Obbligazione IBRD-Global 5.4% ( XS1963430597 ) in BRL

IBRD-Global

100 BRL ⇌

Stati Uniti

XS1963430597 ( in BRL )

5.4% per anno ( pagato 1 volta l'anno)

19/03/2024 - Obbligazione è scaduto

Prospetto opuscolo dell'obbligazione IBRD XS1963430597 in BRL 5.4%, scaduta

10 000 BRL

90 000 000 BRL

La Banca Internazionale per la Ricostruzione e lo Sviluppo (IBRD), parte del Gruppo Banca Mondiale, fornisce prestiti a tassi agevolati a paesi a medio reddito per progetti di sviluppo.

The Obbligazione issued by IBRD-Global ( United States ) , in BRL, with the ISIN code XS1963430597, pays a coupon of 5.4% per year.
The coupons are paid 1 time per year and the Obbligazione maturity is 19/03/2024

Final Terms dated 12 June 2019

International Bank for Reconstruction and Development

Issue of BRL 30,000,000 5.40 per cent. Notes due 19 March 2024
payable in Japanese Yen
(to be consolidated and form a single series with the existing
BRL 10,000,000 5.40 per cent. Notes due 19 March 2024 issued on 18 March 2019,
BRL 12,000,000 5.40 per cent. Notes due 19 March 2024 issued on 26 April 2019,
BRL 13,000,000 5.40 per cent. Notes due 19 March 2024 issued on 22 May 2019, and
BRL 25,000,000 5.40 per cent. Notes due 19 March 2024 issued on 31 May 2019)

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 28 May 2008. This document
constitutes the Final Terms of the Notes described herein and must be read in conjunction with
such Prospectus.
SUMMARY OF THE NOTES
1. Issuer:
International Bank for Reconstruction and
Development ("IBRD")
2. (i) Series
Number:
100703
(ii) Tranche
Number:
5
3. Specified Currency or Currencies
Brazilian Real (the lawful currency of the
(Condition 1(d)):
Federative Republic of Brazil) ("BRL") provided
that all payments in respect of the Notes will be
made in Japanese Yen ("JPY")
4. Aggregate Nominal Amount:

(i) Series:
BRL
90,000,000
(ii) Tranche:
BRL
30,000,000
5. (i) Issue
Price:
100.00 per cent. of the Aggregate Nominal
Amount of this Tranche plus 88 days' accrued
interest

(ii) Net Proceeds:
BRL 30,396,000 (equivalent to JPY 850,355,456
at the exchange rate of JPY 27.9759 per BRL
1.00)
6.
Specified Denominations
BRL 10,000
(Condition 1(b)):
7. (i) Issue Date:
17 June 2019

(ii) Interest Commencement Date
19 March 2019
(Condition 5(l)):
8. Maturity Date (Condition 6(a)):
19 March 2024

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9. Interest Basis (Condition 5):
5.40 per cent. Fixed Rate
(further particulars specified below)
10. Redemption/Payment Basis
Redemption at par payable in JPY
(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:
5.40 per cent. per annum payable semi-annually in
arrear
(ii) Interest Payment Date(s):
19 March and 19 September in each year, from
and including 19 September 2019 to and including
the Maturity Date, not subject to adjustment in
accordance with a Business Day Convention
(iii) Interest Period Date(s):
Each Interest Payment Date
(iv) Business Day Convention:
Not Applicable
(v) Fixed
Coupon
Amount(s):
The Fixed Coupon Amount for the relevant
Interest Period shall be BRL 270 per Specified
Denomination, payable in JPY and determined by
the Calculation Agent by applying the following
formula on the applicable BRL Valuation Date:
BRL 270 multiplied by BRL Rate (as defined in
Term 17 below), on such BRL Valuation Date
provided that, the resultant amount shall be
rounded to the nearest whole JPY (with JPY 0.5
being rounded up).
(vi) Broken Amount(s):
Not Applicable
(vii) Day Count Fraction
30/360
(Condition 5(l)):
(viii) Other terms relating to the method of See Term 17 below
calculating interest for Fixed Rate
Notes:
PROVISIONS RELATING TO REDEMPTION
17. Final Redemption Amount of each Note
The Final Redemption Amount shall be BRL
(Condition 6):
10,000 per Specified Denomination, payable in
JPY and determined by the Calculation Agent by

