Bond Interamerican Development Bank 9.65% ( XS2388204138 ) in BRL

Interamerican Development Bank

100 % ⇌

United States

XS2388204138 ( in BRL )

9.65% per year ( payment 1 time a year)

29/09/2031

Prospectus brochure of the bond Inter-American Development Bank (IDB) XS2388204138 en BRL 9.65%, maturity 29/09/2031

5 000 BRL

58 800 000 BRL

29/09/2026 ( In 232 days )

The Inter-American Development Bank (IDB) is a regional development bank that provides loans, grants, and technical assistance to its borrowing member countries in Latin America and the Caribbean to promote economic development and social progress.

The Inter-American Development Bank (IDB) issued a 9.65% Brazilian Real (BRL)-denominated bond (XS2388204138) with a total issuance size of BRL 58,800,000, maturing on September 29, 2031, trading at 100% of par value, paying interest annually with a minimum purchase size of BRL 5,000.

EXECUTION VERSION
PRICING SUPPLEMENT
Inter-American Development Bank
Global Debt Program
Series No.: 810
BRL 58,800,000 9.65 percent Notes due September 29, 2031 (the "Notes")
Payable in United States Dollars
Issue Price: 100 percent
Application has been made for the Notes to be admitted to the
Official List of the Financial Conduct Authority and
to trading on the London Stock Exchange plc's
UK Regulated Market
Citigroup
The date of this Pricing Supplement is September 22, 2021
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 810
BRL 58,800,000 9.65 percent Notes due September 29, 2031
4839-8650-3930 v.2

The Notes will be treated as issued with original issue discount and are not intended for
sale or resale to U.S. persons.
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 July 28, 2020 (the
"Prospectus") (which for the avoidance of doubt does not constitute a prospectus for the
purposes of Part VI of the United Kingdom ("UK") Financial Services and Markets Act 2000
or a base prospectus for the purposes of Regulation (EU) 2017/1129 (as amended, the
"Prospectus Regulation") or the Prospectus Regulation as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018 ("EUWA")). This Pricing Supplement
must be read in conjunction with the Prospectus. This document is issued to give details of an
issue by the Inter-American Development Bank (the "Bank") under its Global Debt Program
and to provide information supplemental to the Prospectus. Complete information in respect
of the Bank and this offer of the Notes is only available on the basis of the combination of this
Pricing Supplement and the Prospectus.
UK MiFIR product governance / Retail investors, professional investors and ECPs target
market  See "General Information--Additional Information Regarding the Notes--Matters
relating to UK MiFIR" below.
Terms and Conditions
The following items under this heading "Terms and Conditions" are the particular terms which
relate to the issue the subject of this Pricing Supplement. Together with the applicable
Conditions (as defined above), which are expressly incorporated hereto, these are the only
terms that form part of the form of Notes for such issue.
1.
Series No.:
810
2.
Aggregate Principal Amount:
BRL 58,800,000
3.
Issue Price:
BRL 58,800,000, which is 100 percent of the
Aggregate Principal Amount
The Issue Price will be payable in USD in the
amount of USD 11,242,829.83 at the agreed rate
of BRL 5.23 per one USD.
4.
Issue Date:
September 27, 2021
5.
Form of Notes
(Condition 1(a)):
Registered only
6.
New Global Note:
No
2
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 810
BRL 58,800,000 9.65 percent Notes due September 29, 2031
4839-8650-3930 v.2

