Obligation IBRD-Global 8.5% ( XS0618993322 ) en ZMW

IBRD-Global

100 % ▼

Etats-unis

XS0618993322 ( en ZMW )

8.5% par an ( paiement annuel )

11/04/2014 - Obligation échue

Prospectus brochure de l'obligation IBRD XS0618993322 en ZMW 8.5%, échue

/

100 000 000 000 ZMW

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.

Une obligation au code ISIN XS0618993322, émise par l'International Bank for Reconstruction and Development (IBRD), entité membre du Groupe de la Banque mondiale dont la mission est de réduire la pauvreté et de soutenir le développement durable dans les pays à revenu intermédiaire et les pays à faible revenu solvables via l'octroi de prêts et d'assistance, a été émise aux États-Unis pour une taille totale de 100 milliards d'unités en kwacha zambien (ZMW) et offrait un taux d'intérêt annuel de 8,5% avec une fréquence de paiement annuelle, cette émission étant arrivée à maturité le 11 avril 2014 et ayant été intégralement remboursée à sa valeur nominale de 100% à cette date, clôturant ainsi son cycle de vie d'investissement.

Final Terms dated 18 April 2011

International Bank for Reconstruction and Development

Issue of ZMK 100,000,000,000 8.50 per cent. USD/ZMK FX Linked Notes due 11 April 2014
payable in United States Dollars

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:
10603
(ii) Tranche Number:
1
3. Specified Currency or Currencies
Zambian Kwacha ("ZMK") provided that all payments in
(Condition 1(d)):
respect of the Notes will be made in United States Dollars
("USD").
4. Aggregate Nominal Amount:

(i) Series:
ZMK 100,000,000,000
(ii) Tranche:
ZMK 100,000,000,000
5. (i) Issue Price:
100.815 per cent. of the Aggregate Nominal Amount.
(ii) Net Proceeds
USD 21,247,863.25 (equivalent to ZMK 99,440,000,000
converted into USD at the initial exchange rate of ZMK
4,680 per USD 1.00)
6. Specified Denominations (Condition
ZMK 1,000,000
1(b)):
7. Issue Date:
20 April 2011
8. Maturity Date (Condition 6(a)):
11 April 2014 (the "Scheduled Maturity Date") as may
be postponed subject to the Disruption Provisions set out
in Terms 19 and 20
9. Interest Basis (Condition 5):
8.50 per cent. Fixed Rate
(further particulars specified below in Term 16)
10. Redemption/Payment Basis (Condition
USD/ZMK FX Linked Redemption as set out in Term 17
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:
Non-syndicated
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PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
16. Fixed Rate Note Provisions (Condition
Applicable
5(a)):
(i) Rate of Interest:
8.50 per cent. per annum payable annually in arrear
(ii) Interest Payment Dates:
11 April 2012, 11 April 2013 and 11 April 2014 (each
such date a "Scheduled Interest Payment Date"),
subject to postponement as provided in Terms 19 and 20,
with no additional interest amount or other amount
payable in relation to such postponement.
(iii) Fixed Coupon Amount:
ZMK 85,000 per Specified Denomination to be paid on
the Scheduled Interest Payment Dates in USD, and
calculated by the Calculation Agent as follows:
ZMK 85,000 divided by USD/ZMK Exchange Rate (as
defined below in Term 20).
(iv) Initial Broken Amount:
ZMK 82,909.84 per Specified Denomination to be paid
on the Scheduled Interest Payment Date falling in April
2012 in USD, and calculated by the Calculation Agent as
follows:
ZMK 82,909.84 divided by USD/ZMK Exchange Rate (as
defined below in Term 20).
(v) Day Count Fraction:
Actual/Actual (ICMA)
(vi) Other terms relating to the method
See Term 19 (Disruption Provisions) and Term 20
of calculating interest for Fixed
(Additional Definitions) below.
Rate Notes:
PROVISIONS RELATING TO REDEMPTION
17. Final Redemption Amount of each Note
ZMK 1,000,000 per Specified Denomination
(Condition 6):

In cases where the Final Redemption

Amount is Index Linked or other variable-
linked:
(i)
Index/Formula/variable
The Final Redemption Amount per Specified
Denomination will be payable in USD and calculated by
the Calculation Agent as follows:
Specified Denomination divided by USD/ZMK Exchange
Rate (as defined below in Term 20).
(ii) Provisions for determining Final
See Term 19 below
Redemption Amount where
calculation by reference to Index
and/or Formula and/or other
variable is impossible or
impracticable or otherwise
disrupted:
(iii) Payment Date:
The Scheduled Maturity Date (as defined above in Term
8) subject to postponement in accordance with Terms 19
and 20 with no additional amounts payable in relation to
such postponement.