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applying the following formula on the BRL
Valuation Date immediately prior to the Maturity
Date:
Specified Denomination multiplied by BRL
Rate (as defined below), on such BRL
Valuation Date
provided that, the resultant amount shall be
rounded to the nearest whole JPY (with JPY 0.5
being rounded up).
Where:
"BRL Rate" means, with respect to a BRL
Valuation Date, the BRL/JPY exchange rate,
expressed as the number of JPY per one BRL:
(a) as determined by the Calculation Agent on
such BRL Valuation Date as the inverse number of
the ask side of the JPY/BRL-PTAX Rate (rounded
to the nearest two decimal places (with 0.005
being rounded upwards)); or
(b) in the event that an Exchange Rate
Divergence has occurred on such BRL Valuation
Date, as determined by the Calculation Agent on
such BRL Valuation Date as a cross currency
foreign exchange rate derived by dividing the
USD/JPY Rate by the USD/BRL Rate (rounded to
the nearest two decimal places with 0.005 being
rounded upwards); or
(c) in the event that an Exchange Rate
Divergence has not occurred and the JPY/BRL
PTAX Rate is not available on such BRL
Valuation Date, as determined by the Calculation
Agent on such BRL Valuation Date as a cross
currency foreign exchange rate derived by
dividing the USD/JPY Rate by the USD/BRL
PTAX Rate (rounded to the nearest two decimal
places with 0.005 being rounded upwards),
provided that, if in this instance, the USD/BRL
PTAX Rate is also unavailable then it shall be
replaced by the USD/BRL Rate.
"BRL Valuation Date" means the day that is five
(5) Business Days prior to the relevant Interest
Payment Date or the Maturity Date, as applicable
(the "Scheduled BRL Valuation Date") provided
that a Price Source Disruption has occurred or
exists on the Scheduled BRL Valuation Date, the
BRL Valuation Date will be the next following
Business Day, and provided further that, if the
Price Source Disruption continues to exist on such

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next following Business Day, the BRL Valuation
Date shall be such Business Day. If an
Unscheduled Holiday occurs on a day that would
have been a Scheduled BRL Valuation Date but
for the occurrence of such Unscheduled Holiday,
the BRL Valuation Date will be the next following
Business Day, provided, however, if an
Unscheduled Holiday occurs on any day that
would have been a BRL Valuation Date but for the
occurrence of such Unscheduled Holiday, other
than the Scheduled BRL Valuation Date, such
Unscheduled Holiday shall be the BRL Valuation
Date. If an Unscheduled Holiday occurs between
a BRL Valuation Date and the relevant Interest
Payment Date, the Maturity Date or the date upon
which the Notes become due and payable as
provided in Condition 9, as applicable, such BRL
Valuation Date shall not be subject to any
postponement or adjustment.
"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, São Paulo and
Tokyo.
"Calculation Agent" means Citibank, N.A.,
London Branch or its duly appointed successor.
"EMTA" means EMTA, Inc., the trade
association for the Emerging Markets, or any
successor.
"EMTA BRL Exchange Rate Divergence
Procedures" means the "EMTA BRL Exchange
Rate Divergence Procedures" published by EMTA
on 22 January 2018 (as amended from time to
time).
"Exchange Rate Divergence" means, with
respect to the USD/BRL PTAX Rate, and upon
notice to the EMTA membership, that, in the
reasonable and independent judgment, as notified
to EMTA in accordance with the EMTA BRL
Exchange Rate Divergence Procedures, of not less
than seven (7) unaffiliated EMTA members that
are recognized market makers active in the
USD/BRL foreign exchange market (no less than
four (4) of which shall be active participants in the
onshore USD/BRL spot market), the USD/BRL
PTAX Rate (following a split of the exchange

