Obligation Interamerican Development Bank 1.7% ( CA458182EA63 ) en CAD

Interamerican Development Bank

100 % ⇌

Etas-Unis

CA458182EA63 ( en CAD )

1.7% par an ( paiement semestriel )

09/10/2024 - Obligation échue

Prospectus brochure de l'obligation Inter-American Development Bank (IDB) CA458182EA63 en CAD 1.7%, échue

1 000 CAD

600 000 000 CAD

458182EA6

La Banque interaméricaine de développement (BID) est une institution financière de développement multilatérale qui ?uvre à améliorer la vie des habitants de l'Amérique latine et des Caraïbes en finançant des projets de développement économique, social et environnemental.

L'Obligation émise par Interamerican Development Bank ( Etas-Unis ) , en CAD, avec le code ISIN CA458182EA63, paye un coupon de 1.7% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 09/10/2024

EXECUTION VERSION

PRICING SUPPLEMENT
Inter-American Development Bank
Global Debt Program
Series No: 728
CAD600,000,000 1.70 percent Notes due October 10, 2024

Issue Price: 99.824 percent

Application has been made for the Notes to be admitted to the
Official List of the Financial Conduct Authority and
to trading on the London Stock Exchange plc's
Regulated Market

RBC Capital Markets
Scotiabank
TD Securities

The date of this Pricing Supplement is October 4, 2019.
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No: 728
CAD600,000,000 1.70 percent Notes due October 10, 2024

DC_LAN01:379610.2

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 January 8, 2001 (the
"Prospectus") (which for the avoidance of doubt does not constitute a prospectus for the
purposes of Part VI of the United Kingdom Financial Services and Markets Act 2000 or a base
prospectus for the purposes of Regulation (EU) 2017/1129). This Pricing Supplement must be
read in conjunction with the Prospectus. This document is issued to give details of an issue by
the Inter-American Development Bank (the "Bank") under its Global Debt Program and to
provide information supplemental to the Prospectus. Complete information in respect of the
Bank and this offer of the Notes is only available on the basis of the combination of this
Pricing Supplement and the Prospectus.
MiFID II product governance / Retail investors, professional investors and ECPs target
market See "General Information--Additional Information Regarding the Notes--Matters
relating to MiFID II" below.
Terms and Conditions
The following items under this heading "Terms and Conditions" are the particular terms which
relate to the issue the subject of this Pricing Supplement. These are the only terms which form
part of the form of Notes for such issue.

1.
Series No.:
728
2.
Aggregate Principal Amount:
CAD600,000,000
3.
Issue Price:
CAD598,944,000 which is 99.824 percent of the
Aggregate Principal Amount
4.
Issue Date:
October 10, 2019
5.
Form of Notes

(Condition 1(a)):
Registered only, as further provided in paragraph
9(c) of "Other Relevant Terms" below
See also "Additional Information regarding the
Description of the Notes--Form, Denomination
and Registration" below.
6.
Authorized Denomination(s)

(Condition 1(b)):
CAD1,000 and integral multiples thereof
7.
Specified Currency

(Condition 1(d)):
Canadian Dollars ("CAD") being the lawful
currency of Canada
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PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No: 728
CAD600,000,000 1.70 percent Notes due October 10, 2024

DC_LAN01:379610.2

8.
Specified Principal Payment

Currency

(Conditions 1(d) and 7(h)):
CAD
9.
Specified Interest Payment Currency
(Conditions 1(d) and 7(h)):
CAD
10. Maturity Date

(Condition 6(a); Fixed Interest Rate): October 10, 2024
11. Interest Basis

(Condition 5):
Fixed Interest Rate (Condition 5(I))
12. Interest Commencement Date

(Condition 5(III)):
Issue Date (October 10, 2019)
13. Fixed Interest Rate (Condition 5(I)):

(a) Interest Rate:
1.70 percent per annum

(b) Fixed Rate Interest Payment
Semi-annually in arrears on April 10 and
Date(s):
October 10 in each year, commencing on April
10, 2020, up to and including the Maturity Date.
Each Interest Payment Date is subject to the
Following Business Day Convention with no
adjustment to the amount of interest otherwise
calculated.

