Obbligazione Interamerican Development Bank 0.875% ( US4581X0DL95 ) in USD

Emittente Interamerican Development Bank
Prezzo di mercato 97.57 USD  ▼ 
Paese  Stati Uniti
Codice isin  US4581X0DL95 ( in USD )
Tasso d'interesse 0.875% per anno ( pagato 2 volte l'anno)
Scadenza 02/04/2025 - Obbligazione è scaduto



Prospetto opuscolo dell'obbligazione Inter-American Development Bank (IDB) US4581X0DL95 in USD 0.875%, scaduta


Importo minimo /
Importo totale /
Cusip 4581X0DL9
Descrizione dettagliata La Banca Interamericana di Sviluppo (BID) è un'istituzione finanziaria internazionale che fornisce prestiti e assistenza tecnica ai paesi dell'America Latina e dei Caraibi per promuovere lo sviluppo economico e sociale.

The Obbligazione issued by Interamerican Development Bank ( United States ) , in USD, with the ISIN code US4581X0DL95, pays a coupon of 0.875% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 02/04/2025







EXECUTION VERSION






PRICING SUPPLEMENT
Inter-American Development Bank
Global Debt Program
Series No.: 746

U.S.$2,000,000,000 0.875 percent Notes due April 3, 2025
Issue Price: 99.951 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
Regulated Market

Crédit Agricole CIB
Deutsche Bank
Goldman Sachs International
J.P. Morgan



The date of this Pricing Supplement is April 1, 2020.
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 746
U.S.$2,000,000,000 0.875 percent Notes due April 3, 2025
DC_LAN01:383003.2


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 January 8, 2001 (the
"Prospectus") (which for the avoidance of doubt does not constitute a prospectus for the
purposes of Part VI of the United Kingdom Financial Services and Markets Act 2000 or a base
prospectus for the purposes of Regulation (EU) 2017/1129). 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.
MiFID II product governance / Retail investors, professional investors and ECPs target
market ­ See "General Information--Additional Information Regarding the Notes--Matters
relating to MiFID II" 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. These are the only terms which form
part of the form of Notes for such issue. The master fiscal agency agreement, dated as of
December 7, 1962, as amended and supplemented from time to time, between the Bank and the
Federal Reserve Bank of New York, as fiscal and paying agent, has been superseded by the
Uniform Fiscal Agency Agreement, dated as of July 20, 2006 (the "New Fiscal Agency
Agreement"), as may be amended, restated, superseded or otherwise modified from time to
time, between the Bank and the Federal Reserve Bank of New York, as fiscal and paying
agent. All references to the "Fiscal Agency Agreement" under the heading "Terms and
Conditions of the Notes" and elsewhere in the Prospectus shall be deemed references to the
New Fiscal Agency Agreement.
1.
Series No.:
746
2.
Aggregate Principal Amount:
U.S.$2,000,000,000
3.
Issue Price:
U.S.$1,999,020,000 which is 99.951 percent of
the Aggregate Principal Amount
4.
Issue Date:
April 3, 2020
5.
Form of Notes

(Condition 1(a)):
Book-entry only (not exchangeable for Definitive
Fed Registered Notes, Conditions 1(a) and 2(b)
notwithstanding)
6.
Authorized Denomination(s)

(Condition 1(b)):
U.S.$1,000 and integral multiples thereof
2
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 746
U.S.$2,000,000,000 0.875 percent Notes due April 3, 2025
DC_LAN01:383003.2


7.
Specified Currency

(Condition 1(d)):
United States Dollars (U.S.$) being the lawful
currency of the United States of America
8.
Specified Principal Payment

Currency

(Conditions 1(d) and 7(h)):
U.S.$
9.
Specified Interest Payment Currency
(Conditions 1(d) and 7(h)):
U.S.$
10. Maturity Date

(Condition 6(a); Fixed Interest
April 3, 2025
Rate):
11. Interest Basis

(Condition 5):
Fixed Interest Rate (Condition 5(I))
12. Interest Commencement Date

(Condition 5(III)):
Issue Date (April 3, 2020)
13. Fixed Interest Rate (Condition 5(I)):

(a)
Interest Rate:
0.875 percent per annum

(b)
Fixed Rate Interest Payment

Date(s):
Semi-annually in arrear on April 3 and October 3
in each year, commencing on October 3, 2020.

