Obligation IBRD-Global 0.3% ( XS2622190549 ) en USD

Société émettrice IBRD-Global
Prix sur le marché 100 %  ⇌ 
Pays  Etats-unis
Code ISIN  XS2622190549 ( en USD )
Coupon 0.3% par an ( paiement semestriel )
Echéance 11/08/2026 - Obligation échue



Prospectus brochure de l'obligation IBRD XS2622190549 en USD 0.3%, échue


Montant Minimal 2 000 USD
Montant de l'émission 92 676 000 USD
Description détaillée 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 XS2622190549, émise aux États-Unis en USD, d'un montant total de 92 676 000 USD, avec un taux d'intérêt de 0,3 %, une taille minimale d'achat de 2 000 USD et une fréquence de paiement semestrielle, est arrivée à échéance le 11/08/2026 et a été intégralement remboursée à son prix de marché de 100 %.







Final Terms dated June 12, 2023

International Bank for Reconstruction and Development
Issue of USD 92,676,000 Fixed to Floating Rate Notes with Minimum and
Maximum Interest Rate due August 11, 2026
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 / 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:
101721

(ii)
Tranche number:
1
3.
Specified Currency or Currencies
United States Dollars ("USD")
(Condition 1(d)):
4.
Aggregate Nominal Amount


(i)
Series:
USD 92,676,000

(ii)
Tranche:
USD 92,676,000
5.
Issue Price:
100 per cent. of the Specified Denomination for each
Note
6.
Specified Denominations
USD 2,000
(Condition 1(b)):
7.
Issue Date:
June 15, 2023
8.
Maturity Date (Condition 6(a)):
August 11, 2026
9.
Interest basis (Condition 5):
(i) 1.82 per cent. Fixed Rate (Condition 5(a)) from
and including the Issue Date to but excluding
August 11, 2023; and
(ii) Floating Rate (Condition 5(b)) from and including
August 11, 2023 to but excluding the Maturity
Date
(further particulars specified below)
10.
Redemption/Payment basis
Redemption at par
(Condition 6):
11.
Change of interest or
Change of Interest (as per Term 9 above)
redemption/payment basis:
12.
Call/Put Options (Condition 6):
Not Applicable
13.
Status of the Notes (Condition 3):
Unsecured and unsubordinated
14.
Listing:
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

1





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
15.
Method of distribution:
Not Applicable. The Notes are being issued in
exchange for certain existing securities.
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
16.
Fixed Rate Note provisions
Applicable
(Condition 5(a)):

(i)
Rate of Interest:
1.82 per cent. per annum payable in arrear

(ii)
Interest Payment Date:
August 11, 2023, not subject to adjustment in
accordance with a Business Day Convention

(iii)
Interest Period Date:
The Interest Payment Date

(iv)
Business Day
Not Applicable
Convention:

(v)
Day Count Fraction
30/360
(Condition 5(l)):

(vi)
Other terms relating to
Not Applicable
the method of calculating
interest for Fixed Rate
Notes:
17.
Floating Rate Note provisions
Applicable
(Condition 5(b)):

(i)
Interest Period(s):
As set out in Condition 5(l)

(ii)
Specified Interest
August 11 in each year from and including August 11,
Payment Dates:
2024, to and including the Maturity Date, not subject to
adjustment in accordance with a Business Day
Convention.

(iii)
Interest Period Date(s):
Each Specified Interest Payment Date

(iv)
Business Day
Not Applicable
Convention:

(v)
Business Centre(s)
Not Applicable
(Condition 5(l):

(vi)
Manner in which the
As set out in Term 17(xv) below
Rate(s) of Interest is/are
to be determined:

(vii)
Party responsible for
Global Agent (as "Calculation Agent")
calculating the Rate(s) of
Interest and Interest
Amount(s):

(viii)
Screen Rate/Reference
Not Applicable
Bank Determination
(Condition 5(b)(ii)(C)):