(c) Fixed Rate Day Count
Actual/Actual Canadian Compound Method,
Fraction(s):
which means when calculating interest for a full
semi-annual fixed rate interest period, the day
count convention is 30/360 and when calculating
interest for a period other than a full semi-annual
fixed rate interest period, the day count
convention is Actual/365 (Fixed).
14. Relevant Financial Center:
London, Toronto, New York
15. Relevant Business Days:
London, Toronto, New York
16. Issuer's Optional Redemption

(Condition 6(e)):
No
17. Redemption at the Option of the

Noteholders (Condition 6(f)):
No
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PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No: 728
CAD600,000,000 1.70 percent Notes due October 10, 2024

DC_LAN01:379610.2

18. Governing Law:
New York
19. Selling Restrictions:

(a) United States:
Under the provisions of Section 11(a) of the
Inter-American Development Bank Act, the

Notes are exempted securities within the
meaning of Section 3(a)(2) of the U.S. Securities
Act of 1933, as amended, and Section 3(a)(12)
of the U.S. Securities Exchange Act of 1934, as
amended.

(b) United Kingdom:
Each of the Managers represents and agrees that
it has complied and will comply with all
applicable provisions of the Financial Services
and Markets Act 2000 with respect to anything
done by it in relation to such Notes in, from or
otherwise involving the United Kingdom.

(c) Canada:
Each of the Managers severally acknowledges,
represents and agrees that (a) no prospectus has
been filed with any securities commission or
similar authority in Canada in connection with
the issue and sale of the Notes, and (b) the Notes
may not be offered or sold, directly or indirectly,
in Canada or to a resident of Canada except in
compliance with applicable Canadian securities
laws and accordingly, any sales of the Notes will
be made (i) through an appropriately registered
dealer or in accordance with an available
exemption from the dealer registration
requirements under applicable Canadian
securities laws; and (ii) pursuant to an exemption
from the prospectus requirements of such
securities laws.

(d) General:
No action has been or will be taken by the Issuer
that would permit a public offering of the Notes,
or possession or distribution of any offering
material relating to the Notes in any jurisdiction
where action for that purpose is required.
Accordingly, each of the Managers agrees that it
will observe all applicable provisions of law in
each jurisdiction in or from which it may offer or
sell Notes or distribute any offering material.
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PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No: 728
CAD600,000,000 1.70 percent Notes due October 10, 2024

DC_LAN01:379610.2

20. Amendment to Condition 7(h):
The following shall apply to Notes any payments
in respect of which are payable in a Specified
Currency other than United States Dollars:
Condition 7(h) is hereby amended by deleting
the words "the noon buying rate in U.S. dollars
in the City of New York for cable transfers for
such Specified Currency as published by the
Federal Reserve Bank of New York on the
second Business Day prior to such payment or, if
such rate is not available on such second
Business Day, on the basis of the rate most
recently available prior to such second Business
Day" and replacing them with the words "a
U.S. dollar/Specified Currency exchange rate
determined by the Calculation Agent as of the
second Business Day prior to such payment, or,
if the Calculation Agent determines that no such
exchange rate is available as of such second
Business Day, on the basis of the exchange rate
most recently available prior to such second
Business Day. In making such determinations,
the Calculation Agent shall act in good faith and
in a commercially reasonable manner having
taken into account all available information that
it shall deem relevant".

If applicable and so appointed, and unless
otherwise defined herein, the "Calculation
Agent" referred to in amended Condition
7(h) shall be the Global Agent under the
Bank's Global Debt Program namely,
Citibank, N.A., London Branch, or its duly
authorized successor.

