Obligation IBRD-Global 9.2% ( XS0578235698 ) en GHS

IBRD-Global

100 % ▲

Etats-unis

XS0578235698 ( en GHS )

9.2% par an ( paiement annuel )

12/12/2013 - Obligation échue

Prospectus brochure de l'obligation IBRD XS0578235698 en GHS 9.2%, échue

20 000 000 000 GHS

La Banque internationale pour la reconstruction et le développement (IBRD), membre du Groupe de la Banque mondiale, fournit des prêts et des services consultatifs aux pays à revenu intermédiaire et à revenu faible pour soutenir leur développement économique.

L'Obligation émise par IBRD-Global ( Etats-unis ) , en GHS, avec le code ISIN XS0578235698, paye un coupon de 9.2% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 12/12/2013

Final Terms dated 18 January 2011

International Bank for Reconstruction and Development

Issue of

GHS 29,200,000 9.20 per cent. GHS/USD FX Linked Notes due December 2013
(payable in USD)

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 May 28, 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:
10563
(ii) Tranche Number:
1
3. Specified Currency or Currencies (Condition
Ghanaian Cedi ("GHS") provided that all
1(d)):
payments in respect of the Notes will be made in
United States Dollars ("USD")
4. Aggregate Nominal Amount:

(i) Series:
GHS 29,200,000
(ii) Tranche:
GHS 29,200,000
5. (i) Issue Price:
100 per cent. of the Aggregate Nominal Amount
(ii) Net proceeds:
USD 19,729,729.73 (equivalent to the Issue
Price of GHS 29,200,000 converted into USD at
the initial exchange rate of GHS 1.48 per USD
1.00)
6. Specified Denominations (Condition 5(j)):
GHS 200,000
7. Issue Date:
21 January 2011
8. Maturity Date (Condition 6(a)):
12 December 2013 (the "Scheduled Maturity
Date"), as may be postponed subject to the
Disruption Provisions set out in Annex A
9. Interest Basis (Condition 5):
9.20 per cent. Fixed Rate
(further particulars specified below)
10. Redemption/Payment Basis (Condition 6):
GHS/USD FX linked redemption based on 100
per cent. redemption as set out in Term 17
11. Change of Interest or Redemption/Payment
Not Applicable
Basis:
12. Call/Put Options (Condition 6):
None
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. Fixed Rate Note Provisions (Condition 5(a)):
Applicable
(i) Rate of Interest:
9.20 per cent. per annum payable annually in
arrear

(ii) Interest Payment Date(s):
12 December in each year, subject to
postponement as provided in paragraph 1 of
Annex A, with no additional interest amount or
other amount payable in relation to such
postponement
(iii) Fixed Coupon Amount (s):
GHS 18,450.41 per Specified Denomination will
be payable in USD on the Interest Payment Date
falling in December 2012 and calculated by the
Calculation Agent as follows:
GHS 18,450.41 divided by the applicable
GHS/USD Exchange Rate (as defined in Annex
A)
GHS 18,400 per Specified Denomination will be
payable in USD on the Interest Payment Date
falling in December 2013 and calculated by the
Calculation Agent as follows:
GHS 18,400 divided by the applicable
GHS/USD Exchange Rate (as defined in Annex
A)
(iv) Broken Amount(s):
GHS 16,383.56 per Specified Denomination will
be payable in USD on the Interest Payment Date
falling in December 2011 and calculated by the
Calculation Agent as follows:
GHS 16,383.56 divided by the applicable
GHS/USD Exchange Rate (as defined in Annex
A)

(v) Day Count Fraction (Condition 5(l)):
Actual / 365 (Fixed)
(vi) Other terms relating to the method of
Not Applicable
calculating interest for Fixed Rate Notes:
PROVISIONS RELATING TO REDEMPTION
17. Final Redemption Amount of each Note
GHS 200,000 per Specified Denomination
(Condition 6):

In cases where the Final Redemption Amount

is Index Linked or other variable-linked:

(i) Index/Formula/variable:
The Final Redemption Amount per Specified
Denomination will be payable in USD and
calculated by the Calculation Agent on the
relevant Rate Fixing Date as follows:
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Specified Denomination divided by the
GHS/USD Exchange Rate (as defined below in
Annex A)

(ii) Party responsible for calculating the
Barclays Bank PLC
Final Redemption Amount (if not the
Calculation Agent):

(iii) Provisions for determining Final
See Annex A
Redemption Amount where calculation
by reference to Index and/or Formula
and/or other variable is impossible or
impracticable or otherwise disrupted:

