Obbligazione Interamerican Development Bank 3.5% ( XS2312394138 ) in COP

Emittente Interamerican Development Bank
Prezzo di mercato refresh price now   100 COP  ⇌ 
Paese  Stati Uniti
Codice isin  XS2312394138 ( in COP )
Tasso d'interesse 3.5% per anno ( pagato 1 volta l'anno)
Scadenza 17/03/2026



Prospetto opuscolo dell'obbligazione Inter-American Development Bank (IDB) XS2312394138 en COP 3.5%, scadenza 17/03/2026


Importo minimo 10 000 000 COP
Importo totale 50 000 000 000 COP
Coupon successivo 17/03/2026 ( In 35 giorni )
Descrizione dettagliata La Banca Interamericana di Sviluppo (BID) č 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 COP, with the ISIN code XS2312394138, pays a coupon of 3.5% per year.
The coupons are paid 1 time per year and the Obbligazione maturity is 17/03/2026







EXECUTION VERSION




PRICING SUPPLEMENT
Inter-American Development Bank
Global Debt Program
Series No: 786


COP 50,000,000,000 3.50 percent Notes due March 17, 2026 (the "Notes")
Payable in United States Dollars


Issue Price: 97.774 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




J.P. Morgan




The date of this Pricing Supplement is March 12, 2021
PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No: 786
COP 50,000,000,000 3.50 percent Notes due March 17, 2026

4839-4031-8943 v.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 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.:
786
2.
Aggregate Principal Amount:
COP 50,000,000,000
3.
Issue Price:
COP 48,887,000,000, which is 97.774
percent of the Aggregate Principal Amount
The Issue Price will be payable in USD in
the amount of USD 13,287,905.06 at the
agreed rate of COP 3,679.06 per one USD.
4.
Issue Date:
March 17, 2021
5.
Form of Notes
Registered only
(Condition 1(a)):
6.
New Global Note:
No
7.
Authorized Denomination(s)
COP 10,000,000
(Condition 1(b)):
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PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No: 786
COP 50,000,000,000 3.50 percent Notes due March 17, 2026

4839-4031-8943 v.2


8.
Specified Currency
Colombian Peso ("COP"), the lawful
(Condition 1(d)):
currency of the Republic of Colombia,
provided that all payments in respect of the
Notes will be made in United States Dollars
("USD")
9.
Specified Principal Payment
USD
Currency
(Conditions 1(d) and 7(h)):
10. Specified Interest Payment Currency
USD
(Conditions 1(d) and 7(h)):
11. Maturity Date
March 17, 2026
(Condition 6(a); Fixed Interest Rate
and Zero Coupon):
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
Fixed Interest Rate (Condition 5(I))
(Condition 5):
13. Interest Commencement Date
Issue Date (March 17, 2021)
(Condition 5(III)):
14. Fixed Interest Rate (Condition 5(I)):


(a) Interest Rate:
3.50 percent per annum

(b) Fixed Rate Interest Payment Annually on March 17 in each year,
Date(s):
commencing on March 17, 2022 and ending
on the Maturity Date.

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
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PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No: 786
COP 50,000,000,000 3.50 percent Notes due March 17, 2026

4839-4031-8943 v.2


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 any
Interest Period shall be a USD amount
calculated using the Reference Rate
determined as of the relevant Rate Fixing
Date (as defined below) as follows:
COP 350,000 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).

"Bogotį Business Day" means a day (other
than a Saturday or a Sunday) on which
banks and foreign exchange markets are
open for business in Bogotį.

