Obligation IBRD-Global 8.5% ( XS2296460103 ) en UAH

IBRD-Global

100 % ⇌

Etas-Unis

XS2296460103 ( en UAH )

8.5% par an ( paiement annuel )

04/02/2024 - Obligation échue

Prospectus brochure de l'obligation IBRD XS2296460103 en UAH 8.5%, échue

10 000 UAH

260 480 000 UAH

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 UAH, avec le code ISIN XS2296460103, paye un coupon de 8.5% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 04/02/2024

Final Terms dated 2 February 2021

International Bank for Reconstruction and Development

Issue of UAH 260,480,000 8.50 per cent. Notes due 5 February 2024
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.
UK MIFIR product governance / Professional investors and ECPs target markets See Term 30
below.

SUMMARY OF THE NOTES
1.
Issuer:
International Bank for Reconstruction and Development
("IBRD")
2.
(i)
Series Number:
101300
(ii) Tranche Number:
1
3.
Specified Currency or Currencies
Ukrainian Hryvnia ("UAH") provided that all payments
(Condition 1(d)):
in respect of the Notes will be made in United States
Dollars ("USD")
4.
Aggregate Nominal Amount:

(i)
Series:
UAH 260,480,000
(ii) Tranche:
UAH 260,480,000
5.
(i)
Issue Price:
100 per cent. of the Aggregate Nominal Amount
(ii) Net proceeds:
USD 9,251,642.69 (equivalent to UAH 260,480,000 at
the USD/UAH exchange rate of UAH 28.155 per USD
1.00)
6.
Specified Denominations
UAH 10,000
(Condition 1(b)):
7.
Issue Date:
5 February 2021
8.
Maturity Date (Condition 6(a)):
5 February 2024 (the "Scheduled Maturity Date"),
unless the Final Rate Fixing Date is postponed beyond
the Scheduled Final Rate Fixing Date pursuant to Term
19 ("Disruption Provisions and Additional Definitions--
Disruption Provisions--Valuation Postponement"), in
which case the Maturity Date shall be postponed as
described therein.
For the avoidance of doubt, no additional amounts shall
be payable by the Issuer in the event that the Maturity
Date is so postponed due to the operation of Term 19
("Disruption Provisions and Additional Definitions--
Disruption Provisions--Valuation Postponement").
9.
Interest Basis (Condition 5):
8.50 per cent. Fixed Rate

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(further particulars specified below)
10. Redemption/Payment Basis
Redemption at par, payable in USD
(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:
8.50 per cent. per annum payable annually in arrear
(ii)
Interest Payment Date(s):
5 February in each year, from and including 5 February
2022 to and including the Maturity Date, not subject to
adjustment in accordance with a Business Day
Convention, provided that, if a Rate Fixing Date is
postponed beyond the corresponding Scheduled Rate
Fixing Date pursuant to Term 19 ("Disruption Provisions
and Additional Definitions--Disruption Provisions--
Valuation Postponement"), the corresponding Interest
Payment Date shall be equally postponed by each day for
which the relevant Rate Fixing Date is so postponed as
described therein.

For the avoidance of doubt, no additional amounts shall
be payable by the Issuer in the event that a Interest
Payment Date is so postponed due to the operation of
Term 19 ("Disruption Provisions and Additional
Definitions--Disruption Provisions--Valuation
Postponement").

(iii) Interest Period Date(s):
5 February in each year, from and including 5 February
2022 to and including the Scheduled Maturity Date, not
subject to adjustment in accordance with a Business Day
Convention and not subject to any postponement
(iv) Business Day Convention:
Not Applicable

(v)
Day Count Fraction
Actual/365 (Fixed)
(Condition 5(l)):

(vi) Interest Amount:
The Interest Amount payable per Specified Denomination
on each Interest Payment Date will be an amount in USD
determined by the Calculation Agent on the relevant Rate
Fixing Date equal to the product of:
(a) the Specified Denomination multiplied by the
Rate of Interest;
(b) 1 divided by the Reference Rate on such Rate
Fixing Date (as defined in Term 19 ("Disruption
Provisions and Additional Definitions") below);

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and
(c) the Day Count Fraction.
(vii) Other terms relating to the
As specified in Term 19 ("Disruption Provisions and
method of calculating interest
Additional Definitions") below
for Fixed Rate Notes:

PROVISIONS RELATING TO REDEMPTION
17. Final Redemption Amount of each
The Final Redemption Amount per minimum Specified
Note (Condition 6):
Denomination will be payable in USD on the Maturity
Date, and determined by the Calculation Agent on the
Final Rate Fixing Date by applying the following
formula:
Specified Denomination divided by the
Reference Rate
(as defined in Term 19 ("Disruption
Provisions and Additional Definitions"))