Other Relevant Terms
1.
Listing:
Application has been made for the Notes to be
admitted to the Official List of the Financial
Conduct Authority and to trading on the London
Stock Exchange plc's Regulated Market with
effect from the Issue Date.
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PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No: 728
CAD600,000,000 1.70 percent Notes due October 10, 2024

DC_LAN01:379610.2

2.
Details of Clearance System
CDS Clearing and Depository Services Inc.
Approved by the Bank and the
("CDS") and through direct or indirect
Global Agent and Clearance and
participation in CDS: DTC, Euroclear Bank
Settlement Procedures:
SA/NV and Clearstream Banking S.A.

For Clearance and Settlement Procedures, see
"Additional Information regarding Clearing and
Settlement" below.
3.
Syndicated:
Yes

4.
If Syndicated:

(a) Liability:
Several and not joint

(b) Managers:
RBC Dominion Securities Inc.
Scotiabank Europe plc
The Toronto-Dominion Bank
5.
Commissions and Concessions:
0.10% of the Aggregate Principal Amount
6.
Estimated Total Expenses:
None. The Managers have agreed to pay for
certain expenses related to the issuance of the
Notes.

7.
Codes:

(a) Common Code:
206281324

(b) ISIN:
CA458182EA63

(c) CUSIP:
458182EA6
8.
Identity of Managers:
RBC Dominion Securities Inc.
Scotiabank Europe plc
The Toronto-Dominion Bank
9.
Provisions for Registered Notes:

(a) Individual Definitive
No
Registered Notes Available
on Issue Date:

(b) DTC Global Note(s):
No
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PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No: 728
CAD600,000,000 1.70 percent Notes due October 10, 2024

DC_LAN01:379610.2

(c) Other Registered Global
Yes, issued in accordance with the Global
Notes:
Agency Agreement, dated January 8, 2001, as
amended, among the Bank, Citibank, N.A., as
Global Agent, and the other parties thereto. See
"Additional Information regarding the
Description of the Notes--Form, Denomination
and Registration" below.

General Information
Additional Information Regarding the Notes
1.
The language set out under the heading "Use of Proceeds" in the Prospectus shall be
deleted in its entirety and replaced by the following:

"The net proceeds from the sale of the Notes will be included in the ordinary capital
resources of the Bank and, will not be committed or earmarked for lending to, or financing of,
any specific loans, projects or programs. The Bank, in partnership with its member countries,
works to reduce poverty and inequalities in Latin America and the Caribbean by promoting
economic and social development in a sustainable, climate friendly way.

The Bank's strategic priorities include social inclusion and inequality, productivity and
innovation and economic integration along with three cross-cutting issues: gender equality and
diversity, climate change and environmental sustainability, and institutional capacity and the
rule of law. Each strategic priority of the Bank aligns to at least one of the United Nations
Sustainable Development Goals ("SDGs"), with all goals covered within the Bank's
institutional strategy, which may be adapted from time to time should the United Nations
SDGs definition evolve.

All projects undertaken by the Bank go through the Bank's rigorous sustainability
framework. The framework tracks measurable results, adherence to lending targets and the
effectiveness of its environmental and social safeguards. The Bank's administrative and
operating expenses are currently covered entirely by the Bank's various sources of revenue,
consisting primarily of net interest margin and investment income (as more fully described in
the Bank's Information Statement)."

2.
Matters relating to MiFID II
The Bank does not fall under the scope of application of the MiFID II regime.
Consequently, the Bank does not qualify as an "investment firm", "manufacturer" or
"distributor" for the purposes of MiFID II.
MiFID II product governance / Retail investors, professional investors and ECPs
target market Solely for the purposes of the manufacturers' 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
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PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No: 728
CAD600,000,000 1.70 percent Notes due October 10, 2024

DC_LAN01:379610.2

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 manufacturers' 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 manufacturers' target market assessment) and
determining appropriate distribution channels.
For the purposes of this provision, the expression MiFID II means Directive
2014/65/EU, as amended.
2.
United States Federal Income Tax Matters
The following supplements the discussion under the "Tax Matters" section of the
Prospectus regarding the United States federal income tax treatment of the Notes, and is
subject to the limitations and exceptions set forth therein. Any tax disclosure in the Prospectus
or this pricing supplement is of a general nature only, is not exhaustive of all possible tax
considerations and is not intended to be, and should not be construed to be, legal, business or
tax advice to any particular prospective investor. Each prospective investor should consult its
own tax advisor as to the particular tax consequences to it of the acquisition, ownership, and
disposition of the Notes, including the effects of applicable United States federal, state, and
local tax laws and non-United States. tax laws and possible changes in tax laws.

