Bond IBRD-Global 6.3% ( XS2471919253 ) in CLP

Issuer IBRD-Global
Market price refresh price now   100 %  ⇌ 
Country  United States
ISIN code  XS2471919253 ( in CLP )
Interest rate 6.3% per year ( payment 1 time a year)
Maturity 27/04/2026



Prospectus brochure of the bond IBRD XS2471919253 en CLP 6.3%, maturity 27/04/2026


Minimal amount 1 000 000 CLP
Total amount 20 000 000 000 CLP
Next Coupon 27/04/2026 ( In 176 days )
Detailed description 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 CLP, with the ISIN code XS2471919253, pays a coupon of 6.3% per year.
The coupons are paid 1 time per year and the Bond maturity is 27/04/2026







Final Terms dated 22 April 2022
International Bank for Reconstruction and Development
Issue of CLP 20,000,000,000 6.25 per cent. Notes due 27 April 2026
payable in United States Dollars

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 / Professional investors and ECPs target market ­ See
Term 28 below.


SUMMARY OF THE NOTES
1.
Issuer:
International Bank for Reconstruction and Development
("IBRD")
2.
(i)
Series number:
101536

(ii)
Tranche number:
1



3.
Specified Currency or Currencies
The lawful currency of the Republic of Chile ("Chilean Peso"
(Condition 1(d)):
or "CLP"), provided that all payments in respect of the Notes
will be made in United States Dollars ("USD")
4.
Aggregate Nominal Amount


(i)
Series:
CLP 20,000,000,000

(ii)
Tranche:
CLP 20,000,000,000
5.
(i)
Issue Price:
99.477 per cent. of the Aggregate Nominal Amount

(ii)
Net proceeds:
USD 24,456,545.79 (equivalent to CLP 19,895,400,000 at the
USD/CLP exchange rate of CLP 813.50 per USD 1.00)
6.
Specified Denominations
CLP 1,000,000
(Condition 1(b)):
7.
Issue Date:
27 April 2022
8.
Maturity Date (Condition 6(a)):
27 April 2026, unless the corresponding FX Valuation Date is
postponed beyond the Scheduled FX Valuation Date due to an
Unscheduled Holiday or because a Price Source Disruption in
respect of the FX Rate has occurred, in which case the
Maturity Date shall be postponed to the fifth Business Day
after the date on which the FX Rate is determined (further
particulars specified below in Term 16(vii)). For the
avoidance of doubt, no additional interest or other additional
amounts shall be payable by IBRD in the event that the
Maturity Date is so postponed.
9.
Interest basis (Condition 5):
6.25 per cent. Fixed Rate
(further particulars specified below)


10.
Redemption/Payment basis
Redemption at par, payable in USD
(Condition 6):
(further particulars specified below)
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
15.
Method of distribution:
Non-syndicated
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
16.
Fixed Rate Note provisions
Applicable
(Condition 5(a)):

(i)
Rate of Interest:
6.25 per cent. per annum payable semi-annually in arrear

(ii)
Interest Payment Date(s):
27 April and 27 October, in each year, from and including 27
October 2022 to and including the Maturity Date, unless the
corresponding FX Valuation Date is postponed beyond the
Scheduled FX Valuation Date due to an Unscheduled Holiday
or because a Price Source Disruption in respect of the FX Rate
has occurred, in which case the Interest Payment Date shall be
postponed to the fifth Business Day after the date on which
the FX Rate is determined (further particulars specified below
in Term 16(vii)).
For the avoidance of doubt, no additional interest or other
additional amounts shall be payable by IBRD in the event that
the relevant Interest Payment Date is so postponed.