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18. Early Redemption Amount (Condition
The Final Redemption Amount payable in USD as
6(c)):
determined in accordance with Term 17 above (plus

accrued interest to, but excluding, the date of early
redemption).
DISRUPTION PROVISIONS AND ADDITIONAL DEFINITIONS
19. Disruption Provisions:
(a) In the event the Scheduled Rate Fixing Date (as
defined below in Term 20) becomes subject to the
Following Business Day Convention (as defined
below in Term 20) upon the occurrence of an
Unscheduled Holiday or a Disruption Event, and the
Rate Fixing Date has not occurred on or before the
30th consecutive day after the Scheduled Rate Fixing
Date (any such period being a "Deferral Period")
then:

(i)
The next day after the Deferral Period that

would have been a Business Day but for the

Unscheduled Holiday, or the next day after

the Deferral Period that is a Business Day

in the event of a continuing Disruption Event,

shall be deemed to be the Rate Fixing Date

(the "Postponed Rate Fixing Date").

(ii) The relevant Scheduled Interest Payment

Date or Scheduled Maturity Date or Early

Redemption Payment Date, as applicable,

shall be postponed by one day for each day

that the Scheduled Rate Fixing Date is

postponed as set forth above.

(iii) For the avoidance of doubt, no additional

interest or other additional amounts shall be

payable by IBRD in the event that the

relevant Scheduled Interest Payment Date

or Scheduled Maturity Date or Early

Redemption Payment Date, as applicable, is

postponed in accordance with this Term 19.

(b) The Calculation Agent shall give notice to the
Noteholders in accordance with Condition 12 and to
the Paying Agent, IBRD and the Clearing Systems
of:

(i)
the occurrence of such postponement; and
(ii) the Postponed Rate Fixing Date;

in each case, as soon as reasonably practicable
thereafter.
20. Additional Definitions
"Business Day" means a day (other than a Saturday or
Sunday) on which the banks and foreign exchange
markets are open for general business (including dealings
in foreign exchange and foreign currency deposits) in
Johannesburg, London, Lusaka, and New York.
"Calculation Agent" means J. P. Morgan Chase Bank,
N.A., London.
"Clearing Systems" means Euroclear Bank S.A./N.V.,
Clearstream Banking, société anonyme and any successor
or alternative clearing system(s) as may be appointed by
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the Issuer from time to time in relation to the Notes.
"Deferral Period": has the meaning given to it in Term
19 above.
"Disruption Event" means either or both of an
Inconvertibility Event or a Market Disruption Event.
"Early Redemption Payment Date" means, in relation
to redemption of a Note pursuant to Condition 9, the day
on which the Note becomes due and payable in
accordance with the terms of such Condition 9.
"Inconvertibility Event" means in the sole and absolute
determination of the Calculation Agent any action, event
or circumstance whatsoever which from a legal or
practical perspective:
(i)
has the direct or indirect effect of hindering,
limiting or restricting the convertibility of ZMK into USD
through customary legal channels, or the transfer of ZMK
from the Republic of Zambia to any other country
(including, without limitation, any delay, increased costs,
discriminatory rates of exchange or current or future
restrictions on repatriation of ZMK into USD); and/or
(ii)
results in the unavailability of ZMK in the inter-
bank foreign exchange market in accordance with normal
commercial practice.
"Market Disruption Event" means any event, other than
an Inconvertibility Event, as a result of which the
Calculation Agent is unable to determine any amount
falling to be determined by it in respect of the Notes,
which event shall include, without limitation:
(i)
a natural or man-made disaster, armed conflict,
act of terrorism, riot, labour disruption or any other
circumstance beyond its control; or
(ii)
the
enactment,
promulgation,
execution,
ratification or adoption of, or any change in or
amendment to, any rule, law, regulation or statute (or in
the applicability or official interpretation of any rule, law,
regulation or statute) or the issuance of any order or
decree.
"USD/ZMK Exchange Rate" means the USD/ZMK
currency exchange spot rate (expressed as the amount of
ZMK for one USD) determined by the Calculation Agent
on the basis of firm quotations, for sale of ZMK and
purchase of USD (where the USD is payable outside of
Zambia), provided by three Reference Market Dealers as
purchaser of ZMK and seller of USD in an amount
corresponding to the relevant Interest Amount, the Final
Redemption Amount or the Early Redemption Amount (as
the case may be) at 10:00a.m. (London time) (or such
other time as the Calculation Agent shall decide in its sole
and absolute discretion) on the relevant Rate Fixing Date.
The Calculation Agent shall calculate the USD/ZMK
Exchange Rate to be the arithmetic mean of such
quotations (rounded to the nearest one decimal point, with
0.05 per cent. being rounded up).
The Calculation Agent shall be entitled to determine the
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USD/ZMK Exchange Rate, acting in good faith and in a
commercially reasonable manner having taken into
account relevant market practice if:
(i)
on the relevant Rate Fixing Date less than three
Reference Market Dealers provide a quotation as set forth
above;
(ii)
there has occurred or is subsisting a Disruption
Event on the Postponed Rate Fixing Date, or
(iii)
the Postponed rate Fixing Date is an Unscheduled
Holiday.
The Calculation Agent shall notify the Issuer as soon as
reasonably practical that the USD/ZMK Exchange Rate is
to be so determined. Copies of all quotes obtained by the
Calculation Agent will be provided by the Calculation
Agent to the Issuer upon request. For the avoidance of
doubt, the USD/ZMK Exchange Rate may be such that
the resulting USD amount is zero and in such event no
USD or ZMK amount will be payable.
"Postponed Rate Fixing Date" has the meaning given to
it in Term 19 above.
"Rate Fixing Date" means the day that is five (5)
Business Days prior to the relevant Scheduled Interest
Payment Date or Scheduled Maturity Date or Early
Redemption Payment Date, as applicable ("Scheduled
Rate Fixing Date"), provided that, in the event of an
Unscheduled Holiday or there has occurred or is
subsisting on such date a Disruption Event, the Scheduled
Rate Fixing Date in question shall be adjusted in
accordance with the Following Business Day Convention.
"Reference Market Dealers" means leading dealers,
banks or banking corporations which deal in ZMK,
selected by the Calculation Agent in its sole and absolute
discretion.
"Unscheduled Holiday" means a day that is not a
Johannesburg and Lusaka Business Day and the market
was not aware of such fact (by means of a public
announcement or by reference to other publicly available
information) until a time later than 9:00 a.m. Lusaka time
two Johannesburg and Lusaka Business Days prior to the
Scheduled Rate Fixing Date.
"Johannesburg and Lusaka Business Day" means a
day (other than a Saturday or Sunday) on which the banks
and foreign exchange markets are open for general
business (including dealings in foreign exchange and
foreign currency deposits) in Lusaka and Johannesburg.
GENERAL PROVISIONS APPLICABLE TO THE NOTES
21. Form of Notes (Condition 1(a)):
Registered Notes

