Obligation IBRD-Global 0% ( US45905UNW08 ) en USD

IBRD-Global

100 % ⇌

Etats-unis

US45905UNW08 ( en USD )

14/09/2015 - Obligation échue

Prospectus brochure de l'obligation IBRD US45905UNW08 en USD 0%, échue

500 000 000 USD

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 US45905UNW08, paye un coupon de 0% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 14/09/2015

Final Terms dated March 12, 2014
International Bank for Reconstruction and Development

Issue of USD 500,000,000 Floating Rate Notes due September 14, 2015
under the
Global Debt Issuance Facility
Terms used herein shal 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:
11049
(ii) Tranche Number:
1

3. Specified Currency or Currencies
United States Dol ars ("USD")
(Condition 1(d)):
4. Aggregate Nominal Amount:

(i) Series:
USD 500,000,000
(ii) Tranche:
USD 500,000,000
5. (i) Issue Price:
100.00 per cent. of the Aggregate Nominal Amount
(ii) Net proceeds:
USD 499,925,000.00
6. (i) Specified Denominations
USD 1,000
(Condition 1(b)):

7. Issue Date:
March 14, 2014

8. Maturity Date (Condition 6(a)):
September 14, 2015
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. Cal /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:
Non-syndicated
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
16. Floating Rate Note Provisions
Applicable
(Condition 5(b)):

(i) Interest Period(s):
As set forth in Condition 5 (1)
(ii) Specified Interest Payment
On the 14th of each month, from and including April 14,
Dates:
2014 to and including the Maturity Date, subject to
adjustment in accordance with the Business Day Convention
specified below

(iii) Business Day Convention:
Fol owing Business Day Convention
(iv)
Business Centre(s)
London and New York
(Condition 5(l):
(v) Manner in which the Rate(s)
ISDA Determination
of Interest is/are to be
determined:
(vi) Party responsible for
Citibank, N.A., London Branch
calculating the Rate(s) of
Interest and Interest
Amount(s) (if not the
Calculation Agent):

(vii) ISDA Determination
Applicable
(Condition 5(b)(ii)(B)):
Floating Rate Option:
USD-LIBOR-BBA
Designated Maturity:
1 month
Reset Date:
First day of each Interest Period
(viii) Margin(s):
Zero
(ix) Minimum Rate of Interest:
Zero per cent. per annum
(x) Maximum Rate of Interest:
Not Applicable
(xi) Day Count Fraction
Actual/360
(Condition 5(l)):
(xiii) Fal back provisions,
Not Applicable
rounding provisions,
denominator and any other
terms relating to the method
of calculating interest on
Floating Rate Notes, if
different from those set out in
the Conditions:
PROVISIONS RELATING TO REDEMPTION
17. Final Redemption Amount of each USD 1,000 per Specified Denomination
Note (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)):

Registered Notes:

Global Registered Certificate available on Issue Date

20. New Global Note:
No
21. Financial Centre(s) or other special London and New York
provisions relating to payment
dates (Condition 7(h)):

22. Governing law (Condition 14):
New York
23. Other final terms:
Not Applicable
DISTRIBUTION
24. (i) If syndicated, names of
Not Applicable
Managers and underwriting
commitments:

(ii) Stabilizing Manager(s) (if
Not Applicable
any):
25. If non-syndicated, name of Dealer: Goldman Sachs International
26. Total commission and concession: 0.015 per cent. of the Aggregate Nominal Amount
27. Additional selling restrictions:
Not Applicable
OPERATIONAL INFORMATION

28. ISIN Code:
US45905UNW08
29. Common Code:
104496768
30. CUSIP:
45905UNW0

31. Any clearing system(s) other than
Not Applicable
Euroclear Bank S.A./N.V.,
Clearstream Banking, société
anonyme and The Depository Trust
Company and the relevant
identification number(s):
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 al ow Eurosystem
eligibility:

GENERAL INFORMATION

IBRD's most recent Information Statement was issued on September 18, 2013.
SUPPLEMENTAL PROSPECTUS INFORMATION

The Prospectus is hereby supplemented with the following information, which shal be deemed
to be incorporated in, and to form part of, the Prospectus.
The Executive Directors of IBRD approved two Management proposals on February 11, 2014.

The Executive Directors approved a package of measures designed to enhance IBRD's financial
capacity to meet borrowing country needs, comprised of the fol owing four elements:

· IBRD's target minimum equity-to-loans ratio was revised from 23 percent to 20 percent, reflecting
improvement in IBRD's portfolio credit quality since the previous target was adopted in 2008; as of
December 31, 2013, IBRD's equity-to-loans ratio was 25.8 percent;
· IBRD's Single Borrower Limit (SBL) was increased to $20 bil ion for India and $19 bil ion for other
SBL-eligible borrowing countries, with a surcharge of 50 basis points per annum on loan balances in
excess of the previous SBL ($17.5 bil ion for India and $16.5 bil ion for other SBL-eligible borrowing
countries) in order to help support the increase in the SBL;
· Commitment fees of 25 basis points per annum on undisbursed balances on IBRD loans wil be
restored, effective July 1, 2014; and
· The maximum maturity for most IBRD loans and guarantees wil be extended from the current limits of
30 years final/18 years average to 35 years final/20 years average, with the application of a revised
maturity premium schedule, effective July 1, 2014; the maturity premium charges wil increase, with the
starting point for these charges starting at 8 years average maturity rather than the prior level of 12 years
average maturity.

The Executive Directors also approved a new Equity Management Framework (EMF), which shares the
same objective as the equity duration extension strategy approved in 2007 - namely, to reduce the sensitivity
of IBRD's equity income to fluctuations in short-term interest rates. The EMF provides more flexibility to
manage equity income. In particular, the EMF al ows for the possibility of shortening the duration of
IBRD's equity, when warranted by market and macroeconomic conditions, whereas the equity duration
extension strategy required that duration be maintained within a range of 4 to 5 years. The EMF also
provides for a wider variety of tools and strategies for managing equity income than the equity duration
extension strategy. The Executive Directors approved Management's recommendation to maintain a short
duration for equity in the short-term, with the authority to enter into other approved strategies or
combinations thereof as market conditions warrant.
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.
RESPONSIBILITY
IBRD accepts responsibility for the information contained in these Final Terms.
Signed on behalf of IBRD:
By: .................................................................

Name:
Title:

Duly authorized