Obligation IBRD-Global 10% ( XS0859279498 ) en NGN

IBRD-Global

100 % ⇌

Etats-unis

XS0859279498 ( en NGN )

10% par an ( paiement annuel )

04/12/2013 - Obligation échue

Prospectus brochure de l'obligation IBRD XS0859279498 en NGN 10%, échue

150 000 000 NGN

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 IBRD (XS0859279498), émise aux États-Unis en NGN pour un montant total de 150 000 000, avec un taux d'intérêt de 10%, échéant le 04/12/2013 et payant des coupons annuellement, a atteint sa maturité et a été intégralement remboursée à 100%.

Final Terms dated 29 November 2012

International Bank for Reconstruction and Development

Issue of NGN 3,934,000,000 10.00 per cent. NGN/USD FX Linked Notes due 4 December 2013
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:
10872
(ii) Tranche Number:
1
3.
Specified Currency or Currencies
Nigerian Naira ("NGN") provided that all payments in respect
(Condition 1(d)):
of the Notes will be made in United States Dollars ("USD").
4.
Aggregate Nominal Amount:

(i)
Series:
NGN 3,934,000,000
(ii) Tranche:
NGN 3,934,000,000
5.
(i)
Issue Price:
100.00 per cent. of the Aggregate Nominal Amount.

(ii) Net Proceeds
USD 25,001,588.81 (equivalent to NGN 3,934,000,000
converted into USD at the initial exchange rate of NGN
157.35 per USD 1.00)
6.
(i)
Specified Denominations
NGN 20,000,000 and integral multiples of NGN 1,000,000 in
(Condition 1(b)):
excess thereof
(ii) Calculation Amount:
NGN 1,000,000
7.
Issue Date:
4 December 2012
8.
Maturity Date (Condition 6(a)):
4 December 2013 (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):
10.00 per cent. Fixed Rate
(further particulars specified below in Term 16)
10. Redemption/Payment Basis
FX Linked Redemption as set out in Term 17
(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:
Non-syndicated
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PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
16. Fixed Rate Note Provisions
Applicable
(Condition 5(a)):
(i)
Rate of Interest:
10.00per cent.
(ii) Interest Payment Dates:
4 June 2013 and 4 December 2013 (each 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:
NGN 49,842.80 per Calculation Amount to be paid on 4 June
2013 in USD, and calculated by the Calculation Agent on the
Rate Fixing Date as follows:
49,842.80 divided by NGN/USD Exchange Rate (as defined
below in Term 20); and
NGN 50,136.99 per Calculation Amount to be paid on 4
December 2013 in USD, and calculated by the Calculation
Agent on the Rate Fixing Date as follows:
50,136.99 divided by NGN/USD Exchange Rate (as defined
below in Term 20).
(iv) Broken Amount(s):
Not Applicable
(v) Day Count Fraction:
Actual/Actual (ISDA)
(vi) Other terms relating to the
See Term 19 (Disruption Provisions) and Term 20 (Additional
method of calculating interest
Definitions) below.
for Fixed Rate Notes:
PROVISIONS RELATING TO REDEMPTION
17. Final Redemption Amount of each

Note (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 Calculation Amount will
be payable in USD and calculated by the Calculation Agent on
the Rate Fixing Date as follows:
Calculation Amount divided by NGN/USD Exchange Rate (as
defined below in Term 20).
(ii)
Provisions for determining
See Term 19 below
Final 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 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
The Final Redemption Amount payable in USD as determined
(Condition 6(c)):
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 (i) the Scheduled Rate Fixing Date (as
defined in Term 20) becomes subject to the Following
Business Day Convention (as defined in Term 20) upon
the occurrence of an Unscheduled Holiday or (ii) Rate
Fixing Postponement applies, the relevant Scheduled
Interest Payment Date, Scheduled Maturity Date or Early
Redemption Payment Date, as applicable, shall be
postponed by each day for which the relevant Scheduled
Rate Fixing Date is so postponed.