Global Registered Certificate available on Issue Date
22. New Global Note:
No
23. Financial Centre(s) or other special
Johannesburg, London, Lusaka and New York
provisions relating to payment dates
(Condition 7(h)):
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24. Governing law (Condition 14):
English
25. Other final terms:
Not Applicable
DISTRIBUTION
26. (i) If syndicated, names of Managers
Not Applicable
and underwriting commitments:
(ii) Stabilizing Manager(s) (if any):
Not Applicable
27. If non-syndicated, name of Dealer:
J.P. Morgan Securities Ltd.
28. Total commission and concession:
1.375 per cent. of the Aggregate Nominal Amount
29. Additional selling restrictions:
Not Applicable
OPERATIONAL INFORMATION

30. ISIN Code:
XS0618993322
31. Common Code:
061899332
32. Delivery:
Delivery against payment
33. Registrar and Transfer Agent (if any):
Citibank, N.A., London Branch
34. Intended to be held in a manner which
No
would allow Eurosystem eligibility:

GENERAL INFORMATION
IBRD's most recent Information Statement was issued on 22 September 2010.

CONFLICT OF INTEREST
JPMorgan Chase Bank, N.A., the parent company of J.P. Morgan Securities Ltd. will be
Calculation Agent under the Notes and will also be IBRD's counterparty in a related swap
transaction entered into by IBRD in order to hedge its obligations under the Notes. The existence
of such multiple roles and responsibilities for JPMorgan Chase Bank, N.A. creates possible
conflicts of interest. For example, the amounts payable by JPMorgan Chase Bank, N.A. to IBRD
under the related swap transaction are expected, as of the Issue Date, to be calculated on the same
basis as the amounts payable by IBRD under the Notes. As a result, the determinations made by
JPMorgan Chase Bank, N.A. in its discretion as Calculation Agent for the Notes may affect the
amounts payable by JPMorgan Chase Bank, N.A. under the related swap transaction, and, in
making such determinations, JPMorgan Chase Bank, N.A. may have economic interests adverse to
those of the Noteholders. The Noteholder understands that although IBRD will enter into the
related swap transaction with JPMorgan Chase Bank, N.A. as swap counterparty in order to hedge
its obligations under the Notes, IBRD's rights and obligations under the related swap transaction
will be independent of its rights and obligations under the Notes, and Noteholders will have no
interest in the related swap transaction or any payment to which IBRD may be entitled thereunder.

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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RESPONSIBILITY
IBRD accepts responsibility for the information contained in these Final Terms.
Signed on behalf of IBRD:

By:

Name:
Title:

Duly Authorized

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