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rates in Brazil or otherwise) no longer reflects the
then-prevailing USD/BRL spot rate for standard-
size wholesale financial transactions involving the
exchange of BRL for USD delivered outside of
Brazil. For purpose hereof, "unaffiliated EMTA
members" means EMTA members that are not
within the same business group, under common
control, or are not related corporate entities and
"EMTA members" are EMTA members in good
standing at the time of the submission of the
notice.
"JPY/BRL PTAX Rate" means, in respect of a
BRL Valuation Date, the closing JPY/BRL offered
foreign exchange rate, expressed as the number of
BRL per one JPY, 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 pm Sao Paulo time
on such BRL Valuation Date and as published on
Reuters Screen "BRLJPYPTAX=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 "BRLJPYPTAX=CBBR" Page, the closing
JPY/BRL offered foreign exchange rate published
on Banco Central do Brasil's website shall prevail.
"Price Source Disruption" means, as determined
by the Calculation Agent on the relevant BRL
Valuation Date, either:
(a) (i) the JPY/BRL PTAX Rate is not available
as set forth in the definition thereof above, and at
the same time, (ii) either (x) the USD/JPY Rate is
not published on the Bloomberg Screen "BFIX"
page (or its successor page for the purpose of
displaying such rate) as of 4:00 p.m. New York
time on such BRL Valuation Date, or (y) the
USD/BRL PTAX Rate is not available as set forth
in the definition thereof below; or
(b) there is an event of Exchange Rate
Divergence.
"São Paulo 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 São Paulo.

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"Unscheduled Holiday" means a day that is not a
São Paulo 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 (2) São Paulo
Business Days prior to the relevant BRL Valuation
Date.
"USD" means United States Dollars.
"USD/BRL PTAX Rate" means, in respect of a
BRL Valuation Date, the closing USD/BRL
offered foreign exchange 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. Sao Paulo time on such BRL Valuation 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 USD/BRL offered foreign exchange rate
published on Banco Central do Brasil's website
shall prevail.
"USD/BRL Rate" means the spot USD/BRL
foreign exchange rate expressed as the number of
BRL per one USD, determined by the Calculation
Agent for the relevant BRL Valuation Date by
requesting five leading reference banks (selected
by the Calculation Agent at its sole discretion) in
the U.S. interbank market for their mid-market
quotations of the USD/BRL spot exchange rate at
approximately 4:00 p.m. New York time on such
date. The highest and the lowest of such
quotations will be disregarded and the arithmetic
mean (rounded to the nearest four decimal places
with 0.00005 being rounded upwards) of the
remaining three quotations will be the USD/BRL
Rate, provided that, if two or more such
quotations are the highest quotations, then only
one of such highest quotations shall be
disregarded, and if two or more such quotations
are the lowest quotations then only one of such
lowest quotations shall be disregarded.
Provided that, if only four quotations are so

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provided, then the USD/BRL Rate shall be the
arithmetic mean (rounded to the nearest four
decimal places with 0.00005 being rounded
upwards) of such quotations without regard to the
highest and lowest values quoted, and provided
further that, if two or more such quotations are the
highest quotations, then only one of such highest
quotations shall be disregarded, and if two or
more such quotations are the lowest quotations
then only one of such lowest quotations shall be
disregarded.
If fewer than four quotations but at least two
quotations can be obtained, then the USD/BRL
Rate shall be the arithmetic mean (rounded to the
nearest four decimal places with 0.00005 being
rounded upwards) of the quotations actually
obtained by the Calculation Agent.
If only one quotation is available, the Calculation
Agent may determine that such quotation shall be
the USD/BRL Rate, and if no such quotation is
available or if the Calculation Agent determines in
its sole discretion that no suitable reference bank
who is prepared to quote is available, the
USD/BRL Rate shall be determined by the
Calculation Agent acting in good faith and in a
commercially reasonable manner, having taken
into account relevant market practice.
Provided further that, if the BRL Valuation Date
falls on an Unscheduled Holiday, the USD/BRL
Rate will be determined by the Calculation Agent
on such BRL Valuation Date, acting in good faith
and in a commercially reasonable manner, having
taken into account relevant market practice.
"USD/JPY Rate" means the bid side of USD/JPY
foreign exchange rate, expressed as the amount of
JPY per one USD, published on the Bloomberg
Screen "BFIX" page (or its successor page for the
purpose of displaying such rate) as of 4:00 p.m.
New York time on the relevant BRL Valuation
Date.
If USD/JPY Rate is not available on the relevant
BRL Valuation Date, the Calculation Agent will
request five leading reference banks (selected by
the Calculation Agent at its sole discretion) in the
U.S. interbank market for their mid-market
quotations of the USD/JPY spot exchange rate at
approximately 4:00 p.m. New York time on such
date. The highest and the lowest of such

