternatives to a Benchmark may
result in Notes linked to or referencing such
Benchmark performing differently than would
otherwise have been the case if the alternatives to
such Benchmark had not developed. Any such

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consequence could have a material adverse effect on
the value of, and return on, any Notes linked to or
referencing such Benchmark.
To the extent the NIBOR rate is discontinued
following any reforms to NIBOR, the applicable rate
and any adjustment spread applied thereto used to
calculate the Rate of Interest on these Notes will be
determined using the Permanent Cessation Fallbacks
for NIBOR set out in the ISDA Definitions (which
include a published term adjusted NOWA and rates
recommended by the Norwegian central bank or
similar authority, in each case plus a spread).
Any of these alternative methods may result in interest
payments that are lower than or do not otherwise
correlate over time with the payments that would have
been made on the Notes if the NOK-NIBOR rate had
been available in its current form.
With respect to the Temporary Non-Publication
Fallback for NIBOR, the final alternative method sets
the interest rate for an interest period using the Swap
Rate as determined in accordance with Term 16(xiii).
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 of
Nordea Bank Abp
Dealer:
27. Total commission and concession: Not Applicable
28. Additional selling restrictions:
Norway
The Notes shall not be offered or sold, directly or
indirectly, in the Kingdom of Norway or to residents
of the Kingdom of Norway and the Prospectus or any
other offering material relating to the Notes shall not
be distributed in or from the Kingdom of Norway
other than to Norwegian entities with permission from
the Norwegian authorities to conduct investment
services.
29. MiFID II product governance /
Directive 2014/65/EU (as amended, "MiFID II")
Retail investors, professional
product governance / Retail investors, professional
investors and ECPs target market:
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 ECPs, 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;

5

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 Term 29, "manufacturer"
means the Dealer.
IBRD does not fall under the scope of application of
MiFID II. Consequently, IBRD does not qualify as an
"investment firm", "manufacturer" or "distributor" for
the purposes of MiFID II.
OPERATIONAL INFORMATION
30. Legal Entity Identifier of Issuer:
ZTMSNXROF84AHWJNKQ93
31. ISIN Code:
XS2809237378
32. Common Code:
280923737
33. Delivery:
Delivery versus payment
34. Registrar and Transfer Agent (if
Citibank, N.A., London Branch
any):
35. Intended to be held in a manner
No. Whilst the designation is specified as "no" at the
which would allow Eurosystem
date of these Final Terms, should the Eurosystem
eligibility:
eligibility criteria be amended in the future such that
the Notes are capable of meeting them the Notes may
then be deposited with one of the ICSDs as common
safekeeper and registered in the name of a nominee of
one of the ICSDs acting as common safekeeper. Note
that this does not necessarily mean that the Notes will
then be recognized as eligible collateral for
Eurosystem monetary policy and intra-day credit
operations by the Eurosystem at any time during their
life. Such recognition will depend upon the ECB
being satisfied that Eurosystem eligibility criteria have
been met.
GENERAL INFORMATION
IBRD's most recent Information Statement was issued on 2 October 2023.
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.

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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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