REG - Inter-American Dev - Issue of Debt

Deutsche Boerse AGAnnouncement

20/11/2023 08:15

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RNS Number : 8997T  Inter-American Development Bank  20 November 2023

 

 

 

PRICING SUPPLEMENT

Inter-American Development Bank

Global Debt Program

Series No: 891

 

 

U.S.$50,000,000 Callable 5.125 percent Notes due November 17, 2026 (the
"Notes")

 

 

Issue Price: 100.00 percent

 

 

 

 

 

No application has been made to list the Notes on any stock exchange.

 

 

 

 

 

 

Wells Fargo Securities

 

 

 

 

 

The date of this Pricing Supplement is November 14, 2023.

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
July 28, 2020 (the "Prospectus") (which for the avoidance of doubt does not
constitute a prospectus for the purposes of Part VI of the United Kingdom
("UK") Financial Services and Markets Act 2000 or a base prospectus for the
purposes of Regulation (EU) 2017/1129 (as amended, the "Prospectus
Regulation") or the Prospectus Regulation as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("EUWA")).  This
Pricing Supplement must be read in conjunction with the Prospectus.  This
document is issued to give details of an issue by the Inter-American
Development Bank (the "Bank") under its Global Debt Program and to provide
information supplemental to the Prospectus.  Complete information in respect
of the Bank and this offer of the Notes is only available on the basis of the
combination of this Pricing Supplement and the Prospectus.

Terms and Conditions

The following items under this heading "Terms and Conditions" are the
particular terms which relate to the issue the subject of this Pricing
Supplement. Together with the applicable Conditions (as defined above), which
are expressly incorporated hereto, these are the only terms that form part of
the form of Notes for such issue.

 1.   Series No.:                                                                891
 2.   Aggregate Principal Amount:                                                U.S.$50,000,000
 3.   Issue Price:                                                               U.S.$50,000,000, which is 100.00 percent of the Aggregate Principal Amount

 4.   Issue Date:                                                                November 17, 2023
 5.   Form of Notes

(Condition 1(a)):

                                                                                 Registered only
 6.   New Global Note:                                                           Not Applicable
 7.   Authorized Denomination(s)

(Condition 1(b)):

                                                                                 U.S.$10,000 and integral multiples thereof
 8.   Specified Currency

(Condition 1(d)):

                                                                                 United States Dollars (U.S.$) being the lawful currency of the United States
                                                                                 of America

 9.   Specified Principal Payment Currency

(Conditions 1(d) and 7(h)):

                                                                                 U.S.$
 10.  Specified Interest Payment Currency

(Conditions 1(d) and 7(h)):

                                                                                 U.S.$
 11.  Maturity Date

(Condition 6(a); Fixed Interest Rate and Zero Coupon):

                                                                                 November 17, 2026

 12.  Interest Basis

(Condition 5):

                                                                                 Fixed Interest Rate (Condition 5(I))
 13.  Interest Commencement Date

(Condition 5(III)):

                                                                                 Issue Date (November 17, 2023)
 14.  Fixed Interest Rate (Condition 5(I)):
      (a)  Interest Rate:                                                        5.125 percent per annum
      (b)  Fixed Rate Interest Payment Date(s):

                                                                                 Annually in arrear on November 17 in each year, commencing on November 17,
                                                                                 2024, up to and including the Maturity Date.

                                                                                 Each Fixed Rate Interest Payment Date is subject to the Business Day
                                                                                 Convention, but with no adjustment to the amount of interest otherwise
                                                                                 calculated.