(iii)
Interest Period Date(s):
27 April and 27 October in each year, from and including 27
October 2022 to and including the Maturity Date, not subject
to adjustment in accordance with a Business Day Convention

(iv)
Business Day Convention:
Not Applicable

(v)
Day Count Fraction
Actual/Actual ICMA
(Condition 5(l)):

(vi)
Interest Amount:
The Interest Amount payable per Specified Denomination on
each Interest Payment Date will be an amount in USD
determined by the Calculation Agent on the relevant FX
Valuation Date equal to the product of:
(a) the Specified Denomination multiplied by the
Rate of Interest;
(b) 1 divided by the FX Rate on such FX Valuation
Date (as defined in Term 16(vii) below); and
(c) the Day Count Fraction.

(vii)
Disruption Provisions and
Disruption Provisions:
Definitions:
If, in respect of an FX Valuation Date, a Price Source
Disruption has occurred or exists in respect of the FX Rate,
the Calculation Agent shall obtain the FX Rate for such FX
Valuation Date by applying the provisions of the following
fallbacks (the "Disruption Fallbacks") in the order below:


(i)
Valuation Postponement;
(ii)
Dealer Poll (provided the FX Rate cannot be determined
in accordance with (i) above); and
(iii) Calculation Agent Determination of FX Rate (provided
that the FX Rate cannot be determined in accordance
with (i) or (ii) above).
In the event that an FX Valuation Date is postponed beyond
the relevant Scheduled FX Valuation Date due to an
Unscheduled Holiday or because a Price Source Disruption in
respect of the FX Rate has occurred, the relevant Interest
Payment Date, the Early Redemption Date or the Maturity
Date, as applicable, shall be postponed to the fifth Business
Day after the date on which the FX Rate is determined.
For the avoidance of doubt, no additional interest or other
additional amounts shall be payable by IBRD in the event that
the relevant Interest Payment Date, the Early Redemption
Date or the Maturity Date is postponed.
Cumulative Events:
Notwithstanding anything herein to the contrary, in no event
shall the total number of consecutive calendar days during
which either (i) an FX Valuation Date is postponed due to an
Unscheduled Holiday, or (ii) a Valuation Postponement shall
occur (or any combination of (i) and (ii)), exceed 14
consecutive calendar days in the aggregate. Accordingly, (x)
if, upon the lapse of any such 14 day period, an Unscheduled
Holiday shall have occurred or be continuing on the day
following such period that otherwise would have been a
Business Day, then such day shall be deemed to be an FX
Valuation Date, and (y) if, upon the lapse of any such 14 day
period, a Price Source Disruption shall have occurred or be
continuing on the day following such period, then Valuation
Postponement shall not apply and the FX Rate shall be
determined in accordance with the next Disruption Fallback.
Definitions:
The following definitions shall apply:
"Business Day" means a day (other than a Saturday or a
Sunday) on which commercial banks and foreign exchange
markets settle payments and are open for general business
(including dealings in foreign exchange and foreign currency
deposits) in London, New York and Santiago.
"Calculation Agent" means Citibank, N.A., London Branch,
or its duly appointed successor.
"Calculation Agent Determination of FX Rate" means, in
respect of an FX Valuation Date, the Calculation Agent shall
determine the FX Rate on the relevant FX Valuation Date,
acting in good faith and in a commercially reasonable manner
having taken into account relevant market practice and any
information which it deems relevant.


