Obligation IBRD-Global 2.9% ( XS1035748380 ) en MXN

IBRD-Global

100 % ▲

Etats-unis

XS1035748380 ( en MXN )

2.9% par an ( paiement annuel )

24/08/2015 - Obligation échue

Prospectus brochure de l'obligation IBRD XS1035748380 en MXN 2.9%, échue

375 000 000 MXN

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 MXN, avec le code ISIN XS1035748380, paye un coupon de 2.9% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 24/08/2015

Final Terms dated 19 February 2014
International Bank for Reconstruction and Development

Issue of MXN 375,000,000 2.875 per cent. Notes due 24 August 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:
11044
(ii) Tranche Number:
1
3. Specified Currency or Currencies Mexican Peso ("MXN")
(Condition 1(d)):
4. Aggregate Nominal Amount:

(i) Series:
MXN 375,000,000
(ii) Tranche:
MXN 375,000,000
5. Issue Price:
99.960 per cent. of the Aggregate Nominal Amount
6. Specified Denomination
MXN 10,000
(Condition 1(b)):
7. Issue Date:
24 February 2014
8. Maturity Date (Condition 6(a)):
24 August 2015
9. Interest Basis (Condition 5):
2.875 per cent. Fixed Rate
(further particulars specified below in Term 16)
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
Unsecured and unsubordinated
(Condition 3):
14. Listing:
Luxembourg Stock Exchange
15. Method of distribution:
Non-syndicated
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
16. Fixed Rate Note Provisions
Applicable
(Condition 5(a)):
(i) Rate of Interest:
2.875 per cent. per annum payable annually in arrear
(ii) Interest Payment Dates:
24 August 2014 and 24 August 2015

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(iii) Fixed Coupon Amount:
MXN 287.50 per Specified Denomination
(iv) Broken Amount(s):
MXN 142.57 per Specified Denomination payable on 24
August 2014
(v) Day Count Fraction
Actual/Actual (ICMA)

(Condition 5(l)):
(vi) Other terms relating to the
Not Applicable
method of calculating
interest for Fixed Rate
Notes:
PROVISIONS RELATING TO REDEMPTION
17. Final Redemption Amount of
MXN 10,000 per Specified Denomination
each 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
London, New York and Mexico City
special provisions relating to
payment dates (Condition 7(h)):
22. Governing law (Condition 14):
English
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
J.P. Morgan Securities plc
Dealer:
26. Total commission and
0.125 per cent. combined management and underwriting
concession:
commission
27. Additional selling restrictions:
Mexico
The Notes have not been and wil not be registered with
the National Registry of Securities, maintained by the
Mexican National Banking Commission and, as a result,
may not be offered or sold publicly in Mexico. The Dealer
may offer and sel the Notes in Mexico, to Institutional and
Accredited Investors, on a private placement basis,
pursuant to Article 8 of the Mexican Securities Market
Law.
OPERATIONAL INFORMATION

28. ISIN Code:
XS1035748380
29. Common Code:
103574838
30. Delivery:
Delivery against payment
2

31. Registrar and Transfer Agent (if
Citibank, N.A., London Branch
any):
32. 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 shall 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 pursuant to the Global Debt Issuance Facility of the
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
4

Document Outline

Final Terms dated 19 February 2014