7.
Authorized Denomination(s)
(Condition 1(b)):
BRL 5,000
8.
Specified Currency
(Condition 1(d)):
Brazilian Real ("BRL"), the lawful currency of
the Federative Republic of Brazil, provided that
all payments in respect of the Notes will be
made in United States Dollars ("USD")
9.
Specified Principal Payment
Currency
(Conditions 1(d) and 7(h)):
USD
10. Specified Interest Payment Currency
(Conditions 1(d) and 7(h)):
USD
11. Maturity Date
(Condition 6(a); Fixed Interest Rate
and Zero Coupon):
September 29, 2031
The Maturity Date is subject to the Business
Day Convention with no adjustment to the
amount of interest otherwise calculated.
Further, the date of payment in respect of the
Maturity Date is subject to postponement if any
of the Applicable Disruption Fallbacks apply,
with no adjustment to the amount of interest
otherwise calculated.
12. Interest Basis
(Condition 5):
Fixed Interest Rate (Condition 5(I))
13. Interest Commencement Date
(Condition 5(III)) :
Issue Date (September 27, 2021)
14. Fixed Interest Rate (Condition 5(I)):
(a) Interest Rate:
9.65 percent per annum
(b) Fixed Rate Interest Payment
Date(s):
Annually on September 29 in each year,
commencing with a long first coupon on
September 29, 2022, up to and including the
Maturity Date.
3
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 810
BRL 58,800,000 9.65 percent Notes due September 29, 2031
4839-8650-3930 v.2

Each Fixed Rate Interest Payment Date is
subject to the Business Day Convention with
no adjustment to the amount of interest
otherwise calculated. Further, the date of
payment in respect of each Fixed Rate Interest
Payment Date is subject to postponement if any
of the Applicable Disruption Fallbacks apply,
with no adjustment to the amount of interest
otherwise calculated.
Calculation of Interest Amount:
For the purposes of the calculation of the
Interest Amount payable for any Interest Period,
there shall be no adjustment pursuant to the
Business Day Convention.
As soon as practicable and in accordance with
the procedure specified herein, the Calculation
Agent will determine the Reference Rate (as
defined below) and calculate the Interest
Amount with respect to each minimum
Authorized Denomination for the relevant
Interest Period.
The Interest Amount with respect to the Interest
Period from and including the Interest
Commencement Date to but excluding
September 29, 2022 shall be a USD amount
calculated using the Reference Rate determined
as of the relevant Rate Fixing Date (as defined
below) as follows:
BRL 485.14 per minimum Authorized
Denomination
divided by
the Reference Rate
(and rounding, if necessary, the entire resulting
figure to the nearest two decimal places, with
USD 0.005 being rounded upwards).
The Interest Amount with respect to each
subsequent Interest Period shall be a USD
4
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 810
BRL 58,800,000 9.65 percent Notes due September 29, 2031
4839-8650-3930 v.2

amount calculated using the Reference Rate
determined as of the relevant Rate Fixing Date
as follows:
BRL 482.50 per minimum Authorized
Denomination
divided by
the Reference Rate
(and rounding, if necessary, the entire resulting
figure to the nearest two decimal places, with
USD 0.005 being rounded upwards).
"Brazil Business Day" means a day (other than a
Saturday or a Sunday) on which banks and
foreign exchange markets are open for business
in Rio de Janeiro, Brasilia and São Paulo.
"PTAX Rate" means, in respect of a Rate Fixing
Date, the closing BRL/USD offered rate for
USD, expressed as the number of BRL per one
USD, as reported by Banco Central do Brasil on
its website (www.bcb.gov.br; see "Cotações e
boletins"), or any succeeding rate source, by
approximately 1:15 p.m. São Paulo time on such
Rate Fixing Date and as published on Reuters
Screen "BRLUSDPTAX= CBBR" Page (or such
other page or services as may replace that page
to be used for the purpose of obtaining the
reference rate), provided that in the event of any
inconsistency between such rate on Banco
Central do Brasil's website and such rate on
Reuters Screen "BRLUSDPTAX= CBBR"
Page, the closing BRL/USD offered rate
published on Banco Central do Brasil's website
shall prevail.
"Rate Fixing Date" for any Interest Payment
Date or the Maturity Date or date on which an
amount is payable means the fifth Valuation
Business Day prior to such date.
"Reference Rate" means, in respect of a Rate
5
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 810
BRL 58,800,000 9.65 percent Notes due September 29, 2031
4839-8650-3930 v.2