"Dealer Poll" means, in respect of the FX Valuation Date, the
Calculation Agent shall determine the FX Rate for the relevant
FX Valuation Date by requesting each of the Reference
Dealers to provide a quotation of the USD/CLP spot rate for
such FX Valuation Date no later than 10:30 a.m., Santiago
time, on the first Business Day following such FX Valuation
Date.
(i) If at least two quotations are provided, the FX Rate
will be the arithmetic mean of the quotations
(rounded to the nearest four decimal points, with
0.00005 being rounded up) of the rates so quoted.
Copies of all quotes obtained by the Calculation
Agent will be provided by the Calculation Agent to
the Issuer upon request; or
(ii) if fewer than two quotations are provided, the FX
Rate will be determined by the Calculation Agent
in accordance with the Calculation Agent
Determination of the FX Rate.
The Calculation Agent shall notify the Issuer as soon as
reasonably practicable that the FX Rate is to be so determined.
"Early Redemption Date" means the day on which the Notes
become due and payable in accordance with Condition 9
(Default) subject to postponement in accordance with this
Term 16(vii) whereupon the Early Redemption Date shall be
the date five Business Days following the relevant FX
Valuation Date. For the avoidance of doubt, no additional
interest or other additional amounts shall be payable by IBRD
in the event that the Early Redemption Date is so postponed.
"FX Rate" means, in respect of the relevant FX Valuation
Date, the USD/CLP "observado" exchange rate, expressed as
the amount of CLP per one USD, for settlement in one
Santiago Business Day, reported by the Banco Central de
Chile (Central Bank of Chile) (www.bcentral.cl) as the "Dólar
Observado" rate by not later than 10:30 a.m., Santiago time,
on the first Business Day following such CLP Valuation Date
("CLP DÓLAR OBS" or "CLP10").
If Annex A to the 1998 FX and Currency Option Definitions
published by the International Swaps and Derivatives
Association, Inc., the Emerging Markets Traders Association
and the Foreign Exchange Committee (the "FX Definitions")
is amended such that CLP10 is replaced by a successor price
source for the USD/CLP exchange rate in such Annex A to the
FX Definitions (the "Successor Price Source Definition"),
then the FX Rate for the applicable FX Valuation Date will be
determined in accordance with such Successor Price Source
Definition.
"FX Valuation Date" means, in respect of an Interest
Payment Date, the Early Redemption Date or the Maturity
Date, as applicable, the date that is five Business Days before
such Interest Payment Date, Early Redemption Date or
Maturity Date, as applicable (the "Scheduled FX Valuation
Date"), provided that if the Scheduled FX Valuation Date is


an Unscheduled Holiday, the FX Valuation Date shall be
postponed to the first following Business Day, which is not an
Unscheduled Holiday. In the event the Scheduled FX
Valuation Date is so postponed due to an Unscheduled
Holiday and if the FX Valuation Date has not occurred on or
before the number of calendar days equal to the Maximum
Days of Postponement after the Scheduled FX Valuation Date
(any such period being a "Deferral Period"), then the next
day after the Deferral Period that is a Business Day, or that
would have been a Business Day but for the Unscheduled
Holiday shall be deemed to be the FX Valuation Date.
"Maximum Days of Postponement" means 14 calendar
days.
"Price Source Disruption" means the occurrence or
existence of an event on an FX Valuation Date, the result or
consequence of which is that it is impossible or impracticable,
in the opinion of the Calculation Agent, to obtain the FX Rate
to such day.
"Reference Dealers" means three leading dealers or banks
active in the USD/CLP exchange market selected by the
Calculation Agent in its sole discretion.
"Santiago Business Day" means, a day (other than a Saturday
or a Sunday) on which commercial banks and foreign
exchange markets settle payments and are open for general
business (including dealings in foreign exchange and foreign
currency deposits) in Santiago.
"Unscheduled Holiday" means a day that is not a Santiago
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. (Santiago time), two Santiago Business Days prior to
such day.
"Valuation Postponement" means, in respect of an FX
Valuation Date, if a Price Source Disruption has occurred or
exists in respect of the FX Rate on such FX Valuation Date,
the Calculation Agent shall determine the FX Rate on the next
succeeding Business Day on which, in the opinion of the
Calculation Agent, such Price Source Disruption has not
occurred or ceased to exist, unless the Price Source Disruption
continues to exist (measured from the date that, but for the
occurrence of the Price Source Disruption, or Unscheduled
Holiday would have been the Scheduled FX Valuation Date)
for a consecutive number of calendar days equal to the
Maximum Days of Postponement, in which case the
Calculation Agent shall determine the FX Rate on the next
succeeding Business Day after the Maximum Days of
Postponement (which will be deemed to be the applicable FX
Valuation Date) in accordance with the next applicable
Disruption Fallback.


