Obligation IBRD-Global 4.3% ( XS2384699612 ) en IDR

IBRD-Global

100 % ▲

Etas-Unis

XS2384699612 ( en IDR )

4.3% par an ( paiement annuel )

13/09/2023 - Obligation échue

Prospectus brochure de l'obligation IBRD XS2384699612 en IDR 4.3%, échue

10 000 000 IDR

400 000 000 000 IDR

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 IBRD (XS2384699612), émise aux États-Unis en IDR pour un montant total de 400 000 000 000, avec un coupon de 4,3% payable annuellement, et une taille minimale de transaction de 10 000 000, est arrivée à échéance le 13 septembre 2023 et a été remboursée à son prix nominal de 100%.

Final Terms dated 8 September 2021
International Bank for Reconstruction and Development
Issue of
IDR 400,000,000,000 4.30 per cent. Notes due 13 September 2023
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 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 market
See Term 29 below
UK MiFIR product governance / Retail investors, professional investors and ECPs target market
See Term 30 below
SUMMARY OF THE NOTES
1. Issuer:
International Bank for Reconstruction and Development
("IBRD")
2. (i) Series Number:
101398
(ii) Tranche Number:
1
3. Specified Currency or Currencies
Indonesian Rupiah ("IDR"), being the lawful currency of the
(Condition 1(d)):
Republic of Indonesia, provided that all payments in respect
of the Notes will be made in United States Dollars ("USD")
4. Aggregate Nominal Amount:
(i) Series:
IDR 400,000,000,000
(ii) Tranche:
IDR 400,000,000,000
5. (i)] Issue Price:
100 per cent. of the Aggregate Nominal Amount
(ii) Net proceeds:
USD 28,005,321.01 (equivalent to IDR 400,000,000,000,
based on the agreed rate of IDR 14,283 per USD 1.00)
6. Specified Denominations
IDR 10,000,000
(Condition 1(b)):
7. Issue Date:
13 September 2021
8. Maturity Date (Condition 6(a)):
13 September 2023
9. Interest Basis (Condition 5):
4.30 per cent. Fixed Rate
(further particulars specified in Term 16 below)
10. Redemption/Payment Basis
Redemption at par, payable in USD
(Condition 6):
11. Change of Interest or
Not Applicable
Redemption/Payment Basis:
1

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:
4.30 per cent. per annum payable annually in arrear
(ii) Interest Payment Dates:
13 September 2022 and the Maturity Date, not subject to
adjustment in accordance with a Business Day Convention
(iii) Interest Period Dates:
Each Interest Payment Date
(iv) Business Day Convention:
Not Applicable
(v) Day Count Fraction
30/360

(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 17 below); and
(c) the Day Count Fraction.
(vii) 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 IDR 10,000,000 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:
IDR 10,000,000 divided by the Reference Rate
(as defined below) on such Rate Fixing Date
Where:
"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 Jakarta, London, New York and Singapore.
"Calculation Agent" means Citibank, N.A., London Branch,
or its duly appointed successor.
"Jakarta 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
2

business (including dealings in foreign exchange and foreign
currency deposits) in Jakarta.
"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 fal s on
an Unscheduled Holiday, the Rate Fixing Date shall be the
next following Business Day; provided, that if such next
following 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 any 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 Banks" means five major banks in the Singapore
interbank market selected by the Calculation Agent.
"Reference Rate" means, in respect of a Rate Fixing Date,
the IDR/USD weighted average spot rate in the interbank
market based on traded IDR/USD spot foreign exchange
transactions during a specified time period, which are
captured on a real time basis, expressed as the amount of IDR
per one USD, published by the Bank Sentral Republik
Indonesia ("Bank Indonesia") at approximately 10:00 a.m.,
Jakarta time on such Rate Fixing Date as the Jakarta
Interbank Spot Dollar Rate USD IDR on Bank Indonesia's
website (www.bi.go.id) or otherwise made available by Bank
Indonesia (or its successor as administrator) ("IDR04").
If the Reference Rate cannot be determined in accordance
with the preceding paragraph on the relevant Rate Fixing
Date, the Reference Rate shall be the USD/IDR spot
exchange rate for such date expressed as the amount of IDR
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 IDR Indicative Survey Rate" or
"IDR02"). The Reference Rate will be calculated by
SFEMC (or a service provider SFEMC may select in its sole
discretion) pursuant to the SFEMC IDR 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 IDR/USD markets for the
purpose of determining the SFEMC IDR 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 IDR04 or IDA02 is replaced by a
3

