Obligation IBRD-Global 12.2% ( XS2809694198 ) en USD

IBRD-Global

100 % ▲

Etats-unis

XS2809694198 ( en USD )

12.2% par an ( paiement semestriel )

24/04/2028

Prospectus brochure de l'obligation IBRD XS2809694198 en USD 12.2%, échéance 24/04/2028

24/10/2025 ( Dans 115 jours )

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 émise par IBRD-Global ( Etats-unis ) , en USD, avec le code ISIN XS2809694198, paye un coupon de 12.2% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 24/04/2028

Final Terms dated May 1, 2024
International Bank for Reconstruction and Development

Issue of US$175,000,000 Class D Floating Rate Catastrophe-Linked Capital at Risk Notes due April 24, 2028
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 Class D Floating Rate
Catastrophe-Linked Capital at Risk Notes due April 24, 2028 (the "Notes") described herein and must be read in conjunction
with such Prospectus as supplemented by the Capital at Risk Notes Prospectus Supplement dated September 24, 2021, and the
Prospectus Supplement with regard to the Notes dated May 1, 2024.

1.
Issuer:
International
Bank
for
Reconstruction
and
Development
("IBRD")
2.
(i) Series Number:
CAR 135
(ii) Tranche Number(s):
1
3.
Specified Currency or Currencies:
United States Dollars ("US$")
4.
Aggregate Nominal Amount:

(i) Series:
US$175,000,000
(ii) Tranche:
US$175,000,000
5.
(i) Issue Price:
100 per cent. of the Aggregate Nominal Amount
(ii) Net Proceeds:
US$175,000,000
6.
(i) Specified Denominations
US$250,000 and integral multiples of US$1,000 in excess thereof
(Condition 1(b)):
The Specified Denomination shall remain constant from the Issue Date through
the Maturity Date irrespective of Principal Reductions or Partial Repayments (if
any).
(ii) Calculation Amount (Condition
US$1,000
5(j)):
The Calculation Amount shall remain a constant US$1,000 nominal amount from
the Issue Date through the Maturity Date irrespective of Principal Reductions or
Partial Repayments (if any).
7.
Issue Date:
May 15, 2024
8.
Maturity Date (Condition 6(a)):
The later of the Scheduled Maturity Date (as defined below) and the latest
Extended Maturity Date (as defined below), if any.
The "Scheduled Maturity Date" shall be April 24, 2028 (subject to an earlier
Mandatory Redemption pursuant to Term 26(iii)); provided, however, that if (i)
an Extension Notice has been delivered by the Insured to IBRD and the Event
Calculation Agent (with copies thereof to the Ceding Reinsurer, the Insurer and
the Global Agent) on or prior to the date that is three (3) Business Days prior to
the Scheduled Maturity Date or (ii) (A) a Notice of Applicable Event with respect
1