PROVISIONS RELATING TO REDEMPTION
17.
Final Redemption Amount of each
The Final Redemption Amount per Specified Denomination
Note (Condition 6):
will be payable in USD on the Maturity Date and shall be
determined by the Calculation Agent by applying the
following formula on the FX Valuation Date immediately
prior to the Maturity Date:
Specified Denomination divided by FX Rate (as
defined in Term 16(vii) above),
subject to the Disruption Provisions and Definitions in Term
16(vii) above.
18.
Early Redemption Amount
The Final Redemption Amount per Specified Denomination,
(Condition 6(c)):
as determined in accordance with Term 17 above (provided
that the FX Valuation Date shall be the FX Valuation Date in
respect of the Early Redemption Date) plus accrued and
unpaid interest, if any, as determined in accordance with Term
16 above, provided that for the purposes of such
determination, the relevant Interest Period Dates shall be the
period commencing on, and including, the Interest Payment
Date falling immediately prior to the date upon which the
Notes become due and payable (or, if no interest has yet been
paid, the Issue Date) to, but excluding, the date upon which
the Notes become due and payable.
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 Safekeeping
No
Structure:
21.
Financial Centre(s) or other special
London, New York and Santiago
provisions relating to payment dates
(Condition 7(h)):
22.
Governing law (Condition 14):
English
23.
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.
Because the Notes are denominated in CLP but payable in
USD, the Noteholders will be exposed to currency exchange
rate risks with respect to such currencies. Changes in
exchange rates relating to any of the currencies involved may
result in a decrease in the effective yield of the Notes and, in
certain circumstances, could result in a loss of all or a
substantial portion of the principal of the Notes (including the
Final Redemption Amount). For example, if, on any FX
Valuation Date, CLP has appreciated in value against USD,
the payment in USD will be higher. Conversely, a depreciation
in value of CLP against USD will have the opposite impact.
Furthermore, since the Noteholders will receive payments on
the Notes only on the Interest Payment Dates (including the
Maturity Date), the Noteholders will not benefit from


favorable changes in exchange rates at any other time during
the term of the Notes.




Exchange rate movements for a particular currency are
volatile and are the result of numerous factors. A Noteholder's
net exposure will depend on the extent to which the payment
currency (USD) strengthens or weakens against the
denominated currency (CLP).
In addition, the Noteholders whose financial activities are
denominated principally in a currency (the "Investor's
Currency") other than any of the Specified Currencies, will
also be exposed to currency exchange rate risk that are not
associated with a similar investment in a security denominated
or paid in that Investor's Currency. For more information,
please see "Risk FactorsNotes are subject to exchange rate
and exchange control risks if the investor's currency is
different from the Specified Currency" in the accompanying
Prospectus.
DISTRIBUTION
24.
(i)
If syndicated, names of
Not Applicable
Managers and underwriting
commitments:

(ii)
Stabilizing Manager(s) (if
Not Applicable
any):
25.
If non-syndicated, name of Dealer:
Merrill Lynch International
26.
Total commission and concession:
Not Applicable
27.
Additional selling restrictions:
Not Applicable
28.
UK MiFIR product governance /
Regulation (EU) No 600/2014 as it forms part of domestic
Professional investors and ECPs
law by virtue of the European Union (Withdrawal) Act
target market:
2018 ("UK MiFIR") product governance / Professional
investors and ECPs only 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 only
eligible counterparties (as defined in the United Kingdom
Financial Conduct Authority (the "FCA") Handbook Conduct
of Business Sourcebook ("COBS")) and professional clients
(as defined in UK MiFIR); and (ii) all channels for distribution
of the Notes to eligible counterparties and professional clients
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 28, "manufacturer" means the
Dealer.


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
29.
Legal Entity Identifier of the Issuer:
ZTMSNXROF84AHWJNKQ93
30.
ISIN Code:
XS2471919253
31.
Common Code:
247191925
32.
Delivery:
Delivery versus payment
33.
Registrar and Transfer Agent (if
Citibank, N.A., London Branch
any):
34.
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 September 22, 2021.
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.


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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