Obligation IBRD-Global 4.3% ( XS2434892456 ) en PEN

IBRD-Global

100 % ▲

Etas-Unis

XS2434892456 ( en PEN )

4.3% par an ( paiement annuel )

24/01/2025 - Obligation échue

Prospectus brochure de l'obligation IBRD XS2434892456 en PEN 4.3%, échue

10 000 PEN

100 000 000 PEN

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, identifiée par le code ISIN XS2434892456, émise par la Banque internationale pour la reconstruction et le développement (BIRD), plus communément appelée la Banque mondiale, représentait un instrument financier clé dans le paysage des titres à revenu fixe. La BIRD est une institution financière internationale majeure dont la mission principale est de réduire la pauvreté et de soutenir le développement dans les pays à revenu intermédiaire et les pays plus pauvres mais solvables. En tant qu'émetteur de premier ordre, jouissant d'une cote de crédit extrêmement élevée, ses obligations sont souvent considérées comme des placements sûrs, presque quasi-souverains, bien que techniquement émises depuis les États-Unis dans ce cas précis. Cet instrument était libellé en pesos péruviens (PEN), une particularité qui offrait une diversification géographique et de devises aux investisseurs, avec un taux d'intérêt annuel fixe de 4,3%. Le paiement des intérêts se faisait une fois par an, conformément à la fréquence de paiement spécifiée. La taille totale de l'émission s'élevait à 100 000 000 PEN, indiquant un volume significatif sur le marché, tandis que la taille minimale à l'achat, fixée à 10 000 PEN, rendait cette obligation accessible à une gamme d'investisseurs qualifiés. Il est important de noter que cette obligation a atteint sa date d'échéance le 24 janvier 2025. Conformément à ses termes, elle a été intégralement remboursée à sa valeur nominale de 100%, signifiant que l'émetteur, la BIRD, a honoré ses engagements de paiement du principal à la maturité, clôturant ainsi le cycle de vie de cet instrument financier spécifique.

Final Terms dated 19 January 2022
International Bank for Reconstruction and Development

Issue of PEN 100,000.000 4.25 per cent. Notes due 24 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 September 24, 2021. This document constitutes the Final
Terms of the Notes described herein and must be read in conjunction with such Prospectus.

UK MiFIR product governance / Professional investors and ECPs target market See Term 28 below.
SUMMARY OF THE NOTES
1. Issuer:
International Bank for Reconstruction and Development
("IBRD")
2. (i)
Series number:
101493
(ii)
Tranche number:
1

3. Specified Currency or Currencies
The lawful currency of the Republic of Peru ("Peruvian
(Condition 1(d)):
Nuevo Sol" or "PEN"), provided that all payments in respect
of the Notes will be made in United States Dollars ("USD")
4. Aggregate Nominal Amount

(i)
Series:
PEN 100,000.000
(ii)
Tranche:
PEN 100,000.000
5. (i)
Issue Price:
99.477 per cent. of the Aggregate Nominal Amount
(ii)
Net proceeds:
USD 25,506,923.08 (equivalent to PEN 99,477,000 at the
USD/PEN exchange rate of PEN 3.90 per USD 1.00)
6. Specified Denominations
PEN 10,000
(Condition 1(b)):
7.
Issue Date:
24 January 2022
8. Maturity Date (Condition 6(a)):
24 January 2025, 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):
4.25 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:
4.25 per cent. per annum payable annually in arrear
(ii)
Interest Payment Date(s):
24 January, in each year, from and including 24 January 2023
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):
24 January in each year, from and including 24 January 2023
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; and
(iii) Calculation Agent Determination of FX Rate (provided
that the FX Rate cannot be determined in accordance
with (i) or (ii) 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)), 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 Lima, London and New York.
"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. For the avoidance of doubt, no additional
interest or other additional amounts shall be payable by
IBRD in the event that the Early Redemption Date is so
postponed.
"Fallback Reference Price" means, in respect of the
relevant FX Valuation Date, the midpoint of the USD/PEN
closing weighted average bid and offer ("compra y venta")
exchange rates, expressed as the amount of PEN per one
USD, reported by the Superintendencia de Banca, Seguros y
Administradores de Fondos de Pensiones of the Republic of
Peru (Superintendency of Banks, Insurance and Pension
Fund Administrators) (www.sbs.gob.pe) by approximately
5:00 p.m., Lima time, on such FX Valuation Date ("PEN
WT AVE" or "PEN03").
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 PEN03 is replaced by a
successor price source for the USD/PEN exchange rate in
such Annex A to the FX Definitions (the "Successor Price
Source Definition for PEN03"), then the FX Rate for the
relevant FX Valuation Date will be determined in accordance
with such Successor Price Source Definition for PEN03.
"FX Rate" means, in respect of the relevant FX Valuation
Date, the USD/PEN average exchange rate in the interbank
market, expressed as the amount of PEN per one USD,
reported by the Banco Central de Reserva del Peru (Central
Reserve Bank of Peru) (www.bcrp.gob.pe) as the "Tipo de
Cambio Interbancario Promedio" at approximately 2.00 p.m.,
Lima time, on such FX Valuation Date ("PEN
INTERBANK AVE" or "PEN05").
If the FX Definitions is amended such that PEN05 is
replaced by a successor price source for the USD/PEN
exchange rate in such Annex A to the FX Definitions (the
"Successor Price Source Definition for PEN05"), then the
FX Rate for the relevant FX Valuation Date will be
determined in accordance with such Successor Price Source
Definition for PEN05.
"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.
"Lima 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 Lima.
"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 Lima
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. (Lima time), two Lima Business Days prior to such day.
"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
Lima, London and New York
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 PEN 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, PEN has appreciated in value against USD,
the payment in USD will be higher. Conversely, a
depreciation in value of PEN 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 (PEN).
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:
Merrill Lynch International
26. Total commission and concession:
Not Applicable
27. Additional selling restrictions:
Not Applicable
28. UK MiFIR product governance /
Regulation (EU) No 600/2014 as it forms part of domestic
Professional investors and ECPs
law by virtue of the European Union (Withdrawal) Act
target market:
2018 ("UK MiFIR") product governance / Professional
investors and ECPs only 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 only
eligible counterparties (as defined in the United Kingdom
Financial Conduct Authority (the "FCA") Handbook
Conduct of Business Sourcebook ("COBS")) and
professional clients (as defined in UK MiFIR); and (ii) all
channels for distribution of the Notes to eligible
counterparties and professional clients 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 28, "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
29. Legal Entity Identifier of the Issuer:
ZTMSNXROF84AHWJNKQ93
30. ISIN Code:
XS2434892456
31. Common Code:
243489245
32. Delivery:
Delivery versus payment

33. Registrar and Transfer Agent (if
Citibank, N.A., London Branch
any):
34. 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