Because the Notes are denominated and payable in the Canadian Dollar, a United States
holder of the Notes will generally be subject to special United States federal income tax rules
governing foreign currency transactions, as described in the Prospectus in the last four
paragraphs of "--Payments of Interest", in "--Purchase, Sale and Retirement of the Notes"
and in "--Exchange of Amounts in Other Than U.S. Dollars" under the "United States
Holders" section.

Upon the sale or retirement of the Notes, a United States holder will generally
recognize gain or loss equal to the difference, if any, between the United States dollar value of
the amount realized by such holder, excluding any amounts attributable to accrued but unpaid
interest (which will be treated as interest payments), and such holder's tax basis in the Notes.
A United States holder's adjusted tax basis in the Notes generally will equal the United States
dollar cost of the Notes to the United State holder. Such gain or loss will be capital gain or loss
except to the extent attributable to changes in exchange rates. Capital gain of individual
taxpayers from the sale or retirement of the Notes will generally be treated as long-term capital
gain or loss to the extent the United States holder has held the Notes for more than one year.
Long-term capital gain of individual taxpayers may be eligible for reduced rates of taxation.
The deductibility of capital loss is subject to significant limitations.
Due to a change in law since the date of the Prospectus, the second paragraph of "--
Payments of Interest" under the "United States Holders" section should be updated to read as
follows: "Interest paid by the Bank on the Notes constitutes income from sources outside the
United States and will generally be "passive" income for purposes of computing the foreign tax
credit."
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PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No: 728
CAD600,000,000 1.70 percent Notes due October 10, 2024

DC_LAN01:379610.2

Information with Respect to Foreign Financial Assets. Owners of "specified foreign
financial assets" with an aggregate value in excess of U.S.$50,000 (and in some circumstances,
a higher threshold) may be required to file an information report with respect to such assets
with their tax returns. "Specified foreign financial assets" may include financial accounts
maintained by foreign financial institutions, as well as the following, but only if they are held
for investment and not held in accounts maintained by financial institutions: (i) stocks and
securities issued by non-United States persons, (ii) financial instruments and contracts that
have non-United States issuers or counterparties, and (iii) interests in foreign entities. Holders
are urged to consult their tax advisors regarding the application of this reporting requirement to
their ownership of the Notes.

Medicare Tax. A United States holder that is an individual or estate, or a trust that does
not fall into a special class of trusts that is exempt from such tax, is subject to a 3.8% tax (the
"Medicare tax") on the lesser of (1) the United States holder's "net investment income" (or
"undistributed net investment income" in the case of an estate or trust) for the relevant taxable
year and (2) the excess of the United States holder's modified adjusted gross income for the
taxable year over a certain threshold (which in the case of individuals is between U.S.$125,000
and U.S.$250,000, depending on the individual's circumstances). A holder's net investment
income will generally include its interest income, foreign currency gain and its capital gains
from the disposition of Notes, unless such interest income or gains are derived in the ordinary
course of the conduct of a trade or business (other than a trade or business that consists of
certain passive or trading activities). United States holders that are individuals, estates or trusts
are urged to consult their tax advisors regarding the applicability of the Medicare tax to their
income and gains in respect of their investment in the Notes.

