Obligation Africa Development Bank 2.2% ( XS2368153404 ) en CNY

Africa Development Bank

100 % ▲

Cote d'Ivoire

XS2368153404 ( en CNY )

2.2% par an ( paiement annuel )

01/08/2023 - Obligation échue

Prospectus brochure de l'obligation African Development Bank XS2368153404 en CNY 2.2%, échue

1 000 000 CNY

641 000 000 CNY

La Banque africaine de développement (BAD) est une institution financière de développement multilatérale qui ?uvre à réduire la pauvreté et à améliorer les conditions de vie en Afrique en finançant des projets de développement économique et social.

L'Obligation émise par Africa Development Bank ( Cote d'Ivoire ) , en CNY, avec le code ISIN XS2368153404, paye un coupon de 2.2% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 01/08/2023

Pricing Supplement dated 22 July 2021
AFRICAN DEVELOPMENT BANK
Global Debt Issuance Facility
for issues of Notes with maturities of one day or longer
Issue of CNH 641,000,000 2.20 per cent. Fixed Rate Notes due 1 August 2023
This document constitutes the Pricing Supplement relating to the issue of Notes described herein. This
Pricing Supplement constitutes Final Terms for the purposes of listing and trading Notes on the
Regulated Market of the Luxembourg Stock Exchange. Terms used herein shall be deemed to be
defined as such for the purposes of the Conditions set forth in the Information Memorandum dated 8
September 2009, as supplemented by the Supplemental Information Memorandum dated 16 January
2017 (as so supplemented, the Information Memorandum). This Pricing Supplement contains the
final terms of the Notes and must be read in conjunction with the Information Memorandum.
UK MiFIR product governance / Retail investors, professional clients and eligible counterparties
See item 39 below.

1.
Issuer:
African Development Bank
2.
(i) Series Number:
1006

(ii) Tranche Number:
1
3.
Specified Currency:
Offshore
Chinese
Yuan
Renminbi
(CNH)
4.
Aggregate Nominal Amount:

(i) Series:
CNH 641,000,000

(ii) Tranche:
CNH 641,000,000
5.
(i) Issue Price:
99.608 per cent. of the Aggregate
Nominal Amount

(ii) Net proceeds:
CNH 638,487,280
6.
Specified Denominations:
CNH
1,000,000
(the
Calculation
Amount) and integral multiples thereof
7.
(i) Trade Date:
16 July 2021
(ii) Issue Date:
26 July 2021

(iii) Interest Commencement Date:
Issue Date
8.
Maturity Date:
1 August 2023
9.
Interest Basis:
2.20 per cent. Fixed Rate
(further particulars specified below)
1

10.
Redemption/Payment Basis:
Redemption at par
11.
Change of Interest or Redemption/Payment Basis:
Not Applicable
12.
Put/Call Options:
Not Applicable
13.
Status of the Notes:
Senior
14.
Listing:
The regulated market of the Luxembourg
Stock Exchange for the purposes of
Directive 2014/65/EU on Markets in
Financial Instruments.
15.
Method of distribution:
Syndicated
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

16.
Fixed Rate Note Provisions
Applicable

(i) Rate of Interest:
2.20 per cent. per annum payable semi-
annually in arrear

(ii) Interest Payment Date(s):
1 February and 1 August in each year,
commencing on 1 August 2021, up to,
and including, the Maturity Date, subject
to adjustment in accordance with the
Modified
Following
Business
Day
Convention.
There will be a short first coupon from,
and
including
the
Interest
Commencement Date to, but excluding,
1 August 2021.

(iii) Fixed Coupon Amount:
Not Applicable

(iv) Broken Amount(s):
Not Applicable

(v) Day Count Fraction:
Actual/365 (Fixed)

(vi) Determination Date(s):
Not Applicable

(vii) Other terms relating to the method of Not Applicable
calculating interest for Fixed Rate Notes:

17.
Floating Rate Note Provisions
Not Applicable

18.
Zero Coupon Note Provisions
Not Applicable

19.
Index-Linked Interest Note Provisions
Not Applicable
20.
Dual Currency Interest Note Provisions
Not Applicable
2

21.
Variable Coupon Amount Notes
Not Applicable
PROVISIONS RELATING TO REDEMPTION

22.
Call Option
Not Applicable

23.
Put Option
Not Applicable

24.
Final Redemption Amount of each Note
CNH 1,000,000 per Calculation Amount
25.
Early Redemption Amount
As set out in the Conditions
Early Redemption Amount(s) of each Note
payable on event of default and/or the method of
calculating the same (if required or if different
from that set out in the Conditions):

26.
Variable Redemption Amount Notes
Not Applicable
GENERAL PROVISIONS APPLICABLE TO THE NOTES
27.
(a) Form of Notes:

Bearer Notes:
Not Applicable

Registered Notes:
Applicable

Registrar and Transfer Agents:
Registrar:
Citibank,
N.A.,
London
Branch,
Citigroup Centre, Canary Wharf, London
E14 5LB
Transfer Agent:
Banque Internationale à Luxembourg
société anonyme, 69 route d'Esch, L-
2953 Luxembourg
(i) DTC Application:

No
(ii)
Australian Domestic Notes:

No
(iii)
Held under the New Safekeeping

No
Structure:
(b) New Global Note (NGN):

No
28.
Relevant Financial Centre(s) or other special Beijing, Hong Kong, New York City and
provisions relating to Payment Dates:
London
For the purposes of Condition 6,
"Business Day" means a day (other than
3

Saturday
or
Sunday)
on
which
commercial banks and foreign exchange
markets settle payments and are open for
general business in Beijing, Hong Kong,
New York and London
29.
Talons for future Coupons to be attached to Not Applicable
Definitive Bearer Notes (and dates on which such
Talons mature):
30.
Details relating to Partly Paid Notes: amount of Not Applicable
each payment comprising the Issue Price and date
on which each payment is to be made and
consequences (if any) of failure to pay, including
any right of the Issuer to forfeit the Notes and
interest due on late payment:
31.
Details relating to Instalment Notes: amount of Not Applicable
each instalment, date on which each payment is to
be made:
32.
Redenomination,
renominalisation
and Not Applicable
reconventioning provisions:
33.
Consolidation provisions:
Not Applicable
34.
Other terms or special conditions:
For the purposes of the issue of the
Notes,
Condition
6
(Payments

Registered Notes) of the Terms and
Conditions of the Notes shall be deemed
to be amended to include the following
additional provisions:
In the event that the Specified Currency
is no longer used by the government of
the PRC for the payment of public and
private debts or used for settlement of
transactions by public institutions in the
PRC or, in the reasonable opinion of the
Calculation Agent in consultation with
the Issuer, is not expected to be available,
in each case, when any payment in the
Specified Currency under this Note is or
is expected to be due, as a result of
circumstances beyond the control of the
Issuer, (a Settlement Disruption Event),
the Issuer shall be entitled to satisfy its
obligations in respect of such payment in
the Specified Currency by making such
payment in U.S. Dollars (USD) on the
basis of the Spot Rate on the second
Business Day prior to the date of such
payment (each, a Determination Date).
Any payment made by the Issuer in USD
4

in accordance with the provisions of this
item 34, will constitute valid payment by
the Issuer and will discharge in full its
obligations under the Notes in respect of
such payment and will not constitute a
default in respect of the Notes.
Calculation Agent means The Toronto-
Dominion Bank, including its successors,
unless The Toronto-Dominion Bank fails
to perform any of its duties or obligations
as Calculation Agent, in which case the
Issuer or another entity appointed by it
will act as Calculation Agent.
PRC means the People's Republic of
China which, for the purpose of these
Conditions, shall exclude Hong Kong,
the
Macau
Special
Administrative
Region of the People's Republic of
China and Taiwan.
Refinitiv Screen means, when used in
connection with any designated page, the
display page so designated on the
Refinitiv Service (or any successor
service thereof).
Spot Rate means, in respect of any
Determination Date, the USD/CNY
official
fixing
rate
for
such
Determination Date as reported by the
Treasury Markets Association, Hong
Kong
(www.tma.org.hk)
as
its
USD/CNY (HK) spot rate on such
Determination Date ("CNY CNHHK" or
"CNY03") and appearing on Refinitiv
Screen "CNHFIX=" (or any successor
page) at approximately 11:30 a.m., Hong
Kong time, on such Determination Date.

If such rate cannot be so obtained as
outlined in the previous paragraph at
such time on the Determination Date, the
Spot Rate shall be the USD/CNY official
fixing rate for such Determination Date,
expressed as the amount of CNY per one
USD as authorised by the People's Bank
of China for reporting by the China
Foreign
Exchange
Trade
System
(CFETS) (www.chinamoney.com.cn) on
such Determination Date ("CNY SAEC"
or "CNY01") and appearing on Refinitiv
Screen "CNY= SAEC" opposite the
5

symbol "USDCNY=" (or any successor
page) at approximately 9:15 a.m., Beijing
time, on such Determination Date.

If such rate cannot be so obtained as
outlined in the previous paragraph at
such time on the Determination Date, the
Spot Rate shall be the USD/CNY official
fixing rate as published on the website of
the Singapore Foreign Exchange Market
Committee (SFEMC) (www.sfemc.org)
at approximately 3:30 p.m., Singapore
time, or as soon thereafter as practicable,
on such Determination Date as calculated
by SFEMC (or a service provider
SFEMC may select in its sole discretion)
pursuant to the SFEMC CNY Indicative
Survey Rate Methodology (which means
a methodology, dated as of 1 December
2004, as amended from time to time, for
a centralised industry-wide survey of
financial institutions that are active
participants in the USD/CNY markets for
the purpose of determining the SFEMC
CNY Indicative Survey Rate) ("SFEMC
CNY INDICATIVE SURVEY RATE"
or "CNY02").

If none of the above rates can be so
obtained on the Determination Date as
outlined in the above paragraphs, the
Calculation Agent will determine the
Spot Rate for the Determination Date, in
consultation with the Issuer, acting in
good faith and in a commercially
reasonable
manner,
taking
into
consideration all available information
that in good faith it deems relevant.