to a potential Pacific Named Storm Event has been delivered by the Insured to
IBRD and the Event Calculation Agent (with copies thereof to the Ceding
Reinsurer, the Insurer and the Global Agent) on or prior to the date that is five (5)
Business Days prior to the Scheduled Maturity Date, and (B) an Event Report
with respect thereto has not been received by IBRD on or prior to the date that is
five (5) Business Days prior to the Scheduled Maturity Date, then the Maturity
Date shall be extended beyond the Scheduled Maturity Date automatically to May
24, 2028 (or if such date is not a Business Day, the next succeeding Business Day)
(such period, the "Initial Extension Period"). Thereafter, the Maturity Date shall
be further extended automatically to June 24, 2028 (or, if such date is not a
Business Day, the next succeeding Business Day) (each of such one (1) month
period and the Initial Extension Period, an "Extension Period") unless (i) all
Event Reports with respect to potential Named Storm Events required to be
delivered by the Event Calculation Agent under the Event Calculation Agent
Agreement are received by IBRD on or prior to the date that is five (5) Business
Days prior to the then-applicable Extended Maturity Date or (ii) the Insured elects
by written notice given to IBRD (with copies thereof to the Global Agent, the
Ceding Reinsurer and the Insurer) on or prior to the date that is three (3) Business
Days prior to the then-applicable Extended Maturity Date, not to further extend
the maturity of the Notes, in which case the Maturity Date shall be the then-
applicable Extended Maturity Date. If the Outstanding Nominal Amount is
reduced to US$0 on any Principal Reduction Date prior to the Maturity Date, then
the Notes will be deemed to be finally redeemed on such Principal Reduction
Date at a price of US$0, and no further interest will be paid (other than any
Residual Interest Amount then due pursuant to Term 26(ii) and any accrued
interest then due pursuant to Term 17).
References herein to the "Extended Maturity Date" mean the last day of the
then-applicable Extension Period. References herein to an "Extension Notice"
mean a Full Extension Notice or a Partial Extension Notice.
"Extension Event" means that the maturity of the Notes has been extended
pursuant to this Term 8.
"Full Extension Notice" means a written notice delivered by the Insured to IBRD
and the Event Calculation Agent (with a copy thereof to the Ceding Reinsurer,
the Insurer and the Global Agent) (a) stating that such written notice constitutes
a Full Extension Notice with respect to the Notes and (b) identifying one or more
Named Storm Events and/or potential Named Storm Events for which the
maturity of the Notes is being extended.
"Partial Extension Notice" means a written notice delivered by the Insured to
IBRD and the Event Calculation Agent (with a copy thereof to the Ceding
Reinsurer, the Insurer and the Global Agent) (a) stating that such written notice
constitutes a Partial Extension Notice with respect to the Notes, (b) identifying
one or more Named Storm Events and/or potential Named Storm Events for
which the maturity of the Notes is being extended and (c) specifying the portion
of the Outstanding Nominal Amount to be partially repaid (the "Repayment
Amount") with respect to such Partial Extension Notice.
On the first date (if any) that (i) is either the Scheduled Maturity Date or an
Extended Maturity Date and (ii) falls at least three (3) Business Days after the
date on which the Insured delivers a Partial Extension Notice:
(1) the Outstanding Nominal Amount shall be reduced by the Repayment
Amount specified in such Partial Extension Notice (the "Partial
Repayment"); provided, that in no event shall a Partial Repayment reduce
2

the Outstanding Nominal Amount to an amount less than US$0; and
(2) in addition to the payment of accrued interest with respect to the Interest
Period then ending, the following amount shall be paid for each Calculation
Amount: US$1,000 multiplied by the fraction of which the numerator is the
lesser of (a) the Repayment Amount and (b) the Outstanding Nominal
Amount (as defined in Term 26(iv)) calculated as of the Scheduled Maturity
Date or relevant Extended Maturity Date, as applicable (after giving effect to
any Principal Reduction on such date, but without giving effect to any Partial
Repayment on such date) and of which the denominator is the Aggregate
Nominal Amount.
Any Partial Repayment shall be applied to the outstanding Notes on a pro rata
basis. For the avoidance of doubt, more than one Partial Repayment may occur,
and a Partial Repayment could reduce the Outstanding Nominal Amount to US$0.
9.
Interest Basis (Condition 5):
Floating Rate (further particulars specified below)
10. Redemption/Payment Basis
Other (redemption pursuant to Term 26)
(Condition 6):
11. Change of Interest or
Not Applicable
Redemption/Repayment 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. Ratings:
The Notes will not be rated.
16. Method of distribution:
Syndicated
PROVISIONS RELATING TO