      (c)  Business Day Convention:                                              Following Business Day Convention
      (d) Fixed Rate Day Count Fraction(s):

                                                                                 30/360
 15.  Relevant Financial Center:                                                 London, New York
 16.  Relevant Business Days:                                                    London, New York
 17.  Issuer's Optional Redemption (Condition 6(e)):

                                                                                 Yes, in whole but not in part
      (a)  Notice Period:                                                        No less than five (5) Relevant Business Days prior to the Optional Redemption
                                                                                 Date

      (b)  Amount:                                                               100.00 percent per Authorized Denomination
      (c)  Date(s):                                                              November 17, 2025
      (d) Early Redemption Amount Bank:

                                                                                 100.00 percent of the Aggregate Principal Amount

 18.  Redemption at the Option of the Noteholders (Condition 6(f)):

                                                                                 No
 19.  Governing Law:                                                             New York
 Other Relevant Terms
 1.   Listing:                                                                   None
 2.   Details of Clearance System Approved by the Bank and the

Global Agent and Clearance and

Settlement Procedures:

                                                                                 The Depository Trust Company (DTC); Euroclear Bank SA/NV; Clearstream Banking
                                                                                 S.A.

 3.   Syndicated:                                                                No
 4.   Commissions and Concessions:                                               U.S.$10,000
 5.   Estimated Total Expenses:                                                  The Dealer has agreed to pay for all material expenses related to the issuance
                                                                                 of the Notes.

 6.   Codes:
      (a)  CUSIP:                                                                45818WEU6
      (b)  ISIN:                                                                 US45818WEU62
      (c)  Common Code:                                                          271913893
 7.   Identity of Dealer:                                                        Wells Fargo Securities, LLC

 8.   Provision for Registered Notes:
      (a)  Individual Definitive Registered Notes Available on Issue Date:       No
      (b)  DTC Global Note(s):                                                   Yes, issued in accordance with the Amended and Restated Global Agency
                                                                                 Agreement, dated as of July 28, 2020, between the Bank, Citibank, N.A., London
                                                                                 Branch as Global Agent, and the other parties thereto.

      (c)  Other Registered Global Notes:                                        No

 9.   Intended to be held in a manner which would allow Eurosystem eligibility:

                                                                                 Not Applicable
 10.  Selling Restrictions:

      (a)        United States:

                                                                                 Under the provisions of Section 11(a) of the Inter-American Development Bank
                                                                                 Act, the Notes are exempted securities within the meaning of Section 3(a)(2)
                                                                                 of the U.S. Securities Act of 1933, as amended, and Section 3(a)(12) of the
                                                                                 U.S. Securities Exchange Act of 1934, as amended.

      (b)        United Kingdom:                                                 The Dealer represents and agrees that (a) it has only communicated or caused

                                                                          to be communicated and will only communicate or cause to be communicated an
                                                                                 invitation or inducement to engage in investment activity (within the meaning
                                                                                 of Section 21 of the Financial Services and Markets Act 2000 (the "FSMA"))
                                                                                 received by it in connection with the issue or sale of the Notes in
                                                                                 circumstances in which Section 21(1) of the FSMA does not apply to the Bank,
                                                                                 and (b) it has complied and will comply with all applicable provisions of the
                                                                                 FSMA with respect to anything done by it in relation to such Notes in, from or
                                                                                 otherwise involving the UK.

      (c)        Singapore:                                                      In the case of the Notes being offered into Singapore in a primary or

                                                                          subsequent distribution, and solely for the purposes of its obligations
                                                                                 pursuant to Section 309B of the Securities and Futures Act (Chapter 289) of
                                                                                 Singapore (the "SFA"), the Issuer has determined, and hereby notifies all
                                                                                 relevant persons (as defined in Section 309A of the SFA) that the Notes are
                                                                                 "prescribed capital markets products" (as defined in the Securities and
                                                                                 Futures (Capital Markets Products) Regulations 2018 of Singapore) and Excluded
                                                                                 Investment Products (as defined in MAS Notice SFA 04-N12: Notice on the Sale
                                                                                 of Investment Products and MAS Notice FAA-N16: Notice on Recommendations on
                                                                                 Investment Products).

      (d)       General:                                                         No action has been or will be taken by the Issuer that would permit a public

                                                                          offering of the Notes, or possession or distribution of any offering material
                                                                                 relating to the Notes in any jurisdiction where action for that purpose is
                                                                                 required.  Accordingly, the Dealer agrees that it will observe all applicable
                                                                                 provisions of law in each jurisdiction in or from which it may offer or sell
                                                                                 Notes or distribute any offering material.

 

 

INTER-AMERICAN DEVELOPMENT BANK

 

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