Obligation IBRD-Global 17% ( XS0876387662 ) en GHS

IBRD-Global

100 % ⇌

Etats-unis

XS0876387662 ( en GHS )

17% par an ( paiement annuel )

24/01/2014 - Obligation échue

Prospectus brochure de l'obligation IBRD XS0876387662 en GHS 17%, échue

19 000 000 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 XS0876387662, paye un coupon de 17% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 24/01/2014

Final Terms dated 18 January 2013
International Bank for Reconstruction and Development
Issue of GHS 19,000,000 17.00 per cent. Notes due 24 January 2014
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 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:
10904
(ii) Tranche Number:
1
3. Specified Currency or Currencies
Ghanaian Cedi ("GHS") (provided that all payments in
(Condition 1(d)):
respect of the Notes will be made in United States Dollars
("USD"))
4. Aggregate Nominal Amount:

(i) Series:
GHS 19,000,000
(ii) Tranche:
GHS 19,000,000
5. (i) Issue Price:
100 per cent. of the Aggregate Nominal Amount
(ii) Net proceeds:
USD 10,039,630.12 (equivalent to the Issue Price of GHS
19,000,000 converted into USD at the initial exchange rate
of GHS 1.8925 per USD 1.00)
6. (i) Specified Denominations
GHS 250,000 and integral multiples of GHS 10,000 in
(Condition 1(b)):
excess thereof
(ii) Calculation Amount
GHS 10,000
(Condition 5(j)):
7. Issue Date:
24 January 2013
8. Maturity Date (Condition 6(a)):
24 January 2014 (the "Scheduled Maturity Date"), subject
to postponement as provided in Term 23
9. Interest Basis (Condition 5):
17.00 per cent. Fixed Rate
(further particulars specified below)
10. Redemption/Payment Basis
As set out in Terms 17, 18 and 23 below
(Condition 6):
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:
17.00 per cent. per annum payable semi-annually in arrear
(ii) Interest Payment Date(s):
24 July 2013 and the Scheduled Maturity Date (each a
"Scheduled Interest Payment Date"), subject in each case
to postponement as provided in Term 23 below, with no
interest amount or other amount payable in relation to such
postponement
(iii) Fixed Coupon Amount:
GHS 850 per Calculation Amount, to be paid on the Interest
Payment Dates in USD and as determined by the
Calculation Agent on the Rate Fixing Date as follows:
850 divided by GHS/USD Exchange Rate (as defined in
Term 23 below)
(iv) Broken Amount(s):
Not Applicable
(v) Day Count Fraction (Condition 30E/360 (ISDA)

5(l)):
(vi) Other terms relating to the
See Term 23
method of calculating interest
for Fixed Rate Notes:
PROVISIONS RELATING TO REDEMPTION
17. Final Redemption Amount of each GHS 10,000 per Calculation Amount, payable in USD and
Note (Condition 6):
as determined by the Calculation Agent in accordance with
(and subject to) this Term 17
In cases where the Final

Redemption Amount is Index
Linked or other variable-linked:
(i) Index/Formula/variable
The Final Redemption Amount per Calculation Amount will
be payable in USD and calculated by the Calculation Agent
on the Rate Fixing Date as follows:
Calculation Amount divided by GHS/USD Exchange Rate
(as defined below in Term 23)
(ii) Provisions for determining
See Term 23 below
Final Redemption Amount
where calculation by
reference to Index and/or
Formula and/or other variable
is impossible or impracticable
or otherwise disrupted:
(iii) Payment Date:
The Scheduled Maturity Date (as defined in Term 8) subject
to postponement in accordance with Term 23 with no
additional amounts payable in relation to such postponement
18. Early Redemption Amount
The Final Redemption Amount payable in USD as
(Condition 6(c)):
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 Accra, London and New York
provisions relating to payment
dates (Condition 7(h)):
22. Governing law (Condition 14):
English