successor price source for the USD/IDR spot 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 determined in accordance
with the preceding paragraphs on such Rate Fixing Date, then
the Reference Rate shall be determined by the Calculation
Agent by requesting five Reference Banks (selected by the
Calculation Agent at its sole discretion) for their mid-market
quotations of the USD/IDR spot exchange rate at
approximately 2:30 p.m. Jakarta time on such date.
If five or four quotations are provided as requested, the
Reference Rate will be the arithmetic mean (rounded to the
nearest whole IDR, 0.5 being rounded upwards) of the
remaining three or two such quotations, as the case may be,
for such rate provided by the Reference Banks, after
disregarding the highest such quotation and the lowest such
quotation (provided that, if two or more such quotations are
the highest such quotations, then only one of such quotations
shall be disregarded, and if two or more such quotations are
the lowest quotations, then only one of such lowest
quotations will be disregarded).
If only three or two such quotations are provided as
requested, the Reference Rate shall be determined as
described above except that the highest and lowest quotations
will not be disregarded.
If none or only one of the Reference Banks provides such
quotation, the Reference Rate will be determined by the
Calculation Agent in its sole discretion, acting 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.
The Calculation Agent shal notify the Issuer as soon as
reasonably practicable that the Reference Rate is to be so
determined.
"Unscheduled Holiday" means a day that is not a Jakarta
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 Jakarta, two Jakarta Business Days prior to
the relevant Rate Fixing Date.
18. Early Redemption Amount
The Early Redemption Amount with respect to each
(Condition 6(c)):
Specified Denomination will be a USD amount equal to the
Final Redemption Amount as determined in accordance with
Term 17 above plus accrued and unpaid interest, if any, as
determined in accordance with Term 16 above; provided, that
for purposes of such determination, the "Rate Fixing Date"
shall be the date that is five (5) Business Days prior to the
day on which the Early Redemption Amount shall be due and
payable.
4

GENERAL PROVISIONS APPLICABLE TO THE NOTES
19. Form of Notes (Condition 1(a)):
Registered Notes:

Global Registered Certificate available on the Issue Date
20. New Global Note:
No
21. Financial Centre(s) or other special
Jakarta, London, New York and Singapore
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 wel as the risks described under
"Risk Factors" in the Prospectus.
Because the Notes are denominated in IDR 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, IDR has appreciated in value against USD, the
payment in USD will be higher. Conversely, a depreciation in
value of IDR 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 (IDR).
In addition, 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 risks that are not
associated with a similar investment in a security
denominated or paid in that Investor's Currency. For more
exchange rate and exchange control risks if the investor's
currency is different from the Specified Currency" in the
Prospectus.
5

DISTRIBUTION
25. (i) If syndicated, names of
Not Applicable
Managers and underwriting
commitments:
(ii) Stabilizing Manager(s) (if any):
Not Applicable
26. If non-syndicated, name of Dealer:
Deutsche Bank AG, London Branch
27. Total commission and concession:
Not Applicable
28. Additional selling restrictions:
Not Applicable
29. MiFID II product governance /
Directive 2014/65/EU (as amended, "MiFID II") product
Retail investors, professional
governance / Retail investors, professional investors and
investors and ECPs target market:
ECPs 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 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.
For the purposes of this provision, the term "manufacturer"
means the Dealer.
IBRD does not fall under the scope of application of the
MiFID II package. Consequently, IBRD does not qualify as
an "investment firm", "manufacturer" or "distributor" for the
purposes of MiFID II.
30. UK MIFIR product governance /
Regulation (EU) No 600/2014 as it forms part of domestic
Retail investors, professional
law by virtue of the European Union (Withdrawal) Act
investors and ECPs only target
2018 ("UK MiFIR") product governance / Retail
market:
investors, professional investors and ECPs 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 FCA Handbook Conduct of Business
Sourcebook ("COBS"), professional clients and retail clients,
as defined in UK MiFIR; 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 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
6

manufacturer's target market assessment) and determining
appropriate distribution channels.
For the purposes of this provision, the term "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:
XS2384699612
32. Common Code:
238469961
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 September 23, 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 Eligible Sustainable Development
Projects.
"Eligible Sustainable Development Projects" means projects, programs and activities in IBRD's member
countries designed to achieve positive social and environmental impacts and outcomes in line with IBRD's twin
goals of eliminating extreme poverty and promoting shared prosperity.
Eligible Sustainable Development Projects undergo a rigorous review and internal approval process which
integrates IBRD's sustainability policies and environmental and social requirements.
IBRD's sustainable development bond framework ("SDBF"), as published from time to time, describes the
process for selecting, evaluating and reporting on Eligible Sustainable Development Projects and contains
descriptions and examples of such eligible projects.
The net proceeds from the sale of the Notes are not committed or earmarked for the lending to, or financing of,
any particular Eligible Sustainable Development Projects. Returns on Notes are not linked to the performance
of any particular Eligible Sustainable Development Projects. Prior to use, the net proceeds from the sale of the
Notes will be invested by IBRD's Treasury in accordance with IBRD's liquid asset management investment
policies. IBRD's administrative and operating expenses are covered entirely by IBRD's various sources of
revenue (net income) consisting primarily of net loan revenues and investment income (as more fully described
in the Information Statement). The SDBF and the information set forth therein are not a part of, or incorporated
by reference into, the Prospectus.
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.

7

RESPONSIBILITY
IBRD accepts responsibility for the information contained in these Final Terms.
Signed on behalf of IBRD:
By: .........................
Name:
Title:
Duly authorized
8