Obligation Interamerican Development Bank 0% ( US4581X0DR65 ) en USD

Interamerican Development Bank

100 % ⇌

Etas-Unis

US4581X0DR65 ( en USD )

04/02/2025 - Obligation échue

Prospectus brochure de l'obligation Inter-American Development Bank (IDB) US4581X0DR65 en USD 0%, échue

1 000 USD

100 000 000 USD

4581X0DR6

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 USD, avec le code ISIN US4581X0DR65, paye un coupon de 0% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 04/02/2025

EXECUTION VERSION

PRICING SUPPLEMENT
Inter-American Development Bank
Global Debt Program
Series No.: 767

USD500,000,000 Floating Rate Notes due February 4, 2025 (the "Notes")
Issue Price: 100.00 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

BMO Capital Markets
Citigroup
Wells Fargo Securities

The date of this Pricing Supplement is November 2, 2020.
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 767
USD500,000,000 Floating Rate Notes due February 4, 2025

4831-4997-2944 v.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 July 28, 2020 (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. Together with the
applicable Conditions (as defined above), which are expressly incorporated hereto, these
are the only terms that form part of the form of Notes for such issue.

1. Series No.:
767
2.
Aggregate Principal Amount:
USD500,000,000
3.
Issue Price:
USD500,000,000 which is 100.00 percent of the
Aggregate Principal Amount
4.
Issue Date:
November 4, 2020
5.
Form of Notes

(Condition 1(a)):
Book-entry only
6.
Authorized Denomination(s)

(Condition 1(b)):
USD1,000 and integral multiples thereof
7.
Specified Currency

(Condition 1(d)):
United States Dollars (USD) being the lawful
currency of the United States of America
8.
Specified Principal Payment

Currency

(Conditions 1(d) and 7(h)):
USD
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PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 767
USD500,000,000 Floating Rate Notes due February 4, 2025

4831-4997-2944 v.2

9.
Specified Interest Payment

Currency
USD
(Conditions 1(d) and 7(h)):
10. Maturity Date

(Condition 6(a); Fixed Interest

Rate):
February 4, 2025
11. Interest Basis

(Condition 5):
Floating Interest Rate (Condition 5(II))
12. Interest Commencement Date

(Condition 5(III)):
Issue Date (November 4, 2020)
13. Floating Rate (Condition 5(II)):

(a)
Calculation Amount (if

different than Principal
Amount of the Note):
Not Applicable
(b)
Business Day
Following Business Day Convention
Convention:
(c)
Specified Interest
The period beginning on, and including, the
Period:
Interest Commencement Date (the Issue Date)
to, but excluding, the first Interest Payment Date
and each successive period beginning on, and
including, an Interest Payment Date to, but
excluding, the next succeeding Interest Payment
Date, in each case, as adjusted in accordance
with the relevant Business Day Convention.
(d) Interest Payment Date:
Quarterly in arrear on February 4, May 4,
August 4 and November 4 in each year,
commencing with a short first coupon on
February 4, 2021, up to and including the
Maturity Date.
Each Interest Payment Date is subject to
adjustment in accordance with the Business Day
Convention.
(e)
Interest Period Date:
Each Interest Payment Date
(f)
Reference Rate:
Subject to the Compounded SOFR Fallback
3
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 767
USD500,000,000 Floating Rate Notes due February 4, 2025

4831-4997-2944 v.2

Provisions below, for any Interest Period,
"Compounded SOFR" will be calculated by the
Calculation
Agent
on
each
Interest
Determination Date as follows and the resulting
percentage will be rounded, if necessary, to the
fourth decimal place of a percentage point,
0.00005 being rounded upwards:

where:
"Observation Period" means, in respect of each
Interest Period, the period from, and including,
the date which is five U.S. Government
Securities Business Days preceding the first date
of such Interest Period to, but excluding, the date
which is five U.S. Government Securities
Business Days preceding the Interest Payment
Date for such Interest Period (or in the final
Interest Period, the Maturity Date).
"SOFR IndexStart" means the SOFR Index value
on the day which is five U.S. Government
Securities Business Days preceding the first date
of the relevant Interest Period.
"SOFR IndexEnd" means the SOFR Index value
on the day which is five U.S. Government
Securities Business Days preceding the Interest
Payment Date relating to such Interest Period (or
in the final Interest Period, the Maturity Date).
"dc" means the number of calendar days in the
Observation Period relating to such Interest
Period.
"SOFR Administrator" means the Federal
Reserve Bank of New York ("NY Fed") as
administrator of the secured overnight financing
rate ("SOFR") (or a successor administrator of
SOFR)
"SOFR Index" in relation to any U.S.
Government Securities Business Day shall be the
value published by the SOFR Administrator on
its website (on or about 3:00 p.m. (New York
Time) on such U.S. Government Securities
Business
Day
(the
"SOFR
Index
Determination Time"). Currently, the SOFR
Administrator publishes the SOFR Index on its
website
at
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PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 767
USD500,000,000 Floating Rate Notes due February 4, 2025

4831-4997-2944 v.2

https://apps.newyorkfed.org/markets/autorates/so
fr-avg-ind. In the event that the value originally
published by the SOFR Administrator on or
about 3:00 p.m. (New York Time) on any U.S.
Government
Securities
Business
Day
is
subsequently corrected and such corrected value
is published by the SOFR Administrator on the
original date of publication, then such corrected
value, instead of the value that was originally
published, shall be deemed the SOFR Index as
of the SOFR Index Determination Time in
relation to such U.S. Government Securities
Business Day.
Compounded SOFR Fallback Provisions:
SOFR Index Unavailable:
If a SOFR IndexStart or SOFR IndexEnd is not
published
on
the
associated
Interest
Determination Date and a Benchmark Transition
Event and its related Benchmark Replacement
Date have not occurred with respect to SOFR
Index or SOFR, "Compounded SOFR" means,
for the applicable Interest Period for which such
index is not available, the rate of return on a
daily compounded interest investment calculated
by the Calculation Agent in accordance with the
formula for SOFR Averages, and definitions
required for such formula, published on the
SOFR
Administrator's
website
at
https://www.newyorkfed.org/markets/treasury-
repo-reference-rates-information.
For
the
purposes of this provision, references in the
SOFR Averages compounding formula and
related definitions to "calculation period" shall
be replaced with "Observation Period" and the
words "that is, 30-, 90-, or 180- calendar days"
shall be removed. If the daily SOFR ("SOFRi")
does not so appear for any day, "i" in the
Observation Period, SOFRi for such day "i" shall
be SOFR published in respect of the first
preceding U.S. Government Securities Business
Day for which SOFR was published on the
SOFR Administrator's website.
Effect of a Benchmark Transition Event:
If the Issuer determines on or prior to the
relevant Reference Time that a Benchmark
Transition Event and its related Benchmark
Replacement Date have occurred with respect to
the then-current Benchmark, the Benchmark
5
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 767
USD500,000,000 Floating Rate Notes due February 4, 2025

4831-4997-2944 v.2

Replacement will replace the then-current
Benchmark for all purposes relating to the Notes
in respect of all determinations on such date and
for all determinations on all subsequent dates.
In connection with the implementation of a
Benchmark Replacement, the Issuer will have
the right to make Benchmark Replacement
Conforming Changes from time to time.
Any determination, decision or election that may
be made by the Issuer pursuant to this section,
including any determination with respect to a
tenor, rate or adjustment or of the occurrence or
non-occurrence of an event, circumstance or date
and any decision to take or refrain from taking
any action or any selection:
(1) will be conclusive and binding absent
manifest error;
(2) will be made in the sole discretion of the
Issuer; and
(3) notwithstanding anything to the contrary
in the documentation relating to the Notes
described herein, shall become effective
without consent from the holders of the
Notes or any other party.
"Benchmark" means, initially, SOFR Index;
provided that if the Issuer determines on or prior
to the Reference Time that a Benchmark
Transition Event and its related Benchmark
Replacement Date have occurred with respect to
SOFR Index (or the published daily SOFR used
in the calculation thereof) then "Benchmark"
means the applicable Benchmark Replacement
for the SOFR Index; and provided further that if
the Issuer determines on or prior to the
Reference Time that a Benchmark Transition
Event and its related Benchmark Replacement
Date have occurred with respect to the then-
current Benchmark (or the daily published
component used in the calculation thereof), then
"Benchmark" means the applicable Benchmark
Replacement for the then-current Benchmark.
"Benchmark Replacement" means the first
alternative set forth in the order below that can
be determined by the Issuer as of the Benchmark
Replacement Date.
(1) the sum of: (a) the alternate rate of
interest
that
has
been
selected
or
6
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 767
USD500,000,000 Floating Rate Notes due February 4, 2025