23. Other final terms:

(i)
Disruption Provisions:
(a)
In the event:
(I) the Scheduled Rate Fixing Date becomes
subject to the Following Business Day
Convention upon the occurrence of an
Unscheduled Holiday; or
(II) Rate Fixing Postponement applies,
the relevant Scheduled Interest Payment Date,
Scheduled Maturity Date or Early Redemption
Payment Date, as applicable, shall be postponed by
each day for which the relevant Scheduled Rate
Fixing Date is so postponed.
(b)
In the event (I) the Scheduled Rate Fixing Date
becomes subject to the Following Business Day
Convention after the occurrence of an Unscheduled
Holiday or (II) Rate Fixing Postponement applies, and
if the relevant 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:
(A) 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"); and
(B) the Calculation Agent shall be entitled to
determine the GHS/USD Exchange Rate on
such Postponed Rate Fixing Date, acting in
good faith and in a commercially reasonable
manner, having taken into account all
available information that it deems relevant.
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 Term
23.
(c)
Notwithstanding anything herein to the contrary, in no
event shall the total number of consecutive calendar
days during which either (I) the Rate Fixing Date is
postponed due to an Unscheduled Holiday or (II) a
Rate Fixing Postponement shall occur (or any
combination of (I) and (II)), exceed 14 consecutive
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, then such day shall be
deemed to be a Rate Fixing Date and (y) if, upon the
lapse of any such 14 day period, a Disruption Event
shall have occurred or be continuing on the relevant
day following such period, then Rate Fixing

Postponement shall not apply and in each case, the
GHS/USD Exchange Rate shall be determined in
accordance with Term 23(i)(b)(B) above.
(d)
If an event or a circumstance which would otherwise
constitute or give rise to an Inconvertibility Event also
constitutes a Price Source Disruption, it will be treated
as a Price Source Disruption and not an
Inconvertibility Event.
(e)
The Calculation Agent shall in each case, as soon as
reasonably practicable, give notice to the Noteholders,
in accordance with Condition 12, and to the Paying
Agent, IBRD and the Clearing Systems of:
(I)
the occurrence of any Unscheduled Holiday or
Disruption Event;
(II) the date on which an Unscheduled Holiday or a
Disruption Event ceases to exist and the
Postponed Rate Fixing Date (if any); and/or
(III) the fact that the GHS/USD Exchange Rate is to
be determined by the Calculation Agent in
accordance with this Term 23.
Copies of all quotes obtained by the Calculation Agent
will be provided by the Calculation Agent to IBRD
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, as applicable.

(ii)
Additional Definitions:
For the purposes of these Final Terms:
"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.
"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.
"Calculation Agent" means Standard Chartered Bank.
"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 IBRD
from time to time in relation to the Notes.
"Disruption Event" means each and any of a Price Source
Disruption, an Inconvertibility Event or a Market Disruption
Event.
"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 Condition 9.
"EMTA" means the Emerging Markets Trade Association.
"EMTA GHS Indicative Survey Rate" means the
GHS/USD specified rate for USD expressed as the amount
of GHS per one USD, for settlement in two Business Days,
as published on EMTA's website (www.emta.org) at
approximately 3:00 p.m. (Accra time) (or as soon thereafter
as such rate may be so published) on the Rate Fixing Date.
The spot rate shall be calculated by EMTA (or such service
provider as EMTA may select in its sole discretion) pursuant
to the EMTA GHS Indicative Survey Rate Methodology
(which means a methodology dated as of 9 May 2012, as
amended from time to time, for a centralized industry-wide
survey of financial institutions that are active participants in
GHS/USD markets for the purpose of determining the
EMTN GHS Indicative Survey Rate).
"GHS ICAP Rate" means, in respect of a Rate Fixing Date,
the GHS/USD rate expressed as the amount of GHS per one
USD for settlement in two Business Days reported by ICAP
Broking Services South Africa (Pty) Ltd., as published at
Thomson Reuters Screen ICAPFIXINGS Page (or such
other page or service as may replace such page for the
purposes of displaying such rate) not later than 1:00 p.m.
(Accra time) on that Rate Fixing Date.
"GHS/USD Exchange Rate" means the spot currency
exchange rate (expressed as the amount of GHS for one
USD) determined by the Calculation Agent on the relevant
Rate Fixing Date by reference to the GHS ICAP Rate or, in
the event the GHS ICAP Rate is not available on the
relevant Rate Fixing Date, by reference to the applicable
EMTA GHS Indicative Survey Rate, and, if applicable, in
the event of an Unscheduled Holiday or a Disruption Event,
in accordance with the provisions of this Term 23.
"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 (1) the convertibility of GHS into USD
through customary legal channels, or (2) the transfer
of GHS (x) from the Republic of Ghana ("Ghana") to
any other country or (y) between accounts in Ghana or
to a party that is a non-resident of Ghana (including,
without limitation, any delay, increased costs,
discriminatory rates of exchange or current or future
restrictions on the conversion of GHS into USD or
transferability of GHS outside Ghana or to non-
residents of Ghana); or
(ii) results in the unavailability of GHS in the interbank
foreign exchange market in accordance with normal
commercial practice,
and in each case, which affects the ability of market
participants to enter into, maintain, unwind or dispose of any

