Bond IBRD-Global 1.5% ( XS2436817584 ) in NOK

IBRD-Global

100 % ▼

United States

XS2436817584 ( in NOK )

1.5% per year ( payment 1 time a year)

26/01/2029

Prospectus brochure of the bond IBRD XS2436817584 en NOK 1.5%, maturity 26/01/2029

10 000 NOK

1 000 000 000 NOK

26/01/2026 ( In 86 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 NOK, with the ISIN code XS2436817584, pays a coupon of 1.5% per year.
The coupons are paid 1 time per year and the Bond maturity is 26/01/2029

Final Terms dated 21 January 2022

International Bank for Reconstruction and Development

Issue of NOK 1,000,000,000 Floating Rate Notes due 26 January 2029

under the
Global Debt Issuance Facility

Terms used herein shal be deemed to be defined as such for the purposes of the terms and conditions
(the "Conditions") set forth in the Prospectus dated 24 September 2021. This document constitutes the
Final Terms of the Notes described herein and must be read in conjunction with such Prospectus.
MiFID II 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:
101498
(ii) Tranche Number:
1
3. Specified Currency or Currencies
Norwegian Krone ("NOK")
(Condition 1(d)):
4. Aggregate Nominal Amount:

(i) Series:
NOK 1,000,000,000
(ii) Tranche:
NOK 1,000,000,000
5. (i) Issue Price:
110.173 per cent. of the Aggregate Nominal Amount
(ii) Net proceeds:
NOK 1,100,127,500
6. Specified Denominations
NOK 10,000
(Condition 1(b)):
7. Issue Date:
26 January 2022
8. Maturity Date (Condition 6(a)):
The Specified Interest Payment Date falling in January 2029
9. Interest Basis (Condition 5):
Floating Rate
(further particulars specified below)
10. Redemption/Payment Basis
Redemption at par
(Condition 6):
11. Change of Interest or
Not Applicable
Redemption/Payment Basis:
12. Call/Put Options (Condition 6):
Not Applicable
13. Status of the Notes (Condition 3):
Unsecured and unsubordinated
14. Listing:
Luxembourg Stock Exchange
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15. Method of distribution:
Non-syndicated
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
16. Floating Rate Note Provisions
Applicable
(Condition 5(b)):

(i)
Interest Period(s):
As specified in Condition 5(l)
(ii)
Specified Interest Payment 26 January, 26 April, 26 July and 26 October of each year,
Dates:
from and including 26 April 2022 to and including the
Maturity Date, subject to adjustment in accordance with the
Business Day Convention specified below.
(iii)
Interest Period Dates:
Each Specified Interest Payment Date
(iv)
Business Day Convention: Following Business Day Convention
(v)
Business Centre(s)
London, New York and Oslo
(Condition 5(l)):
(vi)
Manner in which the
Screen Rate Determination
Rate(s) 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
Applicable
Bank Determination
(Condition 5(b)(ii)(C)):
Relevant Time:
12:00 Oslo time
Interest Determination
Second Oslo Business Day prior to the first day of
Date:
each Interest Period
Primary Source for
Reuters Screen "OIBOR" Page
Floating Rate:
Relevant Financial
Oslo
Centre:
Benchmark:
NIBOR
Specified Duration:
3 months
(ix)
Margin(s):
Plus 1.50 per cent. per annum
(x)
Minimum Rate of Interest: 0.00 per cent. per annum
(xi)
Maximum Rate of Interest: Not Applicable
(xii) Day Count Fraction
Actual/360
(Condition 5(l)):
(xiii) Fall back provisions,
If the Calculation Agent determines that a NIBOR Disruption
rounding provisions,
Event has occurred, then the Rate of Interest will be
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denominator and any other determined by reference to any alternative page or
terms relating to the
benchmark, which the Issuer, in good faith and after
method of calculating
consultation with the Dealer, has determined to have
interest on Floating Rate
replaced NIBOR in customary market usage for purposes of
Notes, if different from
determining floating rates of interest on the same interest
those set out in the
basis and in the same currency as the Notes. The Issuer may,
Conditions:
acting in good faith and after consultation with the Dealer,
also apply an adjustment spread. In considering whether or
not to apply any adjustment spread (which may be positive,
negative or zero), the Issuer shall have regard to (i) the
applicable market practice at the relevant time, (ii) any
guidance from any relevant authority with respect to the
application of any adjustment spread upon the transition from
one benchmark to another and (ii ) any other factors which
the Issuer considers to be appropriate in the circumstances. If
the Issuer, following consultation with the Dealer is unable
to determine the quantum of, or a formula or methodology
for determining, such adjustment spread, then the alternative
page or benchmark (as applicable) will apply without an
adjustment spread. Such alternative page or benchmark and
any applicable adjustment spread will be notified by the
Issuer to the Global Agent and the Noteholders in accordance
with Condition 12.
Provided, however, that, if the Issuer determines, in good
faith and after consultation with the Dealer, that there is no
clear market consensus as to whether any page or benchmark
has replaced NIBOR in customary market usage, then the
Rate of Interest under the Notes wil be the Rate of Interest
as determined in accordance with, and described in, Terms
16(i) to (xii) above in respect of the last preceding Reset Date
with regard to which no NIBOR Disruption Event has
occurred (the "Fallback Rate").

