Obbligazione Asia Development Bank 0% ( XS2331926357 ) in USD

Emittente Asia Development Bank
Prezzo di mercato refresh price now   100 USD  ▲ 
Paese  Filippine
Codice isin  XS2331926357 ( in USD )
Tasso d'interesse 0%
Scadenza 16/04/2061



Prospetto opuscolo dell'obbligazione Asian Development Bank XS2331926357 en USD 0%, scadenza 16/04/2061


Importo minimo 200 000 USD
Importo totale 30 000 000 USD
Descrizione dettagliata La Banca Asiatica di Sviluppo (ADB) è un'istituzione finanziaria internazionale che fornisce prestiti e assistenza tecnica ai paesi in via di sviluppo dell'Asia e del Pacifico per promuovere la crescita economica e la riduzione della povertà.

The Obbligazione issued by Asia Development Bank ( Philippines ) , in USD, with the ISIN code XS2331926357, pays a coupon of 0% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 16/04/2061







MiFID II PRODUCT GOVERNANCE/PROFESSIONAL INVESTORS AND
ECPs ONLY 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 and professional clients only, each
as defined in Directive 2014/65/EU (as amended, "MiFID II"); and (ii) all channels for
distribution of the Notes to eligible counterparties and professional 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.
U.K. MiFIR PRODUCT GOVERNANCE/PROFESSIONAL INVESTORS
AND ECPS ONLY 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 only eligible counterparties, as defined in the FCA
Handbook Conduct of Business Sourcebook ("COBS"), and professional clients, as defined in
Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("U.K. MiFIR"); and (ii) all channels for distribution of the Notes to
eligible counterparties and professional 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 the FCA Handbook
Product Intervention and Product Governance Sourcebook (the "U.K. MiFIR Product
Governance Rules") 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.

ADB does not fall under the scope of application of MiFID II or U.K. MiFIR.
Consequently, ADB does not qualify as an "investment firm", "manufacturer" or "distributor" for
the purposes of either MiFID II or U.K. MiFIR.






PRICING SUPPLEMENT


[LOGO];



ASIAN DEVELOPMENT BANK
GLOBAL MEDIUM-TERM NOTE PROGRAM
Series No.: 1272-00-2
U.S.$30,000,000 Zero Coupon Callable Notes due 16 April 2061


Issue price: 100 per cent.



Dealer
Crédit Agricole Corporate and Investment Bank




The date of this Pricing Supplement is 14 April 2021.


This pricing supplement (the "Pricing Supplement") is issued to give details of an
issue of U.S.$30,000,000 Zero Coupon Callable Notes due 16 April 2061 (the "Notes") by the
Asian Development Bank ("ADB") under its Global Medium-Term Note Program and to provide
information supplemental to the Prospectus referred to below.
This Pricing Supplement supplements the terms and conditions of the Notes set
forth in the Prospectus dated 9 December 2020 (as amended and supplemented and together with
the documents incorporated by reference therein, the "Prospectus") and should be read in
conjunction with the Prospectus. Unless otherwise defined in this Pricing Supplement, capitalized
terms used herein have the meanings given to them in the Prospectus.
The issue of the Notes was authorized pursuant to a global borrowing authorization
of the Board of Directors of ADB dated 9 December 2020.
This Pricing Supplement does not constitute, and may not be used for the purposes
of, an offer or solicitation by anyone in any jurisdiction in which such an offer or solicitation is
not authorized or to any person to whom it is unlawful to make such an offer or solicitation, and
no action is being taken to permit an offering of the Notes or the distribution of this Pricing
Supplement in any jurisdiction where such action is required.
The Notes are not required to be and have not been registered under the U.S.
Securities Act of 1933, as amended. The Notes have not been approved or disapproved by
the U.S. Securities and Exchange Commission or any state securities commission nor has the
Commission or any state securities commission passed upon the accuracy or adequacy of this
Pricing Supplement. Any representation to the contrary is a criminal offense in the United
States.
The distribution of this Pricing Supplement or the Prospectus and the offer and sale
of the Notes may be restricted by law in certain jurisdictions. Persons into whose possession this
Pricing Supplement or the Prospectus comes are required by ADB and the Dealer to inform
themselves about and to observe any such restrictions. For a description of certain restrictions on
offers and sales of Notes and on the distribution of this Pricing Supplement or the Prospectus, see
"Plan of Distribution" in the Prospectus.
The Notes are not the obligation of any government.