Fixing Date:
(a) the PTAX Rate; or
(b) in the event that the PTAX Rate is not
available or an Exchange Rate Divergence has
occurred on the relevant Rate Fixing Date, the
Calculation Agent shall determine that a "Price
Source Disruption" has occurred, and shall
promptly inform the Bank, the Noteholders and
the Global Agent of such occurrence. For the
purposes of obtaining a Reference Rate, the
Applicable Disruption Fallbacks will apply.
"Valuation Business Day" means a day on
which commercial banks are open for general
business (including dealing in foreign exchange
and foreign currency deposits) in Rio de Janeiro,
Brasilia, São Paulo and New York.
Applicable Disruption Fallbacks (in order of
application):
1. Valuation Postponement. For purposes of
obtaining a Reference Rate, the Reference Rate
will be determined on the Valuation Business
Day first succeeding the day on which the Price
Source Disruption ceases to exist, unless the
Price Source Disruption continues to exist
(measured from the date, that, but for the
occurrence of the Price Source Disruption,
would have been the Rate Fixing Date) for a
consecutive number of calendar days equal to
the Maximum Days of Postponement. In such
event, the Reference Rate will be determined on
the next Valuation Business Day after the
Maximum Days of Postponement in accordance
with the next Applicable Disruption Fallback.
2. Calculation Agent Determination of the
Reference Rate. For purposes of obtaining a
Reference Rate, the Calculation Agent will
determine the Reference Rate (or a method for
determining the Reference Rate) in its sole
discretion, acting in good faith and in a
6
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 810
BRL 58,800,000 9.65 percent Notes due September 29, 2031
4839-8650-3930 v.2

commercially reasonable manner.
Notwithstanding anything herein to the contrary,
in no event shall the total number of consecutive
calendar days during which either (i) valuation
is deferred due to an Unscheduled Holiday, or
(ii) a Valuation Postponement shall occur (or
any combination of (i) and (ii)), exceed 30
consecutive calendar days in the aggregate.
Accordingly, (x) if, upon the lapse of any such
30 day period, an Unscheduled Holiday shall
have occurred or be continuing on the day
following such period, then such day shall be
deemed to be a Rate Fixing Date, and (y) if,
upon the lapse of any such 30 day period, a
Price Source Disruption shall have occurred or
be continuing on the day following such period,
then the Valuation Postponement shall not apply
and the Reference Rate shall be determined in
accordance with the next Applicable Disruption
Fallback (i.e., Calculation Agent Determination
of the Reference Rate).
"EMTA BRL Exchange Rate Divergence
Procedures" means the EMTA BRL Exchange
Rate Divergence Procedures published by
EMTA on January 22, 2018 (as amended from
time to time).
"EMTA BRL Report Event" means that EMTA
(EMTA, Inc., formerly the Emerging Markets
Trading Association, Inc.) has provided notice to
the EMTA membership, that, in the reasonable
and independent judgement, as notified to
EMTA in accordance with the EMTA BRL
Exchange Rate Divergence Procedures, of not
less than 7 unaffiliated EMTA members that are
recognized market makers active in the
BRL/USD foreign exchange market (no less
than 4 of which shall be active participants in
the onshore BRL/USD spot market), the PTAX
Rate (following a split of the exchange rates in
Brazil or otherwise) no longer reflects the then-
prevailing BRL/USD spot rate for standard-size