"NIBOR Disruption Event" means that NOK-NIBOR-
OIBOR no longer appears on the Page as stated in Term
16(viii) above, following the occurrence of one or more of
the following events: (i) the insolvency of the NIBOR
administrator (and there is no successor administrator), or (ii)
the NIBOR administrator has made a public statement that it
has ceased or that it will cease publishing NIBOR
permanently or indefinitely (and there is no successor
administrator that wil continue publication of NIBOR), (i i)
the supervisor for the NIBOR administrator has made a
public statement that NIBOR has been permanently or
indefinitely discontinued, (iv) the supervisor for the NIBOR
administrator, or any other relevant competent authority or
official body in either the European Union or Norway, has
made a public statement that NIBOR is no longer
representative or may no longer be used, or (v) it has become
unlawful for any Paying Agent, the Calculation Agent or the
Issuer to calculate any payments due to be made to any
Noteholder using NIBOR, provided that the NIBOR
Disruption Event shall be deemed to occur (a) in the case of
sub-paragraphs (ii) and (i i), on the date of the cessation of
publication of NIBOR or the discontinuation of NIBOR, as
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the case may be, and (b) in the case of sub-paragraph (iv), on
the date with effect from which the NIBOR will no longer be
(or will be deemed by the relevant supervisor to no longer
be) representative of its relevant underlying market and
which is specified in the relevant public statement, and, in
each case, not the date of the relevant public statement.

PROVISIONS RELATING TO REDEMPTION
17. Final Redemption Amount of each NOK 10,000 per Specified Denomination
Note (Condition 6):
18. Early Redemption Amount
As set out in the Conditions
(Condition 6(c)):
GENERAL PROVISIONS APPLICABLE TO THE NOTES
19. Form of Notes (Condition 1(a)):
Registered Notes:

Global Registered Certificate available on Issue Date
20. New Global Note / New
No
Safekeeping Structure:
21. Financial Centre(s) or other special London, New York and Oslo
provisions relating to payment
dates (Condition 7(h)):
22. Governing law (Condition 14):
English
23. Other final terms:
Not Applicable
24. Additional risk factors:
An investment in the Notes is subject to the risks
described below, as well as the risks described under
"Risk Factors" in the accompanying Prospectus.
Uncertainty about the future of NIBOR may adversely
affect the Rate of Interest and therefore the return on,
and the value of, the Notes.
Reference rates and indices, including interest rate
benchmarks, such as the Norwegian Interbank Offered Rate
("NIBOR"), which are used to determine the amounts
payable under financial instruments or the value of such
financial instruments ("Benchmarks"), have been the
subject of political and regulatory scrutiny as to how they are
created and operated. This has resulted in regulatory reform
and changes to existing Benchmarks, with further changes
anticipated. These reforms and changes may cause a
Benchmark to perform differently than it has done in the past
or to be discontinued. Any change in the performance of a
Benchmark or its discontinuation, could have a material
adverse effect on any Notes referencing or linked to such
Benchmark.
Changes to the administration of a Benchmark or the
emergence of alternatives to a Benchmark, may cause such
Benchmark to perform differently than in the past, or there
could be other consequences which cannot be predicted. The
discontinuation of a Benchmark or changes to its
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administration could require changes to the way in which the
Rate of Interest is calculated in respect of any Notes
referencing or linked to such Benchmark. The development
of alternatives to a Benchmark may result in Notes linked to
or referencing such Benchmark performing differently than
would otherwise have been the case if the alternatives to such
Benchmark had not developed. Any such consequence could
have a material adverse effect on the value of, and return on,
any Notes linked to or referencing such Benchmark.
To the extent the NIBOR rate is discontinued or is no longer
quoted following any reforms to NIBOR, the applicable rate
and any adjustment spread applied thereto used to calculate
the Rate of Interest on these Notes wil be determined using
the alternative methods described in Term 16 (xiii).
Any of these alternative methods may result in interest
payments that are lower than or do not otherwise correlate
over time with the payments that would have been made on
the Notes if the NOK NIBOR rate had been available in its
current form.
Also, in the event of a NIBOR Disruption Event, the Issuer
has the authority to determine, in good faith and after
consultation with the Dealer whether or not a clear market
consensus exists as to whether any page or benchmark has
replaced NIBOR in customary market usage and whether or
not any adjustment spread must be applied. The outcome of
such decisions will determine which rate will be used to
determine the Interest Amount due under the Notes and in
making such determination, the Issuer may have economic
interests adverse to those of the Noteholders.
The final alternative method sets the interest rate for an
interest period at the same rate as the immediately preceding
interest period. As a result, if no amendment is made to the
Conditions, such Notes will become fixed rate notes utilizing
the last available NIBOR rate determined under Term 16.
Additionally, absent any future amendment to the terms and
conditions, such Notes wil continue to pay interest at the
Fallback Rate even if a replacement index is subsequently
established for NIBOR for use in connection with other
securities or for other purposes.
DISTRIBUTION
25. (i) If syndicated, names of
Not Applicable
Managers and underwriting
commitments:
(ii) Stabilizing Manager(s) (if any) Not Applicable

26. If non-syndicated, name of Dealer: DNB Bank ASA
27. Total commission and concession: 0.16025 per cent. of the Aggregate Nominal Amount
28. Additional selling restrictions:
Norway
The Notes shall not be offered or sold, directly or indirectly,
in the Kingdom of Norway or to residents of the Kingdom of
Norway and the Prospectus or any other offering material
relating to the Notes shall not be distributed in or from the
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Kingdom of Norway other than to Norwegian entities with
permission from the Norwegian authorities to conduct
investment services.
29. MiFID II product governance /
Directive 2014/65/EU (as amended, "MiFID II") product
Retail investors, professional
governance / Retail investors, professional investors and
investors and ECPs target market:
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 ECPs, professional
clients and retail clients, each as defined in MiFID II; and (ii)
al channels for distribution of the Notes are appropriate. Any
person subsequently offering, sel ing or recommending the
Notes (a "distributor") should take into consideration the
manufacturer's target market assessment; however, a
distributor subject to MiFID II 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 provision, the expression
"manufacturer" means the Dealer.
IBRD does not fal under the scope of application of the
MiFID II package. Consequently, IBRD does not qualify as
an "investment firm", "manufacturer" or "distributor" for the
purposes of MiFID II.
OPERATIONAL INFORMATION

30. Legal Entity Identifier of Issuer:
ZTMSNXROF84AHWJNKQ93
31. ISIN Code:
XS2436817584
32. Common Code:
243681758
33. Delivery:
Delivery versus payment
34. Registrar and Transfer Agent (if
Citibank, N.A., London Branch
any):

35. Intended to be held in a manner
No. Whilst the designation is specified as "no" at the date of
which would allow Eurosystem
these Final Terms, should the Eurosystem eligibility criteria
eligibility:
be amended in the future such that the Notes are capable of
meeting them the Notes may then be deposited with one of
the ICSDs as common safekeeper and registered in the name
of a nominee of one of the ICSDs acting as common
safekeeper. Note that this does not necessarily mean that the
Notes will then be recognized as eligible collateral for
Eurosystem monetary policy and intra-day credit operations
by the Eurosystem at any time during their life. Such
recognition will depend upon the ECB being satisfied that
Eurosystem eligibility criteria have been met.

GENERAL INFORMATION
IBRD's most recent Information Statement was issued on 22 September 2021.

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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.

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RESPONSIBILITY
IBRD accepts responsibility for the information contained in these Final Terms.
Signed on behalf of IBRD:
By: ................................. .......................
Name:
Title:
Duly authorized
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