Obligation IBRD 5% ( XS2411536225 ) en IDR

IBRD

99.399 % ⇌

Etas-Unis

XS2411536225 ( en IDR )

5% par an ( paiement annuel )

30/11/2026

Prospectus brochure de l'obligation IBRD XS2411536225 en IDR 5%, échéance 30/11/2026

10 000 000 IDR

280 000 000 000 IDR

01/12/2024 ( Dans 197 jours )

L'Obligation émise par IBRD ( Etas-Unis ) , en IDR, avec le code ISIN XS2411536225, paye un coupon de 5% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 30/11/2026

Final Terms dated 24 November 2021
International Bank for Reconstruction and Development

Issue of IDR 280,000,000,000 5.00 per cent. Notes due 1 December 2026
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 September 24, 2021. This document constitutes the Final
Terms of the Notes described herein and must be read in conjunction with such Prospectus.
MiFID II product governance / Retail investors, professional investors and ECPs target market See
Term 28 below.
UK MiFIR product governance / Retail investors, professional investors and ECPs target market See
Term 29 below.
SUMMARY OF THE NOTES
1. Issuer:
International Bank for Reconstruction and Development
("IBRD")
2. (i)
Series number:
101451
(ii)
Tranche number:
1
3. Specified Currency or Currencies
The lawful currency of the Republic of Indonesia
(Condition 1(d)):
("Indonesian Rupiah" or "IDR"), provided that all
payments in respect of the Notes will be made in United
States Dollars ("USD")
4. Aggregate Nominal Amount

(i)
Series:
IDR 280,000,000,000
(ii)
Tranche:
IDR 280,000,000,000
5. (i)
Issue Price:
100 per cent. of the Aggregate Nominal Amount
(ii)
Net proceeds:
USD 19,711,369.24 (equivalent to IDR 280,000,000,000 at
the USD/IDR exchange rate of IDR 14,205 per USD 1.00)
6. Specified Denominations
IDR 10,000,000
(Condition 1(b)):
7. Issue Date:
1 December 2021
8. Maturity Date (Condition 6(a)):
1 December 2026, unless the corresponding FX Valuation
Date is postponed beyond the Scheduled FX Valuation Date
due to an Unscheduled Holiday or because a Price Source
Disruption in respect of the FX Rate has occurred, in which
case the Maturity Date shall be postponed to the fifth
Business Day after the date on which the FX Rate is
determined (further particulars specified below in Term
16(vii)). For the avoidance of doubt, no additional interest or
other additional amounts shall be payable by IBRD in the
event that the Maturity Date is so postponed.
9. Interest basis (Condition 5):
5.00 per cent. Fixed Rate
(further particulars specified below)

10. Redemption/Payment basis
Redemption at par, payable in USD
(Condition 6):
(further particulars specified 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
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:
5.00 per cent. per annum payable annually in arrear
(ii)
Interest Payment Date(s):
1 December in each year, from and including 1 December
2022 to and including the Maturity Date, unless the
corresponding FX Valuation Date is postponed beyond the
Scheduled FX Valuation Date due to an Unscheduled
Holiday or because a Price Source Disruption in respect of
the FX Rate has occurred, in which case the Interest Payment
Date shall be postponed to the fifth Business Day after the
date on which the FX Rate is determined (further particulars
specified below in Term 16(vii)).
For the avoidance of doubt, no additional interest or other
additional amounts shall be payable by IBRD in the event
that the relevant Interest Payment Date is so postponed.
(iii)
Interest Period Date(s):
1 December in each year, from and including 1 December
2022 to and including the Maturity Date, not subject to
adjustment in accordance with a Business Day Convention
(iv)
Business Day Convention:
Not Applicable
(v)
Day Count Fraction
Actual/Actual ICMA
(Condition 5(l)):
(vi)
Interest Amount:
The Interest Amount payable per Specified Denomination on
each Interest Payment Date will be an amount in USD
determined by the Calculation Agent on the relevant FX
Valuation Date equal to the product of:
(a) the Specified Denomination multiplied by the
Rate of Interest;
(b) 1 divided by the FX Rate on such FX Valuation
Date (as defined in Term 16(vii) below); and
(c) the Day Count Fraction.
(vii)
Disruption Provisions and
Disruption Provisions:
Definitions:
If, in respect of an FX Valuation Date, a Price Source
Disruption has occurred or exists in respect of the FX Rate,
the Calculation Agent shall obtain the FX Rate for such FX
Valuation Date by applying the provisions of the following
fallbacks (the "Disruption Fallbacks") in the order below:

(i)
Valuation Postponement;
(ii) Fallback Reference Price;
(iii) Fallback Survey Valuation Postponement; and
(iv) Calculation Agent Determination of FX Rate (provided
that the FX Rate cannot be determined in accordance
with (i), (ii) or (iii) above).
In the event that an FX Valuation Date is postponed beyond
the relevant Scheduled FX Valuation Date due to an
Unscheduled Holiday or because a Price Source Disruption
in respect of the FX Rate has occurred, the relevant Interest
Payment Date, the Early Redemption Date or the Maturity
Date, as applicable, shall be postponed to the fifth Business
Day after the date on which the FX Rate is determined.
For the avoidance of doubt, no additional interest or other
additional amounts shall be payable by IBRD in the event
that the relevant Interest Payment Date, the Early
Redemption Date or the Maturity Date is postponed.
Cumulative Events:
Notwithstanding anything herein to the contrary, in no event
shall the total number of consecutive calendar days during
which either (i) an FX Valuation Date is postponed due to an
Unscheduled Holiday, or (ii) a Valuation Postponement shall
occur (or any combination of (i) and (ii), the "Cumulative
Events"), exceed 14 consecutive calendar 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 that
otherwise would have been a Business Day, then such day
shall be deemed to be an FX Valuation Date, and (y) if, upon
the lapse of any such 14 day period, a Price Source
Disruption shall have occurred or be continuing on the day
following such period, then Valuation Postponement shall
not apply and the FX Rate shall be determined in accordance
with the next Disruption Fallback.
Definitions:
The following definitions shall apply:
"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 Jakarta, London, New York and Singapore.
"Calculation Agent" means Citibank, N.A., London Branch,
or its duly appointed successor.
"Calculation Agent Determination of FX Rate" means, in
respect of an FX Valuation Date, the Calculation Agent shall
determine the FX Rate on the relevant FX Valuation Date,
acting in good faith and in a commercially reasonable
manner having taken into account relevant market practice
and any information which it deems relevant.

"Early Redemption Date" means the day on which the
Notes become due and payable in accordance with Condition
9 (Default) subject to postponement in accordance with this
Term 16(vii) whereupon the Early Redemption Date shall be
the date five Business Days following the relevant FX
Valuation Date.
"Fallback Reference Price" means, in respect of the
relevant FX Valuation Date, the USD/IDR spot exchange rate
for such FX Valuation Date expressed as the amount of IDR
per one USD 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 FX
Valuation Date. The exchange rate will be calculated by
SFEMC (or a service provider SFEMC may select in its sole
discretion) pursuant to the SFEMC IDR Indicative Survey
Rate Methodology (which means a methodology, dated as of
December 1, 2004, as amended from time to time, for a
centralized industry-wide survey of financial institutions that
are active participants in the USD/IDR markets for the
purpose of determining the SFEMC IDR Indicative Survey
Rate) (the "SFEMC IDR INDICATIVE SURVEY RATE"
or "IDR02").
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 IDR02 is replaced by a
successor price source for the USD/IDR exchange rate in
such Annex A to the FX Definitions (the "Successor Price
Source Definition for IDR02"), then the FX Rate for the
relevant FX Valuation Date will be determined in accordance
with such Successor Price Source Definition for IDR02.
"Fallback Survey Valuation Postponement" means that, in
the event that the Fallback Reference Price is not available
on or before the third Business Day (or day that would have
been a Business Day but for an Unscheduled Holiday)
succeeding the end of either (i) Valuation Postponement, (ii)
Deferral Period, or (iii) Cumulative Events, then the FX Rate
will be determined in accordance with the next applicable
Disruption Fallback on such day. For the avoidance of
doubt, Cumulative Events, if applicable, does not preclude
postponement of valuation in accordance with this provision.
"FX Rate" means, in respect of an FX Valuation Date, the
USD/IDR weighted average spot rate in the interbank market
based on traded USD/IDR spot foreign exchange
transactions during a specified time period, which are
captured on a real time basis, expressed as the amount of
IDR per one USD, published by the Bank Sentral Republik
Indonesia ("Bank Indonesia") at approximately 10:00 a.m.,
Jakarta time on such FX Valuation Date as the Jakarta
Interbank Spot Dollar Rate USD IDR on Bank Indonesia's
website (www.bi.go.id) or otherwise made available by Bank

