Obligation IBRD-Global 0.43% ( US459058JF11 ) en USD

IBRD-Global

100 % ⇌

Etats-unis

US459058JF11 ( en USD )

0.43% par an ( paiement trimestriel )

18/08/2027

Prospectus brochure de l'obligation IBRD US459058JF11 en USD 0.43%, échéance 18/08/2027

459058JF1

19/08/2025 ( Dans 49 jours )

La Banque internationale pour la reconstruction et le développement (IBRD), membre du Groupe de la Banque mondiale, fournit des prêts et des services consultatifs aux pays à revenu intermédiaire et à revenu faible pour soutenir leur développement économique.

L'Obligation émise par IBRD-Global ( Etats-unis ) , en USD, avec le code ISIN US459058JF11, paye un coupon de 0.43% par an.
Le paiement des coupons est trimestriel et la maturité de l'Obligation est le 18/08/2027

EXECUTION VERSION

Final Terms dated January 11, 2021

International Bank for Reconstruction and Development

Issue of
US$1,150,000,000 SOFR Index-Linked Floating Rate Notes due August 19, 2027

(to be consolidated and form a single series with the existing US$700,000,000 SOFR Index-
Linked Floating Rate Notes due August 19, 2027, issued on August 19, 2020)

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 May 28, 2008. This document
constitutes the Final Terms of the Notes described herein and must be read in conjunction with such
Prospectus.

SUMMARY OF THE NOTES

1.
Issuer:
International
Bank
for
Reconstruction
and
Development ("IBRD")

2.
(i)
Series Number:
101196

(ii) Tranche Number:
2

3.
Specified Currency or Currencies
United States Dollar ("US$")
(Condition 1(d)):

4.
Aggregate Nominal Amount:

(i)
Series:
US$1,850,000,000

(ii) Tranche:
US$1,150,000,000

5.

(i)
Issue Price:
100.593 per cent. of the Aggregate Nominal Amount of
this Tranche plus 56 days of accrued interest

(ii) Net Proceeds:
US$1,156,008,443.33

6.
Specified Denominations
US$1,000 and integral multiples thereof

(Condition 1(b)):

7. (i) Issue Date:
January 14, 2021

(ii) Interest Commencement Date:
November 19, 2020

4814-7932-3094 v.2

8.
Maturity Date (Condition 6(a)):
August 19, 2027
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:
Syndicated

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

16. Floating Rate Note Provisions
Applicable
(Condition 5(b)):

(i) Interest Period(s):
As set out in Condition 5(l)

(ii) Specified Interest Payment Date(s):
February 19, May 19, August 19 and November 19 in
each year, from and including February 19, 2021, to and
including the Maturity Date, in each case subject to
adjustment in accordance with the Business Day
Convention specified below

(iii) Interest Period Dates:
Each Specified Interest Payment Date
(iv) Business Day Convention:
Following

(v) Business Centre(s):
New York

(vi) Manner in which the Rate(s) of
ISDA Determination
/Interest is/are to be determined:

(vii) Party responsible for calculating the Citibank N.A., London Branch
Rate(s) and Interest Amount(s)

(the "Calculation Agent"):
(viii) ISDA Determination (Condition

5(b)(ii)(B)):
- Floating Rate Option:
Compounded SOFR, as defined, and subject to the fall-
back provisions, in Term 16(xiii) below.
- Reset Date:
The first day of each Interest Period

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4814-7932-3094 v.2

- U.S. Government Securities
Any day, except for a Saturday, Sunday or a day on
Business Day:
which the Securities Industry and Financial Markets
Association recommends that the fixed income
departments of its members be closed for the entire day
for purposes of trading in U.S. government securities.
- Interest Determination Date:
The date five U.S. Government Securities Business
Days before each Specified Interest Payment Date.

(ix) Margin(s):
Plus 0.43 per cent. per annum

(x) Minimum Rate of Interest:
0.00 per cent. per annum

(xi) Maximum Rate of Interest:
Not Applicable

(xii) Day Count Fraction
Actual/360
(Condition 5(l)):

(xiii) Fall back provisions, rounding
Subject to the Compounded SOFR Fallback Provisions
provisions, denominator and any
below, for any Interest Period, "Compounded SOFR"
other terms relating to the method will be calculated by the Calculation Agent on each
of calculating interest on Floating Interest Determination Date as follows and the resulting
Rate Notes, if different from
percentage will be rounded, if necessary, to the fourth
those set out in the Conditions:
decimal place of a percentage point, 0.00005 being
rounded upwards:

where:
"Observation Period" means, in respect of such
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 such 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

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4814-7932-3094 v.2

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 https://apps.newyorkfed.org/markets/autorates/sofr-
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

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4814-7932-3094 v.2

with respect to the then-current Benchmark, the
Benchmark 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 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

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4814-7932-3094 v.2

(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 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

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4814-7932-3094 v.2

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
(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

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4814-7932-3094 v.2

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 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 it is being made in the awareness that the
statement or publication will 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

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4814-7932-3094 v.2

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 thereof) means (1) if the Benchmark
is SOFR Index, the SOFR Index Determination Time,
and (2) if the Benchmark is not SOFR Index, the time
determined by the Issuer after giving effect to the
Benchmark Replacement Conforming Changes.
"Relevant Governmental Body" means the Federal
Reserve Board and/or the Federal Reserve Bank of New
York, or a committee officially endorsed or convened
by the Federal Reserve Board and/or the Federal
Reserve Bank of New York or any successor thereto.
"Unadjusted Benchmark Replacement" means the
Benchmark Replacement excluding the Benchmark
Replacement Adjustment.

PROVISIONS RELATING TO REDEMPTION

17. Final Redemption Amount of each Note US$1,000 per minimum Specified Denomination
(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)):
Fed Bookentry Notes:

Fed Bookentry Notes available on Issue Date

20. New Global Note:
No

21. Financial Centre(s) or other special
New York
provisions relating to payment dates

(Condition 7(h)):
22. Governing law (Condition 14):
New York

23. Other final terms:
Not Applicable

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4814-7932-3094 v.2

DISTRIBUTION

24. (i) If syndicated, names of Managers
BMO Capital Markets Corp.:
US$383,333,000
and underwriting commitments:
RBC Capital Markets, LLC:
US$383,333,000
Wells Fargo Securities, LLC US$383,334,000

(ii) Stabilizing Manager(s) (if any):
Not Applicable

25. If non-syndicated, name of Dealer:
Not Applicable

26. Total commission and concession:
0.15 per cent. of the Aggregate Nominal Amount

27. Additional selling restrictions:
Not Applicable

OPERATIONAL INFORMATION

28. ISIN Code:
US459058JF11

29. Common Code:
221937694

30. CUSIP:
459058JF1

31. Any clearing system(s) other than
Bookentry system of the Federal Reserve Banks;
Euroclear Bank SA/NV, Clearstream
Euroclear Bank SA/NV; Clearstream Banking S.A.
Banking S.A. and The Depository Trust
Company and the relevant identification
number(s):

32. Delivery:
Delivery against payment

33. Intended to be held in a manner which
Not Applicable
would allow Eurosystem eligibility:

GENERAL INFORMATION

IBRD's most recent Information Statement was issued on September 23, 2020.

SUPPLEMENTAL PROSPECTUS INFORMATION

The Managers are represented by Sullivan & Cromwell LLP. From time to time Sullivan &
Cromwell LLP performs legal services for IBRD.

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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4814-7932-3094 v.2