2


TERMS AND CONDITIONS
The following items are the particular terms and conditions of the Notes to which
this Pricing Supplement relates. In case of any conflict between such terms and conditions and
the terms and conditions set forth in the Prospectus, the terms and conditions set forth in this
Pricing Supplement shall govern.
General Provisions
1.
Issuer:
Asian Development Bank ("ADB")
2.
Series Number:
1272-00-2
3.
(i)
Specified Currency
United States Dollar ("U.S.$")
(Condition 1(c)):
(ii)
Specified Principal Payment
Not applicable
Currency if different from
Specified Currency (Condition
1(c)):
(iii)
Specified Interest Payment
Not applicable
Currency if different from
Specified Currency (Condition
1(c)):
(iv)
Alternative Currency
Not applicable
(Condition 7(i)) (if applicable):
4.
Aggregate Nominal Amount:
U.S.$30,000,000
5.
(i) Issue Price:
100 per cent. of the Aggregate Nominal

Amount
(ii) Net proceeds:
U.S.$30,000,000
6.
Specified Denominations (Condition
U.S.$200,000
1(a)):
7.
(i)
Issue Date (Condition 5(d)):
16 April 2021
(ii)
Interest Commencement Date
Not applicable
(if different from the Issue
Date) (Condition 5(d)):
8.
Maturity Date or Redemption Month
The earlier of (i) 16 April 2061 and (ii) the
(Condition 6(a)):
Optional Redemption Date (as defined in
paragraph 21(i) below), subject to
paragraph 31 below.

3


9.
Interest Basis (Condition 5):
Zero Coupon (Condition 5(c)) (further
particulars specified below)

10. Redemption/Payment Basis
Redemption at 344.417399133 per cent. of
(Condition 6(a)):
the Aggregate Nominal Amount. For the
avoidance of doubt, the Final Redemption
Amount is U.S.$103,325,219.74.
11. Change of Interest or
Not applicable
Redemption/Payment Basis:
12. Put/Call Options (Conditions 6(e) and
Call Option (further particulars specified
(f)):
below)
13. Status of the Notes (Condition 3):
Senior
14. Listing:
Luxembourg Stock Exchange
15. Method of distribution:
Non-syndicated
Provisions Relating to Interest Payable
16. Fixed Rate Note Provisions
Not applicable
(Condition 5(a)):
17. Floating Rate Note Provisions
Not applicable
(Condition 5(b)):
18. Zero Coupon/Deep Discount Note
Applicable
Provisions (Conditions 5(c) and 6(c)):
(i)
Amortization Yield:
3.14 per cent. per annum
(ii)
Reference Price:
Issue Price
(iii)
Basis:
Compounded on an annual basis
(iv)
Day Count Fraction (Condition 30/360, unadjusted
5(d)):
(v)
Any other formula/basis of
See paragraph 24(i) below
determining amount payable:
19. Index-Linked Interest Note Provisions: Not applicable
20. Dual Currency Note Provisions:
Not applicable



4


Provisions Relating to Redemption
21. Call Option (Condition 6(e)):
Applicable
(i)
Optional Redemption Date(s):
The Issuer has the right to call the Notes at
the Optional Redemption Amount on 16
April of each year, commencing on 16
April 2023 up to and including 16 April
2060, in each case, adjusted in accordance
with the applicable
Business Day
Convention (for payment purposes only).
(ii)
Optional Redemption
The Optional Redemption Amount payable
Amount(s) and method, if any,
on the relevant Optional Redemption Date
of calculation of such
shall be the amount set out opposite such
amount(s):
date in the Annex.
(iii)
If redeemable in part:

· Minimum nominal amount
Not applicable
to be redeemed:
· Maximum nominal amount Not applicable
to be redeemed:
(iv)
Notice period (if other than as
Not less than ten (10) Relevant Business
set out in the Conditions):
Days' notice to the holders of the Notes
prior to the relevant Optional Redemption
Date
22. Put Option (Condition 6(f)):
Not applicable
23. Final Redemption Amount:
U.S.$103,325,219.74 (see paragraph 10
above)
(i)
Alternative Payment
Not applicable
Mechanism (Conditions 7(a)
and (c)):
(ii)
Long Maturity Note (Condition
Not applicable
7(f)):
(iii) Variable Redemption Amount
Not applicable
(Condition 6(d)):
24. Early Redemption Amount:


5


(i)
Early Redemption Amount(s)
In the event the Notes become due and
payable on an Event of Default
payable as provided in Condition 9, the
(Condition 9) and/or the method Early Redemption Amount per Specified
of calculating the same (if
Denomination shall be equal to the sum of
required or if different from that (A) U.S.$200,000 and (B) the product of
set out in the Conditions):
3.14 per cent. per annum (compounded
annually), being applied to U.S.$200,000,
from and including the Issue Date to but
excluding the earlier of the (i) due date for
redemption under Condition 9 (the "Early
Redemption Date"); and (ii) Maturity Date.
Such calculation shall be made on the basis
of the Day Count Fraction set forth in
paragraph 18(iv) above.
(ii)
Unmatured Coupons to become Not applicable
void (Condition 7(f)):
Additional General Provisions Applicable to the Notes
25. Form of Notes:
Registered Notes
(i)
Definitive Registered Notes
Registered Global Note available on Issue
Date; not exchangeable for individual
Definitive Registered Notes