Each Interest Payment Date is subject to
adjustment in accordance with the Following
Business Day Convention with no adjustment to
the amount of interest otherwise calculated.


(c)
Fixed Rate Day Count

Fraction(s):
30/360
14. Relevant Financial Center:
New York
15. Relevant Business Days:
New York
16. Issuer's Optional Redemption

(Condition 6(e)):
No
17. Redemption at the Option of the

Noteholders (Condition 6(f)):
No
3
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 746
U.S.$2,000,000,000 0.875 percent Notes due April 3, 2025
DC_LAN01:383003.2


18. Governing Law:
New York
19. Selling Restrictions:

(a)
United States:
Under the provisions of Section 11(a) of the Inter-
American Development Bank Act, the Notes are

exempted securities within the meaning of
Section 3(a)(2) of the U.S. Securities Act of 1933,
as amended, and Section 3(a)(12) of the U.S.
Securities Exchange Act of 1934, as amended.

(b)
United Kingdom:
Each of the Managers represents and agrees that it
has complied and will comply with all applicable
provisions of the Financial Services and Markets
Act 2000 with respect to anything done by it in
relation to such Notes in, from or otherwise
involving the United Kingdom.

(c)
General:
No action has been or will be taken by the Issuer
that would permit a public offering of the Notes,
or possession or distribution of any offering
material relating to the Notes in any jurisdiction
where action for that purpose is required.
Accordingly, each of the Managers agrees that it
will observe all applicable provisions of law in
each jurisdiction in or from which it may offer or
sell Notes or distribute any offering material.
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 Regulated Market

2.
Details of Clearance System
Approved by the Bank and the

Global Agent and Clearance and
Settlement Procedures:
Federal Reserve Bank of New York; Euroclear
Bank SA/NV; Clearstream Banking S.A.
3.
Syndicated:
Yes
4.
If Syndicated:


(a)
Liability:
Several and not joint
4
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 746
U.S.$2,000,000,000 0.875 percent Notes due April 3, 2025
DC_LAN01:383003.2



(b)
Joint Lead Managers:
Crédit Agricole
Corporate and Investment Bank
Deutsche Bank AG, London Branch
Goldman Sachs International
J.P. Morgan Securities plc

5.
Commissions and Concessions:
0.125 percent of the Aggregate Principal Amount
6.
Estimated Total Expenses:
None. The Joint Lead Managers have agreed to
pay for certain expenses related to the issuance of
the Notes.
7.
Codes:


(a)
Common Code:
215234061

(b)
ISIN:
US4581X0DL95

(c)
CUSIP:
4581X0DL9
8.
Identity of Joint Lead Managers:
Crédit Agricole
Corporate and Investment Bank
Deutsche Bank AG, London Branch
Goldman Sachs International
J.P. Morgan Securities plc

General Information
Additional Information Regarding the Notes
1.
The language set out under the heading "Use of Proceeds" in the Prospectus shall be
deleted in its entirety and replaced by the following:
"The net proceeds from the sale of the Notes will be included in the ordinary capital
resources of the Bank and, will not be committed or earmarked for lending to, or financing of,
any specific loans, projects or programs. The Bank, in partnership with its member countries,
works to reduce poverty and inequalities in Latin America and the Caribbean by promoting
economic and social development in a sustainable, climate friendly way.
The Bank's strategic priorities include social inclusion and equality, productivity and
innovation and economic integration along with three cross-cutting issues: gender equality and
diversity, climate change and environmental sustainability, and institutional capacity and the
rule of law. Each strategic priority of the Bank aligns to at least one of the United Nations
Sustainable Development Goals ("SDGs"), with all goals covered within the Bank's
institutional strategy, which may be adapted from time to time should the United Nations
SDGs definition evolve.
5
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 746
U.S.$2,000,000,000 0.875 percent Notes due April 3, 2025
DC_LAN01:383003.2


