Inter-American Development Bank Issue of Debt (2176G)
14 November 2022 - 6:00PM
UK Regulatory
TIDM42BI
RNS Number : 2176G
Inter-American Development Bank
11 November 2022
PRICING SUPPLEMENT
Inter-American Development Bank
Global Debt Program
Series No: 849
USD 30,000,000 4.55 percent Notes due November 10, 2027 (the
"Notes")
Issue Price: 100.00 percent
No application has been made to list the Notes on any stock
exchange.
BMO Capital Markets
The date of this Pricing Supplement is November 7, 2022.
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.: 849
2. Aggregate Principal Amount: USD 30,000,000
3. Issue Price: USD 30,000,000, which is 100.00
percent of the Aggregate Principal
Amount
4. Issue Date: November 10, 2022
5. Form of Notes Registered only
(Condition 1(a)):
6. New Global Note: Not Applicable
7. Authorized Denomination(s)
(Condition 1(b)): USD 1,000 and integral multiples
of USD 1,000 in excess 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 USD
(Conditions 1(d) and 7(h)):
11. Maturity Date
(Condition 6(a); Fixed
Interest Rate and Zero Coupon): November 10, 2027
12. Interest Basis
(Condition 5): Fixed Interest Rate (Condition
5(I))
13. Interest Commencement Date
(Condition 5(III)): Issue Date (November 10, 2022)
14. Fixed Interest Rate (Condition
5(I)):
(a) Interest Rate: 4.55 percent per annum
(b) Fixed Rate Interest Semi-annually in arrear on May
Payment Date(s): 10 and November 10 in each year,
commencing on May 10, 2023,
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
16. Relevant Business Days: New York
17. Issuer's Optional Redemption
(Condition 6(e)): No
18. Redemption at the Option
of the Noteholders (Condition No
6(f)):
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 The Depository Trust Company
and (DTC); Clearstream Banking S.A.;
Settlement Procedures: Euroclear Bank SA/NV
3. Syndicated: No
4. Commissions and Concessions: 0.0333% of the Aggregate Principal
Amount
5. Estimated Total Expenses: The Lead Manager has agreed
to pay for all material expenses
related to the issuance of the
Notes.
6. Codes:
(a) CUSIP: 45818WEF9
(b) ISIN: US45818WEF95
7. Identity of Lead Manager: BMO Capital Markets Corp.
8. Provision for Registered
Notes:
(a) Individual Definitive
Registered Notes Available No
on Issue Date:
(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 No
Notes:
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 Lead Manager 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 Lead Manager
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.
Recent Developments
On September 26, 2022, the Board of Governors of the
Inter-American Development Bank (IDB) resolved that Mr. Mauricio
Claver-Carone would cease to hold the office of President of the
Bank, effective on that day. In accordance with the Bank's Charter,
the Executive Vice President, Reina Irene Mejía Chacón, is serving
as President a.i. until a new President is elected. The election
will be conducted as per the Bank's Charter and the Regulations for
the Election of the President of the Bank and will take place
during a Special Meeting for the Election to be held in sessions
taking place on two days: November 13, 2022 and November 20, 2022.
The first voting session shall take place on November 20, 2022.
Governors will be able to nominate candidates until November 11,
2022.
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 or visit 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.
END
IODUAAARUVUAAUA
(END) Dow Jones Newswires
November 14, 2022 02:00 ET (07:00 GMT)
Inter 2042 (LSE:42BI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Inter 2042 (LSE:42BI)
Historical Stock Chart
From Jul 2023 to Jul 2024