(ix)
ISDA Determination
Not Applicable
(Condition 5(b)(ii)(B)):

(x)
Margin(s):
The sum of (i) +0.00 per cent. per annum and (ii) the
Spread Adjustment

2


(xi)
Spread Adjustment:
+0.26161 per cent. per annum
(xii)
Minimum Rate of
0.00 per cent. per annum
Interest:
(xiii)
Maximum Rate of
1.82 per cent. per annum
Interest:
(xiv)
Day Count Fraction
30/360
(Condition 5(l)):
(xv)
Fall back provisions,
Notwithstanding Condition 5(b), the Rate of Interest
rounding provisions,
for each relevant Interest Period shall be determined by
denominator and any
the Calculation Agent on each Interest Determination
other terms relating to the
Date in accordance with the following provisions. The
method of calculating
Rate of Interest for each Interest Period shall apply with
interest on Floating Rate
effect from and including the first day of such Interest
Notes, if different from
Period. The Rate of Interest for each Interest Period
those set out in the
will, subject as provided below, be Compounded SOFR
Conditions:
plus the Margin.
Subject to the SOFR Compounded Index Fallback
Provisions set out in the Annex below, for any Interest
Period, "Compounded SOFR" will be calculated by
the Calculation Agent on the relevant Interest
Determination Date as follows and the resulting
percentage will be rounded, if necessary, to the fourth
decimal place of a percentage point, 0.00005 being
rounded upwards:


where:
"dc" means the number of calendar days in the
Observation Period relating to such Interest Period.
"Interest Determination Date" means, in respect of
an Interest Period, the date falling 2 U.S. Government
Securities Business Days before the earlier of (a) the
relevant Interest Period November Date for such
Interest Period or (b) the relevant payment date if the
Notes become due and payable on a date other than a
Specified Interest Payment Date.
"Interest Period November Date" means, in respect
of an Interest Period, November 11 in such Interest
Period, from and including November 11, 2023, to and
including November 11, 2025.
"Observation Period" means, in respect of an Interest
Period, the period from, and including, the date falling
2 U.S. Government Securities Business Days before
the first day of such Interest Period, to, but excluding,
the date falling 2 U.S. Government Securities Business
Days before the earlier of (a) the Interest Period
November Date for such Interest Period or (b) the
relevant payment date if the Notes become due and

3




payable on a date other than a Specified Interest
Payment Date.
"SOFR" means the Secured Overnight Financing Rate.
"SOFR Administrator" means the Federal Reserve
Bank of New York ("NY Fed") as administrator of
SOFR (or a successor administrator of SOFR).
"SOFR Index" in relation to any U.S. Government
Securities Business Day means the value of the SOFR
compounded index as published by the SOFR
Administrator on its website (at or about 08:00 a.m.
(New York Time) on such U.S. Government Securities
Business Day (the "SOFR Index Determination
Time"). Currently, the SOFR Administrator publishes
the SOFR Index on its website at www.newyorkfed.org.
In the event that the value originally published by the
SOFR Administrator at or about 08:00 a.m. (New York
Time) on any U.S. Government Securities Business
Day is subsequently corrected and such corrected value
is published by the SOFR Administrator on the original
date of publication, then such corrected value, instead
of the value that was originally published, shall be
deemed the SOFR Index as of the SOFR Index
Determination Time in relation to such U.S.
Government Securities Business Day.
"SOFR IndexEnd" means the SOFR Index value on the
date falling 2 U.S. Government Securities Business
Days before the earlier of (a) the Interest Period
November Date relating to the relevant Interest Period
or (b) the relevant payment date if the Notes become
due and payable on a date other than an Specified
Interest Payment Date.
"SOFR IndexStart" means the SOFR Index value on the
date falling 2 U.S. Government Securities Business
Days before the first day of the relevant Interest Period.
"U.S. Government Securities Business Day" means
any day, except for a Saturday, Sunday or a day on
which the Securities Industry and Financial Markets
Association recommends that the fixed income
departments of its members be closed for the entire day
for purposes of trading in U.S. government securities.
PROVISIONS RELATING TO REDEMPTION
18.
Final Redemption Amount of
USD 2,000 per Specified Denomination
each Note (Condition 6):
19.
Early Redemption Amount
As set out in the Conditions
(Condition 6(c)):
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 / New
Yes ­ New Safekeeping Structure
Safekeeping Structure:

4


22.
Financial Centre(s) or other
London, New York and TARGET Business Days
special provisions relating to
payment dates (Condition 7(h)):
23.
Governing law (Condition 14):
English
24.
Other final terms:
Not Applicable
DISTRIBUTION
25.
(i)
If syndicated, names of
Not Applicable
Managers and
underwriting
commitments:

(ii)
Stabilizing Manager(s) (if
Not Applicable
any):
26.
If non-syndicated, name of
Not Applicable
Dealer:
27.
Total commission and concession:
Not Applicable
28.
Additional selling restrictions:
Not Applicable
29.
UK MiFIR product governance /
UK MiFIR product governance / Retail investors,
Retail investors, professional
professional investors and ECPs target market ­
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 retail clients, as
defined in point (8) of Article 2 of Regulation (EU) No
2017/565 as it forms part of UK domestic law by virtue
of the European Union (Withdrawal) Act 2018
("EUWA"), and eligible counterparties, as defined in
the FCA Handbook Conduct of Business Sourcebook
("COBS"), and professional clients, as defined in
Regulation (EU) No 600/2014 as it forms part of UK
domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("UK MiFIR"); 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 BNP Paribas.
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


5


30.
Legal Entity Identifier of the
ZTMSNXROF84AHWJNKQ93
Issuer:
31.
ISIN Code:
XS2622190549
32.
Common Code:
262219054
33.
Delivery:
Delivery against delivery of the relevant securities for
which the Notes are being exchanged
34.
Registrar and Transfer Agent (if
Citibank, N.A., London Branch
any):
35.
Intended to be held in a manner
Yes. Note that the designation "yes" means that the
which would allow Eurosystem
Notes are intended upon issue to be deposited with one
eligibility:
of the ICSDs as common safekeeper and registered in
the name of a nominee of one of the ICSDs acting as
common safekeeper, and does not necessarily mean
that the Notes will be recognized as eligible collateral
for Eurosystem monetary policy and intra-day credit
operations by the Eurosystem either upon issue or at
any or all times during their life. Such recognition will
depend upon satisfaction of the Eurosystem eligibility
criteria.

GENERAL INFORMATION
IBRD's most recent Information Statement was issued on September 21, 2022

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.
Recent Developments
On April 6, 2023, the Board of Executive Directors approved a reduction in IBRD's capital adequacy
policy minimum Equity-to-Loans (E/L) ratio from current 20% to 19%, effective immediately.

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.

6


RESPONSIBILITY
IBRD accepts responsibility for the information contained in these Final Terms.
Signed on behalf of IBRD:


By: ...........................................................

Name:
Title:

Duly authorized

7


Annex

Part A - SOFR Compounded Index Fallback Provisions
SOFR Index Unavailable:
If a SOFR IndexStart or SOFR IndexEnd is not published on the associated Interest Determination
Date, and an Index Cessation Event and its related Index Replacement Date have not occurred with
respect to SOFR Index or SOFR, "Compounded SOFR" means, for the applicable Interest Period
for which such index is not available, the rate of return on a daily compounded interest investment
for the Observation Period calculated by the Calculation Agent in accordance with the formula for
SOFR Averages, and definitions required for such formula, published on the SOFR Administrator's
website at www.newyorkfed.org. For the purposes of this provision, references in the SOFR Averages
compounding formula and related definitions to "calculation period" shall be replaced with
"Observation Period" and the words "that is, 30-, 90-, or 180- calendar days" shall be removed. If
the daily SOFR ("SOFRi") does not so appear for any day, "i" in the Observation Period, SOFRi
for such day "i" shall be SOFR published in respect of the first preceding U.S. Government
Securities Business Day for which SOFR was published on the SOFR Administrator's website.
Effect of an Index Cessation Event:
If the Issuer determines on or prior to the relevant Reference Time that an Index Cessation Event
and its related Index Replacement Date have occurred with respect to the then-current Index, the
Index Replacement will replace the then-current Index for all purposes relating to the Notes in
respect of all determinations on such date and for all determinations on all subsequent dates.
In connection with the implementation of an Index Replacement, the Issuer will have the right to
make Index Replacement Conforming Changes from time to time.
Any determination, decision or election that may be made by the Issuer pursuant to this section,
including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-
occurrence of an event, circumstance or date and any decision to take or refrain from taking any
action or any selection:
(1) will be conclusive and binding absent manifest error;
(2) will be made in the sole discretion of the Issuer; and
(3) notwithstanding anything to the contrary in the documentation relating to the Notes described
herein, shall become effective without consent from the holders of the Notes or any other party.
"Index" means, initially, SOFR Index; provided that if the Issuer determines on or prior to the
Reference Time that an Index Cessation Event and its related Index Replacement Date have
occurred with respect to SOFR Index then "Index" means the applicable Index Replacement for the
SOFR Index; and provided further that if the Issuer determines on or prior to the Reference Time
that an Index Cessation Event and its related Index Replacement Date have occurred with respect
to the then current Index, then "Index" means the applicable Index Replacement for the then-current
Index.
"Index Replacement" means the first alternative that can be determined by the Issuer in the order
set out in Part B of this Annex as of the Index Replacement Date.
For the avoidance of doubt, the Spread Adjustment will continue to apply to any Index Replacement
following the occurrence of an Index Cessation Event and its related Index Replacement Date in
respect of the then current Index.
"Index Replacement Conforming Changes" means, with respect to any Index Replacement, any
technical, administrative or operational changes (including changes to the timing and frequency of
determining rates and making payments of interest, rounding of amounts or tenors, and other
administrative matters) that the Issuer decides may be appropriate to reflect the adoption of such
Index Replacement in a manner substantially consistent with market practice (or, if the Issuer
decides that adoption of any portion of such market practice is not administratively feasible or if the

8


Issuer determines that no market practice for use of the Index Replacement exists, in such other
manner as the Issuer determines is reasonably necessary).
"Index Replacement Date" means:
(1) subject to limb (2) below, in the case of clause (1) or (2) of the definition of "Index Cessation
Event," the first date on which the Index would ordinarily have been published or provided
and is no longer published or provided; or
(2) in the case of clause (3) of the definition of "Index Cessation Event," the first date on which
the Index would ordinarily have been published or provided and is either (x) non-
representative by reference to the most recent statement or publication contemplated in clause
(3) of the definition of "Index Cessation Event" and even if such Index continues to be
published or provided on such date or (y) no longer published or provided.
"Index Cessation Event" means the occurrence of one or more of the following events with respect
to the then current Index:
(1) a public statement or publication of information by or on behalf of the administrator of the
Index announcing that such administrator has ceased or will cease to provide the Index,
permanently or indefinitely, provided that, at the time of such statement or publication, there
is no successor administrator that will continue to provide the Index; or
(2) a public statement or publication of information by the regulatory supervisor for the
administrator of the Index, the central bank for the currency of the Index, an insolvency
official with jurisdiction over the administrator for the Index, a resolution authority with
jurisdiction over the administrator for the Index or a court or an entity with similar insolvency
or resolution authority over the administrator for the Index, which states that the administrator
of the Index has ceased or will cease to provide the Index permanently or indefinitely,
provided that, at the time of such statement or publication, there is no successor administrator
that will continue to provide the Index; or
(3) a public statement or publication of information by the regulatory supervisor for the
administrator of the Index announcing (A) that such Index is no longer, or as of a specified
future date will no longer be, capable of being representative, or is non-representative, of the
underlying market and economic reality that such Index is intended to measure as required
by applicable law or regulation and as determined by the regulatory supervisor in accordance
with applicable law or regulation and (B) that the intention of that statement or publication
is to engage contractual triggers for fallbacks activated by pre-cessation announcements by
such supervisor (howsoever described) in contracts.
"Reference Time" with respect to any determination of the Index means (1) if the Index is SOFR
Index, the SOFR Index Determination Time, and (2) if the Index is not SOFR Index, the time
determined by the Issuer after giving effect to the Index Replacement Conforming Changes.

