Bond IBRD-Global 0.2% ( US459058KG74 ) in USD

IBRD-Global

99.63 % ▼

United States

US459058KG74 ( in USD )

0.2% per year ( payment 2 times a year)

14/06/2026

Prospectus brochure of the bond IBRD US459058KG74 en USD 0.2%, maturity 14/06/2026

459058KG7

15/03/2026 ( In 133 days )

The International Bank for Reconstruction and Development (IBRD) is an international financial institution that offers loans and advice to middle-income and creditworthy low-income countries for development projects.

The Bond issued by IBRD-Global ( United States ) , in USD, with the ISIN code US459058KG74, pays a coupon of 0.2% per year.
The coupons are paid 2 times per year and the Bond maturity is 14/06/2026

EXECUTION VERSION

Final Terms dated January 18, 2022
International Bank for Reconstruction and Development

Issue of
US$1,000,000,000 SOFR Index-Linked Floating Rate Notes due June 15, 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:
101485
(ii)
Tranche number:
1
3.
Specified Currency or Currencies
United States Dollar ("US$")
(Condition 1(d)):

4.
Aggregate Nominal Amount

5.
(i)
Series:
US$1,000,000,000

(ii)
Tranche:
US$1,000,000,000

6.
(i)
Issue Price:
100.00 per cent. of the Aggregate Nominal Amount

(ii)
Net proceeds:
US$998,750,000
7.
Specified Denominations (Condition
US$1,000 and integral multiples thereof
1(b)):

8.
Issue Date:
January 20, 2022

9.
Maturity Date (Condition 6(a)):
June 15, 2026
10. Interest basis (Condition 5):
Floating Rate
(further particulars specified below)

11. Redemption/Payment basis
Redemption at par
(Condition 6):

4881-0233-0633 v.2

12. Change of interest or
Not Applicable
redemption/payment basis:

13. Call/Put Options (Condition 6):
Not Applicable

14. Status of the Notes (Condition 3):
Unsecured and unsubordinated

15. Listing:
Luxembourg Stock Exchange

16. Method of distribution:
Syndicated

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
17. Floating Rate Note provisions
Applicable
(Condition 5(b)):
(i)
Interest Period(s):
As set out in Condition 5(l)

(ii)
Specified Interest Payment
March 15, June 15, September 15 and December 15 in each
Dates:
year, from and including March 15, 2022, to and including the
Maturity Date, in each case subject to adjustment in
accordance with the Business Day Convention specified
below.

(iii)
Interest Period Date(s):
Each Specified Interest Payment Date
(iv)
Business Day Convention:
Following Business Day Convention
(v)
Business Centre(s)
New York
(Condition 5(l):
(vi)
Manner in which the Rate(s)
As set out in Term 17(xiv) below
of Interest is/are to be
determined:
(vii)
Party responsible for
Global Agent
calculating the Rate(s) of
Interest and Interest
Amount(s):
(viii)
Screen Rate/Reference Bank
Not Applicable
Determination (Condition
5(b)(ii)(C)):
(ix)
ISDA Determination
Not Applicable
(Condition 5(b)(ii)(B)):
(x)
Margin(s):
Plus 0.18 per cent. per annum

(xi)
Minimum Rate of Interest:
0.00 per cent. per annum

(xii)
Maximum Rate of Interest:
Not Applicable

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

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4881-0233-0633 v.2

(xiv)
Fall back provisions,
Notwithstanding Condition 5(b), the Rate of Interest for each
rounding provisions,
relevant Interest Period shall be determined by the Calculation
denominator and any other
Agent on each Interest Determination Date in accordance with
terms relating to the method
the following provisions. The Rate of Interest for each Interest
of calculating interest on
Period shall apply with effect from and including the first day
Floating Rate Notes, if
of such Interest Period. The Rate of Interest for each Interest
different from those set out
Period will, subject as provided below, be Compounded
in the Conditions:
SOFR plus the Margin.

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, 0.00005 being rounded upwards:

where:
"Interest Determination Date" means the date five U.S.
Government Securities Business Days before each Specified
Interest Payment Date.
"Observation Period" means, in respect of such Interest
Period, the period from, and including, the date which is five
U.S. Government Securities Business Days preceding the first
date of such Interest Period to, but excluding, the date which
is five U.S. Government Securities Business Days preceding
the Interest Payment Date for such Interest Period (or in the
final Interest Period, the Maturity Date).
"SOFR IndexStart" means the SOFR Index value on the day
which is five 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 U.S. Government Securities Business Days
preceding the Interest Payment Date relating to such Interest
Period (or in the final Interest Period, the Maturity Date).
"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 ("NY Fed") 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.

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4881-0233-0633 v.2

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.
"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.
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 the Issuer determines on or prior to the relevant Reference
Time that a Benchmark 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, the Issuer will have the right to make

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4881-0233-0633 v.2

Benchmark 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.
"Benchmark" means, initially, SOFR Index; provided that if
the Issuer 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
the Issuer 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 the Issuer
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 the Issuer 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

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4881-0233-0633 v.2

references to the alternatives determined in accordance with
clauses (1), (2) or (3) above for such daily published
components.
"Benchmark Replacement Adjustment" means the first
alternative set forth in the order below that can be determined
by the Issuer 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 the Issuer
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 the Issuer decides may be
appropriate to reflect the adoption of such Benchmark
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 Issuer determines that no market practice for use of the
Benchmark Replacement exists, in such other manner as the
Issuer 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 the Issuer 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

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4881-0233-0633 v.2

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.
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

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4881-0233-0633 v.2

(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 2021 ISDA Interest Rate
Derivatives 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.
"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 the
Issuer 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.

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4881-0233-0633 v.2

PROVISIONS RELATING TO REDEMPTION
18. Final Redemption Amount of each
US$1,000 per minimum Specified Denomination
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)):
Fed Bookentry Notes:
Fed Bookentry Notes available on Issue Date

21. New Global Note / New Safekeeping No
Structure:

22. Financial Centre(s) or other special
New York
provisions relating to payment dates

(Condition 7(h)):
23. Governing law (Condition 14):
New York

24. Other final terms:
Not Applicable
DISTRIBUTION
25. (i)
If syndicated, names of
BMO Capital Markets Corp.:
US$306,667,000
Managers and underwriting
Scotiabank Europe plc:
US$306,667,000
commitments:
Wells Fargo Securities LLC:
US$306,666,000
CastleOak Securities, L.P.:
US$80,000,000
(ii)
Stabilizing Manager(s) (if
Not Applicable
any):

26. If non-syndicated, name of Dealer:
Not Applicable

27. Total commission and concession:
0.125 per cent. of the Aggregate Nominal Amount

28. Additional selling restrictions:
Not Applicable

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")

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4881-0233-0633 v.2

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
Scotiabank Europe plc.
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:
US459058KG74
32. Common Code:
243484898
33. CUSIP:
459058KG7
34. Any clearing system(s) other than
Bookentry system of the Federal Reserve Banks
Euroclear Bank SA/NV, Clearstream
Banking, S.A. and The Depository
Trust Company and the relevant
identification number(s):
35. Delivery:
Delivery versus payment
36. Intended to be held in a manner
Not Applicable
which would allow Eurosystem
eligibility:
GENERAL INFORMATION
IBRD's most recent Information Statement was issued on September 22, 2021.
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.
The Managers are represented by Sullivan & Cromwell LLP. From time to time Sullivan & Cromwell LLP
performs legal services for IBRD.
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.
RISK FACTORS
The Prospectus and these Final Terms do not describe all of the risks and other ramifications of
an investment in the Notes. An investment in the Notes entails significant risks not associated with an

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