Treasury Regulations Requiring Disclosure of Reportable Transactions. Treasury
regulations require United States taxpayers to report certain transactions that give rise to a loss
in excess of certain thresholds (a "Reportable Transaction"). Under these regulations, because
the Notes are denominated in a foreign currency, a United States holder (or a non-United States
holder that holds the Notes in connection with a United States trade or business) that
recognizes a loss with respect to the Notes that is characterized as an ordinary loss due to
changes in currency exchange rates (under any of the rules discussed under the "Tax Matters"
section of the Prospectus) would be required to report the loss on IRS Form 8886 (Reportable
Transaction Statement) if the loss exceeds the thresholds set forth in the regulations. For
individuals and trusts, this loss threshold is U.S.$50,000 in any single taxable year. For other
types of taxpayers and other types of losses, the thresholds are higher. Holders should consult
with their tax advisors regarding any tax filing and reporting obligations that may apply in
connection with acquiring, owning and disposing of Notes.

Additional Information regarding the Description of the Notes
Form, Denomination and Registration
The Notes will be issued in the form of a fully registered global note registered in the name of
CDS & CO., as nominee of CDS and held by CDS (the "Global Note"). Beneficial interests in
the Global Note will be represented through book-entry accounts of financial institutions acting
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PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No: 728
CAD600,000,000 1.70 percent Notes due October 10, 2024

DC_LAN01:379610.2

on behalf of beneficial owners as direct and indirect participants in CDS. Investors may elect
to hold interests in the Global Note directly through any of CDS (in Canada), DTC (in the
United States) or Clearstream Banking S.A. or Euroclear Bank SA/NV (in Europe) if they are
participants of such systems, or indirectly through organizations which are participants in such
systems. DTC will hold interests on behalf of its participants directly through its account at
CDS and Clearstream Banking S.A. and Euroclear Bank SA/NV will hold interests on behalf
of their participants through customers' securities accounts in their respective names on the
books of their respective Canadian subcustodians, each of which is a Canadian schedule I
chartered bank ("Canadian Subcustodians"), which in turn will hold such interests in
customers' securities accounts in the names of the Canadian Subcustodians on the books of
CDS. Except in the limited circumstances described below under "Definitive Certificates",
owners of beneficial interests in the Global Note will not be entitled to have Notes registered in
their names, will not receive or be entitled to receive physical delivery of Notes in definitive
form and will not be considered owners or holders thereof under the Global Agency
Agreement.
All Notes will be recorded in a register maintained by the Registrar and will be registered in
the name of CDS & CO. (or such other nominees of CDS as an authorized representative of
CDS may advise) for the benefit of owners of beneficial interests in the Global Note, including
participants of DTC, Clearstream Banking S.A. and Euroclear Bank SA/NV.
Definitive Certificates
No beneficial owner of the Notes will be entitled to receive physical delivery of the Notes in
definitive form except in the following limited circumstances:
(i) CDS notifies the Bank that it is unwilling or unable to continue as depository for the Notes
and a successor depository is not appointed by the Bank within 90 working days after receiving
such notice; or (ii) CDS ceases to be a recognized clearing agency under applicable provincial
or Canadian federal securities legislation and no successor clearing system satisfactory to the
Bank is available within 90 days after the Bank becoming aware that CDS is no longer so
recognized, the Bank will issue or cause to be issued fully registered Notes in definitive form
upon registration of, transfer of, or in exchange for, the Global Note. The Bank may also at
any time and in its sole discretion determine not to have any of the Notes held in the form of
the Global Note and, in such event, will issue or cause to be issued fully registered Notes in
definitive form upon registration of, transfer of, or in exchange for, such Global Note.
Additional Information regarding Clearing and Settlement
Links have been established among CDS, DTC, Clearstream Banking S.A. and Euroclear Bank
SA/NV to facilitate initial issuance of the Notes and cross-market transfers of the Notes
associated with secondary market trading. CDS will be directly linked to DTC and linked to
Clearstream Banking S.A. and Euroclear Bank SA/NV through the CDS accounts of their
respective Canadian Subcustodians.

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PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No: 728
CAD600,000,000 1.70 percent Notes due October 10, 2024

DC_LAN01:379610.2

Document Outline

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