18. Early Redemption Amount
The Final Redemption Amount per Specified
(Condition 6(c)):
Denomination as determined in accordance with Term 17
plus accrued and unpaid interest, if any, as determined in
accordance with Term 16, save that: (i) 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 as provided in Condition 9 (the "Early
Redemption Date", and the date on which the Reference
Rate is determined, the "Early Redemption Valuation
Date") and (ii) all the references to "Final Rate Fixing
Date" and "Rate Fixing Date" shall be deemed to be
replaced by "Early Redemption Valuation Date".
GENERAL PROVISIONS APPLICABLE TO THE NOTES
19. Disruption Provisions and Additional
Disruption Provisions
Definitions:

In the event of the occurrence of an Unscheduled Holiday
or a Disruption Event on a day which but for such
occurrence would have been the Rate Fixing Date, the
Calculation Agent shall apply each of the following
paragraphs (each a "Disruption Fallback") for the
determination of the Reference Rate, in the order set forth
below, until the Reference Rate can be determined in
accordance with this Term 19 ("Disruption Provisions
and Additional Definitions"):
(1)
Valuation Postponement: the Reference Rate will
be determined on the first Business Day that is not
an Unscheduled Holiday, or on the Business Day
first following the day on which the Disruption
Event ceases to exist, as applicable, unless the Rate
Fixing Date has not occurred on or before the
fourteenth (14th) consecutive calendar day after the
Scheduled Rate Fixing Date (any such period
being a "Deferral Period"). In such event, the
Reference Rate will be determined in accordance
with the next applicable Disruption Fallback on the

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next day after the Deferral Period that would have
been a Business Day but for the occurrence of an
Unscheduled Holiday, or on the next day after the
Deferral Period that is a Business Day in the event
of a continuing Disruption Event (the "Postponed
Rate Fixing Date");
(2)
Fallback Reference Price (Dealer Poll): the
Reference Rate will be determined by the
Calculation Agent on the relevant Postponed Rate
Fixing Date pursuant to the Dealer Poll. If the
Reference Rate for such Postponed Rate Fixing
Date cannot be determined pursuant to the Dealer
Poll, then the Reference Rate for such Postponed
Rate Fixing Date will be determined in accordance
with the next applicable Disruption Fallback; and
(3)
Calculation Agent Determination: the Reference
Rate (or a method for determining the Reference
Rate) will be determined by the Calculation Agent
on the Postponed Rate Fixing Date in its sole and
absolute discretion.

The Calculation Agent shall notify the Issuer as soon as
reasonably practicable if the Reference Rate for such
Rate Fixing Date is to be determined as specified in this
Term 19 ("Disruption Provisions and Additional
Definitions").

In the event that a Rate Fixing Date is postponed beyond
the Scheduled Rate Fixing Date due to an Unscheduled
Holiday or the occurrence of a Disruption Event, the
corresponding Interest Payment Date, the Maturity Date
or the Early Redemption Date, as applicable, shall be
postponed by each day for which the relevant Rate Fixing
Date is so postponed.
For the avoidance of doubt, no additional interest or other
additional amounts shall be payable by the Issuer in the
event that the relevant Interest Payment Date, the
Maturity Date or the Early Redemption Date, as
applicable, is postponed due to the operation of this Term
19 ("Disruption Provisions and Additional Definitions").

Additional Definitions

"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 each of Kiev, London
and New York.

"Calculation Agent" means Citibank N.A., London
Branch.

"Dealer Poll" means that the Reference Rate in respect of
a certain date will be the USD/UAH exchange rate for
USD, expressed as the amount of UAH per one USD, for
settlement on the same day, as determined by the

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Calculation Agent on the basis of quotations provided by
Reference Dealers on such date. The Calculation Agent
will request each Reference Dealer to provide a firm
quotation of the specified rate as of 4:00 p.m., Kiev time.
If four (4) quotations are provided, the Reference Rate for
such Rate Fixing Date will be the arithmetic mean
(rounded to the nearest four decimal points, with 0.00005
being rounded up) of the specified rates without regard to
the specified rates having the highest and lowest value.
For this purpose, if more than one quotation has the same
highest and lowest value, then the specified rate of only
one of such quotations shall be disregarded. If two (2) or
three (3) quotations are provided, the Reference Rate for
such date will be the arithmetic mean (rounded to the
nearest four decimal points, with 0.00005 being rounded
up) of the specified rates provided. If fewer than two (2)
quotations are provided, it will be deemed that the
Reference Rate for such date cannot be determined
pursuant to the Dealer Poll.

"Disruption Event" means, in the sole and absolute
discretion of the Calculation Agent, any action, event, or
circumstance whatsoever which, from an economic, legal
or practical perspective, makes it impossible for the
Calculation Agent to obtain the Reference Rate on any
Rate Fixing Date in the manner referenced in the
definition "Reference Rate" below.

"Final Rate Fixing Date" means the Rate Fixing Date
immediately prior to the Scheduled Maturity Date, which
is expected to be 29 January 2024 (the "Scheduled Final
Rate Fixing Date").

"Kiev 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 Kiev.