7

PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 810
BRL 58,800,000 9.65 percent Notes due September 29, 2031
4839-8650-3930 v.2

wholesale financial transactions involving the
exchange of BRL for USD delivered outside of
Brazil.
"Exchange Rate Divergence" means that an
EMTA BRL Report Event has occurred with
respect to the PTAX Rate.
"Maximum Days of Postponement" means 30
calendar days.
"Unscheduled Holiday" means a day that is not
a Valuation Business Day and the market was
not aware of such fact (by means of a public
announcement or by reference to other publicly
available information) until a time later than
9:00 a.m. local time in São Paulo two Valuation
Business Days prior to the relevant Rate Fixing
Date.
(c) Business Day Convention:
Following Business Day Convention
(d) Fixed Rate Day Count
Fraction(s):
Actual/Actual (ICMA)
(e) Calculation Agent:
Citibank, N.A., New York
15. Relevant Financial Center:
Rio de Janeiro, Brasilia, São Paulo, London and
New York
16. Relevant Business Days:
Rio de Janeiro, Brasilia, São Paulo, London and
New York
17. Redemption Amount (Condition
6(a)):
The Redemption Amount with respect to each
minimum Authorized Denomination will be a
USD amount calculated by the Calculation
Agent as of the Rate Fixing Date with respect to
the Maturity Date as follows:
minimum Authorized Denomination
divided by
the Reference Rate
8
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 810
BRL 58,800,000 9.65 percent Notes due September 29, 2031
4839-8650-3930 v.2

(and rounding, if necessary, the entire resulting
figure to the nearest 2 decimal places, with USD
0.005 being rounded upwards).
Payment of the Redemption Amount will occur
on the Maturity Date, as may be postponed
pursuant to paragraph 11 above.
18. Issuer's Optional Redemption
(Condition 6I):
No
19. Redemption at the Option of the
Noteholders (Condition 6(f)):
No
20. Early Redemption Amount
(including accrued interest, if
applicable) (Condition 9):
In the event the Notes become due and payable
as provided in Condition 9 (Default), the Early
Redemption Amount with respect to each
minimum Authorized Denomination will be a
USD amount equal to the Redemption Amount
that is determined in accordance with "17.
Redemption Amount (Condition 6(a))" plus
accrued and unpaid interest, if any, as
determined in accordance with "14. Fixed
Interest Rate (Condition 5(I))"; provided, that
for purposes of such determination, the "Rate
Fixing Date" shall be the date that is five (5)
Valuation Business Days prior to the date upon
which the Notes become due and payable as
provided in Condition 9 (Default).
21. Governing Law:
New York
Other Relevant Terms
1.
Listing:
Application has been made for the Notes to be
admitted to the Official List of the Financial
Conduct Authority and to trading on the London
Stock Exchange plc's UK Regulated Market
with effect from the Issue Date.
9
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 810
BRL 58,800,000 9.65 percent Notes due September 29, 2031
4839-8650-3930 v.2

2.
Details of Clearance System
Approved by the Bank and the
Global Agent and Clearance and
Settlement Procedures:
Euroclear Bank SA/NV and/or Clearstream
Banking, S.A.
3.
Syndicated:
No
4.
Commissions and Concessions:
No commissions or concessions are payable in
respect of the Notes. An affiliate of the Dealer
has arranged a swap with the Bank in connection
with this transaction and will receive amounts
thereunder that may comprise compensation.
5.
Estimated Total Expenses:
None. The Dealer has agreed to pay for all
material expenses related to the issuance of the
Notes, except the Bank will pay for the London
Stock Exchange listing fees.
6.
Codes:
(a) Common Code:
238820413
(b) ISIN:
XS2388204138
7.
Identity of Dealer:
Citigroup Global Markets Limited
8.
Provision for Registered Notes:
(a) Individual Definitive
Registered Notes Available
on Issue Date:
No
(b) DTC Global Note(s):
No
(c) Other Registered Global
Notes:
Yes, issued in accordance with the Amended
and Restated Global Agency Agreement, dated
as of July 28, 2020, between the Bank, Citibank,
N.A., London Branch as Global Agent, and the
other parties thereto.
9.
Intended to be held in a manner
which would allow Eurosystem
10
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 810
BRL 58,800,000 9.65 percent Notes due September 29, 2031
4839-8650-3930 v.2

Document Outline

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