(b) In the event (i) the Scheduled Rate Fixing Date becomes
subject to the Following Business Day Convention after
the occurrence of an Unscheduled Holiday or (ii) Rate
Fixing Postponement applies, and if the Rate Fixing Date
has not occurred on or before the 14th calendar day after
the Scheduled Rate Fixing Date (any such period being a
"Deferral Period") then:

(x)
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");
and

(y)
the Calculation Agent shall be entitled to determine
the NGN/USD Exchange Rate on such Postponed
Rate Fixing Date, acting in good faith and in a
commercially reasonable manner, having taken into
account all available information that it deems
relevant.

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.

(c) Notwithstanding anything herein to the contrary, in no
event shall the total number of consecutive calendar days
during which either (i) the Rating Fixing Date is
postponed due to an Unscheduled Holiday or (ii) a Rate
Fixing Postponement shall occur (or any combination of
(i) and (ii)), exceed 14 consecutive days in the aggregate.
Accordingly, (x) if, upon the lapse of any such 14 day
period, an Unscheduled Holiday shall have occurred or be
continuing on the day following such period, then such
day shall be deemed to be a Rate Fixing Date and (y) if,
upon the lapse of any such 14 day period, a Disruption
Event shall have occurred or be continuing on the day
following such period, then Rate Fixing Postponement
shall not apply and in each case, the NGN/USD Exchange
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Rate shall be determined in accordance with Term
19(b)(ii) above.

(d) If an event or a circumstance which would otherwise
constitute or give rise to an Inconvertibility Event also
constitutes a Price Source Disruption, it will be treated as
a Price Source Disruption and not an Inconvertibility
Event.

(e) The Calculation Agent shall in each case, as soon as
reasonably practicable, give notice, in accordance with
Condition 12, to the Paying Agent, IBRD and the
Clearing Systems of:

(i)
the occurrence of any Unscheduled Holiday or
Disruption Event; and
(ii)
the date on which an Unscheduled Holiday or a
Disruption Event ceases to exist and the Postponed
Rate Fixing Date (if any); and/or;
(iii)
the fact that the NGN/USD Exchange Rate is to be
determined by the Calculation Agent in accordance
with this Term 19.
Copies of all quotes obtained by the Calculation Agent
will be provided by the Calculation Agent to IBRD upon
request. For the avoidance of doubt, the NGN/USD
Exchange Rate may be such that the resulting USD
amount is zero and in such event no USD or NGN
amount will be payable. For the avoidance of doubt, the
resulting amount cannot in any circumstances be less than
zero, as applicable.
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 Lagos, London
and New York.
"Calculation Agent" means Citibank, N.A., London Branch
"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 IBRD
from time to time in relation to the Notes.
"Deferral Period": has the meaning given to it in Term 19
above.
"Disruption Event" means each and any of a Price Source
Disruption, 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.
"EMTA NGN Indicative Survey Rate" means the
NGN/USD specified rate for USD expressed as the amount of
NGN per one USD, for settlement in two Business Days, as
published on EMTA's website (www.emta.org) at
approximately 12:00 p.m., Lagos time, or as soon thereafter as
practicable, on the Rate Fixing Date. The spot rate shall be
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calculated by EMTA (or a service provider EMTA may select
in its sole discretion) pursuant to the EMTA NGN Indicative
Survey Rate Methodology (which means a methodology dated
as of 27 December 2010, as amended from time to time, for a
centralized industry-wide survey of financial institutions that
are active participants in NGN/USD markets for the purpose
of determining the EMTA NGN Indicative Survey Rate).
"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 (1) the convertibility of NGN into USD
through customary legal channels, or (2) the transfer of
NGN (a) from the Federative Republic of Nigeria
("Nigeria") to any other country or (b) between
accounts in Nigeria or to a party that is a non-resident
of Nigeria (including, without limitation, any delay,
increased costs, discriminatory rates of exchange or
current or future restrictions on the conversion of
NGN into USD or transferability of NGN outside
Nigeria or to non-residents of Nigeria)
(ii)
results in the unavailability of NGN in the interbank
foreign exchange market in accordance with normal
commercial practice,
and in each case, which affects the ability of market
participants to enter into, maintain, unwind or dispose of any
transaction(s) or asset(s) that are used in the market to hedge
the currency risk arising from the exchange rate movements
between NGN and USD.
"Lagos 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 Lagos.
"Market Disruption Event" means any event, other than an
Inconvertibility Event and a Price Source Disruption, 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:
(a)
a natural or man-made disaster, armed conflict, act of
terrorism, riot, labour disruption or any other
circumstance beyond its control; or
(b)
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,
and in each case, which affects the ability of market
participants to enter into, maintain, unwind or dispose of any
transaction(s) or asset(s) that are used in the market to hedge
the currency risk arising from the exchange rate movements
between NGN and USD.