All projects undertaken by the Bank go through the Bank's rigorous sustainability
framework. The framework tracks measurable results, adherence to lending targets and the
effectiveness of its environmental and social safeguards. The Bank's administrative and
operating expenses are currently covered entirely by the Bank's various sources of revenue,
consisting primarily of net interest margin and investment income (as more fully described in
the Bank's Information Statement)."
2.
Matters relating to MiFID II
The Bank does not fall under the scope of application of the MiFID II regime.
Consequently, the Bank does not qualify as an "investment firm", "manufacturer" or
"distributor" for the purposes of MiFID II.
MiFID II product governance / Retail investors, professional investors and ECPs
target market ­ Solely for the purposes of the manufacturers' 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, professional clients and retail clients, each as
defined in MiFID II; and (ii) all channels for distribution of the Notes are appropriate. Any
person subsequently offering, selling or recommending the Notes (a "distributor") should take
into consideration the manufacturers' 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 manufacturers' target market assessment) and
determining appropriate distribution channels.
For the purposes of this provision, the expression MiFID II means Directive
2014/65/EU, as amended.
3.
United States Federal Income Tax Matters
The following supplements the discussion under the "Tax Matters" section of the
Prospectus regarding the United States federal income tax treatment of the Notes, and is
subject to the limitations and exceptions set forth therein. Any tax disclosure in the Prospectus
or this pricing supplement is of a general nature only, is not exhaustive of all possible tax
considerations and is not intended to be, and should not be construed to be, legal, business or
tax advice to any particular prospective investor. Each prospective investor should consult its
own tax advisor as to the particular tax consequences to it of the acquisition, ownership, and
disposition of the Notes, including the effects of applicable United States federal, state, and
local tax laws, non-U.S. tax laws and possible changes in tax laws.
Upon a sale or retirement of the Notes, a United States holder will generally recognize
capital gain or loss equal to the difference, if any, between (i) the amount realized on the sale
or retirement (other than amounts attributable to accrued but unpaid interest, which would be
treated as such) and (ii) the United States holder's adjusted tax basis in the Notes. A United
States holder's adjusted tax basis in the Notes generally will equal the cost of the Notes to the
United States holder. Capital gain of individual taxpayers from the sale or retirement of Notes
held for more than one year may be eligible for reduced rates of taxation. The deductibility of
a capital loss is subject to significant limitations.
6
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 746
U.S.$2,000,000,000 0.875 percent Notes due April 3, 2025
DC_LAN01:383003.2


Due to a change in law since the date of the Prospectus, the second paragraph of "--
Payments of Interest" under the "United States Holders" section should be updated to read as
follows: "Interest paid by the Bank on the Notes constitutes income from sources outside the
United States and will generally be "passive" income for purposes of computing the foreign tax
credit."
Information with Respect to Foreign Financial Assets. Owners of "specified foreign
financial assets" with an aggregate value in excess of U.S.$50,000 (and in some circumstances,
a higher threshold) may be required to file an information report with respect to such assets
with their tax returns. "Specified foreign financial assets" may include financial accounts
maintained by foreign financial institutions, as well as the following, but only if they are held
for investment and not held in accounts maintained by financial institutions: (i) stocks and
securities issued by non-United States persons, (ii) financial instruments and contracts that
have non-United States issuers or counterparties, and (iii) interests in foreign entities. Holders
are urged to consult their tax advisors regarding the application of this reporting requirement to
their ownership of the Notes.
Medicare Tax. A United States holder that is an individual or estate, or a trust that does
not fall into a special class of trusts that is exempt from such tax, is subject to a 3.8% tax (the
"Medicare tax") on the lesser of (1) the United States holder's "net investment income" (or
"undistributed net investment income" in the case of an estate or trust) for the relevant taxable
year and (2) the excess of the United States holder's modified adjusted gross income for the
taxable year over a certain threshold (which in the case of individuals is between U.S.$125,000
and U.S.$250,000, depending on the individual's circumstances). A holder's net investment
income will generally include its interest income and its net gains from the disposition of Notes,
unless such interest income or net gains are derived in the ordinary course of the conduct of a
trade or business (other than a trade or business that consists of certain passive or trading
activities). United States holders that are individuals, estates or trusts are urged to consult their
tax advisors regarding the applicability of the Medicare tax to their income and gains in respect
of their investment in the Notes.
7
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No.: 746
U.S.$2,000,000,000 0.875 percent Notes due April 3, 2025
DC_LAN01:383003.2