INTEREST (IF ANY) PAYABLE
17. Floating Rate Note Provisions
Applicable; provided, however, that the amount of interest payable shall not be
(Condition 5(b)):
calculated based on the Rate of Interest within the meaning of Condition 5(b), but
shall instead equal the Interest Amount specified in Term 17(xiii).
(i) Interest Periods:
The period from and including the Issue Date to but excluding the first Interest
Period Date, and thereafter each successive period from and including an Interest
Period Date to but excluding the next succeeding Interest Period Date.
(ii) Specified Interest Payment
The following shall be Specified Interest Payment Dates:
Dates:
(1) the 24th day of each month, from and including June 24, 2024, to and

including March 24, 2028;
(2) the Scheduled Maturity Date; and
(3) each Extended Maturity Date, if any;
in each case subject to adjustment in accordance with the Business Day
Convention.
3

(iii) Interest Period Dates:
Each Specified Interest Payment Date; provided, that if the Redemption Amount

Payment Date occurs on a date that is not a Specified Interest Payment Date, then
such Redemption Amount Payment Date shall be an Interest Period Date.
(iv) Business Day Convention:
All dates set forth herein are subject to adjustment in accordance with the
"Following Business Day Convention".
(v) Business Centre(s) (Condition
City of New York, United States; City of London, England
5(l)):

"Business Day" means a day on which commercial banks and foreign exchange
markets are open for general business (including dealings in foreign exchange
and foreign currency deposits) in London and New York City.
(vi) Manner in which the Rate(s) of ISDA Determination
Interest is/are to be
determined:
(vii) Party responsible for
Citibank, N.A., London Branch
calculating the Rate(s) of
Interest and Interest Amount(s):
(viii) ISDA Determination

(Condition 5(b)(ii)(B)):
Floating Rate Option:
Compounded SOFR, as defined, and subject to the fall-back provisions, in Term
17(xiii) below.
Reset Date:
The first day of each Interest Period.
U.S. Government
Any day, except for a Saturday, Sunday or a day on which the Securities Industry
Securities Business Day:
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.
Interest Determination
The date which is five (5) U.S. Government Securities Business Days before each
Date:
Specified Interest Payment Date or the applicable Redemption Amount Payment
Date, as applicable.
(ix) Margin(s):
The "Funding Margin" is +0.22 per cent. per annum.
The "Risk Margin" is + 12.00 per cent. per annum; provided, however:
(a)
the Risk Margin applicable (x) from and including the Issue
Date, to but excluding the first day of the Risk Period and (y) from but
excluding the last day of the Risk Period, to but excluding the
Redemption Amount Payment Date, other than during any Extension
Period, is +0.25 per cent. per annum; and

(b)
the Risk Margin applicable during any Extension Period is
+0.10 per cent. per annum.

(x) Minimum Rate of Interest:
The Risk Margin
(xi) Maximum Rate of Interest:
Not Applicable
4

(xii) Day Count Fraction
Actual/360
(Condition 5(l)):

(xiii) Fall back provisions,
For each Interest Period, the Interest Amount payable for each Calculation
rounding provisions, denominator
Amount will be calculated as the sum of the Daily Interest Amounts for each day
in such Interest Period.
and any other terms relating to the

