REG - Inter-American Dev - Issue of Debt
27/02/2025 08:15
For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250227:nRSa6096Ya&default-theme=true
RNS Number : 6096Y Inter-American Development Bank 26 February 2025
PRICING SUPPLEMENT
Inter-American Development Bank
Global Debt Program
Series No: 969
USD 60,000,000 Multi Callable 5.45 percent Notes due February 26, 2040 (the
"Notes")
Issue Price: 100.000 percent
No application has been made to list the Notes on any stock exchange.
HSBC
The date of this Pricing Supplement is February 21, 2025
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.
UK MiFIR product governance / Professional investors and ECPs target market -
See "General Information-Additional Information Regarding the Notes-Matters
relating to UK MiFIR" below.
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.: 969
2. Aggregate Principal Amount: USD 60,000,000
3. Issue Price: USD 60,000,000.00, which is 100.00 percent of the Aggregate Principal Amount
4. Issue Date: February 26, 2025
5. Form of Notes
(Condition 1(a)):
Registered only, as further provided in paragraph 8 of "Other Relevant Terms"
below.
6. New Global Note: No
7. Authorized Denomination(s)
(Condition 1(b)):
USD 10,000 and integral multiples thereof
8. Specified Currency
(Condition 1(d)):
United States Dollars (USD) being the lawful currency of the United States of
America
9. Specified Principal Payment Currency
(Conditions 1(d) and 7(h)):
USD
10. Specified Interest Payment Currency
(Conditions 1(d) and 7(h)):
USD
11. Maturity Date
(Condition 6(a); Fixed Interest Rate and Zero Coupon):
February 26, 2040
12. Interest Basis
(Condition 5):
Fixed Interest Rate (Condition 5(I))
13. Interest Commencement Date
(Condition 5(III)):
Issue Date (February 26, 2025)
14. Fixed Interest Rate (Condition 5(I)):
(a) Interest Rate: 5.45 percent per annum
(b) Fixed Rate Interest Payment Date(s):
Annually in arrear on February 26 in each year, commencing on February 26,
2026, 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: New York and London
16. Relevant Business Days: New York and London
17. Issuer's Optional Redemption (Condition 6(e)):
Yes, in whole but not in part
(a) Notice Period:
(b) Amount:
No less than five (5) Relevant Business Days prior to the Optional Redemption
(c) Date(s): Dates
(d) Early Redemption Amount Bank: 100.00 percent per Authorized Denomination
February 26 in each year, commencing on February 26, 2027, up to and including
February 26, 2039
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:
Euroclear Bank SA/NV; Clearstream Banking S.A.
3. Syndicated: No
4. Commissions and Concessions: No commissions or concessions are payable in respect of the Notes. An
affiliate of the Dealer has arranged a swap with the Bank in connection with
this transaction and will receive amounts thereunder that may comprise
compensation.
5. Estimated Total Expenses: The Dealer has agreed to pay for all material expenses related to the issuance
of the Notes.
6. Codes:
(a) Common Code: 300618782
(b) ISIN: XS3006187820
7. Identity of Dealer: HSBC Bank plc
8. Provision for Registered Notes:
(a) Individual Definitive Registered Notes Available on Issue Date: No
(b) DTC Global Note(s): No
(c) Other Registered Global Notes: 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.
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) People's Republic of China: The Dealer represents, warrants and agrees, that the Notes are not being
offered or sold and may not be offered or sold, directly or indirectly, in the
People's Republic of China, except as permitted by the securities laws of the
People's Republic of China.
(d) Singapore: The Dealer represents, warrants and agrees, that it has no offered or sold any
Notes or caused the Notes to be made the subject of an invitation for
subscription or purchase and will not offer or sell any Notes or cause the
Notes to be made the subject of an invitation for subscription or purchase,
and has not circulated or distributed, nor will it circulate or distribute the
Prospectus, this Pricing Supplement or any other document or material in
connection with
the offer or sale, or invitation for subscription or purchase, of the Notes,
whether directly or indirectly, to any person in Singapore other than: (i) to
an institutional investor (as defined in Section 4A of the SFA) pursuant to
Section 274 of the SFA or (ii) to an accredited investor (as defined in
Section 4A of the SFA) pursuant to and in accordance with the conditions
specified in Section 275 of the SFA and (where
applicable) Regulation 3 of the Securities and Futures (Classes of Investors)
Regulations 2018 of Singapore.
Investors should note that there may be restrictions on the secondary sale of
the Notes under Section 276 of the SFA.
Any reference to the SFA is a reference to the Securities and Futures Act 2001
of Singapore and a reference to any term that is defined in the SFA or any
provision in the SFA is a reference to that term or provision as amended or
modified from time to time including by such of its subsidiary legislation as
may be applicable at the relevant time.
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 SFA, the Bank 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).
(f) General: No action has been or will be taken by the Bank 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.
General Information
Additional Information Regarding the Notes
1. Matters relating to UK MiFIR
The Bank does not fall under the scope of application of the UK MiFIR
regime. Consequently, the Bank does not qualify as an "investment firm",
"manufacturer" or "distributor" for the purposes of UK MiFIR.
UK MiFIR product governance / Professional investors and ECPs target market -
Solely for the purposes of the UK 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, as
defined in COBS, and professional 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 UK manufacturer's target market assessment;
however, a distributor subject to 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 UK manufacturer's target market
assessment) and determining appropriate distribution channels.
For the purposes of this provision, (i) the expression "UK manufacturer" means
the Dealer, (ii) the expression "COBS" means the FCA Handbook Conduct of
Business Sourcebook, (iii) the expression "UK MiFIR" means Regulation (EU) No
600/2014 as it forms part of UK domestic law by virtue of the EUWA and (iv)
the expression "UK MiFIR Product Governance Rules" means the FCA Handbook
Product Intervention and Product Governance Sourcebook.
INTER-AMERICAN DEVELOPMENT BANK
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END IODUNOWRVBUUUARRecent news on Deutsche Boerse AG
See all newsREG - Inter-American Dev - Issue of Debt
AnnouncementREG - Inter-American Dev - Issue of Debt
AnnouncementREG - Inter-American Dev - Issue of Debt
AnnouncementREG - Inter-American Dev - Issue of Debt
AnnouncementREG - iShares Physical - Publication of Final Terms
Announcement