transaction(s) or asset(s) that are used in the market to hedge
the currency risk arising from the exchange rate movements
between GHS and USD.
"Market Disruption Event" means any event, other than an
Inconvertibility Event and a Price Source Disruption, as a
result of which the Calculation Agent is unable to determine
any amount falling to be determined by it in respect of the
Notes, 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,
and in each case, which affects the ability of market
participants to enter into, maintain, unwind or dispose of any
transaction(s) or asset(s) that are used in the market to hedge
the currency risk arising from exchange rate movements
between GHS and USD.
"Price Source Disruption" means in respect of a Rate
Fixing Date, it becomes impossible to obtain both the GHS
ICAP Rate and the EMTA GHS Indicative Survey Rate on
such date.
"Rate Fixing Date" means the day that is five Business
Days prior to the relevant Interest Payment Date, Maturity
Date or Early Redemption Payment Date, as applicable
(each a "Scheduled Rate Fixing Date"), provided that the
Scheduled Rate Fixing Date in question shall be adjusted in
accordance with (i) the Following Business Day Convention
in the event of an Unscheduled Holiday and/or (ii) Rate
Fixing Postponement in the event of a Disruption Event
(subject, in each case, to the Disruption Provisions contained
in this Term 23).
"Rate Fixing Postponement" means, for the purposes of
obtaining the GHS/USD Exchange Rate in the event of a
Disruption Event, that the GHS/USD Exchange Rate will be
determined on the Business Day first succeeding the day on
which the Disruption Event ceases to exist.
"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.
(iii)
Settlement Conditions:
For purposes of these Notes and subject to Terms 16, 17, 18
and 23, all settlements are in USD
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: Standard Chartered Bank

26. Additional selling restrictions:
Republic of Ghana
The Dealer has represented and agreed 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, distribution, placement, sale, purchase or
other transfer in the territory of the Republic of Ghana.
OPERATIONAL INFORMATION

27. ISIN Code:
XS0876387662
28. Common Code:
087638766
29. CUSIP:
Not Applicable
30. Any clearing system(s) other than
Not Applicable
Euroclear 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
Citibank, N.A., London Branch
any):
33. Intended to be held in a manner
No
which would allow Eurosystem

eligibility:

GENERAL INFORMATION
IBRD's most recent Information Statement was issued on 19 September 2012.

CONFLICT OF INTEREST
Standard Chartered Bank 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 Standard Chartered
Bank creates possible conflicts of interest. For example, the amounts payable by Standard
Chartered Bank 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 Standard Chartered Bank in its discretion as Calculation Agent for the
Notes may affect the amounts payable by Standard Chartered Bank under the related swap
transaction, and, in making such determinations, Standard Chartered Bank may have economic
interests adverse to those of the Noteholders. The Noteholder understands that although IBRD will
enter into the related swap transaction with Standard Chartered Bank 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.

RESPONSIBILITY
IBRD accepts responsibility for the information contained in these Final Terms.
Signed on behalf of IBRD:
By: ..........................................................

Name:
Title:

Duly authorized