method of calculating interest on
The "Daily Interest Amount" for each Calculation Amount shall equal:
Floating Rate Notes, if different
from those set out in the
(a) for each day from and including the Issue Date to and including May
Conditions:
15, 2025, one three hundred sixtieth (1/360) times the sum of (i) and (ii):
(i) the greater of (a) (x) the fraction the numerator of which is
the Outstanding Nominal Amount as of the first day of such
Interest Period (after giving effect to any Principal Reduction
on such date) and the denominator of which is the Aggregate
Nominal Amount, times (y) US$1,000, times (z) the sum of (A)
Compounded SOFR for such Interest Period and (B) the
Funding Margin and (b) zero (0), and
(ii) the Risk Margin applicable on such day times US$1,000;
and
(b) for each day after May 15, 2025 to but excluding the Maturity Date,
one three hundred sixtieth (1/360) times the sum of (i) and (ii):
(i) the greater of (a) (x) the fraction the numerator of which is
the Outstanding Nominal Amount as of the first day of such
Interest Period (after giving effect to any Principal Reduction
and/or Partial Repayment on such date) and the denominator of
which is the Aggregate Nominal Amount, times (y) US$1,000,
times (z) the sum of (A) Compounded SOFR for such Interest
Period and (B) the Funding Margin and (b) zero (0), and
(ii) (x) the Risk Margin applicable on such day, times (y) the
fraction the numerator of which is the Outstanding Nominal
Amount as of the first day of such Interest Period (after giving
effect to any Principal Reduction and/or Partial Repayment on
such date) and the denominator of which is the Aggregate
Nominal Amount, times (z) US$1,000.
Subject to the Compounded SOFR Fallback Provisions below, for any Interest
Period, "Compounded SOFR" will be calculated by the Calculation Agent on
each Interest Determination Date as follows and the resulting percentage will be
rounded, if necessary, to the fourth decimal place of a percentage point, with
0.00005 or greater being rounded upwards:
(
-1) × (360)
where:
"Observation Period" means, in respect of such Interest Period, the period from,
and including, the date which is five (5) U.S. Government Securities Business
Days preceding the first date of such Interest Period to, but excluding, the date
which is five (5) U.S. Government Securities Business Days preceding the
5

Specified Interest Payment Date or Redemption Amount Payment Date, as
applicable, for such Interest Period.
"SOFR IndexStart" means the SOFR Index value on the day which is five (5) U.S.
Government Securities Business Days preceding the first date of such Interest
Period.
"SOFR IndexEnd" means the SOFR Index value on the day which is five (5) U.S.
Government Securities Business Days preceding the Specified Interest Payment
Date or Redemption Amount Payment Date, as applicable, relating to such
Interest Period.
"dc" means the number of calendar days in the Observation Period relating to
such Interest Period.
"SOFR Administrator" means the Federal Reserve Bank of New York as
administrator of the secured overnight financing rate ("SOFR") (or a successor
administrator of SOFR).
"SOFR Index" in relation to any U.S. Government Securities Business Day shall
be the value published by the SOFR Administrator on its website on or about 3:00
p.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
https://apps.newyorkfed.org/markets/autorates/sofr-avg-ind. In the event that the
value originally published by the SOFR Administrator on or about 3:00 p.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.
Compounded SOFR Fallback Provisions:
SOFR Index Unavailable:
If a SOFR IndexStart or SOFR IndexEnd is not published on the associated Interest
Determination Date and a Benchmark Transition Event and its related Benchmark
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 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 https://www.newyorkfed.org/markets/treasury-
repo-reference-rates-information. 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 a Benchmark Transition Event:
If IBRD determines on or prior to the relevant Reference Time that a Benchmark
6

Transition Event and its related Benchmark Replacement Date have occurred
with respect to the then-current Benchmark, the Benchmark Replacement will
replace the then-current Benchmark 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 a Benchmark Replacement, IBRD will
have the right to make Benchmark Replacement Conforming Changes from time
to time.
Any determination, decision or election that may be made by IBRD 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 IBRD; 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.
"Benchmark" means, initially, SOFR Index; provided that if IBRD determines
on or prior to the Reference Time that a Benchmark Transition Event and its
related Benchmark Replacement Date have occurred with respect to SOFR Index
(or the published daily SOFR used in the calculation thereof) then "Benchmark"
means the applicable Benchmark Replacement for the SOFR Index; and provided
further that if IBRD determines on or prior to the Reference Time that a
Benchmark Transition Event and its related Benchmark Replacement Date have
occurred with respect to the then-current Benchmark (or the daily published
component used in the calculation thereof), then "Benchmark" means the
applicable Benchmark Replacement for the then-current Benchmark.
"Benchmark Replacement" means the first alternative set forth in the order
below that can be determined by IBRD as of the Benchmark Replacement Date.
(1) the sum of: (a) the alternate rate of interest that has been selected or
recommended by the Relevant Governmental Body as the replacement for the
then-current Benchmark and (b) the Benchmark Replacement Adjustment;
(2) the sum of: (a) the ISDA Fallback Rate and (b) the Benchmark Replacement
Adjustment; or
(3) the sum of: (a) the alternate rate of interest that has been selected by IBRD as
the replacement for the then-current Benchmark giving due consideration to any
industry-accepted rate of interest as a replacement for the then-current
Benchmark for U.S. dollar-denominated floating rate notes at such time and (b)
the Benchmark Replacement Adjustment;
provided that, if a Benchmark Replacement Date has occurred with regard to the
daily published component used in the calculation of a Benchmark, but not with
regard to the Benchmark itself, "Benchmark Replacement" means the references
to the alternatives determined in accordance with clauses (1), (2) or (3) above for
such daily published components.
7