(iv) Payment Date:
The Maturity Date subject to postponement in
accordance with Annex A with no additional
amounts payable in relation to such
postponement
18. Early Redemption Amount (Condition 6(c)):
The Final Redemption Amount payable in USD
as determined in accordance with Term 17 above
(plus accrued interest to, but excluding, the date
of early redemption)
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 provisions
Accra, London and New York
relating to payment dates (Condition 7(h)):
22. Governing law (Condition 14):
English
23. Other final terms:
Not Applicable
DISTRIBUTION
24. (i) If syndicated, names of Managers and
Not Applicable
underwriting commitments:
(ii) Stabilizing Manager(s) (if any):
Not Applicable
25. If non-syndicated, name of Dealer:
Barclays Bank PLC
5 The North Colonnade
Canary Wharf
London E14 4BB
Attention: MTN Desk
26. Total commission and concession:
Not Applicable
27. Additional selling restrictions:
Republic of Ghana
The Dealer represents and agrees that the Notes
shall not be offered by the Dealer for circulation,
distribution, placement, sale, purchase or other
transfer in the territory of the Republic of
Ghana. Accordingly, nothing in this document or
any
other
documents,
information
or
communications related to the Notes shall be
interpreted as containing any offer or invitation
to, or solicitation of, any such circulation,
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distribution, placement, sale, purchase or other
transfer in the territory of the Republic of
Ghana.
OPERATIONAL INFORMATION

28. ISIN Code:
XS0578235698
29. Common Code:
057823569
30. Any clearing system(s) other than Euroclear
Not Applicable
Bank S.A./N.V., Clearstream Banking, société
anonyme and The Depository Trust Company
and the relevant identification number(s):
31. Delivery:
Delivery against payment
32. Registrar and Transfer Agent (if any):
Citibank N.A., London Branch
33. Additional Paying Agent(s) (if any):
None
34. Intended to be held in a manner which would
No
allow Eurosystem eligibility:
GENERAL INFORMATION

IBRD's most recent Information Statement was issued on 22 September 2010.
CONFLICT OF INTEREST
Barclays Bank PLC, acting through its investment banking division Barclays Capital ("Barclays
Bank PLC") will be calculation agent under the Notes and will also be IBRD's counterparty in a
related swap transaction entered into by IBRD in order to hedge its obligations under the Notes.
The existence of such multiple roles and responsibilities for Barclays Bank PLC creates possible
conflicts of interest. For example, the amounts payable by Barclays Bank PLC to IBRD under the
related swap transaction are expected, as of the Issue Date, to be calculated on the same basis as
the amounts payable by IBRD under the Notes. As a result, the determinations made by Barclays
Bank PLC in its discretion as Calculation Agent for the Notes may affect the amounts payable by
Barclays Bank PLC under the related swap transaction, and, in making such determinations,
Barclays Bank PLC may have economic interests adverse to those of the Noteholders. The
Noteholder understands that although IBRD will enter into the related swap transaction with
Barclays Bank PLC as swap counterparty in order to hedge its obligations under the Notes,
IBRD's rights and obligations under the related swap transaction will be independent of its rights
and obligations under the Notes, and Noteholders will have no interest in the related swap
transaction or any payment to which IBRD may be entitled thereunder.
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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ANNEX A

1.
Disruption Provisions

(a)
In the event the Scheduled Rate Fixing Date (as defined below in paragraph 2) becomes
subject to the Following Business Day Convention (in accordance with paragraph 2) upon
the occurrence of an Unscheduled Holiday or a Disruption Event, and the Rate Fixing
Date has not occurred on or before the 14th calendar day after the Scheduled Rate Fixing
Date (any such period being a "Deferral Period") then:

(i)
The next day after the Deferral Period that would have been a Business Day but
for the Unscheduled Holiday, or the next day after the Deferral Period that is a
Business Day in the event of a continuing Disruption Event, shall be deemed to
be the Rate Fixing Date (the "Postponed Rate Fixing Date");

(ii)
The relevant Scheduled Interest Payment Date or Scheduled Maturity Date or
Early Redemption Payment Date, as applicable, shall be postponed by one day
for each day that the Scheduled Rate Fixing Date is postponed as set forth above;

(iii)
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 or
Maturity Date or Early Redemption Payment Date, as applicable, is postponed in
accordance with this Annex.

(b)
The Calculation Agent shall give notice, in accordance with Condition 12, to the Paying
Agent, the Issuer and the Clearing Systems of:

(i)
the occurrence of such postponement; and

(ii)
the Postponed Rate Fixing Date;

in each case, as soon as reasonably practicable thereafter.

2.
Definitions

"Business Day" means a day (other than a Saturday or Sunday) on which the banks and foreign
exchange markets are open for general business (including dealings in foreign exchange and
foreign currency deposits) in Accra, London and New York.