Indonesia (or its successor as administrator) ("IDR04").
If the FX Definitions is amended such that IDR04 is replaced
by a successor price source for the USD/IDR exchange rate
in such Annex A to the FX Definitions (the "Successor Price
Source Definition for IDR04"), then the FX Rate for the
relevant FX Valuation Date will be determined in accordance
with such Successor Price Source Definition for IDR04.
"FX Valuation Date" means, in respect of an Interest
Payment Date, the Early Redemption Date or the Maturity
Date, as applicable, the date that is five Business Days before
such Interest Payment Date, Early Redemption Date or
Maturity Date, as applicable (the "Scheduled FX Valuation
Date"), provided that if the Scheduled FX Valuation Date is
an Unscheduled Holiday, the FX Valuation Date shall be
postponed to the first following Business Day, which is not
an Unscheduled Holiday. In the event the Scheduled FX
Valuation Date is so postponed due to an Unscheduled
Holiday and if the FX Valuation Date has not occurred on or
before the number of calendar days equal to the Maximum
Days of Postponement after the Scheduled FX Valuation
Date (any such period being a "Deferral Period"), then the
next day after the Deferral Period that is a Business Day, or
that would have been a Business Day but for the
Unscheduled Holiday shall be deemed to be the FX
Valuation Date.
"Jakarta 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 Jakarta.
"Maximum Days of Postponement" means 14 calendar
days.
"Price Source Disruption" means the occurrence or
existence of an event on an FX Valuation Date, the result or
consequence of which is that it is impossible or
impracticable, in the opinion of the Calculation Agent, to
obtain the FX Rate on such day.
"Unscheduled Holiday" means a day that is not a Jakarta
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 Jakarta, two Jakarta Business Days prior to
the relevant FX Valuation Date.
"Valuation Postponement" means, in respect of an FX
Valuation Date, if a Price Source Disruption has occurred or
exists in respect of the FX Rate on such FX Valuation Date,
the Calculation Agent shall determine the FX Rate on the
next succeeding Business Day on which, in the opinion of
the Calculation Agent, such Price Source Disruption has not
occurred or ceased to exist, unless the Price Source
Disruption continues to exist (measured from the date that,
but for the occurrence of the Price Source Disruption, or