4831-4997-2944 v.2

recommended by the Relevant Governmental
Body as the replacement for the then-current
Benchmark
and
(b)
the
Benchmark
Replacement Adjustment;
(2) the sum of: (a) the ISDA Fallback Rate
and (b) the Benchmark Replacement
Adjustment; or
(3) the sum of: (a) the alternate rate of
interest that has been selected by the Issuer
as the replacement for the then-current
Benchmark giving due consideration to any
industry-accepted rate of interest as a
replacement for the then-current Benchmark
for U.S. dollar-denominated floating rate
notes at such time and (b) the Benchmark
Replacement Adjustment;
Provided that, if a Benchmark Replacement Date
has occurred with regard to the daily published
component used in the calculation of a
Benchmark, but not with regard to the
Benchmark itself, "Benchmark Replacement"
means the references to the alternatives
determined in accordance with clauses (1), (2) or
(3) above for such daily published components.
"Benchmark
Replacement
Adjustment"
means the first alternative set forth in the order
below that can be determined by the Issuer as of
the Benchmark Replacement Date:
(1) the spread adjustment, or method for
calculating or determining such spread
adjustment, (which may be a positive or
negative value or zero) that has been selected
or
recommended
by
the
Relevant
Governmental Body for the applicable
Unadjusted Benchmark Replacement;
(2) if the applicable Unadjusted Benchmark
Replacement is equivalent to the ISDA
Fallback
Rate,
the
ISDA
Fallback
Adjustment; or
(3) the spread adjustment (which may be a
positive or negative value or zero) that has
been selected by the Issuer giving due
consideration
to
any
industry-accepted
spread adjustment, or method for calculating
or determining such spread adjustment, for
the
replacement
of
the
then-current
Benchmark
(or
the
daily
published
7
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 767
USD500,000,000 Floating Rate Notes due February 4, 2025

4831-4997-2944 v.2

component used in the calculation thereof)
with the applicable Unadjusted Benchmark
Replacement for U.S. dollar-denominated
floating rate notes at such time.
"Benchmark
Replacement
Conforming
Changes"
means,
with
respect
to
any
Benchmark
Replacement,
any
technical,
administrative or operational changes (including
changes to the timing and frequency of
determining rates and making payments of
interest, rounding of amounts or tenors, and
other administrative matters) that the Issuer
decides may be appropriate to reflect the
adoption of such Benchmark Replacement in a
manner substantially consistent with market
practice (or, if the Issuer decides that adoption of
any portion of such market practice is not
administratively feasible or if the Issuer
determines that no market practice for use of the
Benchmark Replacement exists, in such other
manner as the Issuer determines is reasonably
necessary); provided that, for the avoidance of
doubt, if a Benchmark Replacement Date has
occurred with regard to the daily published
component used in the calculation of a
Benchmark, but not with regard to the
Benchmark itself, "Benchmark Replacement
Conforming Changes" shall also mean that the
Issuer
may
calculate
the
Benchmark
Replacement for such Benchmark in accordance
with the formula for and method of calculating
such Benchmark last in effect prior to
Benchmark Replacement Date affecting such
component, substituting the affected component
with the relevant Benchmark Replacement for
such component.
"Benchmark Replacement Date" means the
earliest to occur of the following events with
respect to the then-current Benchmark (or the
daily published component used in the
calculation thereof):
(1) in the case of clause (1) or (2) of the
definition of "Benchmark Transition Event,"
the later of (a) the date of the public
statement or publication of information
referenced therein and (b) the date on which
the
administrator
of
the
Benchmark
permanently or indefinitely ceases to provide
the Benchmark (or such component); or
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PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 767
USD500,000,000 Floating Rate Notes due February 4, 2025