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"NGN/USD Exchange Rate" means the spot currency
exchange rate (expressed as the amount of NGN for one USD)
determined by the Calculation Agent on the relevant Rate
Fixing Date by reference to the "NGN FMDA Rate" or
"NGN01 Rate" or, in the event the "NGN FMDA Rate" or
"NGN01 Rate" is not available on the relevant Rate Fixing
Date, by reference to the applicable "EMTA NGN Indicative
Survey Rate", and, if applicable, in the event of an
Unscheduled Holiday or a Disruption Event, in accordance
with the provisions of Term 19 above.
"NGN FMDA Rate" or "NGN01 Rate" each means, in
respect of a Rate Fixing Date, the NGN/USD specified rate
expressed as the amount of NGN per one USD for settlement
in two Business Days reported by the Financial Market
Dealers Association of Nigeria, which is published at
www.fmda.com.ng (and which may appear at Thomson
Reuters Screen NIFEX01) at or around 10:00 am Lagos time
on such Rate Fixing Date. For the avoidance of doubt, if there
is any discrepancy between the rate published at
www.fmda.com.ng and Thomson Reuters Screen NIFEX01,
the rate published at www.fmda.com.ng shall prevail.
In the event that the "NGN FMDA Rate" is not available on
the applicable Rate Fixing Date, the Calculation Agent shall
determine the NGN/USD Exchange Rate by reference to the
applicable "EMTA NGN Indicative Survey Rate" (if such rate
is available).
"Postponed Rate Fixing Date" has the meaning given to it in
Term 19 above.
"Price Source Disruption" means in respect of a Rating
Fixing Date, it becomes impossible to obtain both the NGN
FMDA Rate and the EMTA NGN Indicative Survey Rate on
such date.
"Rate Fixing Date" means the day that is five 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,
the Scheduled Rate Fixing Date in question shall be adjusted
in accordance with (i) the Following Business Day
Convention (subject to the Disruption Provisions set forth
above) in the event of an Unscheduled Holiday and/or (ii)
Rate Fixing Postponement in the event of a Disruption Event.
"Rate Fixing Postponement" means, for the purposes of
obtaining the NGN/USD Exchange Rate in the event of a
Disruption Event, that the NGN/USD Exchange Rate will be
determined on the Business Day first succeeding the day on
which the Disruption Event ceases to exist.
"Unscheduled Holiday" means a day that is not a Lagos
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. Lagos time two Lagos Business Days prior to the
Scheduled Rate Fixing Date.

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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
Lagos, London and New York
provisions relating to payment dates
(Condition 7(h)):
24. Governing law (Condition 14):
English
25. Other final terms:
Not Applicable
DISTRIBUTION
26. (i) If syndicated, names of
Not Applicable
Managers and underwriting
commitments:
(ii) Stabilizing Manager(s) (if any):
Not Applicable
27. If non-syndicated, name of Dealer:
Standard Chartered Bank
28. Total commission and concession:
None
29. Additional selling restrictions:
Nigeria
Neither the Prospectus, these Final Terms nor the Notes has
been registered with the Nigerian Securities and Exchange
Commission or any other regulatory authority in Nigeria. The
Notes shall not be offered for circulation, distribution,
placement, sale, purchase or other transfer in the territory of
Nigeria. Nothing in this document or any other documents,
information or communications related to the Notes shall be
interpreted as containing any offer or invitation to, or
solicitation of, any such circulation, distribution, placement,
sale, purchase or other transfer in the territory of Nigeria.
OPERATIONAL INFORMATION

30. ISIN Code:
XS0859279498
31. Common Code:
085927949
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 allow Eurosystem
eligibility:

GENERAL INFORMATION
IBRD's most recent Information Statement was issued on 19 September 2012.

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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

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