"`COP TRM' (COP02) Rate" means, in
respect of a Rate Fixing Date, the COP/USD
fixing rate for USD, expressed as the amount
of COP per one USD, for settlement on the
4

PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No: 786
COP 50,000,000,000 3.50 percent Notes due March 17, 2026

4839-4031-8943 v.2


same day reported by the Colombian
Financial Superintendency
(www.banrep.gov.co) as the "Tasa
Representativa del Mercado (TRM)" (also
referred to as the "Tasa de Cambio
Representativa del Mercado" (TCRM)) as
published on the Reuters Screen CO/COL03
Page opposite the caption "TCRM" below
the heading "Hoy" at approximately 12:00
noon, Bogotį time, on the first Bogotį
Business Day following the relevant Rate
Fixing Date (or such other page or service as
may replace such page for the purposes of
displaying such "COP TRM" (COP02)
Rate); provided that the "COP TRM"
(COP02) Rate found on the website of the
Colombian Financial Superintendency shall
prevail in case of conflict with the rate
appearing on Reuters Screen CO/COL03
Page. If the Reuters Screen CO/COL03
Page no longer reports such rate or is no
longer available and has not been replaced
by any other page or service, the Calculation
Agent shall be entitled to obtain such rate as
reported by the Colombian Financial
Superintendency from any other screen or
information source that it deems appropriate
in good faith and in a commercially
reasonable manner.
"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
Fixing Date:
(a) the COP/USD exchange rate,
expressed as the amount of COP per
one USD determined by the
Calculation Agent on the first Bogotį
Business Day following the relevant
Rate Fixing Date by reference to the
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PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No: 786
COP 50,000,000,000 3.50 percent Notes due March 17, 2026

4839-4031-8943 v.2


applicable "COP TRM" (COP02)
Rate; or
(b) in the event that the "COP TRM"
(COP02) Rate is not available on the
first Bogotį Business Day following
the relevant Rate Fixing Date, the
Calculation Agent shall determine
that a "Price Source Disruption" has
occurred, and shall promptly inform
the Bank 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
(other than a Saturday or a Sunday) on
which banks and foreign exchange markets
are open for business in London, New York
and Bogotį.
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.
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PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No: 786
COP 50,000,000,000 3.50 percent Notes due March 17, 2026

4839-4031-8943 v.2


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 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).
"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
Bogotį two Valuation Business Days prior
to the relevant Rate Fixing Date.
7

PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No: 786
COP 50,000,000,000 3.50 percent Notes due March 17, 2026

4839-4031-8943 v.2



(c) Business Day Convention:
Following Business Day Convention

(d) Fixed Rate Day Count
Actual/Actual (ICMA)
Fraction(s):

(e) Calculation Agent:
JPMorgan Chase Bank, N.A.
15. Relevant Financial Center:
Bogotį, London and New York
16. Relevant Business Days:
Bogotį, London and New York
17. Redemption Amount (Condition
The Redemption Amount with respect to
6(a)):
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

(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
No
(Condition 6(e)):
19. Redemption at the Option of the
No
Noteholders (Condition 6(f)):
20. Early Redemption Amount
In the event the Notes become due and
(including accrued interest, if
payable as provided in Condition 9 (Default),
applicable) (Condition 9):
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
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PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No: 786
COP 50,000,000,000 3.50 percent Notes due March 17, 2026

4839-4031-8943 v.2


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.
2.
Details of Clearance System
Euroclear Bank SA/NV and/or Clearstream
Approved by the Bank and the
Banking S.A.
Global Agent and Clearance and
Settlement Procedures:
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, if
applicable.
6.
Codes:


(a) Common Code:
231239413
9

PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No: 786
COP 50,000,000,000 3.50 percent Notes due March 17, 2026

4839-4031-8943 v.2



(b) ISIN:
XS2312394138
7.
Identity of Dealer:
J.P. Morgan Securities plc

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
Not Applicable
which would allow Eurosystem
eligibility:
10. 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.
The Dealer acknowledges that one or more
tranches of Notes of this series may be
originally issued at an issue price that
constitutes original issue discount (OID) in
excess of "de minimis" OID within the
meaning of applicable United States tax
regulations, and that the Bank does not intend
for any Notes of this series to be distributed
in the United States or to come into the hands
of U.S. persons. Accordingly, the Dealer
agrees not to offer or sell any Notes of this
series in the United States or to U.S. persons.
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PRICING SUPPLEMENT
Inter-American Development Bank Global Debt Program Series No: 786
COP 50,000,000,000 3.50 percent Notes due March 17, 2026

4839-4031-8943 v.2


Document Outline