(ii)
New Safekeeping Structure No
(NSS Form):
26. Talons for future Coupons to be
Not applicable
attached to definitive Bearer Notes
(and dates on which such Talons
mature):
27. Details relating to Partly Paid Notes:
Not applicable
amount 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 ADB to forfeit
the Notes and interest due on late
payment:
28. Details relating to Installment Notes:
Not applicable

6


29. Redenomination, renominalization and Not applicable
reconventioning provisions:
30. Consolidation provisions:
Not applicable
31. Other terms or special conditions:

(i)
Business Day Convention
Modified Following Business Day
(Condition 5(d)):
Convention
(ii)
Payment Dates:
If any date for payment of any principal in
respect of the Notes is not a Relevant
Business Day, such date shall be adjusted in
accordance with the applicable Business
Day Convention, and ADB shall not be
obliged to make any other payment in
respect of such postponed payment.
(iii) Relevant Financial Center:
New York
(iv)
Additional Business Center(s)
London
(Condition 5(d)):
Distribution
32. (i)
If syndicated, names of
Not applicable
Managers:
(ii)
Stabilizing Manager (if any):
Not applicable
(iii)
Commissions and Concessions:
0.00 per cent
33. If non-syndicated, name of Dealer:
Crédit Agricole Corporate and Investment
Bank
34. Additional selling restrictions:
Not applicable
Operational Information

35. (i) ISIN:
XS2331926357
(ii) CUSIP:
Not applicable
(iii) CINS:
Not applicable
(iv) Other:
Not applicable
36. Common Code:
233192635

7


37. Details of benchmarks administrators
Not applicable
and registration under Benchmarks
Regulation:
38. Any clearing system(s) other than
Euroclear and Clearstream, Luxembourg
Euroclear, Clearstream, Luxembourg
only
and DTC and the relevant identification
number(s):
39. Delivery:
Delivery against payment
40. Additional Paying Agent(s) (if any):
Not applicable
41. Governing Law:
English
42. Intended to be held in a manner which
Not applicable
would allow Eurosystem eligibility:

Listing Application


This Pricing Supplement comprises the details required to list the issue of Notes described
herein pursuant to the listing of the Global Medium-Term Note Program of ADB.

Material Adverse Change Statement
There has been no material adverse change in the financial position or prospects of ADB
since the date of the financial statements included in the Information Statement of ADB, which
was most recently published on 13 April 2021.

Responsibility
ADB accepts responsibility for the information contained in this Pricing Supplement which,
when read together with the Prospectus referred to above, contains all information that is material
in the context of the issue of the Notes.

ASIAN DEVELOPMENT BANK




By:

Name: MARIA A. LOMOTAN
Title: Assistant Treasurer

8


ANNEX

Optional
Optional
Optional
Redemption Date
Redemption
Redemption Price

Amount in
in per cent.
U.S.$
16 April 2023
31,913,578.80
106.378596000
16 April 2024
32,915,665.17
109.718883900
16 April 2025
33,949,217.06
113.164056867
16 April 2026
35,015,222.48
116.717408267
16 April 2027
36,114,700.47
120.382334900
16 April 2028
37,248,702.06
124.162340200
16 April 2029
38,418,311.30
128.061037667
16 April 2030
39,624,646.27
132.082154233
16 April 2031
40,868,860.16
136.229533867
16 April 2032
42,152,142.37
140.507141233
16 April 2033
43,475,719.64
144.919065467
16 April 2034
44,840,857.24
149.469524133
16 April 2035
46,248,860.16
154.162867200
16 April 2036
47,701,074.37
159.003581233
16 April 2037
49,198,888.11
163.996293700
16 April 2038
50,743,733.20
169.145777333
16 April 2039
52,337,086.42
174.456954733
16 April 2040
53,980,470.93
179.934903100
16 April 2041
55,675,457.72
185.584859067
16 April 2042
57,423,667.09
191.412223633
16 April 2043
59,226,770.24
197.422567467
16 April 2044
61,086,490.83
203.621636100
16 April 2045
63,004,606.64
210.015355467
16 April 2046
64,982,951.29
216.609837633
16 April 2047
67,023,415.96
223.411386533
16 April 2048
69,127,951.22
230.426504067
16 April 2049
71,298,568.89
237.661896300
16 April 2050
73,537,343.95
245.124479833
16 April 2051
75,846,416.55
252.821388500
16 April 2052
78,227,994.03
260.759980100
16 April 2053
80,684,353.04
268.947843467



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