Obligation IBRD-Global 2% ( XS2111947664 ) en CLP

IBRD-Global

100 % ⇌

Etas-Unis

XS2111947664 ( en CLP )

2% par an ( paiement annuel )

31/01/2025 - Obligation échue

Prospectus brochure de l'obligation IBRD XS2111947664 en CLP 2%, échue

1 000 000 CLP

3 900 000 000 CLP

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 (XS2111947664), émise aux États-Unis en CLP pour un montant total de 3 900 000 000, avec un taux d'intérêt de 2 %, une taille minimale d'achat de 1 000 000, et échéant le 31/01/2025, a été intégralement remboursée à son échéance à un prix de marché de 100 %, les paiements d'intérêt ayant été effectués à une fréquence annuelle.

Final Terms dated 28 January 2020

International Bank for Reconstruction and Development

Issue of CLP 3,900,000,000 2.00 per cent. Notes due 31 January 2025
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:
101077

(ii)
Tranche Number:
1
3.
Specified Currency or Currencies
Chilean Peso ("CLP"), being the lawful currency of Chile,
(Condition 1(d)):
provided that all payments in respect of the Notes will be
made in United States Dollars ("USD")

4.
Aggregate Nominal Amount:

(i)
Series:
CLP 3,900,000,000

(ii)
Tranche:
CLP 3,900,000,000
5.
(i)
Issue Price:
100 per cent. of the Aggregate Nominal Amount
(ii)
Net proceeds:
CLP 3,900,000,000 (equivalent to USD 5,072,972.76 at the
CLP/USD exchange rate of CLP 768.78 per USD 1.00)
6.
Specified Denomination
CLP 1,000,000 and integral multiples thereof

(Condition 1(b)):
7.
Issue Date:
31 January 2020
8.
Maturity Date (Condition 6(a)):
31 January 2025
9.
Interest Basis (Condition 5):
2.00 per cent. per annum Fixed Rate
(further particulars specified in Term 16 below)
10.
Redemption/Payment Basis
Redemption at par, payable in USD
(Condition 6):
(further particulars specified in Term 17 below)
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
1

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:
2.00 per cent. per annum payable annually in arrear
(ii)
Interest Payment Date(s):
31 January in each year, from and including 31 January
2021 to and including the Maturity Date, not subject to
adjustment in accordance with a Business Day Convention
(iii) Interest Period Date(s):
Each Interest Payment Date
(iv) Business Day Convention:
Not Applicable
(v)
Fixed Coupon Amount(s):
The Fixed Coupon Amount for the relevant Interest Period
shall be CLP 20,000 per Specified Denomination payable
in USD and determined by the Calculation Agent on the
applicable CLP Valuation Date by applying the following
formula:
CLP 20,000 divided by the CLP Rate (as defined
in Term 17 below) on such CLP Valuation Date
(vi) Day Count Fraction
30/360
(Condition 5(l)):
(vii) Other terms relating to the
See Term 17 below
method of calculating interest
for Fixed Rate Notes:
PROVISIONS RELATING TO REDEMPTION
17.
Final Redemption Amount of each
CLP 1,000,000 per Specified Denomination payable in
Note (Condition 6):
USD, as determined by the Calculation Agent on the CLP

Valuation Date immediately prior to the Maturity Date by
applying the following formula:
Specified Denomination divided by the CLP
Rate on such CLP Valuation Date.
Where:
"Bloomberg Screen" means, when used in connection
with any designated page, the display page so designated
on the Bloomberg service.
"Business Day" means a day (other than a Saturday or a
Sunday) on which commercial banks and foreign exchange
markets settle payments and are open for general business
(including dealings in foreign exchange and foreign
currency deposits) in London, New York and Santiago.
2