9


Part B - Index Replacement
(i)
Index Replacement Date with respect to SOFR Index. If an Index Cessation Event with respect
to SOFR Index occurs, the rate for an Interest Determination Date which occurs on or after the
Index Replacement Date with respect to SOFR Index will be SOFR, compounded in arrear over
the Observation Period relating to the relevant Interest Determination Date.
(ii)
Temporary Non-Publication with respect to SOFR. If the administrator does not provide or
publish SOFR, then, subject to paragraph (iii) below, in respect of any day for which SOFR is
required, references to SOFR will be deemed to be references to the last provided or published
SOFR.
(iii)
Index Replacement Date with respect to SOFR. If an Index Replacement Date occurs with
respect to SOFR, then the rate for an Interest Determination Date which occurs on or after the
Index Replacement Date with respect to SOFR Index or, if later, the Index Replacement Date with
respect to SOFR, will be the Fed Recommended Rate, which, if that rate is an overnight rate, will
be compounded in arrear over the Observation Period relating to the relevant Interest
Determination Date.
(iv)
Temporary Non-Publication with respect to Fed Recommended Rate. If there is a Fed
Recommended Rate before the end of the first U.S. Government Securities Business Day
following the Index Replacement Date with respect to SOFR Index or, if later, the end of the first
U.S. Government Securities Business Day following the Index Replacement Date with respect to
SOFR, but neither the administrator nor authorized distributors of that Fed Recommended Rate
provide or publish the Fed Recommended Rate, then, subject to paragraph (v) below, in respect
of any day for which the Fed Recommended Rate is required, references to the Fed Recommended
Rate will be deemed to be references to the last provided or published Fed Recommended Rate.
However, if there is no last provided or published Fed Recommended Rate, then in respect of any
day for which the Fed Recommended Rate is required, references to the Fed Recommended Rate
will be deemed to be references to the last provided or published SOFR.
(v)
No Fed Recommended Rate or Index Replacement Date with respect to Fed Recommended
Rate. If:
(a)
there is no Fed Recommended Rate before the end of the first U.S. Government
Securities Business Day following the Index Replacement Date with respect to SOFR
Index or, if later, the end of the first U.S. Government Securities Business Day following
the Index Replacement Date with respect to SOFR; or
(b)
there is a Fed Recommended Rate and an Index Replacement Date subsequently occurs
with respect to it,
then the rate for an Interest Determination Date which occurs on or after the Index Replacement
Date with respect to SOFR Index (or, if later, the Index Replacement Date with respect to SOFR)
or the Index Replacement Date with respect to the Fed Recommended Rate (as applicable) will
be OBFR, compounded in arrear over the Observation Period relating to the relevant Interest
Determination Date.
(vi)
Temporary Non-Publication with respect to OBFR. If neither the administrator nor authorized
distributors of OBFR provide or publish OBFR, then, subject to paragraph (vii) below, in respect
of any day for which OBFR is required, references to OBFR will be deemed to be references to
the last provided or published OBFR.
(vii) Index Replacement Date with respect to OBFR. If (a) there is no Fed Recommended Rate, or
there is a Fed Recommended Rate and an Index Replacement Date subsequently occurs with

10


Document Outline