"Benchmark Replacement Adjustment" means the first alternative set forth in
the order below that can be determined by IBRD as of the Benchmark
Replacement Date:
(1) the spread adjustment, or method for calculating or determining such spread
adjustment, (which may be a positive or negative value or zero) that has been
selected or recommended by the Relevant Governmental Body for the applicable
Unadjusted Benchmark Replacement;
(2) if the applicable Unadjusted Benchmark Replacement is equivalent to the
ISDA Fallback Rate, the ISDA Fallback Adjustment; or
(3) the spread adjustment (which may be a positive or negative value or zero) that
has been selected by IBRD giving due consideration to any industry-accepted
spread adjustment, or method for calculating or determining such spread
adjustment, for the replacement of the then-current Benchmark (or the daily
published component used in the calculation thereof) with the applicable
Unadjusted Benchmark Replacement for U.S. dollar-denominated floating rate
notes at such time.
"Benchmark Replacement Conforming Changes" means, with respect to any
Benchmark 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 IBRD decides may be appropriate to reflect the adoption of such
Benchmark Replacement in a manner substantially consistent with market
practice (or, if IBRD decides that adoption of any portion of such market practice
is not administratively feasible or if IBRD determines that no market practice for
use of the Benchmark Replacement exists, in such other manner as IBRD
determines is reasonably necessary); provided that, for the avoidance of doubt, if
a Benchmark Replacement Date has occurred with regard to the daily published
component used in the calculation of a Benchmark, but not with regard to the
Benchmark itself, "Benchmark Replacement Conforming Changes" shall also
mean that IBRD may calculate the Benchmark Replacement for such Benchmark
in accordance with the formula for and method of calculating such Benchmark
last in effect prior to Benchmark Replacement Date affecting such component,
substituting the affected component with the relevant Benchmark Replacement
for such component.
"Benchmark Replacement Date" means the earliest to occur of the following
events with respect to the then-current Benchmark (or the daily published
component used in the calculation thereof):
(1) in the case of clause (1) or (2) of the definition of "Benchmark Transition
Event," the later of (a) the date of the public statement or publication of
information referenced therein and (b) the date on which the administrator of the
Benchmark permanently or indefinitely ceases to provide the Benchmark (or such
component); or
(2) in the case of clause (3) of the definition of "Benchmark Transition Event,"
the later of (x) the date of the public statement or publication of information
referenced therein and (y) the first date on which such Benchmark (or such
component) is no longer representative per such statement or publication.