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quotations will be disregarded and the arithmetic
mean (rounded to the nearest two decimal places
with 0.005 being rounded upwards) of the
remaining three quotations will be USD/JPY Rate,
provided that, if two or more such quotations are
the highest quotations, then only one of such
highest quotations shall be disregarded, and if two
or more such quotations are the lowest quotations
then only one of such lowest quotations shall be
disregarded.
Provided that, if only four quotations are so
provided, then USD/JPY Rate shall be the
arithmetic mean (rounded to the nearest two
decimal places with 0.005 being rounded
upwards) of such quotations without regard to the
highest and lowest values quoted, provided that, if
two or more such quotations are the highest
quotations, then only one of such highest
quotations shall be disregarded, and if two or
more such quotations are the lowest quotations
then only one of such lowest quotations shall be
disregarded.
If fewer than four quotations but at least two
quotations can be obtained then USD/JPY Rate
shall be the arithmetic mean (rounded to the
nearest two decimal places with 0.005 being
rounded upwards) of the quotations actually
obtained by the Calculation Agent.
If only one quotation is available, in that event,
the Calculation Agent may determine that such
quotation shall be USD/JPY Rate, and if no such
quotation is available or if the Calculation Agent
determines in its sole discretion that no suitable
reference bank who is prepared to quote is
available, USD/JPY Rate shall be determined by
the Calculation Agent acting in good faith and in a
commercially reasonable manner, having taken
into account relevant market practice.
18. Early Redemption Amount
The Final Redemption Amount per Specified
(Condition 6(c)):
Denomination as determined in accordance with
Term 17 above plus accrued and unpaid interest, if

any, as determined in accordance with Term 16
above, save that the BRL Rate shall be determined
on the day that is five (5) Business Days prior to
the day on which the Early Redemption Amount
shall be due and payable (an "Early Redemption
BRL Valuation Date") and all the references to
"BRL Valuation Date" shall be deemed to be
replaced by "Early Redemption BRL Valuation

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Date".
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:
No
21. Financial Centre(s) or other special
London, New York, São Paulo and Tokyo
provisions relating to payment dates
(Condition 7(h)):
22. Governing Law (Condition 14):
English
23. Other final terms:
The first sentence of Condition 7(a)(ii) is hereby
replaced by the following: Interest (which for the
purposes of this Condition 7(a) shall include all
Instalment Amounts other than the final
Instalment Amounts) on Registered Notes shall be
paid to the person shown in the Register at the
close of business on the calendar day before the
due date for the payment thereof (the "Record
Date").
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.
Because the Notes are denominated in BRL but
payable in JPY, 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
BRL Valuation Date, BRL has appreciated in
value against JPY, the payment in JPY will be
higher. Conversely, a depreciation in value of
BRL against JPY 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

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will depend on the extent to which the payment
currency (JPY) strengthens or weakens against the
denominated currency (BRL).
DISTRIBUTION
25. (i) If syndicated, names of Managers and Not Applicable
underwriting commitments:
(ii) Stabilizing Manager(s) (if any):
Not Applicable
26. If non-syndicated, name of Dealer:
Barclays Bank PLC
27. Total commission and concession:
Not Applicable
28. Additional selling restrictions:
Brazil:
The Notes may not be offered or sold to the public
in Brazil and accordingly, the offering of the
Notes has not been submitted to the Brazilian
Securities and Exchange Commission (Commisáo
de Valores Mobilários, the CVM) for approval.
Documents relating to an offering of the Notes
may not be supplied or distributed to the public in
Brazil nor be used in connection with any offer for
subscription or sale of the Notes to the public in
Brazil.
OPERATIONAL INFORMATION

29. ISIN Code:
XS1963430597
30. Common Code:
196343059
31. Delivery:
Delivery against payment
32. Registrar and Transfer Agent (if any):
Citibank, N.A., London Branch
33. Intended to be held in a manner which No
would allow Eurosystem eligibility:

GENERAL INFORMATION
IBRD's most recent Information Statement was issued on 17 September 2018.

USE OF PROCEEDS

Supporting sustainable development in IBRD's member countries

The net proceeds from the sale of the Notes will be used by IBRD to finance sustainable
development projects and programs in IBRD's member countries (without being committed or
earmarked for lending to, or financing of, any particular projects or programs). IBRD's financing
is made available solely to middle-income and creditworthy lower-income member countries who
are working in partnership with IBRD to eliminate extreme poverty and boost shared prosperity,
so that they can achieve equitable and sustainable economic growth in their national economies
and find sustainable solutions to pressing regional and global economic and environmental
problems. Projects and programs supported by IBRD are designed to achieve a positive social

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