Obbligazione IBRD-Global 9.1% ( XS2243341760 ) in KZT

Emittente IBRD-Global
Prezzo di mercato 100 KZT  ⇌ 
Paese  Stati Uniti
Codice isin  XS2243341760 ( in KZT )
Tasso d'interesse 9.1% per anno ( pagato 1 volta l'anno)
Scadenza 14/10/2022 - Obbligazione è scaduto



Prospetto opuscolo dell'obbligazione IBRD XS2243341760 in KZT 9.1%, scaduta


Importo minimo 100 KZT
Importo totale 21 500 000 000 KZT
Descrizione dettagliata La Banca Internazionale per la Ricostruzione e lo Sviluppo (IBRD), parte del Gruppo Banca Mondiale, fornisce prestiti a tassi agevolati a paesi a medio reddito per progetti di sviluppo.

The Obbligazione issued by IBRD-Global ( United States ) , in KZT, with the ISIN code XS2243341760, pays a coupon of 9.1% per year.
The coupons are paid 1 time per year and the Obbligazione maturity is 14/10/2022







Final Terms dated 9 October 2020

International Bank for Reconstruction and Development

Issue of KZT 21,500,000,000 9.10 per cent. Notes due 14 October 2022
payable in United States Dollars

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:
101225
(ii) Tranche Number:
1
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 21,500,000,000
(ii) Tranche:
KZT 21,500,000,000
5. (i) Issue Price:
100.00 per cent. of the Aggregate Nominal Amount
(ii) Net Proceeds:
USD 50,116,550.17 (equivalent to KZT 21,500,000,000 at
the KZT/USD exchange rate of KZT 429 per USD 1.00)
6. Specified Denominations
KZT 1,000,000
(Condition 1(b)):
7. Issue Date:
14 October 2020
8. Maturity Date (Condition 6(a)):
14 October 2022, 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):
9.10 per cent. Fixed Rate
(further particulars specified below)

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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:
9.10 per cent. per annum payable in arrear
(ii) Interest Payment Date(s):
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:
14 October 2022, not subject to adjustment in accordance
with a Business Day Convention.
(iv) Business Day Convention:
Not Applicable
(v) Day Count Fraction:
30/360
(vi) Interest Amount:
The Interest Amount payable per Specified Denomination on
the Interest Payment Date will be an amount in USD
determined by the Calculation Agent on the relevant FX
Valuation Date equal to the product of:
(a) the Specified Denomination multiplied by the Rate
of Interest;
(b) 1 divided by the FX Rate on such FX Valuation Date
(as defined in Term 16(vii) below); and
(c) the Day Count Fraction.
(vii) Disruption Provisions and
Disruption Provisions:
Definitions:
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 such FX
Valuation Date by applying the provisions of the following
fallbacks (the "Disruption Fallbacks") in the order below:


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(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 an FX Valuation Date is postponed beyond
the relevant Scheduled FX Valuation Date due to an
Unscheduled Holiday or because a Price Source Disruption
in respect of the FX Rate has occurred, the 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 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) an 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 (other than a Saturday
or a Sunday) 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 (other than a Saturday or a
Sunday) 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 Citibank, N.A., London Branch,
or its duly appointed successor.


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"Calculation Agent Determination of FX Rate" means, in
respect of an 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 an 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 5:00 p.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 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 in accordance with the
Calculation Agent Determination of the FX Rate.
The Calculation Agent shall notify the Issuer as soon as
reasonably practicable that the FX Rate is to be so
determined.
"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 this
Term 16(vii) whereupon the Early Redemption 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
(www.kase.kz) at approximately 5:00 p.m. (Almaty time) on
such FX Valuation Date ("KZT01").
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

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Definition"), then the FX Rate will be determined in
accordance with such Successor Price Source Definition.
"FX Valuation Date" means, in respect of the Interest
Payment Date, the Early Redemption Date or the 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 is a Business Day, or
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.
"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 an FX
Valuation Date, if a Price Source Disruption has occurred or
exists in respect of the FX Rate on such 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 or ceased to exist, 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

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Valuation Date) in accordance with the next applicable
Disruption Fallback.
PROVISIONS RELATING TO REDEMPTION
17. Final Redemption Amount of each
The Final Redemption Amount per Specified Denomination
Note (Condition 6):
will be payable in USD on the Maturity Date and shall be
determined by the Calculation Agent by applying the
following formula on the FX Valuation Date immediately
prior to the Maturity Date:
Specified Denomination divided by FX Rate (as
defined in Term 16(vii) above),
subject to the Disruption Provisions and Definitions in Term
16(vii) above.
18. Early Redemption Amount
The Final Redemption Amount per Specified Denomination,
(Condition 6(c)):
as determined 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 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

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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 of Dealer:
J.P. Morgan Securities plc
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 markets:
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 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

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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:
XS2243341760
31. Common Code:
224334176
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 September 23, 2020.
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.



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RESPONSIBILITY
IBRD accepts responsibility for the information contained in this Final Terms.
Signed on behalf of IBRD:



By:
...........................................................

Duly authorised



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