Obligation IBRD-Global 6% ( XS2102927725 ) en INR

IBRD-Global

100 % ▲

Etas-Unis

XS2102927725 ( en INR )

6% par an ( paiement annuel )

16/01/2025 - Obligation échue

Prospectus brochure de l'obligation IBRD XS2102927725 en INR 6%, échue

50 000 INR

4 500 000 000 INR

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 ( Etas-Unis ) , en INR, avec le code ISIN XS2102927725, paye un coupon de 6% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 16/01/2025

Final Terms dated 18 February 2020

International Bank for Reconstruction and Development

Issue of INR 3,000,000,000 6.00 per cent. Fixed Rate Notes due 16 January 2025
payable in United States Dollars
(to be consolidated and form a single series with the existing INR 4,500,000,000 6.00 per
cent. Fixed Rate Notes due 16 January 2025 issued on 16 January 2020)

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.

MiFID II product governance / Retail investors, professional investors and ECPs target
markets See Term 29 below.

SUMMARY OF THE NOTES
1.
Issuer:
International Bank for Reconstruction and Development
("IBRD")
2.
(i)
Series Number:
101043

(ii) Tranche Number:
2
3.
Specified Currency or Currencies
Indian Rupee ("INR"), 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:
INR 7,500,000,000

(ii) Tranche:
INR 3,000,000,000
5.
(i)
Issue Price:
104.136 per cent. of the Aggregate Nominal Amount of this
Tranche plus 36 days of accrued interest

(ii) Net Proceeds
USD 43,208,723.12 (equivalent to INR 3,085,534,918.03,
based on the agreed rate of INR 71.41 per USD 1.00)
6.
Specified Denominations
INR 50,000

(Condition 1(b)):
7.
(i) Issue Date:
21 February 2020
(ii) Interest Commencement Date
16 January 2020
(Condition 5(l)):
8.
Maturity Date (Condition 6(a)):
16 January 2025
9.
Interest Basis (Condition 5):
6.00 per cent. Fixed Rate
(further particulars specified below)

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10. Redemption/Payment Basis
Redemption at par payable in USD (further particulars
(Condition 6):
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:
6.00 per cent. per annum payable annually in arrear
(ii) Interest Payment Date(s):
16 January in each year, from and including 16 January
2021 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 INR 3,000 per Specified Denomination, payable in
USD and determined by the Calculation Agent on the
applicable Rate Fixing Date by applying the following
formula:
INR 3,000 divided by the Reference Rate (as
defined in Term 17 below)
(vi) Broken Amount(s):
Not Applicable
(vii) Day Count Fraction
Actual/Actual (ICMA)
(Condition 5(l)):
(viii) Other terms relating to the
See Term 17 below
method of calculating interest for
Fixed Rate Notes:
PROVISIONS RELATING TO REDEMPTION
17. Final Redemption Amount of each
The Final Redemption Amount shall be INR 50,000 per
Note (Condition 6):
Specified Denomination payable in USD and determined

by the Calculation Agent by applying the following
formula on the Rate Fixing Date immediately prior to the
Maturity Date:
INR 50,000 divided by the Reference Rate on the
final Rate Fixing Date.
Where:

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"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, Mumbai and New York City.
"Calculation Agent" means Citibank, N.A., London
Branch, or its duly authorized successor.
"Mumbai 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 Mumbai.
"Rate Fixing Date" means the day that is five (5) Business
Days prior to each Interest Payment Date, the Maturity
Date or the date upon which the Notes become due and
payable as provided in Condition 9, as applicable (the
"Scheduled Rate Fixing Date"). If such Scheduled Rate
Fixing Date is an Unscheduled Holiday, the Rate Fixing
Date shall be the next following Business Day, provided
that, if the next day that would have been a Business Day
is also an Unscheduled Holiday, then the Rate Fixing Date
shall be such second Unscheduled Holiday. If an
Unscheduled Holiday occurs between the Rate Fixing 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 Rate Fixing
Date shall not be subject to any postponement or
adjustment.
"Reference Rate" means, in respect of a Rate Fixing Date,
the USD/INR spot exchange rate, expressed as the amount
of INR per one USD, reported by Financial Benchmarks
India Pvt. Ltd. (https://www.fbil.org.in) on such Rate
Fixing Date ("INR01"). INR01 currently appears on
Thomson Reuters Screen "INRREF=FBIL" Page at
approximately 1.30 p.m. Mumbai time, or as soon as
practicable thereafter, on such Rate Fixing Date.
If it becomes impossible to obtain the USD/INR spot
exchange rate on the relevant Rate Fixing Date as outlined
in the previous paragraph, the Reference Rate shall be the
USD/INR spot exchange rate for such date expressed as the
amount of INR per one USD as published on the website
of Singapore Foreign Exchange Market Committee
("SFEMC") (www.sfemc.org) at approximately 3:30 p.m.,
Singapore time, or as soon thereafter as practicable, on
such Rate Fixing Date (the "SFEMC INR INDICATIVE
SURVEY RATE"). The USD/INR spot exchange rate will