8

For the avoidance of doubt, if the event that gives rise to the Benchmark
Replacement Date occurs on the same day as, but earlier than, the Reference Time
in respect of any determination, the Benchmark Replacement Date will be
deemed to have occurred prior to the Reference Time for such determination.
"Benchmark Transition Event" means the occurrence of one or more of the
following events with respect to the then-current Benchmark (or the daily
published component used in the calculation thereof):
(1) a public statement or publication of information by or on behalf of the
administrator of the Benchmark (or such component) announcing that such
administrator has ceased or will cease to provide the Benchmark (or such
component), permanently or indefinitely, provided that, at the time of such
statement or publication, there is no successor administrator that will continue to
provide the Benchmark (or such component); or
(2) a public statement or publication of information by the regulatory supervisor
for the administrator of the Benchmark (or such component), the central bank for
the currency of the Benchmark (or such component), an insolvency official with
jurisdiction over the administrator for the Benchmark (or such component), a
resolution authority with jurisdiction over the administrator for the Benchmark
(or such component) or a court or an entity with similar insolvency or resolution
authority over the administrator for the Benchmark, which states that the
administrator of the Benchmark (or such component) has ceased or will cease to
provide the Benchmark (or such component) permanently or indefinitely,
provided that, at the time of such statement or publication, there is no successor
administrator that will continue to provide the Benchmark (or such component);
or
(3) a public statement or publication of information by the regulatory supervisor
for the administrator of the Benchmark announcing (A) that such Benchmark (or
its component) 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 Benchmark (or its component) 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.
"ISDA Definitions" means the 2006 ISDA Definitions published by the
International Swaps and Derivatives Association, Inc. or any successor thereto,
as amended or supplemented from time to time, or any successor definitional
booklet for interest rate derivatives published from time to time.
"ISDA Fallback Adjustment" means the spread adjustment (which may be a
positive or negative value or zero) that would apply for derivatives transactions
referencing the ISDA Definitions to be determined upon the occurrence of an
index cessation event with respect to the Benchmark (or the daily published
component used in the calculation thereof).
"ISDA Fallback Rate" means the rate that would apply for derivatives
transactions referencing the ISDA Definitions to be effective upon the occurrence
of an index cessation date with respect to the Benchmark (or the daily published
component used in the calculation thereof) for the applicable tenor excluding the
applicable ISDA Fallback Adjustment.

9

"Reference Time" with respect to any determination of the Benchmark (or the
daily published component used in the calculation thereof) means (1) if the
Benchmark is SOFR Index, the SOFR Index Determination Time, and (2) if the
Benchmark is not SOFR Index, the time determined by IBRD after giving effect
to the Benchmark Replacement Conforming Changes.
"Relevant Governmental Body" means the Federal Reserve Board and/or the
Federal Reserve Bank of New York, or a committee officially endorsed or
convened by the Federal Reserve Board and/or the Federal Reserve Bank of New
York or any successor thereto.
"Unadjusted Benchmark Replacement" means the Benchmark Replacement
excluding the Benchmark Replacement Adjustment.
PROVISIONS RELATING TO REDEMPTION
18. Call Option (Condition 6(d)):
Not Applicable
19. Put Option (Condition 6(e)):
Not Applicable
20. Final Redemption Amount of each

Note (Condition 6):
(i) Index/Formula/Other variable:
The Final Redemption Amount shall be calculated in accordance with Term
20(iii).
(ii) Party responsible for
Citibank, N.A., London Branch
calculating the Final Redemption
Amount:

(iii) Provisions for determining
An amount per Calculation Amount equal to the Redemption Amount per
Final Redemption Amount where
Calculation Amount calculated as of the Redemption Amount Payment Date in
accordance with Term 26(iv). For the avoidance of doubt, accrued interest
calculated by reference to Index
calculated in accordance with Term 17 shall also be paid on such Redemption
and/or Formula and/or other
Amount Payment Date, and no further interest will be paid with respect to the
variable:
Notes.
(iv) Provisions for determining
Not Applicable
Final Redemption Amount where
calculation by reference to Index

and/or Formula and/or other
variable is impossible or
impracticable or otherwise
disrupted:
(v) Payment Date:
The Redemption Amount Payment Date, as specified in Term 26(iv).
(vi) Minimum Final Redemption
US$0 per Calculation Amount
Amount:
10