"Calculation Agent" means Citibank, N.A., London
Branch, or its duly appointed successor.
"CLP Rate" means, in respect of a CLP Valuation Date,
the CLP/USD "observado" exchange rate, expressed as the
amount of CLP per one USD, for settlement in one
Business Day, reported by the Banco Central de Chile
(Central Bank of Chile) (www.bcentral.cl) as the "Dólar
Observado" rate by not later than 10:30 a.m., Santiago
time, on the first Business Day following that CLP
Valuation Date ("CLP DÓLAR OBS"). CLP DÓLAR
OBS is currently published on Thomson Reuters Screen
CLPOB= below the caption "Value" and on Bloomberg
Screen FIXI appearing under the heading "Emerging
Markets Fixings" on the relevant CLP Valuation Date.
If Annex A to the 1998 FX and Currency Option
Definitions published by the International Swaps and
Derivatives Association, Inc., the Emerging Markets
Traders Association and the Foreign Exchange Committee
(the "FX Definitions") is amended such that CLP DÓLAR
OBS is replaced by a successor price source for the
USD/CLP exchange rate in such Annex A to the FX
Definitions (the "Successor Price Source Definition"),
then the CLP Rate for the applicable CLP Valuation Date
will be determined in accordance with such Successor
Price Source Definition.
If the CLP Rate cannot be determined in accordance with
the preceding paragraphs for such CLP Valuation Date,
then the CLP Rate shall be determined by the Calculation
Agent by requesting five Reference Banks (selected by the
Calculation Agent at its sole discretion) for their mid-
market quotations of the USD/CLP exchange rate at
approximately 10:30 a.m., Santiago time, for such CLP
Valuation Date.
If five or four quotations are provided as requested, the
CLP Rate will be the arithmetic mean (rounded to the
nearest whole CLP 0.5 being rounded upwards) of the
remaining three or two such quotations, as the case may be,
for such rate provided by the Reference Banks, after
disregarding the highest such quotation and the lowest such
quotation (provided that, if two or more such quotations are
the highest such quotations, then only one of such
quotations shall be disregarded, and if two or more such
quotations are the lowest quotations, then only one of such
lowest quotations will be disregarded).
If only three or two such quotations are provided as
requested, the CLP Rate shall be determined as described
3

above except that the highest and lowest quotations will not
be disregarded.
If none or only one of the Reference Banks provides such
quotation, the CLP Rate will be determined by the
Calculation Agent in its sole discretion, acting in good faith
and in a commercially reasonable manner, having taken
into account relevant market practice, by reference to such
additional sources as it deems appropriate.
The Calculation Agent shall notify the Issuer as soon as
reasonably practicable that the CLP Rate is to be so
determined.
"CLP Valuation Date" means the day that is five (5)
Business Days prior to each Interest Payment Date, the
Maturity Date or the date upon which the Notes become
due and payable as provided in Condition 9, as applicable
(the "Scheduled CLP Valuation Date"). If such
Scheduled CLP Valuation Date falls on an Unscheduled
Holiday, the CLP Valuation Date shall be the next
following Business Day; provided, that if such next
following day that would have been a Business Day is also
an Unscheduled Holiday, then the CLP Valuation Date
shall be such second Unscheduled Holiday. If an
Unscheduled Holiday occurs between any CLP Valuation
Date and the relevant Interest Payment Date, the Maturity
Date or the date upon which the Notes become due and
payable as provided in Condition 9, as applicable, such
CLP Valuation Date shall not be subject to any
postponement or adjustment.
"Reference Banks" means five major banks in the Chilean
interbank market selected by the Calculation Agent.
"Santiago Business Day" means a day (other than a
Saturday or a Sunday) on which commercial banks and
foreign exchange markets settle payments and are open for
general business (including dealings in foreign exchange
and foreign currency deposits) in Santiago.
"Thomson Reuters Screen" means, when used in
connection with any designated page, the display page so
designated on the Thomson Reuters service.
"Unscheduled Holiday" means a day that is not a Santiago
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. local time in Santiago two (2) Santiago Business
Days prior to the relevant CLP Valuation Date.
4

18.
Early Redemption Amount
The Final Redemption Amount per Specified
(Condition 6(c)):
Denomination as determined in accordance with Term 17

above plus accrued and unpaid interest, if any, as
determined in accordance with Term 16 above, save that
the CLP Rate shall be determined by the Calculation Agent
on the day that is five (5) Business Days prior to the day on
which the Early Redemption Amount shall be due and
payable (an "Early Redemption CLP Valuation Date")
and all the references to "CLP Valuation Date" shall be
deemed to be replaced by "Early Redemption CLP
Valuation Date".
GENERAL PROVISIONS APPLICABLE TO THE NOTES
20.
Form of Notes (Condition 1(a)):
Registered Notes:

Global Registered Certificate available on Issue Date
21. New Global Note:
No
22. Financial Centre(s) or other special
London, New York and Santiago
provisions relating to payment dates
(Condition 7(h)):
23. Governing law (Condition 14):
English
24.
Other final terms:
The first sentence of Condition 7(a)(ii) is hereby replaced
by the following: "Interest (which for the purpose of this
Condition 7(a) shall include all Instalment Amounts other
than final Instalment Amounts) on Registered Notes shall
be paid to the person shown on the Register at the close of
business on the calendar day before the due date for
payment thereof (the "Record Date")".
25.
Additional risk factors:
An investment in the Notes is subject to the risks
described below, as well as the risks described under
"Risk Factors" in the accompanying Prospectus.
Because the Notes are denominated in CLP and payable in
USD, the Noteholders will be exposed to currency
exchange rate risks with respect to such currencies.
Changes in exchange rates relating to any of the currencies
involved may result in a decrease in the effective yield of
the Notes and, in certain circumstances, could result in a
loss of all or a substantial portion of the principal of the
Notes (including the Final Redemption Amount). For
example, if, on any CLP Valuation Date, CLP has
appreciated in value against USD, the payment in USD will
be higher. Conversely, a depreciation in value of CLP
against USD will have the opposite impact. Furthermore,
since the Noteholders will receive payments on the Notes
only on the Interest Payment Dates (including the Maturity
Date), the Noteholders will not benefit from favourable
5

changes in exchange rates at any other time during the term
of the Notes.
Exchange rate movements for a particular currency are
volatile and are the result of numerous factors. A
Noteholder's net exposure will depend on the extent to
which the payment currency (USD) strengthens or weakens
against the denominated currency (CLP).
In addition, the Noteholders whose financial activities are
denominated principally in a currency (the "Investor's
Currency") other than any of the Specified Currencies,
will also be exposed to currency exchange rate risk that are
not associated with a similar investment in a security
denominated or paid in that Investor's Currency. For more
information, please see "Risk FactorsNotes are subject
to exchange rate and exchange control risks if the
investor's currency is different from the Specified
Currency" in the accompanying Prospectus.
DISTRIBUTION
26. (i)
If syndicated, names of
Not Applicable
Managers and underwriting
commitments:
(ii)
Stabilizing Manager(s) (if
Not Applicable
any):
27.
If non-syndicated, name of Dealer:
BNP Paribas
28.
Total commission and concession:
Not Applicable
29.
Additional selling restrictions:
Republic of Chile
The Notes may not be offered or sold in Chile, directly or
indirectly, by means of a "Public Offer" (as defined under
Chilean Securities Law (Law No 18.045 and Regulations
from the Superintendencia de Valores y Seguros of the
Republic of Chile)). Chilean institutional investors (such as
banks, pension funds and insurance companies) are
required to comply with specific restrictions relating to the
purchase of the Notes.
OPERATIONAL INFORMATION
30.
ISIN Code:
XS2111947664
31. Common Code:
211194766
32. Delivery:
Delivery against payment
33. Registrar and Transfer Agent
Citibank, N.A., London Branch
(if any):
6

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 September 24, 2019.

USE OF PROCEEDS

Supporting sustainable development in IBRD's member countries

The net proceeds from the sale of the Notes will be used by IBRD to finance sustainable
development projects and programs in IBRD's member countries (without being committed or
earmarked for lending to, or financing of, any particular projects or programs). Prior to use, the net
proceeds will be invested by IBRD's Treasury in accordance with IBRD's liquid asset management
investment policies. IBRD's financing is made available solely to middle-income and creditworthy
lower-income member countries who are working in partnership with IBRD to eliminate extreme
poverty and boost shared prosperity, so that they can achieve equitable and sustainable economic
growth in their national economies and find sustainable solutions to pressing regional and global
economic and environmental problems. Projects and programs supported by IBRD are designed to
achieve a positive social impact and undergo a rigorous review and internal approval process aimed
at safeguarding equitable and sustainable economic growth.

IBRD integrates five cross cutting themes into its lending activities helping its borrowing members
create sustainable development solutions: climate change; gender; jobs; public-private
partnerships; and fragility, conflict and violence.

IBRD's administrative and operating expenses are covered entirely by IBRD's various sources of
revenue (net income) consisting primarily of interest margin, equity contribution and investment
income (as more fully described in the Information Statement).

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.

7

RESPONSIBILITY

IBRD accepts responsibility for the information contained in these Final Terms.

Signed on behalf of IBRD:

By:
........................................................
Name:
Title:
Duly authorized

8