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be calculated by SFEMC (or a service provider SFEMC
may select in its sole discretion) pursuant to the SFEMC
INR INDICATIVE SURVEY RATE Methodology (which
means a methodology, dated as of December 1, 2004, as
amended from time to time, for a centralized industry-wide
survey of financial institutions that are active participants
in the USD/INR markets for the purpose of determining the
SFEMC INR INDICATIVE SURVEY RATE).
If Annex A to the 1998 FX and Currency Option
Definitions published by the International Swaps and
Derivatives Association, Inc., the Emerging Markets
Traders Association and the Foreign Exchange Committee
(the "FX Definitions") is amended such that INR01 or
SFEMC INR INDICATIVE SURVEY RATE is replaced
by a successor price source for the USD/INR spot exchange
rate in such Annex A to the FX Definitions (the "Successor
Price Source Definition"), then the Reference Rate for the
relevant Rate Fixing Date will be determined in accordance
with such Successor Price Source Definition.
If it becomes impossible to obtain the Reference Rate on
the relevant Rate Fixing Date as outlined in the previous
paragraphs, then the Reference Rate shall be determined by
the Calculation Agent in good faith and in a commercially
reasonable manner, having taken into account relevant
market practice by reference to such additional sources as
it deems appropriate; and in such case, the Calculation
Agent shall notify the Issuer and the Global Agent as soon
as reasonably practicable that the Reference Rate is to be
so determined.
"Thomson Reuters Screen" means, when used in
connection with any designated page, the display page so
designated on the Thomson Reuters service.
"Unscheduled Holiday" means a day that is not a Mumbai
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 Mumbai, two Mumbai Business
Days prior to the relevant Rate Fixing Date.
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, except that the
Reference Rate shall be determined by the Calculation
Agent 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 Rate Fixing Date")

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and all the references to "Rate Fixing Date" shall be
deemed to be replaced by "Early Redemption Rate Fixing
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, Mumbai and New York City
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 purpose of this
Condition 7(a) shall include all Instalment Amounts other
than final Instalment Amounts) on Registered Notes shall
be paid to the person shown on the Register at the close of
business on the calendar day before the due date for
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 INR but payable in
USD, 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 Rate Fixing Date, INR has appreciated
in value against USD, the payment in USD will be higher.
Conversely, a depreciation in value of INR against USD
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 will depend on the extent to
which the payment currency (USD) strengthens or weakens
against the denominated currency (INR).

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In addition, the Noteholders whose financial activities are
denominated principally in a currency (the "Investor's
Currency") other than any of the Specified Currencies,
will also be exposed to currency exchange rate risk that are
not associated with a similar investment in a security
denominated or paid in that Investor's Currency. For more
information, please see "Risk FactorsNotes are subject
to exchange rate and exchange control risks if the
investor's currency is different from the Specified
Currency" in the accompanying Prospectus.
DISTRIBUTION
25. (i) If syndicated, names of Managers
Not Applicable
and underwriting commitments:
(ii) Stabilizing Manager(s) (if any):
Not Applicable
26.
If non-syndicated, name of Dealer:
The Toronto-Dominion Bank
27.
Total commission and concession:
1.875 per cent. of the Aggregate Nominal Amount of this
Tranche
28.
Additional selling restrictions:
The Republic of India
The Notes may not be offered or sold to the public in India
and the Notes have not been and will not be registered with
the Securities and Exchange Board of India, the Reserve
Bank of India or any other regulatory authorities in India.
None of the Prospectus, these Final Terms or any other
offering material related to the sale and distribution of the
Notes has been or will be used on Indian territory and/or
distributed to residents of India.
29. MiFID II product governance / Retail
Directive 2014/65/EU (as amended, "MiFID II")
investors, professional investors and
product governance / Retail investors, professional
investors and eligible counterparties ("ECPs") target
ECPs target markets:
market: Solely for the purposes of each manufacturer's
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 manufacturer's 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 manufacturer's target market assessment) and
determining appropriate distribution channels.

IBRD does not fall under the scope of application of the
MiFID II package. Consequently, IBRD does not qualify

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as an "investment firm", "manufacturer" or "distributor"
for the purposes of MiFID II.

For the purposes of this provision, "manufacturer" means
the Dealer.
OPERATIONAL INFORMATION
30.
ISIN Code:
XS2102927725
31.
Common Code:
210292772
32. Delivery:
Delivery against payment
33. Registrar and Transfer Agent
Citibank, N.A., London Branch
(if any):
34. Intended to be held in a manner
No

which would allow Eurosystem

eligibility:

GENERAL INFORMATION
IBRD's most recent Information Statement was issued on September 24, 2019.

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). Prior to use, the net
proceeds will be invested by IBRD's Treasury in accordance with IBRD's liquid asset management
investment policies. 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 impact and undergo a rigorous review and internal approval process aimed
at safeguarding equitable and sustainable economic growth.
IBRD integrates five cross cutting themes into its lending activities helping its borrowing members
create sustainable development solutions: climate change; gender; jobs; public-private
partnerships; and fragility, conflict and violence.
IBRD's administrative and operating expenses are covered entirely by IBRD's various sources of
revenue (net income) consisting primarily of interest margin, equity contribution and investment
income (as more fully described in the Information Statement).

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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