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
CNY01, CNY02 or CNY03 is replaced
by a successor price source for the
USD/CNY exchange rate in such Annex
A to the FX Definitions (each, a
Successor Price Source Definition), the
Spot Rate for the Determination Date
will be determined in accordance with
the relevant Successor Price Source
Definition without changing the order of
6

the Spot Rate determination outlined
above.
The Calculation Agent shall notify the
Issuer as soon as reasonably practicable
the method by which the Spot Rate is to
be determined.
35.
Governing law:
English Law
DISTRIBUTION

36.
(i) If syndicated, names of the Managers:
Not Applicable

(ii) Stabilising Manager (if any):
Not Applicable
37.
If non-syndicated, name of Dealer:
The Toronto-Dominion Bank
38.
Additional selling restrictions:
People's Republic of China:
The Manager has represented and agreed
that the Notes are not being offered or
sold and may not be offered or sold,
directly or indirectly, in the PRC, except
as permitted by the securities laws of the
PRC.
Hong Kong:
The Manager has represented and agreed
that it:
(a)
has not offered or sold, and will
not offer or sell, in Hong Kong,
by means of any document, the
Notes
other
than
(i)
to
"professional
investors"
as
defined in the Securities and
Futures Ordinance (Cap. 571) of
Hong Kong) (the SFO) and any
rules made under the SFO, or (ii)
in other circumstances which do
not result in the document being
a "prospectus" as defined in the
Companies (Winding Up and
Miscellaneous
Provisions)
Ordinance (Cap. 32) of Hong
Kong (the C(WUMP)O) or
which do not constitute an offer
to the public within the meaning
of the C(WUMP)O; and
(b)
has not issued or had in its
possession for the purposes of
7

issue, and will not issue or have
in its possession for the purposes
of issue, whether in Hong Kong
or elsewhere, any advertisement,
invitation or document relating
to the Notes, which is directed
at, or the contents of which are
likely to be accessed or read by,
the public in Hong Kong (except
if permitted to do so under the
securities laws of Hong Kong)
other than with respect to Notes
which are or are intended to be
disposed of only to persons
outside
Hong
Kong
or
"professional investors" as
defined in the SFO and any rules
made under the SFO.
39.
UK MiFIR product governance / Retail investors, The Issuer is not subject to Regulation
professional clients and eligible counterparties:
(EU) No 600/2014 as it forms part of
United Kingdom domestic law by virtue
of the European Union (Withdrawal) Act
2018 (the EUWA) (UK MiFIR) or the
requirements of an "investment firm",
"manufacturer" or "distributor" under the
FCA Handbook Product Intervention and
Product Governance Sourcebook (the
UK
MiFIR
Product
Governance
Rules). For the purposes of UK MiFIR,
The Toronto-Dominion Bank shall be
deemed the "manufacturer" in respect of
the Notes. Solely for the purposes of the
manufacturer's product approval process,
the target market assessment in respect of
the Notes has led to the conclusion that:
(i) the target market for the Notes is retail
investors (as defined in point (8) of
Article 2 of Regulation (EU) No
2017/565 as it forms part of domestic law
by virtue of the EUWA), eligible
counterparties (as defined in the FCA
Handbook
Conduct
of
Business
Sourcebook), and professional clients (as
defined in UK MiFIR); and (ii) all
channels for distribution of the Notes are
appropriate including investment advice,
portfolio management, non-advised sales
and pure execution services. Any person
subsequently
offering,
selling
or
recommending the Notes (a distributor)
should take into consideration the
manufacturer's target market assessment;
8

however, a distributor subject to the UK
MiFIR Product Governance Rules is
responsible for undertaking its own target
market assessment in respect of the Notes
(by either adopting or refining the
manufacturer's target market assessment)
and determining appropriate distribution
channels.
OPERATIONAL INFORMATION
40.
ISIN:
XS2368153404
41.
Common Code:
236815340
42.
Any clearing system(s) other than Euroclear and Not Applicable
Clearstream, Luxembourg and the relevant
identification number(s):

43.
Delivery:
Delivery against payment
44.
Changes to the Agent(s) (if any):
Not Applicable
45.
Applicable TEFRA Rules:
Not Applicable
46.
Additional United States Federal Income Tax Not Applicable
Consequences:
47.
Intended to be held in a manner that would allow No
Eurosystem eligibility:
9

LISTING APPLICATION
This Pricing Supplement comprises the final terms required for issue and admission to trading on the
Regulated Market of the Luxembourg Stock Exchange and admission to trading on the Official List of
the Luxembourg Stock Exchange of the Notes described herein pursuant to the Global Debt Issuance
Facility of the African Development Bank.
NO MATERIAL ADVERSE CHANGE
There has been no material adverse change in the financial position of the Issuer since 31 December
2020.
AUDITORS
The annual accounts of the Issuer for the financial years ended 31 December 2019 and 31 December
2020 have been audited by Deloitte & Associés.
RESPONSIBILITY
The Issuer accepts responsibility for the information contained in this Pricing Supplement.

Signed on behalf of African Development Bank:

By:
.....................................
Duly authorised