4831-4997-2944 v.2

(2) in the case of clause (3) of the definition
of "Benchmark Transition Event," the later
of (x) the date of the public statement or
publication of information referenced therein
and (y) the first date on which such
Benchmark (or such component) is no longer
representative
per
such
statement
or
publication.
For the avoidance of doubt, if the event that
gives rise to the Benchmark Replacement Date
occurs on the same day as, but earlier than, the
Reference Time in respect of any determination,
the Benchmark Replacement Date will be
deemed to have occurred prior to the Reference
Time for such determination.
"Benchmark Transition Event" means the
occurrence of one or more of the following
events with respect to the then-current
Benchmark (or the daily published component
used in the calculation thereof):
(1) a public statement or publication of
information by or on behalf of the
administrator of the Benchmark (or such
component)
announcing
that
such
administrator has ceased or will cease to
provide the Benchmark (or such component),
permanently or indefinitely, provided that, at
the time of such statement or publication,
there is no successor administrator that will
continue to provide the Benchmark (or such
component); or
(2) a public statement or publication of
information by the regulatory supervisor for
the administrator of the Benchmark (or such
component), the central bank for the
currency of the Benchmark (or such
component), an insolvency official with
jurisdiction over the administrator for the
Benchmark
(or
such
component),
a
resolution authority with jurisdiction over the
administrator for the Benchmark (or such
component) or a court or an entity with
similar insolvency or resolution authority
over the administrator for the Benchmark,
which states that the administrator of the
Benchmark (or such component) has ceased
or will cease to provide the Benchmark (or
such
component)
permanently
or
indefinitely, provided that, at the time of
9
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 767
USD500,000,000 Floating Rate Notes due February 4, 2025

4831-4997-2944 v.2

such statement or publication, there is no
successor administrator that will continue to
provide the Benchmark (or such component);
or
(3) a public statement or publication of
information by the regulatory supervisor for
the
administrator
of
the
Benchmark
announcing (A) that such Benchmark (or its
component) is no longer, or as of a specified
future date will no longer be, capable of
being
representative,
or
is
non-
representative, of the underlying market and
economic reality that such Benchmark (or its
component) is intended to measure as
required by applicable law or regulation and
as determined by the regulatory supervisor in
accordance with applicable law or regulation
and (B) that the intention of that statement or
publication is to engage contractual triggers
for fallbacks activated by pre-cessation
announcements
by
such
supervisor
(howsoever described) in contracts.
"ISDA Definitions" means the 2006 ISDA
Definitions published by the International Swaps
and Derivatives Association, Inc. or any
successor thereto, as amended or supplemented
from time to time, or any successor definitional
booklet for interest rate derivatives published
from time to time.
"ISDA Fallback Adjustment" means the spread
adjustment (which may be a positive or negative
value or zero) that would apply for derivatives
transactions referencing the ISDA Definitions to
be determined upon the occurrence of an index
cessation event with respect to the Benchmark
(or the daily published component used in the
calculation thereof).
"ISDA Fallback Rate" means the rate that
would
apply
for
derivatives
transactions
referencing the ISDA Definitions to be effective
upon the occurrence of an index cessation date
with respect to the Benchmark (or the daily
published component used in the calculation
thereof) for the applicable tenor excluding the
applicable ISDA Fallback Adjustment.
"Reference Time" with respect to any
determination of the Benchmark (or the daily
published component used in the calculation
10
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 767
USD500,000,000 Floating Rate Notes due February 4, 2025

4831-4997-2944 v.2