Unscheduled Holiday would have been the Scheduled FX
Valuation Date) for a consecutive number of calendar days
equal to the Maximum Days of Postponement, in which case
the Calculation Agent shall determine the FX Rate on the
next succeeding Business Day after the Maximum Days of
Postponement (which will be deemed to be the applicable
FX Valuation Date) in accordance with the next applicable
Disruption Fallback.
PROVISIONS RELATING TO REDEMPTION
17. Final Redemption Amount of each
The Final Redemption Amount per Specified Denomination
Note (Condition 6):
will be payable in USD on the Maturity Date and shall be
determined by the Calculation Agent by applying the
following formula on the FX Valuation Date immediately
prior to the Maturity Date:
Specified Denomination divided by FX Rate (as
defined in Term 16(vii) above),
subject to the Disruption Provisions and Definitions in Term
16(vii) above.
18. Early Redemption Amount
The Final Redemption Amount per Specified Denomination,
(Condition 6(c)):
as determined in accordance with Term 17 above (provided
that the FX Valuation Date shall be the FX Valuation Date in
respect of the Early Redemption Date) plus accrued and
unpaid interest, if any, as determined in accordance with
Term 16 above, provided that for the purposes of such
determination, the relevant Interest Period Dates shall be the
period commencing on, and including, the Interest Payment
Date falling immediately prior to the date upon which the
Notes become due and payable (or, if no interest has yet been
paid, the Issue Date) to, but excluding, the date upon which
the Notes become due and payable.
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 / New Safekeeping No
Structure:
21. Financial Centre(s) or other special
Jakarta, London, New York and Singapore
provisions relating to payment dates
(Condition 7(h)):
22. Governing law (Condition 14):
English
23. 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 IDR but 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 FX
Valuation Date, IDR has appreciated in value against USD,
the payment in USD will be higher. Conversely, a
depreciation in value of IDR 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 favorable 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 (IDR).
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
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 Dealer:
Deutsche Bank AG, London Branch
26. Total commission and concession:
Not Applicable
27. Additional selling restrictions:
Not Applicable
28. MiFID II product governance /
Directive 2014/65/EU (as amended, "MiFID II") product
Retail investors, professional
governance / Retail investors, professional investors and
investors and ECPs target market:
ECPs target market 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 eligible
counterparties, professional clients and retail clients, each as
defined in MiFID II; and (ii) all channels for distribution of
the Notes are appropriate. Any person subsequently offering,
selling or recommending the Notes (a "distributor") should
take into consideration the manufacturer's target market
assessment; however, each distributor subject to MiFID II 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.

For the purposes of this Term 28, "manufacturer" means the
Dealer.
IBRD does not fall under the scope of application of MiFID
II. Consequently, IBRD does not qualify as an "investment
firm", "manufacturer" or "distributor" for the purposes of
MiFID II.
29. UK MiFIR product governance /
Regulation (EU) No 600/2014 as it forms part of domestic
Retail investors, professional
law by virtue of the European Union (Withdrawal) Act
investors and ECPs target market:
2018 ("UK MiFIR") product governance / Retail
investors, professional investors and ECPs target market
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 eligible counterparties (as defined in the
United Kingdom Financial Conduct Authority (the "FCA")
Handbook Conduct of Business Sourcebook ("COBS")),
professional clients (as defined in UK MiFIR) and retail
clients (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 European Union (Withdrawal) Act 2018); and (ii) all
channels for distribution of the Notes are appropriate. Any
person subsequently offering, selling or recommending the
Notes (a "distributor") should take into consideration the
manufacturer's target market assessment; however, each
distributor subject to the FCA Handbook Product
Intervention and Product Governance Sourcebook (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.
For the purposes of this Term 29, "manufacturer" means the
Dealer.
IBRD does not fall under the scope of application of UK
MiFIR. Consequently, IBRD does not qualify as an
"investment firm", "manufacturer" or "distributor" for the
purposes of UK MiFIR.
OPERATIONAL INFORMATION
30. Legal Entity Identifier of the Issuer:
ZTMSNXROF84AHWJNKQ93
31. ISIN Code:
XS2411536225
32. Common Code:
241153622
33. Delivery:
Delivery versus payment
34. Registrar and Transfer Agent (if
Citibank, N.A., London Branch
any):
35. Intended to be held in a manner
No. Whilst the designation is specified as "no" at the date of
which would allow Eurosystem
these Final Terms, should the Eurosystem eligibility criteria
eligibility:
be amended in the future such that the Notes are capable of
meeting them the Notes may then be deposited with one of
the ICSDs as common safekeeper and registered in the name
of a nominee of one of the ICSDs acting as common

safekeeper. Note that this does not necessarily mean that the
Notes will then be recognized as eligible collateral for
Eurosystem monetary policy and intra-day credit operations
by the Eurosystem at any time during their life. Such
recognition will depend upon the ECB being satisfied that
Eurosystem eligibility criteria have been met.
GENERAL INFORMATION
IBRD's most recent Information Statement was issued on September 22, 2021.

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