"Rate Fixing Date" means the Business Day falling five
(5) Business Days prior to each Interest Payment Date,
the Scheduled Maturity Date and the Early Redemption
Date, as applicable (being the "Scheduled Rate Fixing
Date"), provided however, that, in the event of an
Unscheduled Holiday or there has occurred or is
subsisting on such date a Disruption Event, the Rate
Fixing Date shall be determined by the Calculation Agent
in accordance with the "Disruption Provisions" set forth
above under this Term 19 ("Disruption Provisions and
Additional Definitions"). If an Unscheduled Holiday
occurs between a Rate Fixing Date and the corresponding
Interest Payment Date, the Maturity Date or the Early
Redemption Date, as applicable, such Rate Fixing Date
shall not be subject to any postponement or adjustment.

"Reference Dealers" means four leading dealers or
banks active in the USD/UAH exchange market selected

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by the Calculation Agent in its sole discretion.

"Reference Rate" means, in respect of any Rate Fixing
Date, the USD/UAH official exchange rate, expressed as
the amount of UAH per one USD for settlement on that
same day, as published by the National Bank of Ukraine
(www.bank.gov.ua) on its website as its "Official hryvnia
exchange rate for UAH 1" against foreign currencies at
approximately 4:00 p.m., Kiev time, on such Rate Fixing
Date ("UAH04").

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
UAH04 is replaced by a successor price source for the
USD/UAH exchange rate in such Annex A to the FX
Definitions (the "Successor Price Source Definition"),
then the Reference Rate for the applicable Rate Fixing
Date will be determined in accordance with such
Successor Price Source Definition.

If the Reference Rate cannot be obtained in the manner
referenced above on such Rate Fixing Date because of a
Disruption Event, then the Reference Rate on such Rate
Fixing Date shall be determined by the Calculation Agent
in accordance with the "Disruption Provisions" set forth
above under this Term 19 ("Disruption Provisions and
Additional Definitions").

"Unscheduled Holiday" means a day that is not a Kiev
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 Kiev, two Kiev Business
Days prior to the relevant Scheduled Rate Fixing Date.

20. Form of Notes (Condition 1(a)):
Registered Notes:

Global Registered Certificate available on Issue Date
21. New Global Note:
No
22. Financial Centre(s) or other special
Kiev, London and New York
provisions relating to payment dates
(Condition 7(h)):
23. Governing law (Condition 14):
English
24. 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")."
25. Additional risk factors
An investment in the Notes is subject to the risks
described below, as well as the risks described under

6

"Risk Factors" in the accompanying Prospectus.
Because the Notes are denominated in UAH but payable
in USD, the Noteholders will be exposed to currency
exchange rate risks with respect to such currencies.
Changes in the USD/UAH exchange rates relating to any
of the currencies involved on the respective Rate Fixing
Dates, 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, UAH has
appreciated in value against USD, the payment in USD
will be higher. Conversely, a depreciation in value of
UAH 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 favourable 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 (UAH).
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
26. (i) If syndicated, names of
Not Applicable
Managers and underwriting
commitments:
(ii) Stabilizing Manager(s) (if any):
Not Applicable
27. If non-syndicated, name of Dealer:
Merrill Lynch International
28. Total commission and concession:
Not Applicable
29. Additional selling restrictions:
Not Applicable
30. UK MiFIR product governance /
Regulation (EU) No 600/2014 as it forms part of
Professional investors and ECPs
domestic law by virtue of the European Union
target markets:
(Withdrawal) Act 2018 ("UK MiFIR") product
governance / Professional investors and eligible
counterparties only target market: Solely for the
purposes of the 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 only eligible counterparties (as defined in the
United Kingdom Financial Conduct Authority (the

7

"FCA") Handbook Conduct of Business Sourcebook
("COBS")), and professional clients (as defined in UK
MiFIR); and (ii) all channels for distribution of the Notes
to eligible counterparties and professional clients 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 the FCA
Handbook Product Intervention and Product Governance
Sourcebook (the "UK MiFIR Product Governance
Rules") 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.
For the purposes of this provision, the expression
"manufacturer" means the Dealer.
IBRD does not fall under the scope of application of UK
MiFIR. Consequently, IBRD does not qualify as an
"investment firm", "manufacturer" or "distributor" for the
purposes of UK MiFIR.
OPERATIONAL INFORMATION
31. ISIN Code:
XS2296460103
32. Common Code:
229646010
33. Delivery:
Delivery against payment
34. Registrar and Transfer Agent (if any):
Citibank N.A., London Branch
35. Intended to be held in a manner which No
would allow Eurosystem eligibility:
GENERAL INFORMATION
IBRD's most recent Information Statement was issued on 23 September 2020.
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 the following five global themes into its lending activities helping its borrowing members
create sustainable development solutions: climate change; gender; infrastructure, public-private
partnerships and guarantees; knowledge management, and fragility, conflict and violence.

8

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.

9

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

By:
..........................................................

Name:
Title:

Duly authorised

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Document Outline

#1">Final Terms dated 2 February 2021