"Clearing Systems" means Euroclear Bank S.A./N.V., Clearstream Banking, société anonyme
and any successor or alternative clearing system(s) as may be appointed by the Issuer from time to
time in relation to Bonds.

"Deferral Period" has the meaning given to it in paragraph 1 above.

"Disruption Event" means either or both of an Inconvertibility Event or a Market Disruption
Event.

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"Early Redemption Payment Date" means, in relation to redemption of a Note pursuant to
Condition 9, the day on which the Note becomes due and payable in accordance with the terms of
such Condition 9.

"Inconvertibility Event" means in the sole and absolute determination of the Calculation Agent
any action, event or circumstance whatsoever which from a legal or practical perspective:

(i)
has the direct or indirect effect of hindering, limiting or restricting the
convertibility of GHS into USD through customary legal channels, or the transfer
of GHS from the Republic of Ghana ("Ghana") to any other country (including,
without limitation, any delay, increased costs, discriminatory rates of exchange or
current or future restrictions on repatriation of GHS into USD);

(ii)
results in the unavailability of GHS in the interbank foreign exchange market in
accordance with normal commercial practice.

"Market Disruption Event" means any event, other than an Inconvertibility Event, as a result of
which the Calculation Agent is unable to determine any amount falling to be determined by it in
respect of the Bonds, which event shall include, without limitation:

(i)
a natural or man-made disaster, armed conflict, act of terrorism, riot, labour
disruption or any other circumstance beyond its control; or

(ii)
the enactment, promulgation, execution, ratification or adoption of, or any
change in or amendment to, any rule, law, regulation or statute (or in the
applicability or official interpretation of any rule, law, regulation or statute) or the
issuance of any order or decree.

"GHS/USD Exchange Rate" means the currency exchange rate (expressed as the amount of GHS
for one USD) determined by the Calculation Agent on the basis of firm quotations, for the sale of
GHS and purchase of USD (where the USD is payable outside Ghana), provided by three
Reference Market Dealers as purchaser of GHS and seller of USD in an amount corresponding to
the relevant Interest Amount or Redemption Amount (as the case may be) at 10:00 a.m. (London
time) (or such other time as the Calculation Agent shall decide in its sole and absolute discretion)
on the relevant Rate Fixing Date.

The Calculation Agent shall calculate the GHS/USD Exchange Rate to be the arithmetic mean of
the quotations (rounded to the nearest one decimal points, with 0.00005 per cent. being rounded
up).

The Calculation Agent shall be entitled to determine the GHS/USD Exchange Rate, acting in good
faith and in a commercially reasonable manner having taken into account relevant market practice
if:

(a)
on the relevant Rate Fixing Date less than three Reference Market Dealers provide a
quotation as set forth above;

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(b)
there has occurred or is subsisting a Disruption Event on the Postponed Rate Fixing Date,
or

(c)
the Postponed Rate Fixing Date is an Unscheduled Holiday.

The Calculation Agent shall notify the Issuer as soon as reasonably practicable that the GHS/USD
Rate is to be so determined. Copies of all quotes obtained by the Calculation Agent will be
provided by the Calculation Agent to the Issuer upon request. For the avoidance of doubt, the
GHS/USD Exchange Rate may be such that the resulting USD amount is zero and in such
event no USD or GHS amount will be payable. For the avoidance of doubt, the resulting
amount cannot in any circumstances be less than zero.

"Postponed Rate Fixing Date" has the meaning given to it in paragraph 1(a) above.

"Rate Fixing Date" means the day that is 5 Business Days prior to the relevant Interest Payment
Date or Maturity Date or Early Redemption Payment Date, as applicable ("Scheduled Rate
Fixing Date"), provided that, in the event of an Unscheduled Holiday or there has occurred or is
subsisting on such date a Disruption Event, the Scheduled Rate Fixing Date in question shall be
adjusted in accordance with the Following Business Day Convention.

"Accra Business Day" means a day (other than a Saturday or Sunday) on which the banks and
foreign exchange markets are open for general business (including dealings in foreign exchange
and foreign currency deposits) in Accra.

"Unscheduled Holiday" means a day that is not an Accra 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. Accra time two Accra Business Days prior to the
Scheduled Rate Fixing Date.

"Reference Market Dealers" means each of the following banks or, if such bank is no longer in
existence or is, in the opinion of the Calculation Agent no longer and active dealer in GHS foreign
exchange, such other leading dealers, banks or banking corporations which deal in GHS selected
by the Calculation Agent in its sole discretion.

Standard Chartered Dubai
Citibank London
Barclays Bank Ghana

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